Hello. I was accepted into D’Amore Mckim for BSBA for the fall of 2016. I didn’t receive merit scholarship, nor did I request for financial aid. My parents are okay with paying upto about $70K a year. However, my father came across something on the internet where he read that the entire cost goes upto $83K a year. Can a current student at D’Amore McKim please help with how much do the costs go up to usually for people without any kind of aid? I wouldn’t want to end up in a difficult situation after a year or 2 into studying. Thank you!
Costs will increase about 4% per year for all students at all private universities. Where did you father read this?
At the end of your fifth year (if you did a 5 year plan), assuming the 4%, your cost would be just about 70k. Your average cost would be 65k a year. Even at a 4% increase rate, tuition will not hit 83k until 2024. If it does get there, there’s going to be a bigger problem with higher education beyond any school in particular as most all have this annual rise. This link shows the extrapolation.
http://www.savingforcollege.com/tutorial101/the_real_cost_of_higher_education.php
In terms of the effects on you, as said your average cost will still be relatively similar to the current cost at about 5k per year more. It should be noted that if you have any aid or merit money, this scales with the rise in tuition.
Thank you so much, that is a relief to hear!