Understanding Patrick Henry College Tuition and Financial Aid
Patrick Henry College (PHC) offers a distinctive educational experience, and understanding its tuition structure and financial aid options is crucial for prospective students and their families. This article provides a comprehensive overview of PHC's tuition costs, available financial aid, and student loan debt considerations.
Tuition and Fees: The Sticker Price
Patrick Henry College's tuition is $28,420, which includes both tuition and fees, also referred to as the sticker price. When compared to the national average cost of tuition of $50,159, Patrick Henry College is a more affordable option. Fees at PHC support various campus services such as library resources, student gym facilities, student centers, technology resources, and campus health centers.
Total Cost of Attendance
While the sticker price provides a baseline, understanding the total cost of attendance is essential for budgeting. At Patrick Henry College, the total cost is $41,445. This figure encompasses tuition and fees, plus the cost of food and housing, books and supplies, and transportation and personal expenses.
Net Price: What You'll Actually Pay
The net price represents the actual amount a student pays after factoring in grants and scholarships. The average net price at Patrick Henry College is $25,128 per year.
The net price is unique to each student, as it is determined by their individual financial circumstances and the college's financial aid policies. To get the most accurate estimate of your net price, it is recommended to use the college's Net Price calculator.
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Financial Aid Opportunities
Patrick Henry College is committed to making education accessible through various forms of financial aid, including grants, loans, scholarships, and work-study jobs. Financial aid packages are tailored to each student's financial need, typically determined by the Free Application for Federal Student Aid (FAFSA).
Need-Based Aid
In fall 2023, 100% of first-year students at Patrick Henry College received need-based financial aid. The average need-based scholarship or grant awarded to these students was $14,093. Patrick Henry College met 86% of its students’ financial aid need.
Types of Aid Available
Patrick Henry College offers various types of need-based scholarships and grants. Scholarships are a form of funding that does not need to be repaid. They can be need-based, taking a student’s financial status into account, or merit-based, awarded for academic or athletic achievement. Students may also qualify for scholarships based on community service, unique hobbies or traits, personal background, or a parent’s employer or military affiliation.
Financial Aid Statistics
- Students Receiving Financial Aid: 97.42%
- Freshmen With Need and Received Financial Aid: 100%
- Average Aid Package Awarded: $13,345
- Average Need-Based Scholarship or Grant Award: $14,152
- Need-Based Loan Amount: $0
Important Financial Aid Dates
- Application Due: June 1 (The last day to apply for financial aid or turn in related paperwork.)
Student Loan Debt
It's important to carefully consider student loan debt, as it can impact your financial life long after graduation. Ideally, your total student loan debt should be less than your anticipated starting salary.
Indebtedness of Graduating Class
The average total indebtedness of the 2024 graduating class at Patrick Henry College was $50,222. 27% of graduating students at Patrick Henry College took out private loans. Students with private loans had an average of $50,222 in private loan debt at graduation.
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Additional Costs
Beyond tuition and fees, students should budget for additional costs such as:
- Books and Supplies: $500 per year
- Personal Expenses: $500 per year
- Transportation: $500 per year
Work Opportunities
Working while in school can help reduce the burden of student loans. Colleges offer work-study programs to those who qualify and campus jobs to students looking to earn money in their free time.
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