#3 Best Colleges in Texas

SMU Tuition & Cost

Dallas, Texas

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How much does it cost to attend?

Sticker Price
Costs for Southern Methodist University
Fee Cost
Books and Supplies$800
Other Fees$6,772
Room and Board $17,438
Other Expenses Budget$2,600

Annual Prices

The annual list price to attend Southern Methodist University on a full time basis for 2021/2022 is $81,074 for all students regardless of their residency. This fee is comprised of $53,464 for tuition, $17,438 room and board, $800 for books and supplies and $6,772 for other fees. Out of state tuition for Southern Methodist University is $53,464, the same as Texas residents.

All price data is sourced from the 2021/2022 U.S. Department of Education National Center for Education Statistics survey.

Net Price

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

Average Net Price 2019/2020
Net Price by Income Southern Methodist University
Family Income Net Price Paid
$0 to $30,000$27,427
$30,001 to $48,000$24,226
$48,001 to $75,000$29,892
$75,001 to $110,000$33,820

The average reported annual net price for Southern Methodist University for students receiving grants or scholarship aid was $41,444 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

Financial Aid

77% of full-time undergrad Southern Methodist 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 $34,890 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 22% of students received Federal Student Loans averaging $5,262 and 5% of undergrads took out private student loans averaging $29,351.

Finanical Aid Southern Methodist University
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $34,890 77%
Institutional Grants and Scholarships $33,872 75%
Pell Grants $4,600 9%
Other Federal Grants $2,463 4%
State and Local Grants $3,505 10%
Federal Student Loans $5,262 22%
Other Student Loans $29,351 5%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Southern Methodist University, we've modeled a ten year student loan with an original principal value of $116,560. The loan balance of $116,560 is a four year multiple of the $29,140 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 $1,112 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 $116,560
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $1,112.11
Total Interest Paid $16,893.32
Sum of All Loan Payments $133,453.32

Projected 4 Year Degree Price

4 Year Sticker Price
Year All Residents
1 $81,074
2 $84,256
3 $87,562
4 $90,999

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Southern Methodist University to be $324,296 - assuming graduation in normal time. The estimation assumes a 3.9% 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 Southern Methodist University
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $2,234 $6,702 $8,936

Estimated cost for a class at Southern Methodist 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 Southern Methodist University versus other colleges.

Tuition Payment Plans Available

Southern Methodist University Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan Yes
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No
Costs for Similar Colleges 

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=228246 IPEDS survey data for Southern Methodist University.