Affordability
Dollars and Sense
College is an extraordinary learning experience. We believe it should be an affordable one, too. That’s why we’re investing in students just like you, from families just like yours.
This chart shows the percentage of families who apply for financial aid, grouped by income level.
But College is Expensive, Right?
True, especially if you look at the sticker price alone.
But don’t stop there! Let’s make sense of how much you’ll really pay.
The sticker price cost includes these three categories:
- $28,320: Tuition
- $5,430: Room
- $6,000: Board
But, the sticker price is not what most Principia families pay.
Percent of Students Who Apply for and Receive Financial Aid: 97%
Here’s a quick lesson on sticker price vs. actual cost (net price).
Because the sticker price includes tuition, room, and board, it can be overwhelming. $38,510 is big, but don’t be alarmed by its size.
Scholarships
We reduce that sticker price by awarding scholarships—up to $32,710 (100% tuition and room)—based on merit.
Grants
Then we cut out more dollars with grants—up to $32,000—based on need.
Loans
Finally, we subtract student loans—up to $6,000.
Actual Cost
That’s what remains after scholarships, grants, and loans have been applied. This number is often referred to as the net price.
Average financial aid package for new students: $31,608
So what will I pay?
Because you’re much more than a financial formula, your actual cost will be unique to you and tailored to your family’s situation, taking into consideration merit, need levels, and other criteria.
98% of new students were awarded scholarships and/or grants— money that doesn’t need to be repaid.
But will I graduate owing the equivalent of a mortgage in student loans?
No way! But that’s a great question given so much talk about rising student debt.
In fact, 40% of students graduate from Principia with ZERO debt!
Among Principia students who’ve taken out loans, their average four-year loan amount is $22,096—37% less than the national average. (Source: Mark Kantrowitz, Edvisors.com)
$6,000. That’s the maximum loan amount Principia awards per year to ensure that students don’t graduate with crushing levels of debt.
What Others Say about Our Affordability
Principia College is frequently recognized for value and affordability. Here are a few recent reviews and rankings:
LendEDU ranked us in the top 10 percent in the nation for students graduating with low amounts of debt.
U.S. News & World Report's ranked us #14 on its list of colleges with the highest quality education for the lowest price.
Kiplinger ranked us in the top 20 percent in the nation for best college value in 2016.
Of course, an affordable education isn’t much of a bargain unless it comes with exceptional value—and students graduate from Principia with a long list of noteworthy accomplishments and are well prepared for wherever their journey takes them.