O
#22 Best Private Colleges in Illinois

Olivet Nazarene University Tuition & Cost

Bourbonnais, Illinois

 1 Reviews

How much does it cost to attend?

Sticker Price
$49,640
Costs for Olivet Nazarene University
Fee Cost
Tuition$35,960
Books and Supplies$1,000
Other Fees$990
Room and Board $8,990
Other Expenses Budget$2,700

Annual Prices

The annual list price to attend Olivet Nazarene University on a full time basis for 2020/2021 is $49,640 for all students regardless of their residency. This fee is comprised of $35,960 for tuition, $8,990 room and board, $1,000 for books and supplies and $990 for other fees. Out of state tuition for Olivet Nazarene University is $35,960, 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 Olivet Nazarene University when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2019/2020
$20,006
Net Price by Income Olivet Nazarene University
Family Income Net Price Paid
$0 to $30,000$16,451
$30,001 to $48,000$15,658
$48,001 to $75,000$17,206
$75,001 to $110,000$21,860
$110,000+$23,493

The average reported annual net price for Olivet Nazarene University for students receiving grants or scholarship aid was $20,006 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

Costs for Similar Colleges 

Financial Aid

100% of full-time undergrad Olivet Nazarene 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 $28,153 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 78% of students received Federal Student Loans averaging $5,399 and 10% of undergrads took out private student loans averaging $11,615.

Finanical Aid Olivet Nazarene University
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $28,153 100%
Institutional Grants and Scholarships $24,131 100%
Pell Grants $4,467 42%
Other Federal Grants $1,896 19%
State and Local Grants $4,836 37%
Federal Student Loans $5,399 78%
Other Student Loans $11,615 10%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Olivet Nazarene University, we've modeled a ten year student loan with an original principal value of $72,972. The loan balance of $72,972 is a four year multiple of the $18,243 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 $696 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 $72,972
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $696.23
Total Interest Paid $10,576.00
Sum of All Loan Payments $83,548.00

Projected 4 Year Degree Price

4 Year Sticker Price
$198,560
Year All Residents
1 $49,640
2 $50,886
3 $52,163
4 $53,473

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Olivet Nazarene University to be $198,560 - assuming graduation in normal time. The estimation assumes a 2.5% 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 Olivet Nazarene University
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $1,500 $4,500 $6,000

Estimated cost for a class at Olivet Nazarene 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 Olivet Nazarene University versus other colleges.

Tuition Payment Plans Available

Olivet Nazarene 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=147828 IPEDS survey data for Olivet Nazarene University.