Many students and parents are shocked by the high tuition at many Boston area colleges. Unfortunately, this can be discouraging, and some students may decide not to apply for that reason. Before you go down that road, please realize that the list price of a college is not what most students pay.
As a matter of fact, the prices you see advertised by colleges are called the sticker price. This price includes basic tuition, books, room and board, as well as personal expenses and fees. However, this is not what most students pay. In fact, only 12% of students pay this price. Students must pay a much lower price. So here comes the good news...
Average Net Price - Sounding Better...
The actual out-of pocket cost that students pay for college is called the Net Price. It includes tuition, room and board, books and includes any grants and college scholarships for which a student is eligible. This number is a good starting point for what you have to pay and to compare the actual cost of colleges. Please note that this is the average Net Price so you may pay more or less depending on your families income and other factors
Boston Area Colleges Examples - Sticker Price vs Average Net price
|
Sticker Price |
Average Net Price |
|
|
Harvard University |
$73,800 |
$18,030 |
|
Boston University |
$75,200 |
$29,479 |
|
UMASS (Out of State) |
$55,749 |
$17,511 |
|
Simmons University |
$61,100 |
$30,841 |
|
Regis College |
$61,605 |
$32,047 |
|
Endicott College |
$53,099 |
$36,498 |
The Net Price you actually pay...
So how much do you have to pay? Your cost for a college or Net Price depends on a number of factors such as family income, grants and scholarships. For example the Net Price for Boston University can vary based on family income shown below.
Boston University Net Prices based on Family Income (2018, 2019)
|
Family Income |
Net Price |
|
$0 to $30,000 |
$12,903 |
|
$30,001 to $48,000 |
$13,256 |
|
$48,001 to $75,000 |
$20,231 |
|
$75,001 to $110,000 |
$31,075 |
|
$110,000+ |
$48,048 |
Finding out your personal Net Price
To find your actual net price, you can use the net price calculator on the company's website. You can enter information about yourself and get an estimate of your actual cost or net price. Be aware that these calculators give you an approximate price, and the final price will be stated once you are accepted. However, it is a good starting point and will be in the general ballpark.
There is a government website that lets you link directly to the net-price calculators of any college you are interested in.
