Asbury University Tuition, Fees, and Financial Aid: A Comprehensive Guide

Choosing a university is a significant decision, and understanding the costs involved is a crucial part of the process. Asbury University, a private institution, offers a unique financial landscape for prospective students. This article provides a comprehensive overview of Asbury University's tuition, fees, financial aid options, and other associated costs, to help you make an informed decision.

Understanding the Sticker Price: Tuition and Fees

Asbury University's tuition is $34,342. Asbury University's annual tuition is $33,072, the cost is the same for both in-state and out-of-state students. This figure includes both tuition and fees, often referred to as the "sticker price." Compared with the national average cost of tuition of $46,950, Asbury University is cheaper. Fees differ by institution and may fund library services, student gym facilities, student centers, technology resources and campus health centers.

Beyond Tuition: Total Cost of Attendance

As you're comparing costs of different institutions, also consider the total cost and the net price. The total cost is the sticker price, plus the cost of food and housing, books and supplies, and transportation and personal expenses. At Asbury University, the total cost is $49,116. Room and board fees are an additional $9,616. On campus room and board is provided by the school at a cost of $9,616 per academic year. If living on-campus, students should budget for $3,272 in additional living expenses. Other costs include books and supplies ($1,200 per year), personal expenses ($1,590 per year), and transportation ($1,862 per year).

Net Price: A More Realistic Estimate

The average reported annual net price for Asbury University for students receiving grants or scholarship aid was $21,375 in 2019/2020. The net price provides a more realistic estimate of the true cost of attending Asbury University, once common grants and scholarships have been taken into account. Your net price is a college’s cost of attendance minus the grants and scholarships you receive. The net price you pay for a particular college is specific to you because it’s based on your personal circumstances and the college’s financial aid policies. Use the college’s Net Price calculator for the most accurate estimate of your net price.

Financial Aid: Making Education Accessible

Financial aid can include grants, loans, scholarships and work-study jobs. Financial aid packages vary depending on your financial need. Most colleges determine financial need based on your FAFSA. Financial aid is only available to those who qualify. 100% of full-time undergrad Asbury 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 $24,903 per student during the 2019/2020 school year. Asbury University met 77% of its students’ financial aid need. Read below to learn more about the types of aid available.

Read also: Legacy of Asbury University

Distribution of Aid

Students Receiving Financial Aid42%. Freshmen With Need and Received Financial Aid100%. Applied for need-based aid. Received need-based financial aid. Received need-based self-help aid. Average percent of need met.

Types of Financial Aid Available

Asbury University offers a variety of financial aid options for its students, with 100% of them receiving some form of assistance. Grants are also available to students, further expanding the financial support options.

Scholarships and Grants

Scholarships and grants don’t need to be paid back. The average need-based scholarship or grant awarded to first-year students at Asbury University was $35,061. Types of need-based scholarships/grants available.

Loans

Loans must be paid back. The typical amount of loans a student must pay back is $35,661.

Work-Study

Working while in school can help lessen the burden of your student loans. Schools offer work-study programs to those who qualify and campus jobs to students looking to earn money in their free time. Some institutions match students with work-study positions, while others require them apply to the positions, like they would for any other job.

Read also: Your Guide to Asbury Scholarships

Average Aid Packages

Average Aid Packages Awarded$45,457. Need-Based Scholarship or Grant Award$31,317. Need-Based Loan Amount$4,356. Non-Need-Based Aid$21,921.

Important Financial Aid Dates

Application DueNot available. The last day to apply for financial aid or turn in related paperwork. Priority Application DueNot available. Applications received prior to this date will be given the strongest consideration. Still apply for financial aid if you don’t make this due date. Notification DateNot available. When students receive a letter with the amount and types of aid the college is offering. Response DueNot available. The deadline for students to respond to the college’s aid offer.

Understanding Different Types of Aid

Need-Based Aid

Need-based scholarships take a student’s financial status into account. The average need-based scholarship or grant awarded to first-year students at Asbury University was $35,061. Additionally, 43% of first-year students received need-based financial aid in fall 2023. Need-based self-help aid includes federal loans and work-study. The average need-based self-help aid awarded to first-year students was $3,991.

Merit-Based Aid

Merit-based aid, also called non-need-based aid, is awarded for a specific talent or academic achievement. The average non-need-based scholarship or grant awarded to first-year students at Asbury University - excluding any athletic scholarships, if applicable - was $22,873.

Scholarships: Funding You Don't Repay

Scholarships are a type of funding that you don’t need to pay back. You might also qualify for a scholarship based on your community service involvement, unique hobbies or traits, your personal background, or a parent’s employer or military affiliation. Some students receive enough in scholarship money to cover their tuition and living expenses. See the types of scholarships and grants available at Asbury University below.

Federal Pell Grants

Federal Government. The average Pell Grant awarded for 2019/2020 was $5,044. To apply for a Pell Grant to attend Asbury University, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Student Loan Debt: Planning for the Future

How much student loan debt you accumulate can affect your financial life long after college ends. Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate. At Asbury University, the median federal loan debt among borrowers who completed their undergraduate degree is $24,028. The median monthly federal loan payment (if it were repaid over 10 years at 5.05% interest) for student federal loan borrowers who graduated is $255. Additionally, 10% of graduating students at Asbury University took out private loans. Students with private loans had an average of $40,881 in private loan debt at graduation. Average Total Indebtedness of 2024 Graduating Class$35,661. Graduating students who have borrowed (any loan type, 2024)45%.

Estimating Loan Repayments

CollegeSimply has modeled example payment coverage for the annual tuition and living expenses of $47,990. Department of Education, Asbury University or other organizations. Department of Education. To gauge a more realistic picture of what it really could cost you out of pocket to go to Asbury University, we've modeled a ten year student loan with an original principal value of $85,500. The loan balance of $85,500 is a four year multiple of the $21,375 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 $972 could be required to pay off your student loan.

Responsible Borrowing

Federal Student Loans are not grants and must be repaid with interest. In order to afford student loan payments and still meet all your other costs of living, it is recommended not to borrow more than you can pay back using 10% of your monthly income earned after graduation. If you're considering attending Asbury University, should consider if it will be realistic to make the post graduation loan payments based on your expected salary. a $972.14 monthly payment in the example $85,500.00 loan modeled above. This assumes a repayment over 10 years. You can change the terms of this example loan using the student loan calculator below. View statistics about Asbury University student loan debt and graduate salaries under student outcomes.

Work-Study and On-Campus Employment

Asbury University offers a variety of work-study, internship, and on-campus employment opportunities for its students. The Office of Career & Calling at the university provides resources for students to find job postings, register for career fairs, and participate in on-campus recruiting events. Additionally, students can use Handshake, a job posting platform, to discover job opportunities and manage on-campus recruitment activities. On-campus employment opportunities are available for students who wish to work part-time while studying. These opportunities include positions in the library, dining services, and various administrative offices. In addition to on-campus employment and internships, Asbury University offers work-study opportunities for eligible students. Work-study is a federally funded program that provides part-time employment for students who demonstrate financial need. The university offers a variety of positions, such as administrative assistants, research assistants, and library assistants.

Military Benefits

In addition to general financial aid, Asbury University also provides military benefits for eligible students. Both graduate and undergraduate students can receive an average amount of 14,425 USD in military benefits. Institution is G.I. Bill certified Yes. Institution participates in Yellow Ribbon Program Yes.

Additional Costs and Considerations

For a traditional undergraduate resident student, the average basic cost of attending Asbury University can include tuition, housing, meals, vehicle registration, student activity fee and books. Throughout the school year, students make decisions or utilize services that may impact the bill. Student Insurance: All full-time undergraduate students are required by Asbury University to carry minimum medical insurance. During Financial Registration, students must provide proof of adequate coverage elsewhere or enroll in the medical insurance plan offered by the University. Books/Supplies: Asbury University students may order books from Asbury’s virtual bookstore and charge the purchase to their student account. Library and Parking Charges: Library charges for overdue books and unreturned materials should be paid at the Library. Parking fines should be paid at the Cashier’s Office. Estimated cost for a class at Asbury University based on published credit hour prices. Note that not all schools allow single class enrollment.

Asbury University: A Cost-Effective Option?

Asbury University, a private institution, offers a unique financial perspective for prospective students. The cost of tuition and fees at Asbury University is $33,146 annually, which places it in the bottom 50% of colleges and universities in terms of cost. This is significantly lower than the average annual cost of $54,501 for private non-profit four-year colleges in the United States. The typical room charge for an academic year is $5,126, which is in the bottom 25% of charges, while the typical board charge is $3,510, placing it in the bottom 15%. This brings the total room and board charges to $8,636 annually, which is also in the bottom 20% of charges. Comparing these costs to the average total annual costs of studying in the US, Asbury University presents a more affordable option.

Determining Value

To make a comparative assessment if Asbury University is worth the price, measures of it's relative value for tuition dollar can be examined. We've calculated an academic national percentile rating of 58.32/100 for Asbury University. Considering an average net price paid of $21,375, this leads to an overall value ranking of 60/100. Modify the loan assumptions to fit your financial situation and likely tuition price.

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