Understanding Albertus Magnus College Tuition and Fees

Albertus Magnus College, a private institution founded in 1925, offers a liberal arts education in a suburban setting in New Haven, Connecticut. Understanding the costs associated with attending this college is crucial for prospective students and their families. This article provides a comprehensive overview of Albertus Magnus College's tuition, fees, financial aid options, and other related expenses.

Albertus Magnus College: An Overview

Albertus Magnus College is ranked No. 98 in Regional Universities North in the 2026 edition of Best Colleges and No. 23 in Top Performers on Social Mobility. The college has a total undergraduate enrollment of 1,006 students as of fall 2024. The campus spans 50 acres, and the student-faculty ratio is 17:1. Albertus Magnus College utilizes a semester-based academic calendar and has a test-blind admissions policy, accepting the Common Application.

Tuition and Fees: The Sticker Price

The sticker price for Albertus Magnus College's tuition and fees is $43,118. This figure represents the cost of attendance before any financial aid or scholarships are applied. Compared to the national average cost of tuition of $47,097, Albertus Magnus College is cheaper. In 2020-2021, the average tuition and fees at Albertus Magnus College ran about $36,442 per year for students working on an undergraduate degree. Students from Connecticut did not receive a discount.

Breakdown of Tuition and Fees (2020-2021)

Tuition: $35,442
Fees: $1,000
Total Tuition & Fees: $36,442

It's important to note that these figures represent one year of attendance and do not include room and board.

Historical and Projected Tuition Costs

It is important to consider how tuition and fees are increasing yearly. Factoring cost increases into your budget is essential for financial planning. For example, based on past trends, one estimate projected that students could expect to pay around $39,700 in a particular school year if the growth continued.

Read also: Scholarships at Albertus Magnus

Based on these projections, the estimated total cost of tuition and fees for two years could be $81,136, and for four years, $169,524. These estimates do not include other costs such as room and board, transportation, or books.

Total Cost of Attendance

When evaluating college costs, it's essential to consider the total cost of attendance, which includes tuition and fees, as well as other expenses such as:

Room and Board: (Estimated at $14,024 for the 2024-2025 academic year)
Books and Supplies: $1,600 per year
Personal Expenses: $4,752 per year
Transportation: $3,126 per year

At Albertus Magnus College, the total cost is $66,034.

Financial Aid: Making College Affordable

Many students qualify for scholarships and financial aid that can significantly lower the amount they have to pay. Albertus Magnus College is committed to making education accessible, with a large percentage of students receiving financial assistance.

Key Financial Aid Statistics

Students Receiving Financial Aid: 79.46%
Freshmen With Need and Received Financial Aid: 89.88%
Average Aid Package Awarded: $34,194

Types of Financial Aid

Financial aid can include grants, loans, scholarships, and work-study jobs. These packages vary depending on a student's financial need, which is typically determined based on the Free Application for Federal Student Aid (FAFSA).

Read also: Famous Albertus Magnus Alumni

Need-Based Scholarships and Grants: These awards do not need to be paid back.
Need-Based Loan Amount: Loans must be paid back.
Non-Need-Based Aid: Also known as merit-based aid, awarded for specific talents or academic achievements.

Average Financial Aid Awards

Average Need-Based Scholarship or Grant Award (First-year Students): $7,910
Average Non-Need-Based Aid (First-year Students): $29,835

Net Price: What You'll Actually Pay

The net price is a college’s cost of attendance minus the grants and scholarships you receive. This figure is specific to each student because it’s based on their personal circumstances and the college’s financial aid policies. The average net price for federal loan recipients is $26,735. The average net price is $30,179 per year.

Student Loan Debt

Student loan debt is a significant consideration for many college students. Ideally, total student loan debt should fall below the anticipated starting salary after graduation.

Debt Statistics for Albertus Magnus College Graduates

Median Federal Loan Debt: $30,964
Median Monthly Federal Loan Payment: $328 (assuming a 10-year repayment at 5.05% interest)
Percentage of Graduating Students with Private Loans: 13%
Average Private Loan Debt at Graduation: $43,218
Average Total Indebtedness of 2024 Graduating Class: $49,537
Percentage of Graduating Students Who Have Borrowed (Any Loan Type, 2024): 86%

Scholarships and Grants

Scholarships and grants are crucial forms of financial aid that do not require repayment. They can be need-based, merit-based, or awarded based on other criteria such as community service, unique hobbies, or affiliations. Some students receive enough scholarship money to cover their tuition and living expenses.

Types of Need-Based Scholarships/Grants Available: These take a student’s financial status into account.
Merit-Based Scholarships: Awarded to students for academic or athletic achievement.

Work-Study and Campus Jobs

Working while in school can help lessen the burden of student loans. Albertus Magnus College offers work-study programs to those who qualify and campus jobs to students looking to earn money in their free time. Students can check for in-person or online job boards to find available positions.

Financial Aid Application Process

To apply for financial aid, students typically need to complete the FAFSA. It’s essential to be aware of key dates and deadlines.

Financial Aid Application Due: July 28
Notification Date: December 1

Comparing Albertus Magnus College to Other Schools

When comparing the cost of Albertus Magnus College to other institutions, it's important to consider both tuition and fees and the availability of financial aid.

Tuition & Fees Comparison

National Average (Out-of-State): $19,933 per year
Albertus Magnus College: $36,442 per year

Albertus Magnus College's out-of-state tuition is higher than the national average. However, it is crucial to factor in financial aid packages, which can make the overall cost more competitive.

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