Aspen University Tuition Fees: A Comprehensive Guide

Aspen University is an institution known for its flexible academic environment and focus on student dedication and motivation. Understanding the costs associated with attending Aspen University is crucial for prospective students and their families. This article provides a detailed overview of Aspen University's tuition fees, financial aid options, and other related expenses.

Understanding the Basics of Aspen University's Tuition and Fees

In 2020-2021, the average tuition and fees for undergraduate students at Aspen University amounted to $5,170 per year. This figure represents the amount charged to students for one academic year and does not include expenses such as room and board. It's important to note that Aspen University does not offer in-state tuition discounts, so the cost remains the same for all students regardless of their residency.

Breakdown of Tuition and Fees (2020-2021)

Tuition: $4,545
Fees: $625
Total Tuition & Fees: $5,170

How Aspen University's Tuition Compares Nationally and Regionally

When evaluating the cost of Aspen University, it's helpful to compare it to national and regional averages. The national average for out-of-state tuition and fees is $19,933 per year. Aspen University's tuition and fees of $5,170 per year make it a relatively inexpensive option.

Aspen University is considered inexpensive compared to other institutions nationwide, within the Rocky Mountains region, and specifically within Colorado.

Projected Tuition and Fees

It's essential to consider potential cost increases when planning your budget. Unless a school has advertised price freezes, tuition and fees are likely to increase annually.

Based on current trends, it's estimated that tuition and fees for the 2023-2024 academic year will be $6,264. If costs continue to grow at the same rate, students can anticipate being charged approximately $6,196 for the school year.

Estimated Total Cost

Two years: $13,020
Four years: $28,808

Remember to factor in additional costs such as room and board, transportation, and books when budgeting for college expenses.

Additional Expenses to Consider

Beyond tuition and fees, students should also account for the total cost of attendance, which includes:

Food and housing
Books and supplies
Transportation
Personal expenses

The net price, which is the average cost of the university after financial aid and scholarships are deducted from the total cost, should also be considered.

Financial Aid Options at Aspen University

Many students qualify for scholarships and financial aid that can significantly lower the amount they have to pay. Financial aid refers to funding that students can use to pay for college and is generally awarded based on need or merit.

Need-based aid is determined by your or your family’s demonstrated ability to pay for college, as calculated by the Free Application for Federal Student Aid (FAFSA). Need-based self-help aid includes federal loans and work-study. Merit-based aid, also called non-need-based aid, is awarded for a specific talent or athletic or academic achievement.

Types of Financial Aid Available

Federal Pell Grants: These are federally funded, need-based grants for college students that do not need to be repaid as long as the student remains eligible. Pell Grants are usually awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor’s, graduate, or professional degree.
Federal Direct Loans: These loans are available to both undergraduate and graduate students through the U.S. Department of Education. Aspen University currently offers Federal Direct Subsidized, Federal Direct Unsubsidized, and Federal Direct Parent/Graduate PLUS loans.
- Federal Direct Subsidized Loans: These are loans made to eligible undergraduate students who demonstrate financial need. The eligible amount cannot exceed the student’s financial need.
- Federal Direct Unsubsidized Loans: These are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need. The U.S. Department of Education defers repayment of the loan principal while the student is enrolled at least half-time and for the first six months after the student leaves school.
- Federal Direct PLUS Loans: These are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required.

Loan Limits

For an undergraduate student, the maximum amount you can borrow each year in Direct Subsidized Loans and Direct Unsubsidized Loans ranges from $5,500 to $12,500 per year, depending on what year you are in school and your dependency status.
For a graduate or professional student, you can borrow up to $20,500 each year in Direct Unsubsidized Loans.

A student borrower who has reached their aggregate loan limit may not receive additional loans.

Scholarships

Scholarships are a type of funding that you don’t need to pay back. Need-based scholarships take a student’s financial status into account. Merit-based scholarships are awarded to students for academic or athletic achievement. 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.

Student Loan Debt at Aspen University

The amount of student loan debt you accumulate can significantly affect your financial life after college. Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate.

Read also: Criteria for the Aspen Prize

At Aspen University, the median federal loan debt among borrowers who completed their undergraduate degree is $15,756. 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 $167.

Monthly Payment Plan

Aspen University offers a Monthly Payment Plan, which is a private education loan with a 0% fixed rate of interest (0% APR) and no down payment. This plan allows students to build the cost of their degree into their budget.

Additional Resources

Net Price Calculator: Use Aspen University's net price calculator to estimate the costs to attend for one year. This calculator provides general guidance in planning your educational financing and is not an application for financial aid.
Student Loans: Explore options from lenders like Sallie Mae, College Ave, and Ascent Funding. These lenders offer fixed and variable APR options with autopay discounts.

Special Programs and Discounts

Employee Tuition Discount Partnerships: Aspen University maintains employee tuition discount partnerships with a large and growing number of organizations. Aspen University also extends this tuition discount to all VA Health Care System employees.
Tuition Assistance (TA) for Military Personnel: If you are active duty, reserves, or guard, speak to your Education Officer about Tuition Assistance (TA) that you may be eligible to receive.
Veterans Benefits: Aspen University is approved by the Arizona State Approving Agency for Veterans Benefits.

Cost of Attendance (COA)

The cost of attendance (COA), sometimes referred to as a student budget, is an estimate of the total amount of your educational expenses associated with attending Aspen University each academic year.

Deferment of Tuition and Fee Charges

Students who are employed by an organization that is in an established direct billing contract with Aspen University may be able to defer the payment of tuition and fee charges that the employer has contracted to pay to the University. Students should contact their employer to determine if they are eligible for this benefit.

Master of Education (MEd) Degree Program Costs

Aspen University offers a Master in Education degree designed for experienced educators seeking to update their existing skill set. This program aims to benefit education professionals from a variety of disciplines by allowing students to customize their degree through choosing a specialization that fits their goals.

Paying for your MEd shouldn’t be complicated. The monthly payment plan is a private education loan with a 0% fixed rate of interest (0% APR) and no down payment.

Campus and Facilities

Aspen University's Tampa campus is brand new and offers state-of-the-art high-tech fidelity simulators and individual hospital simulator rooms, including a home health firm. The skills lab includes six hospital beds, and the simulated hospital includes four hospital rooms with hospital beds and the simulated environment. Additionally, students will engage in high-fidelity simulations where they will carry out required care.

Accreditation

Aspen University is accredited by the Distance Education Accrediting Commission (DEAC). 4605 E.

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