Millikin University

In 2022, tuition for full-time students at Millikin University was $42,778 a year.

In 2023, tuition increased 5%–from $40,740 the prior year. Usually, colleges raise tuition about 3% each year.

Remember, the advertized cost of tuition does not mean much if you plan to use financial aid to help pay for college. Many students owe much less than the total tuition after grants, scholarships, and tuition discounts are applied. And, student loans can make the amount you do have to pay out of pocket feel more doable until after graduation.

Millikin University meets 87% of the demonstrated financial need for undergraduates. The average financial aid package for a full-time, first-year student at Millikin University is around $33,444 a year.

Students in the class of 2023 who had taken out student loans graduated with an average of $36,725 of debt.

Millikin University: In-state vs. Out-of-State Tuition

Millikin University is a private, nonprofit institution, so it has the same tuition for residents of Illinois as it does for students who live in other states.

Public schools receive funds from the state to help them cover costs. These institutions offer reduced tuition for students who are residents of that state.

Choosing a college where you qualify for in-state status can cut the cost of college tuition. Take the time to confirm your state's rules for in-state residency. Each state has different requirements to qualify as in-state resident. The most common requirement is that students must have lived in the state for a full year before starting school. There may be additional requirements too, depending on where you live.

Explore other Illinois colleges

Millikin University International Student Tuition

Millikin University has the same tuition for international students as for those from out of state.

Students from outside of the U.S. are not eligible for loans or grants from the U.S. government, but may be eligible for private or school-specific aid and scholarships. International students who demonstrate financial need may be eligible for the following types of financial support at Millikin University:

•Millikin University-specific scholarships

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

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Millikin University Room, Board, Fees, and More

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

House and Food Costs at Millikin University

Room and board at Millikin University is $12,916 a year. This includes the cost of living in dorms or other on-campus housing, and a meal plan that allows you to eat in the Millikin University's on-campus cafeterias and dining halls.

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

How Much Do Books Cost at Millikin University?

The cost of books often surprises first-year college students. The actual cost of books and supplies 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 used textbooks and materials.

Annual Fees

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

Keep in mind, there could also be optional fees associated with participating in certain activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Most colleges offer ways so that those who may struggle to participate because of cost can get help covering these fees.

The Cost of Transportation at Millikin University

The total cost of transportation in college depends on a few key factors. Will you take a subway, car or an airplane to get to school? Will you need to pay to park on-campus? Is the campus small enough that you can easily walk from class-to-class?? Do you own a car, or are you planning to use busses, subways, or other modes of transportation? All of these factors can drastically impact your transportation budget. At Millikin University, freshman are allowed to park on campus.

A school's location can also have a big effect on transportation costs. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the flip side, getting around in a city could be costly, but there may be more buses, trains or affordable flights to actually get to school. Millikin Universityis in a suburb in Illinois.

Other Costs

When creating a budget for college, don’t forget to leave some room in your budget for the cost of things like movies, takeouts, furniture or appliances for your dorm or housing, and essentials like laundry detergent, toothpaste and toilet paper.

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Total Tuition and Expenses at Millikin University

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Now, let’s do a rundown of all of the costs associated with college, to get a better idea of what is really costs to go to Millikin University.

Total Cost of Millikin University

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

2023 Total Tuition and Expenses
Tuition	$42,778
Room and Board	$12,916
Other expenses	$2,100

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

Total Estimated Costs
On-Campus	$58,586
Off-Campus	$47,570

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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Financial Aid at Millikin University

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The majority of Millikin University undergrads use financial aid to finance their education. In 2023, 1,308 of the 1,715 undergrads enrolled received financial aid. Millikin University meets 87% of the demonstrated financial need for undergraduates.

The average financial aid package for a full-time, first-year student is around $33,444 a year. Around 74% of Millikin University undergrads take out student loans to cover any remaining costs. Millikin University graduates who have student loans graduate with an average of $36,725 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans	$25,902
Private Loans	$40,225

Most Common Loans for Millikin University Students
Federal Loans	73%
Private loans	21%

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 Millikin University financial aid, keep reading, or visit their financial aid website.

Scholarships at Millikin University

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, Millikin University awarded 1,140 need-based scholarships to students, giving away total of $14.2 million to help students with financial need cover the cost of school. An additional $31.76 million in merit-based scholarship money was awarded to students without demonstrated financial need.

Net Cost of Millikin University

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 Millikin University 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 Millikin University was $33,444 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Millikin University seem more manageable.

Estimated Net Cost for Full-Time Students
On-Campus	$25,142
Off-Campus	$14,126

What will attending Millikin University 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 get a better idea of the actual cost of attending that school, based on their financial situation. You can find the Millikin University's net cost calculator on their website.

Millikin University Tuition Payment Plans

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

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

Does Millikin University Offer Tuition Waivers?

Schools sometimes offer tuition waivers to certain groups, to offset the cost of attending. Some colleges offer tuition waivers for employees and their family members, underrepresented students, or military students. Even if you qualify for a waiver, other expenses and fees are the responsibility of the student.

Millikin University has some full or partial tuition waivers available for: - Employees or Children of Employees

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

Millikin University'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.

Millikin University's endowment was valued at $102.2 million in 2023, compared to a national average of $905 million. For each full-time student, Millikin University spends about $25,872 a year.

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Learn More About Millikin University

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To learn more about Millikin University, choose from the options below:

Overview

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