In 2022, tuition for full-time students at Lipscomb University was $34,304 a year.
In 2022, tuition increased 3.91%–from $33,012 the previous year. On average, college tuition goes up about 3% every year.
If this information makes going to college sound impossible, remember, the "sticker price" of tuition doesn't always give you enough information to determine the actual cost of attending any given college. Many students pay much less than the total tuition after grants, scholarships, and tuition discounts are awarded. Plus, student loans can make theprice of collegemore manageable until you've finishing school and found a job.
Lipscomb University is a private, religious institution, which means it has the same tuition for students from Tennessee as it does for students who live in other states.
Public colleges and universities receive funding from the state government. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.
Choosing a college where you qualify for in-state status can cut the cost of college tuition. Be sure to check your state's requirements for in-state residency. Every state has its own rules about what makes someone eligible for in-state tuition. The most common requirement is that students must have lived in the state for a full year before starting school. There may be other criteria as well, depending on the state you and your parents currently live in.
Explore other Tennessee colleges
Lipscomb has the same tuition for international students as for those from out of state.
Students from outside of the U.S. usually do not qualify for for loans or grants from the U.S. government, but should research private or school-specific aid and scholarships. International students who demonstrate financial need may qualify for the following types of financial support at Lipscomb:
•On-campus jobs •Athletic Awards •Lipscomb-specific scholarships
International students without financial need may be eligible for merit-based institutional scholarships and athletic awards.
Tuition is not the only cost of attending college; room and board, books, transportation and fees are also costs it consider when estimating the cost of attendance for college. Let's take a look at what impacts these costs, and what to expect at Lipscomb.
Room and board at Lipscomb costs $14,036 a year. This includes the cost of living in dorms or other on-campus housing, plus a dining plan that enables you to eat in the Lipscomb's on-campus cafeterias and dining facilities. Students who do not live on-campus but still want to use the dining facilities can choose to be on a meal plan. The cost of a mean plan, or board-only, is $10,500.
Meal-plan costs vary based on on how many meals are included in the plan you choose.
First-year students are sometimes surprised by how much books and supplies cost–and not in a good way. The real cost of books and supplies depends on the courses you take and the materials required. To save money, many students choose to use books from the library or buy books from students who have already taken the course.
The majority of colleges also have fees to offsets cost associated with maintaining facilties, like the library, gym and computer labs.
There may be optional fees associated with participating in certain activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Many schools offer ways for students with demonstrated need to find ways to lower or eliminate these fees.
The total cost of transportation in college can really vary. Will you drive, fly, or take public transportation to school? Is on-campus parking free, or will you need to budget for parking? Is the campus walkable? Do you plan to bring a car or are you planning to use busses, subways, or other modes of transportation? All of these questions can drastically impact your estimated cost of transportation. Keeping in mind, first-year students are allowed to park a car on campus.
The location of a college or university can impact your transportation budget. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the flip side, getting around in an urban area could be costly, but cities may offer more trains, busses and affordable flights to actually get to school. The Lipscomb University campus is located in a suburban setting in Tennessee.
When creating a budget for college, don’t forget to take into account personal expenses, like entertainment, clothes, furnishings and toiletries.
Now, let’s do a rundown of all of the costs associated with college, to get a better estimate of how much students can expect to shell out for Lipscomb.
What will the cost of attending Lipscomb be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$14,036|
The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.
|Total Estimated Costs|
The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.
The majority of Lipscomb University undergrads use financial aid to to cover the cost of tuition. In 2022, 1,744 of the 2,952 undergrads enrolled received financial aid. Lipscomb meets 66.4% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $26,697 a year. Around 52.8% of Lipscomb undergrads take out student loans to cover any remaining costs. Lipscomb graduates who have student loans graduate with an average of $29,282 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Most Common Loans for Lipscomb Students|
Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.
The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Lipscomb financial aid, keep reading, or visit their financial aid website.
Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.
In 2022, Lipscomb awarded 1,715 need-based scholarships to students, giving away total of $37.6 million to help students with financial need cover the cost of school. An additional $16.19 million in merit-based scholarship money was awarded to students without demonstrated financial need.
The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.
Now that we have a sense of the total estimated costs for Lipscomb students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.
When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.
The average amount of financial aid received by a full-time first year student with demonstrated need at Lipscomb was $26,697 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Lipscomb seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Lipscomb really cost you? The answer depends on several factors.
As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families make more informed decisions about the actual cost of attending that school, based on their financial situation. You can find the Lipscomb's net cost calculator on their website.
Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.
Students cannot pay tuition in installments. Contact the financial aid office to verify this and discuss options.
Schools sometimes offer tuition waivers to certain groups, to make attending more affordable. Some schools offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even with a tuition waiver, students are usually responsible for housing, meal plans, and other expenses.
Check the financial aid website for more information on payment plans and tuition waivers.
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Data Source: IPEDs and Peterson's Databases © 2022 Peterson's LLC All rights reserved
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