Understanding Old Dominion University Tuition Costs

Navigating the financial aspects of higher education can be daunting. This article breaks down the tuition costs at Old Dominion University (ODU), a large, public institution located in Norfolk, Virginia, to help prospective and current students understand the expenses involved. Founded in 1930, ODU offers undergraduate degrees in 166 majors.

Tuition and Fees: The Sticker Price

Old Dominion University's tuition is $13,320 for in-state students and $33,885 for out-of-state students. These figures include both tuition and fees, often referred to as the "sticker price." Compared with the national average cost of in-state tuition of $12,436, Old Dominion University is more expensive for in-state students. For students coming from out of state, the tuition is also more expensive than the national average cost of out-of-state tuition of $29,815.

It's important to remember that fees can differ significantly between institutions. These fees often support essential services and facilities, such as library services, student gym facilities, student centers, technology resources, and campus health centers.

Mandatory Fees Explained

In addition to tuition, students at Old Dominion University are required to pay several mandatory fees. These fees are applicable to all students unless otherwise noted and cover a range of services and resources. Here's a breakdown:

Comprehensive Fee: This fee supports auxiliaries such as the student union, recreational sports, student facilities, student activities, and intercollegiate athletics. Historically, this fee was assessed and listed as part of a combined tuition rate.
Student Health Fee: Undergraduate and graduate students taking 6 or more credit hours must pay this fee each semester. The fee is not charged for students taking all off-campus courses.
Transportation Fee: All students pay this fee once each semester for courses officially designated as Norfolk campus courses. However, no fee is charged during the summer term.
Innovation Fee: This auxiliary student fee supports strategic investments in campus technology.
ID Card Fee: This fee is mandatory for all students.
Technology Fee: This fee is mandatory for all students taking technology-delivered courses.
International Student Fee: This fee is mandatory for students attending the University on a student visa.
New Student Fee: This fee is mandatory for all new degree-seeking, non-distance undergraduate students.

Health Insurance

Health insurance charges are posted directly to the student's billing statement and are due on the tuition deadlines for the academic year. For example, the health insurance cost for the Fall Semester (Aug-Dec) is $1,177, while the Spring Semester & Summer (Jan-July) cost is $1,632. Non-credit students enrolled in the English Language Center Program will be charged based on the session. Health insurance is mandatory for F and J Visa holders and all nonimmigrant dependents.

Beyond Tuition: Understanding Total Cost and Net Price

When comparing the costs of different institutions, it's crucial to consider the total cost and the net price, not just the sticker price. The total cost includes the sticker price, plus the cost of food and housing, books and supplies, and transportation and personal expenses.

The net price is the actual cost a student pays after taking into account grants and scholarships. Understanding the net price provides a more accurate picture of the affordability of a particular institution.

Financial Aid Options at Old Dominion University

Old Dominion University offers various financial aid options to help students manage the cost of attendance. These options include need-based aid, merit-based aid, and self-help aid.

Need-Based Aid

Need-based aid takes a student's financial status into account when determining eligibility. In fall 2023, 70% of first-year students received need-based financial aid. The average need-based scholarship or grant awarded to first-year students at Old Dominion University was $14,221.

Need-based self-help aid includes federal loans and work-study programs. The average need-based self-help aid awarded to first-year students was $3,301.

Read also: UMN Cost of Attendance

Merit-Based Aid

Merit-based aid, also called non-need-based aid, is awarded for a specific talent or academic achievement. The average non-need-based scholarship or grant awarded to first-year students at Old Dominion University - excluding any athletic scholarships, if applicable - was $7,523.

Meeting Financial Need

Old Dominion University met 53% of its students’ financial aid need.

Scholarships and Grants

Scholarships and grants are a type of funding that you don’t need to pay back. You might also qualify for a scholarship based on your community service involvement, unique hobbies or traits, your personal background, or a parent’s employer or military affiliation. Some students receive enough in scholarship money to cover their tuition and living expenses.

Student Loan Debt: A Critical Consideration

How much student loan debt you accumulate can affect your financial life long after college ends. Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate.

At Old Dominion University, the median federal loan debt among borrowers who completed their undergraduate degree is $24,000. 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 $254.

Additionally, 17% of graduating students at Old Dominion University took out private loans. Students with private loans had an average of $34,804 in private loan debt at graduation. The Average Total Indebtedness of 2024 Graduating Class is $32,043, with 68% of graduating students who have borrowed any loan type.

Working During School

Working while in school can help lessen the burden of your student loans. Schools offer work-study programs to those who qualify and campus jobs to students looking to earn money in their free time. Some institutions match students with work-study positions, while others require them apply to the positions, like they would for any other job. Begin your job search by checking whether your college has in-person or online job boards.

In-State Tuition Eligibility

Reduced tuition charges are subsidized by the taxpayers of Virginia. Effective October 1, 2016, eligibility is governed by Section 23-1-500--510 of the Code of Virginia. The University makes its decisions according to the applicable state law, guidelines specific to that law, and within procedures developed to conform with requirements of law. Your primary purpose in moving to Virginia must have been to establish yourself as a resident of Virginia. Students who fail to apply for in-state privileges will be billed at the out-of-state rate. Students with a pending decision must pay at least the in-state tuition amount by the tuition deadline. Upon decision, rates will be revised appropriately.

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