C
Private 4 Year

Cleveland Institute of Music Tuition & Cost

Cleveland, Ohio

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How much does it cost to attend?

Sticker Price
$60,680
Costs for Cleveland Institute of Music
Fee Cost
Tuition$40,000
Books and Supplies$600
Other Fees$2,006
Room and Board $15,576
Other Expenses Budget$2,498

Annual Prices

The annual list price to attend Cleveland Institute of Music on a full time basis for 2018/2019 is $60,680 for all students regardless of their residency. This fee is comprised of $40,000 for tuition, $15,576 room and board, $600 for books and supplies and $2,006 for other fees. Out of state tuition for Cleveland Institute of Music is $40,000, the same as Ohio 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 Cleveland Institute of Music when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2018/2019
$34,600
Net Price by Income Cleveland Institute of Music
Family Income Net Price Paid
$0 to $30,000$18,736
$30,001 to $48,000$27,453
$48,001 to $75,000$27,910
$75,001 to $110,000$29,262
$110,000+$37,796

The average reported annual net price for Cleveland Institute of Music for students receiving grants or scholarship aid was $34,600 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

98% of full-time undergrad Cleveland Institute of Music received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $25,380 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 58% of students received Federal Student Loans averaging $5,424 and 3% of undergrads took out private student loans averaging $18,450.

Finanical Aid Cleveland Institute of Music
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $25,380 98%
Institutional Grants and Scholarships $24,220 98%
Pell Grants $5,640 16%
Other Federal Grants $1,434 16%
State and Local Grants $0 0%
Federal Student Loans $5,424 58%
Other Student Loans $18,450 3%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Cleveland Institute of Music, we've modeled a ten year student loan with an original principal value of $139,228. The loan balance of $139,228 is a four year multiple of the $34,807 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 $1,328 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 $139,228
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $1,328.39
Total Interest Paid $20,178.64
Sum of All Loan Payments $159,406.64

Projected 4 Year Degree Price

4 Year Sticker Price
$242,720
Year All Residents
1 $60,680
2 $64,928
3 $69,473
4 $74,336

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Cleveland Institute of Music to be $242,720 - assuming graduation in normal time. The estimation assumes a 7% annual increase over the next 4 years which is the national trend.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at Cleveland Institute of Music
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $1,904 $5,712 $7,616

Estimated cost for a class at Cleveland Institute of Music 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 Cleveland Institute of Music versus other colleges.

Tuition Payment Plans Available

Cleveland Institute of Music 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=202073 IPEDS survey data for Cleveland Institute of Music.