In 2022, tuition for full-time students at Millikin University was $40,740 a year.
Tuition increased 5% in 2022–from $38,800 the prior year. Usually, colleges raise tuition about 3% each year.
If these numbers seem daunting, remember, the total cost of tuition isn't the final cost for attending college. Many students owe far less than the sticker price after grants, scholarships, and tuition discounts are awarded. Additionally, student loans can make theprice of collegemore manageable until after graduation.
Millikin University is a private, religious institution, so it has the same tuition for students from Illinois 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 tuition can cut the cost of college tuition. Take the time to verify your state's guidelines for how to qualify for as an in-state resident. Each state has different requirements to qualify as in-state resident. Most states require students to have resided in the state for a certain period of time before qualifying. There may be other criteria too, depending on the state you and your parents currently live in.
Explore other Illinois colleges
Tuition at Millikin University is the same for all students.
Students from outside of the U.S. usually do not qualify for for federal financial aid, but may qualify for private or school-specific aid and scholarships. International students who demonstrate financial need may be eligible for the following types of financial support at Millikin University:
•Millikin University-specific scholarships
International students without financial need may be eligible for merit-based institutional scholarships.
Tuition is not the only cost of attending college; there are other costs associated with college, like room and board, facility fees, and books and supplies. Let's take a look at what impacts these costs, and what to expect at Millikin University.
Housing and campus dining at Millikin University costs $12,394 a year. This number covers the cost of living in dorms or other on-campus housing, and a dining plan that allows you to eat in the Millikin University's on-campus cafeterias and dining halls.
Board costs vary based on on how many meals are included in the plan you choose.
The cost of books often surprises first-year college students. The actual cost of books depends on the courses you take and what kinds of books and materials they require. To save money, many students choose to use books from the library or buy used textbooks and materials.
The majority of colleges also have fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.
Keep in mind, there could also be optional fees associated with participating in certain activities, like Greek Life, or participating in sports or other extracurriculars. Many schools offer ways so that those with demonstrated need to find ways to lower or eliminate these costs.
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 small enough that you can easily walk from class-to-class?? Do you plan to bring a car or are you planning to use public 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.
Where are a college is located can impact the amount you'll have to spend just to get around. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the flip side, transportation in an urban area could be costly, but cities may offer more buses, trains and affordable flights to actually get to school. The Millikin University campus is in a suburban setting in Illinois.
When you're planning for college, don’t forget to take into account personal expenses, like movies, takeouts, furniture or appliances for your dorm or housing, and essentials like laundry detergent, toothpaste and toilet paper.
Now, let’s go over all of the costs we've covered, to get a better estimate of how much students can expect to shell out for Millikin University.
What will the cost of attending Millikin University be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$12,394|
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 Millikin University undergrads use financial aid to to cover the cost of tuition. In 2022, 1,416 of the 1,812 undergrads enrolled received financial aid. Millikin University meets 86% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $34,039 a year. Around 80% of Millikin University undergrads take out student loans to cover any remaining costs. Millikin University graduates who have student loans graduate with an average of $33,408 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Most Common Loans for Millikin University 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 Millikin University 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, Millikin University awarded 1,243 need-based scholarships to students, giving away total of $18 million to help students with financial need cover the cost of school. An additional $29.45 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 Millikin University 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 Millikin University was $34,039 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Millikin University seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Millikin University 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 get a better idea of the actual cost of attending that school, based on their financial situation. You can find the Millikin University'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.
Millikin University offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.
Schools sometimes offer tuition waivers to certain groups, to reduce the total cost of attendance. Some schools offer tuition waivers for employees and their family members, underrepresented students, or military students. Even with a tuition waiver, other expenses and fees are the responsibility of the student.
Millikin University has some full or partial tuition waivers available for: - Employees or Children of Employees
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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