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Private 4 Year

Mercyhurst College Tuition & Cost

Erie, Pennsylvania

 2 Reviews

How much does it cost to attend?

Sticker Price
$56,311
Costs for Mercyhurst College
Fee Cost
Tuition$37,500
Books and Supplies$1,200
Other Fees$2,670
Room and Board $12,880
Other Expenses Budget$2,061

Annual Prices

The annual list price to attend Mercyhurst College on a full time basis for 2018/2019 is $56,311 for all students regardless of their residency. This fee is comprised of $37,500 for tuition, $12,880 room and board, $1,200 for books and supplies and $2,670 for other fees. Out of state tuition for Mercyhurst College is $37,500, the same as Pennsylvania 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 Mercyhurst College when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2018/2019
$23,605
Net Price by Income Mercyhurst College
Family Income Net Price Paid
$0 to $30,000$19,415
$30,001 to $48,000$20,744
$48,001 to $75,000$22,439
$75,001 to $110,000$24,720
$110,000+$26,965

The average reported annual net price for Mercyhurst College for students receiving grants or scholarship aid was $23,605 in 2018/2019. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

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Costs for Similar Colleges

Financial Aid

98% of full-time undergrad Mercyhurst 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 $29,129 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 72% of students received Federal Student Loans averaging $5,693 and 20% of undergrads took out private student loans averaging $16,423.

Finanical Aid Mercyhurst College
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $29,129 98%
Institutional Grants and Scholarships $26,327 98%
Pell Grants $4,384 30%
Other Federal Grants $2,484 17%
State and Local Grants $3,890 26%
Federal Student Loans $5,693 72%
Other Student Loans $16,423 20%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Mercyhurst College, we've modeled a ten year student loan with an original principal value of $97,136. The loan balance of $97,136 is a four year multiple of the $24,284 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 $927 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 $97,136
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $926.78
Total Interest Paid $14,078.15
Sum of All Loan Payments $111,214.15

Projected 4 Year Degree Price

4 Year Sticker Price
$225,244
Year All Residents
1 $56,311
2 $59,317
3 $62,483
4 $65,818

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Mercyhurst College to be $225,244 - assuming graduation in normal time. The estimation assumes a 5.3% 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 Mercyhurst College
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $1,250 $3,750 $5,000

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

Tuition Payment Plans Available

Mercyhurst 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=213987 IPEDS survey data for Mercyhurst College.