In 2022, tuition for full-time students at Moody Bible Institute was $12,160 a year.
In 2022, tuition increased 2.7%–from $11,840 the previous year. On average, college tuition rises about 3% year.
Remember, the "sticker price" of tuition doesn't give you all the info you need to know how much you will actually have to pay for college. Many students find the actual cost of college is far less than the sticker price after grants, scholarships, and tuition discounts kick in. Additionally, student loans can make theprice of collegemore manageable until after graduation.
Moody Bible Institute 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. These institutions offer a lower cost of attendance for those who qualify as Illinois residents.
Choosing a college where you qualify for in-state residency can cut the cost of college tuition. Take the time to verify your state's requirements for in-state residency. Each state has different requirements to qualify as in-state resident. In many states, students must have lived in the state for 12 months before starting school to qualify for in-state tuition. There may be additional requirements too, depending on where you live.
Explore other Illinois colleges
Tuition at Moody Bible Institute is the same for all students.
Students from outside of the U.S. usually do not qualify for for federal financial aid, but should research private or school-specific aid and scholarships. International students who demonstrate financial need may be eligible for the following types of financial support at Moody Bible Institute:
•On-campus jobs •Moody Bible Institute-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 Moody Bible Institute.
Room and board at Moody Bible Institute is $12,920 a year. This covers the cost of living in dorms or other on-campus housing, and a meal plan that allows you to eat in the Moody Bible Institute's on-campus cafeterias and dining facilities.
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 real 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 charge some yearly fees to offsets cost associated with maintaining facilties, like the library, gym and computer labs.
There may be other costs associated with participating in special activities, like Greek Life, or participating in sports or other extracurriculars. Many schools offer ways for students who may struggle to participate because of cost can get help covering these costs.
The cost of getting around in college can really vary. Will you drive, fly, or take public transportation to school? Will you need to pay to park on-campus? Is the campus easy to get around on foot? Do you plan to bring a car or will you need to use busses, subways, or other modes of transportation? All of these questions can make a big difference in your estimated cost of transportation. At Moody Bible Institute, freshman are not allowed to park 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, getting around in an urban area could be expensive, but there may be more trains, busses or affordable flights to actually get to school. Moody Bible Instituteis in a urban setting in Illinois, near Chicago.
When estimating your budget for college, don’t forget to leave some room in your budget for personal expenses, like going out to eat or see shows, furnishing your living space, and things like haircuts, clothes and, yes, even toilet paper and shampoo.
Now, let’s look at the breakdown of all expenses, to get a better idea of what is really costs to go to Moody Bible Institute.
What will the cost of attending Moody Bible Institute be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$12,920|
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 Moody Bible Institute undergrads use financial aid to to cover the cost of tuition. In 2022, 1,352 of the 1,903 undergrads enrolled received financial aid. Moody Bible Institute meets 65% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $12,578 a year. Around 36% of Moody Bible Institute undergrads take out student loans to cover any remaining costs. Moody Bible Institute graduates who have student loans graduate with an average of $21,781 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Moody Bible Institute-Specific Loans||$25,000|
|Most Common Loans for Moody Bible Institute 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 Moody Bible Institute 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, Moody Bible Institute awarded 1,324 need-based scholarships to students, giving away total of $15.3 million to help students with financial need cover the cost of school. An additional $4.1 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 Moody Bible Institute 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 Moody Bible Institute was $12,578 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Moody Bible Institute seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Moody Bible Institute 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 Moody Bible Institute'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 reduce the total cost of attendance. Some schools offer tuition waivers for employees and their family members, underrepresented students, or military students. Even if you qualify for a 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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