Ferrum College

In 2022, tuition for full-time students at Ferrum College was $36,480 a year.

Tuition was the same price in 2023 compare to the year before. On average, colleges raise tuition about 3% each year.

Remember, the total cost of tuition isn't the final cost for attending college. Many students find the actual cost of college is a lot less than the total tuition after grants, scholarships, and tuition discounts kick in. And, student loans can make thecost of college feel more doable until you're done with college.

For information on Ferrum College's financial aid options for first-year students, check with the school directly.

The average student debt for graduates in the class of 2023 was around $24,834 per student, not including those with no debt.

Does Ferrum College Offer In-State and Out-of-State Tuition?

Ferrum College is a private, religious institution, so it has the same tuition for residents of Virginia as it does for residents from other states.

Public colleges and universities receive funding from the state government. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.

Choosing a school where you qualify for in-state tuition can drastically reduce the overall cost of college. Take the time to confirm your state's eligibility criteria for in-state tuition. Each state has different requirements to qualify as in-state resident. Most states require students to have resided in the state for a certain period of time before qualifying. There may be additional requirements as well, depending on the state you and your parents currently reside in.

Explore other Virginia colleges

Do International Students Pay More to Go to Ferrum College?

Tuition at Ferrum College is the same for every student.

Students from outside of the U.S. usually do not qualify for for loans or grants from the U.S. government, but should research private or school-specific aid and scholarships. International students who demonstrate financial need may be eligible for the following types of financial support at Ferrum College:

•Ferrum College-specific scholarships

International students without financial need may be eligible for merit-based institutional scholarships.

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Ferrum College Room, Board, Fees, and More

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In addition to the cost of tuition, room and board, books, transportation and fees are also costs it consider when planning for college. Let's take a look at what impacts these costs, and what to expect at Ferrum College.

Room and Board Costs at Ferrum College

Room and board at Ferrum College is $12,910 a year. This includes the cost of living in dorms or other on-campus housing, and a dining plan that enables you to eat all or some of your meals the school dining facilities.

Board costs may vary depending on how many meals are included in the plan you choose.

Cost of Books at Ferrum College

First-year students are sometimes surprised by how much books and supplies cost–and not in a good way. The real cost of books depends on the courses you take and what kinds of books and materials they require. To save money, many students choose to use books from the library or buy books from students who have already taken the course.

Annual Fees

The majority of colleges also have fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.

There may be other costs associated with participating in certain activities, like Greek Life, or playing on an intramural sports team. Many schools have resources for students with demonstrated need to get help covering these fees.

Transportation costs

The cost of transportation in college can really vary. Will you drive, fly, or take public transportation to school? Is on-campus parking free, or will you need to budget for parking? Is the campus walkable? Do you own a car, or are you planning to use busses, subways, or other modes of transportation? All of these questions can drastically impact your estimated cost of transportation. At Ferrum College, freshman are allowed to park on campus.

A school's location can impact your transportation budget. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the flip side, transportation in a city is usually costly, but cities may offer more trains, busses or affordable flights to actually get to school. The Ferrum College campus is in a rural area in Virginia.

Other Costs

When estimating your budget for college, be sure to leave some room in your budget for personal expenses, like entertainment, clothes, furnishings and toiletries.

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Financial Breakdown for Ferrum College

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Now, let’s look at the breakdown of all expenses, to get a better estimate of the actual cost of attending Ferrum College.

How Much Does Ferrum College Cost?

What will the cost of attending Ferrum College be? Here is a breakdown of tuition and expenses.

2023 Total Tuition and Expenses
Tuition	$36,480
Room and Board	$12,910
Other expenses	$1,500

The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.

Total Estimated Costs
On-Campus	$52,490
Off-Campus	$38,580

The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.

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Ferrum College Financial Aid

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Around 79% of Ferrum College undergrads take out student loans to cover any remaining costs. Ferrum College graduates who have student loans graduate with an average of $24,834 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans	$2,353
Private Loans	$22,493

Most Common Loans for Ferrum College Students
Federal Loans	13%
Private loans	10%

Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.

The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Ferrum College financial aid, keep reading, or visit their financial aid website.

Scholarships at Ferrum College

Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.

Ferrum College Net Cost

The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.

Now that we have a sense of the total estimated costs for Ferrum College students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.

When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.

By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Ferrum College seem more manageable.

What will attending Ferrum College really cost you? The answer depends on several factors.

As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families understand the actual cost of attending that school, based on their financial situation. You can find the Ferrum College's net cost calculator on their website.

Ferrum College Tuition Payment Plans

Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.

Students cannot pay tuition in installments. Contact the financial aid office to verify this and discuss options.

Ferrum College Tuition Waivers

Schools sometimes offer tuition waivers to certain groups, to make attending more affordable. Some colleges offer tuition waivers for employees and their family members, underrepresented students, or military students. Even if you qualify for a waiver, students are usually responsible for housing, meal plans, and other expenses.

Check the financial aid website for more information on payment plans and tuition waivers.

Ferrum College's Endowment

An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.

For more information about Ferrum College's endowment, check with the school directly.

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Learn More About Ferrum College

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