M
Private 4 Year

McDaniel College Tuition & Cost

Westminster, Maryland

 3 Reviews

How much does it cost to attend?

Sticker Price
$61,042
Costs for McDaniel College
Fee Cost
Tuition$45,876
Books and Supplies$1,200
Other Fees$0
Room and Board $12,246
Other Expenses Budget$1,720

Annual Prices

The annual list price to attend McDaniel College on a full time basis for 2020/2021 is $61,042 for all students regardless of their residency. This fee is comprised of $45,876 for tuition, $12,246 room and board, $1,200 for books and supplies and $0 for other fees. Out of state tuition for McDaniel College is $45,876, the same as Maryland 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 McDaniel College when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2019/2020
$23,913
Net Price by Income McDaniel College
Family Income Net Price Paid
$0 to $30,000$20,223
$30,001 to $48,000$26,512
$48,001 to $75,000$729
$75,001 to $110,000$23,328
$110,000+$28,084

The average reported annual net price for McDaniel College for students receiving grants or scholarship aid was $23,913 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

99% of full-time undergrad McDaniel College received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $34,759 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 75% of students received Federal Student Loans averaging $5,612 and 11% of undergrads took out private student loans averaging $16,060.

Finanical Aid McDaniel College
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $34,759 99%
Institutional Grants and Scholarships $32,577 99%
Pell Grants $512 38%
Other Federal Grants $1,516 12%
State and Local Grants $6,326 30%
Federal Student Loans $5,612 75%
Other Student Loans $16,060 11%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to McDaniel College, we've modeled a ten year student loan with an original principal value of $87,008. The loan balance of $87,008 is a four year multiple of the $21,752 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 $830 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 $87,008
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $830.15
Total Interest Paid $12,610.28
Sum of All Loan Payments $99,618.28

Projected 4 Year Degree Price

4 Year Sticker Price
$244,168
Year All Residents
1 $61,042
2 $63,013
3 $65,047
4 $67,147

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at McDaniel College to be $244,168 - assuming graduation in normal time. The estimation assumes a 3.2% 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 McDaniel College
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $1,434 $4,302 $5,736

Estimated cost for a class at McDaniel College 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 McDaniel College versus other colleges.

Tuition Payment Plans Available

McDaniel College Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan Yes
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=164270 IPEDS survey data for McDaniel College.