Lake Forest College

In 2022, tuition for full-time students at Lake Forest College was $53,300 a year.

In 2023, tuition increased 2.5%–from $52,000 the previous year. Usually, college tuition goes up about 3% every year.

If these numbers seem daunting, remember, the displayed price of tuition does not give you all the info you need to know how much you will actually have to pay for college. Many students pay a lot less than the total tuition after grants, scholarships, and tuition discounts kick in. Plus, student loans can make theprice of collegefeel more doable until after graduation.

Lake Forest College meets 90% of the demonstrated financial need for undergraduates. First-year students that attend Lake Forest College full-time are awarded $50,780 a year in financial aid, on average.

Graduates in the class of 2023 had an average of $31,412 in student loans per borrower.

Does Lake Forest College Offer In-State and Out-of-State Tuition?

Lake Forest College is a private, nonprofit institution, which means it has the same tuition for residents of Illinois as it does for students who live in 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.

Attending a school where you are eligible for in-state tuition can save on the total cost of attending college. Take the time to verify your state's eligibility criteria for in-state tuition. Every state has its own rules about what makes someone eligible for in-state tuition. In many states, students must have lived in the state for 12 months before starting school to qualify for in-state tuition. There may be additional requirements as well, depending on the state you and your parents currently live in.

Explore other Illinois colleges

Tuition for International Students at Lake Forest College

Lake Forest College has the same tuition for international students as for those from out of state.

Students from outside of the U.S. usually do not qualify for for federal financial aid, but should research private or Lake Forest College-specific grants, scholarships, and other funding opportunities. International students with need may be eligible for the following types of financial support at Lake Forest College:

•On-campus jobs •Lake Forest College-specific scholarships

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

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Lake Forest College Living Expenses, Fees, and More

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Tuition is not the only cost of attending college; 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 Lake Forest College.

House and Food Costs at Lake Forest College

Housing and campus dining at Lake Forest College costs $12,480 a year. This covers the cost of living in dorms or other on-campus housing, plus a meal plan that enables you to eat in the Lake Forest College's on-campus cafeterias and dining halls.

Meal-plan costs vary based on on the number of meals you intend to eat on-campus

How Much Do Books Cost at Lake Forest College?

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

Yearly Fees

Most schools charge some yearly fees to help cover the cost of facilties, like the library, gym and computer labs.

There may be other costs associated with participating in special activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Most colleges have resources for students who may struggle to participate because of cost can get help covering these costs.

The Cost of Transportation at Lake Forest College

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 easy to get around on foot? Do you plan to bring a car or are you planning to use busses, subways, or other modes of transportation? All of these questions can make a big difference in your transportation budget. Keeping in mind, first-year students are not allowed to park a car on campus.

The location of a college or university can also have a big effect on the amount you'll have to spend just to get around. 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 often pricey, but there may be more trains, busses or affordable flights to actually get to school. The Lake Forest College campus is in a suburb in Illinois, not far from Chicago.

Other Costs

When you're planning for college, be sure to consider personal expenses, like movies, takeouts, furniture or appliances for your dorm or housing, and essentials like laundry detergent, toothpaste and toilet paper.

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Financial Breakdown for Lake Forest 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 Lake Forest College.

Total Cost of Lake Forest College

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

2023 Total Tuition and Expenses
Tuition	$53,300
Room and Board	$12,480
Other expenses	$1,948

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

Total Estimated Costs
On-Campus	$68,630
Off-Campus	$56,150

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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Lake Forest College Financial Aid

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The majority of Lake Forest College undergrads use financial aid to help pay for school. In 2023, 1,355 of the 1,727 undergrads enrolled received financial aid. Lake Forest College meets 90% of the demonstrated financial need for undergraduates.

The average financial aid package for a full-time, first-year student is around $50,780 a year. Around 60% of Lake Forest College undergrads take out student loans to cover any remaining costs. Lake Forest College graduates who have student loans graduate with an average of $31,412 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans	$21,117
Private Loans	$41,112

Most Common Loans for Lake Forest College Students
Federal Loans	60%
Private loans	12%

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 Lake Forest College financial aid, keep reading, or visit their financial aid website.

Scholarships at Lake Forest 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.

In 2023, Lake Forest College awarded 1,355 need-based scholarships to students, giving away total of $60.9 million to help students with financial need cover the cost of school. An additional $12.54 million in merit-based scholarship money was awarded to students without demonstrated financial need.

Net Cost of Lake Forest College

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 Lake Forest 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.

The average amount of financial aid received by a full-time first year student with demonstrated need at Lake Forest College was $50,780 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Lake Forest College seem more manageable.

Estimated Net Cost for Full-Time Students
On-Campus	$17,850
Off-Campus	$5,370

What will attending Lake Forest 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 Lake Forest College's net cost calculator on their website.

Lake Forest College Tuition Payment Plans

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

Lake Forest College does not have guaranteed tuition.

Lake Forest College offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.

Lake Forest College Tuition Waivers

Schools sometimes waiver tuition for certain groups, to offset the cost of attending. Some colleges offer tuition waivers for faculty, staff, and their families , 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.

Lake Forest 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.

Lake Forest College's endowment was valued at $103.4 million in 2023, compared to a national average of $905 million. For each full-time student, Lake Forest College spends about $12,337 a year.

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Learn More About Lake Forest College

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