Private 4 Year

Lees-McRae College Tuition & Cost

Banner Elk, North Carolina

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How much does it cost to attend?

Sticker Price
Costs for Lees McRae College
Fee Cost
Books and Supplies$550
Other Fees$1,000
Room and Board $11,216
Other Expenses Budget$5,205

Annual Prices

The annual list price to attend Lees McRae College on a full time basis for 2018/2019 is $43,596 for all students regardless of their residency. This fee is comprised of $25,625 for tuition, $11,216 room and board, $550 for books and supplies and $1,000 for other fees. Out of state tuition for Lees McRae College is $25,625, the same as North Carolina residents.

All price data is sourced from the 2019/2020 U.S. Department of Education National Center for Education Statistics survey.
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Net Price

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

Average Net Price 2018/2019
Net Price by Income Lees McRae College
Family Income Net Price Paid
$0 to $30,000$16,754
$30,001 to $48,000$18,406
$48,001 to $75,000$19,096
$75,001 to $110,000$24,886

The average reported annual net price for Lees McRae College for students receiving grants or scholarship aid was $22,357 in 2018/2019. 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 Lees McRae 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 $20,044 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 64% of students received Federal Student Loans averaging $5,888 and 8% of undergrads took out private student loans averaging $13,226.

Finanical Aid Lees McRae College
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $20,044 100%
Institutional Grants and Scholarships $16,058 100%
Pell Grants $4,997 38%
Other Federal Grants $2,920 7%
State and Local Grants $5,164 36%
Federal Student Loans $5,888 64%
Other Student Loans $13,226 8%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Lees McRae College, we've modeled a ten year student loan with an original principal value of $81,240. The loan balance of $81,240 is a four year multiple of the $20,310 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 $775 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 $81,240
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $775.12
Total Interest Paid $11,774.31
Sum of All Loan Payments $93,014.31

Projected 4 Year Degree Price

4 Year Sticker Price
Year All Residents
1 $43,596
2 $44,405
3 $45,228
4 $46,067

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Lees McRae College to be $174,384 - assuming graduation in normal time. The estimation assumes a 1.9% 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 Lees McRae College
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $752 $2,256 $3,008

Estimated cost for a class at Lees McRae 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 Lees McRae College versus other colleges.

Tuition Payment Plans Available

Lees McRae College 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=198808 IPEDS survey data for Lees McRae College.