Understanding the Cost of Attendance at Rosemont College
For prospective students and their families, understanding the financial implications of attending college is crucial. This article delves into the various aspects of tuition, fees, financial aid, and overall cost of attendance at Rosemont College, providing a comprehensive overview to aid in financial planning.
Tuition and Fees
Undergraduate Tuition
In 2023, the median undergraduate tuition at Rosemont College stood at $20,885. This figure is $3,690 less than the national average for Masters Colleges and Universities, which is $24,575. This positions Rosemont College in the lower half of tuition costs nationally, making it a relatively affordable option compared to its peers. Rosemont’s base tuition is well below that of similar institutions, because they believe the standard “high price, high discount” model is misleading and confusing. Tuition for full time students is based on a minimum of 12 credits and a maximum of 18 credits per semester.
Additional Expenses
Beyond tuition, students should also account for other expenses. In 2023, the average yearly cost for room and board at Rosemont College was $13,130. The cost of books and supplies averaged $1,400 per year, a decrease of 6.67% from the previous year. Personal expenses are estimated at $1,821 per year. When combined, the tuition and fees for full-time undergraduate students at Rosemont College amount to roughly $22,170 annually.
Net Price and Financial Aid
Average Net Price
The average net price, which is the price paid after factoring in grants and loans, was $19,297 in 2023. Between 2022 and 2023, the average net price grew by 2.25%. This net price is calculated from full-time beginning undergraduate students who were awarded a grant or scholarship from federal, state, or local governments, or the institution.
Financial Aid Availability
A significant portion of Rosemont College students receive financial aid. In 2023, 72% of undergraduate students received financial aid through grants, while 69% received financial aid through loans. This represents a growth of 16.1% with respect to 2022, when 62% of undergraduate students received financial aid. The average aid package awarded was $13,761.
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Financial Aid by Income Level
The net price varies depending on household income. Understanding these variations is crucial for families to estimate their potential out-of-pocket expenses. Rosemont College also extends work-study opportunities to international students, allowing them to engage in campus jobs that meet visa requirements.
Student Loan Default Rate
In 2022, the default rate for borrowers at Rosemont College was 0%, corresponding to 0 out of the 239 total borrowers. This low default rate suggests that students are generally able to manage their loan repayments effectively.
Enrollment and Demographics
Acceptance Rate and Enrollment
Rosemont College received 1,578 undergraduate applications in 2023, with 1,176 students being accepted, representing a 74.5% acceptance rate. There were 777 students enrolled in 2023, with 453 students enrolled full-time and 324 part-time, meaning that 58.3% of students are enrolled full-time. The college has an overall enrollment yield of 8.59%, representing the number of admitted students who ended up enrolling.
Diversity in Enrollment
The enrolled student population at Rosemont College is diverse, with 23.3% White, 20.1% Black or African American, 8.62% Hispanic or Latino, 1.8% Two or More Races, and 0.772% Asian. Students enrolled in full-time Undergraduate programs are most commonly White Female (16.2%), followed by White Male (15.6%) and Black or African American Female (14.8%).
Graduation and Completion Rates
Graduation Rate
The graduation rate at Rosemont College is 34.1%. In 2023, 28% of students completed their program within 100% "normal time" (i.e., 4 years for a 4-year degree). Comparatively, 42% completed their degrees within 150% of the normal time, and 42% within 200%.
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Graduation Rate by Race and Sex
The student demographic with the highest graduation rate in 2023 at Rosemont College is Female and White (56.7% graduation rate).
Additional Financial Considerations
Endowment and Expenditures
Rosemont College has an endowment valued at nearly $15.4M, as of the end of the 2023 fiscal year. In 2023, the college had a total salary expenditure of $19M.
Tuition Payment and Refund Policies
Tuition payments received after the due dates are subject to a late payment fee. Checks or money orders are to be made payable to “Rosemont College.” Visa, MasterCard, American Express, and Discover credit cards are also accepted for payment of educational costs through CashNet. The College also offers an interest-free tuition payment plan with a fee due with the initial payment.
A student who withdraws from semester-length classes may be entitled to a refund according to the schedule listed by the Office of the Registrar. The refund period may change based upon the length or nature of the class.Financial aid is adjusted accordingly with regard to the number of credits that have been dropped.
Work-Study Programs
Rosemont College offers various work-study opportunities designed to help students finance their education while gaining practical experience. Eligible students can find employment on campus in administrative offices, the library, and other departments, providing a convenient option for balancing work and study commitments.
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Making an Informed Decision
Net Price Calculators
To get a more accurate estimate of the net price, prospective students are encouraged to use the college’s Net Price calculator. This tool provides a personalized estimate based on individual financial circumstances and the college’s financial aid policies.
Comparing Costs
It is essential to compare the costs of Rosemont College with those of similar institutions. This comparison should include tuition, fees, room and board, and potential financial aid packages.
Exploring Alternative Options
Prospective students should also explore alternative options such as in-state public schools, which tend to have subsidized tuitions for state residents.
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