Southern Methodist University

In 2022, tuition for full-time students at SMU was $57,212 a year.

In 2023, tuition increased 4%–from $55,012 the prior year. Usually, college tuition goes up about 3% every year.

If this information makes going to college sound impossible, 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 sticker price after grants, scholarships, and tuition discounts are applied. Additionally, student loans can make the amount you do have to pay for college feel more doable until after graduation.

Southern Methodist University meets 85% of the demonstrated financial need for undergraduates. First-year students that attend Southern Methodist University full-time are awarded $51,726 a year in financial aid, on average.

Students in the class of 2023 who had taken out student loans graduated with an average of $35,324 of debt.

In-state vs. Out-of-state Tuition at Southern Methodist University

Southern Methodist University is a private, religious institution, so it has the same tuition for students from Texas 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 an insitution where you are eligible for in-state tuition can drastically reduce the overall cost of college. Take the time to confirm your state's guidelines for how to qualify for in-state residency. Every state has its own rules about what makes someone eligible for in-state tuition. The most common requirement is that students must have lived in the state for a full year before starting school. There may be other criteria as well, depending on the state you and your parents currently reside in.

Explore other Texas colleges

Tuition for International Students at Southern Methodist University

Tuition at Southern Methodist University is the same for each student.

International students are not eligible for federal financial aid, but should research private or school-specific aid and scholarships.

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

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Southern Methodist University 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 Southern Methodist University.

House and Food Costs at Southern Methodist University

Room and board at Southern Methodist University is $18,230 a year. This covers the cost of living in dorms or other on-campus housing, and a dining plan that allows you to eat all or some of your meals the Southern Methodist University's on-campus cafeterias and dining halls.

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

How Much Do Books Cost at Southern Methodist University?

The cost of books often surprises first-year college students. The real cost of books and supplies depends on the courses you take and the materials required. 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

Most schools also have fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.

Keep in mind, there could also be optional fees associated with participating in special activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Many schools offer resources for students who may struggle to participate because of cost can find ways to lower or eliminate these fees.

Planes, Trains, and Automobiles: Transportation costs at Southern Methodist University

The cost of transportation in college depends on a few key factors. Will you drive, fly, or take public transportation 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 plan to bring a car or will you need to use busses, subways, or other modes of transportation? All of these questions can make a big difference in your transportation budget. At Southern Methodist University, freshman are allowed to park on campus.

Where are a college is located 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 other hand transportation in a city is often expensive, but there may be more buses, trains or affordable flights to actually get to school. Southern Methodist Universityis located in a city in Texas, not far from Dallas-Fort Worth.

Other Costs

When estimating your budget for college, be sure to take into account 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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Financial Breakdown for Southern Methodist 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 the actual cost of attending Southern Methodist University.

How Much Does Southern Methodist University Cost?

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

2023 Total Tuition and Expenses
Tuition	$57,212
Room and Board	$18,230
Other expenses	$1,600

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

Total Estimated Costs
On-Campus	$84,290
Off-Campus	$66,060

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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Southern Methodist University Financial Aid

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In 2023, 2,002 of the 7,080 undergrads enrolled received financial aid. Southern Methodist University meets 85% of the demonstrated financial need for undergraduates.

The average financial aid package for a full-time, first-year student is around $51,726 a year. Around 29% of Southern Methodist University undergrads take out student loans to cover any remaining costs. Southern Methodist University graduates who have student loans graduate with an average of $35,324 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans	$18,716
State Loans	$69,162
Southern Methodist University-Specific Loans	$5,430
Private Loans	$50,632

Most Common Loans for Southern Methodist University Students
Federal Loans	28%
State loans	2%
Institutional Loans	2%
Private loans	7%

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 Southern Methodist University financial aid, keep reading, or visit their financial aid website.

Scholarships at Southern Methodist 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, Southern Methodist University awarded 1,948 need-based scholarships to students, giving away total of $77.6 million to help students with financial need cover the cost of school. An additional $76.23 million in merit-based scholarship money was awarded to students without demonstrated financial need.

Net Cost of Southern Methodist 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 Southern Methodist 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 Southern Methodist University was $51,726 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Southern Methodist University seem more manageable.

Estimated Net Cost for Full-Time Students
On-Campus	$32,564
Off-Campus	$14,334

What will attending Southern Methodist 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 make more informed decisions about the actual cost of attending that school, based on their financial situation. You can find the Southern Methodist University's net cost calculator on their website.

Southern Methodist University Tuition Payment Plans

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

Southern Methodist University does not have guaranteed tuition.

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

SMU Tuition Waivers

Schools sometimes waiver tuition for certain groups, to make attending more affordable. Some schools 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.

SMU 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.

Southern Methodist 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.

Southern Methodist University's endowment was valued at $2 billion in 2023, compared to a national average of $905 million.

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Learn More About Southern Methodist University

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

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