#15 Best Private Colleges in Illinois

Milikin Tuition & Cost

Decatur, Illinois

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How much does it cost to attend?

Sticker Price
Costs for Millikin University
Fee Cost
Books and Supplies$1,000
Other Fees$792
Room and Board $12,210
Other Expenses Budget$2,100

Annual Prices

The annual list price to attend Millikin University on a full time basis for 2020/2021 is $54,902 for all students regardless of their residency. This fee is comprised of $38,800 for tuition, $12,210 room and board, $1,000 for books and supplies and $792 for other fees. Out of state tuition for Millikin University is $38,800, the same as Illinois residents.

All price data is sourced from the 2020/2021 U.S. Department of Education National Center for Education Statistics survey.

Net Price

Net price is indicative of what it actually costs to attend Millikin University when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2019/2020
Net Price by Income Millikin University
Family Income Net Price Paid
$0 to $30,000$15,057
$30,001 to $48,000$16,102
$48,001 to $75,000$17,320
$75,001 to $110,000$20,288

The average reported annual net price for Millikin University for students receiving grants or scholarship aid was $19,948 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

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Financial Aid

100% of full-time undergrad Millikin University received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $29,450 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 69% of students received Federal Student Loans averaging $5,505 and 10% of undergrads took out private student loans averaging $10,832.

Finanical Aid Millikin University
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $29,450 100%
Institutional Grants and Scholarships $26,097 100%
Pell Grants $4,596 37%
Other Federal Grants $492 21%
State and Local Grants $4,763 32%
Federal Student Loans $5,505 69%
Other Student Loans $10,832 10%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Millikin University, we've modeled a ten year student loan with an original principal value of $75,688. The loan balance of $75,688 is a four year multiple of the $18,922 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $722 could be required to satisfy your student loan.

Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 2.75%.

Example Loan $75,688
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $722.15
Total Interest Paid $10,969.64
Sum of All Loan Payments $86,657.64

Projected 4 Year Degree Price

4 Year Sticker Price
Year All Residents
1 $54,902
2 $58,200
3 $61,696
4 $65,402

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Millikin University to be $219,608 - assuming graduation in normal time. The estimation assumes a 6% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at Millikin University
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $499 $1,497 $1,996

Estimated cost for a class at Millikin University based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at Millikin University versus other colleges.

Tuition Payment Plans Available

Millikin University Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan No
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=147244 IPEDS survey data for Millikin University.