Understanding University of Mount Olive Tuition and Costs
Choosing a college is a significant investment, and understanding the costs associated with tuition, fees, and other expenses is crucial. This article provides a comprehensive overview of the tuition, fees, financial aid options, and other costs associated with attending the University of Mount Olive.
Tuition and Fees
The University of Mount Olive's tuition for undergraduate students was $24,850. This figure is less than the national average for Baccalaureate Colleges, which stands at $29,280. These figures, also referred to as the sticker price, include both tuition and fees. Fees may fund library services, student gym facilities, student centers, technology resources, and campus health centers.
Historical Tuition Costs
In 2023, the cost of tuition at University of Mount Olive was $24,850. The cost of tuition at University of Mount Olive is $−4,430 less than than the overall (public and private) national average for Baccalaureate Colleges ($29,280).
Net Price
The average net price, which is the price paid after factoring in grants and loans, was $17,893. The net price you pay for a particular college is specific to you because it’s based on your personal circumstances and the college’s financial aid policies. Use the college’s Net Price calculator for the most accurate estimate of your net price. Between 2022 and 2023, the average net price of University of Mount Olive grew by 0.0839%.
Net Price and Financial Aid
Financial aid can include grants, loans, scholarships and work-study jobs. Financial aid packages vary depending on your financial need. Most colleges determine financial need based on your FAFSA.
Read also: Mount Union Affordability
Other Student Expenses
Beyond tuition, students should also budget for other expenses such as room and board, books and supplies, personal expenses, and transportation. In 2023, the average yearly cost of room and board was $7,992. The cost of room and board increased by 3.72% between 2022 and 2023. During the same period, the average yearly cost of books and supplies was $1,350. The cost of books and supplies did not change during the same period. Personal expenses are estimated at $2,000 per year.
Financial Aid
Financial aid can significantly offset the cost of tuition and other expenses. In 2023, 83% of undergraduate students attending University of Mount Olive received financial aid through grants. Comparatively, 67% of undergraduate students received financial aid through loans.
Types of Financial Aid
Financial aid can come in the form of grants, scholarships, loans, and work-study programs. Grants and scholarships do not need to be paid back, while loans must be repaid with interest. Work-study programs allow students to earn money through part-time jobs on campus.
Application Process
The application deadline for financial aid is April 1. It's essential to submit the Free Application for Federal Student Aid (FAFSA) to determine eligibility for federal and state aid.
Average Aid Package
The average aid package awarded was $13,379. This figure represents the total amount of financial aid received by students, including grants, scholarships, and loans.
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Student Loan Debt
Student loan debt is a significant concern for many college students. At University of Mount Olive, the median federal loan debt among borrowers who completed their undergraduate degree is $27,209. The median monthly federal loan payment (if it were repaid over 10 years at 5.05% interest) for student federal loan borrowers who graduated is $288.
Tuition Guarantee Plans
Tuition at time of first enrollment guaranteed only to students making advance payment.
Adult and Online Programs
The University of Mount Olive is committed to providing transparent and affordable tuition for adult learners pursuing online undergraduate degrees. Adult and Online Programs Student tuition will be billed at the rate of $455 per credit hour for Academic Year 26-27. This rate is for all courses and does not include the price of course textbooks. The Teacher Residency Licensure rate is $250 per credit hour for the Academic Year 26-27. Books are estimated to cost $1800 per year. UMO’s online undergraduate tuition is billed on a per-credit-hour basis, allowing students to control costs by adjusting course loads each term. This structure supports adult learners who may need flexibility as they progress through their degree. Certain programs, such as Teacher Residency Licensure pathways, may have distinct tuition rates due to program-specific requirements. The $100 graduation fee will cover cap and gown/announcements (Bookstore), processing fee/diploma/tickets (Registrar’s Office), and cost associated with the graduation ceremony. If a student chooses not to attend graduation, the fee will still be assessed to their account.
Enrollment and Student Demographics
In 2023, University of Mount Olive had a total enrollment of 2,128 students. The full-time enrollment at University of Mount Olive is 1,356 students and the part-time enrollment is 772. This means that 63.7% of students enrolled at University of Mount Olive are enrolled full-time.
Race and Ethnicity
The enrolled student population at University of Mount Olive, both undergraduate and graduate, is 52.7% White, 26% Black or African American, 10% Hispanic or Latino, 5.5% Two or More Races, 0.564% American Indian or Alaska Native, 0.564% Asian, and 0.094% Native Hawaiian or Other Pacific Islanders.
Read also: History of the Former College
Graduation Rates and Outcomes
In 2023, 614 degrees were awarded across all undergraduate and graduate programs at University of Mount Olive. 68.7% of these degrees were awarded to women, and 31.3% awarded men. The most common race/ethnicity group of degree recipients was white (355 degrees), 2.34 times more than then the next closest race/ethnicity group, black or african american (152 degrees).
Time to Complete
In 2023, 36% of students graduating from University of Mount Olive completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 47% completed their degrees within 150% of the normal time, and 49% within 200%.
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