Understanding the Cost of Attendance at Pepperdine University

For students considering Pepperdine University, understanding the cost of attendance is a crucial step in financial planning. This comprehensive guide breaks down the various components that contribute to the overall cost, including tuition, fees, living expenses, and available financial aid options.

Decoding the Cost of Attendance

The Cost of Attendance (COA) represents the estimated total cost for an academic year at Pepperdine University. This figure encompasses not only direct educational costs but also indirect expenses. A student's total financial aid awards cannot exceed the Cost of Attendance (estimated costs for the academic year).

For example, a student with tuition and fees of $10,000 and a living expense budget of $51,710 will have a total Cost of Attendance of $61,710.

Direct vs. Indirect Costs

Direct educational costs include expenses that are billed directly by the university. These typically encompass:

Tuition
Food and housing
Wellness fee
Campus life fee
Student government (SGA) fee

Indirect costs, on the other hand, are expenses that students will incur but are not billed directly by the university. These include:

Books and supplies
Loan fees
Transportation
Personal expenses

It's important to note that individual charges may vary based on a student’s choice of housing arrangement, meal plan, and total number of units enrolled.

Tuition and Fees

Pepperdine University's tuition is $69,918. When comparing Pepperdine University tuition to the national average cost of tuition of $47,890, Pepperdine University is more expensive. These figures include both tuition and fees, also referred to as the sticker price. Fees differ by institution and may fund library services, student gym facilities, student centers, technology resources and campus health centers.

Pepperdine University continues to experience cost increases. The university typically increases tuition between two and six percent annually, as determined by Pepperdine University's Board of Regents.

Additional Fees

There is a $475 one-time workshop fee for the first semester of the first year. Additional miscellaneous charges/fees may be added to the student account as they are incurred by a student, for example - registration adjustment fees, private voice/music instruction, parking tickets, etc.

Other Expenses

Beyond tuition and fees, students should also budget for other costs such as:

Read also: Affording ECU

Books and Supplies: The University predicts students will spend $1,000 on books and supplies.
Personal Expenses: The University predicts students will spend $1,500 on personal expenses.
Transportation: The University predicts students will spend $1,000 on transportation.

The University predicts students will spend $1,000 on books and supplies, $1,000 on transportation and $1,500 on personal expenses for a total of $3,500 indirect costs.

Health Insurance

All students are required to have health insurance coverage. Students may waive out if they have their own health insurance coverage. Students who do not have their own health insurance plan or enroll in the Student Health Insurance Plan (SHIP). An additional charge of approximately $1,362 per semester for health insurance may be incurred if a student is not already covered by family or group health coverage.

SHIP runs from August 16 to September 5. The deadline is due on September 5.

Financial Aid: Making Pepperdine Affordable

Financial aid can significantly reduce the net price of attending Pepperdine. 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.

Types of Financial Aid

Grants and Scholarships: These do not need to be paid back.
Loans: These must be paid back.
Work-Study Jobs: These allow students to earn money while attending school.

Key Financial Aid Statistics

54% of students receive financial aid.
The average aid package is $44,096.
99% of freshmen with need receive financial aid.
The average need-based scholarship or grant awarded is $46,363.
The average need-based loan amount is $5,395.
The average non-need-based aid is $16,896.
The average need-based scholarship or grant awarded to first-year students at Pepperdine University was $40,989. Additionally, 56% of first-year students received need-based financial aid in fall 2022.
The average need-based self-help aid awarded to first-year students was $4,494.
The average non-need-based scholarship or grant awarded to first-year students at Pepperdine University - excluding any athletic scholarships, if applicable - was $7,158.

Important Financial Aid Dates

Application Due: February 15. The last day to apply for financial aid or turn in related paperwork.
Priority Application Due: February 15. Applications received prior to this date will be given the strongest consideration.
Notification Date: April 5. When students receive a letter with the amount and types of aid the college is offering.
Response Due: Not available. The deadline for students to respond to the college’s aid offer.

Scholarships

Scholarships are a type of funding that you don’t need to pay back. Need-based scholarships take a student’s financial status into account. Merit-based scholarships are awarded to students for academic or athletic achievement. 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.

Read also: Withdrawals for College: A Guide

The University offers four main types of scholarships for students - merit based awards, scholarships through the Churches of Christ, private scholarships and grants and departmental scholarships, according to Pepperdine’s Financial Aid Brochure.

Loans and Debt

Student loan debt is a significant consideration for many students. The typical amount of loans a student must pay back.$16,500.

The median federal loan debt among borrowers who completed their undergraduate degree is $23,510.
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 $249.
6% of graduating students at Pepperdine University took out private loans.
Students with private loans had an average of $57,940 in private loan debt at graduation.
Average Total Indebtedness of 2023 Graduating Class$29,645.
Graduating students who have borrowed (any loan type, 2023)50%.

Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate.

Net Price

Your net price is a college’s cost of attendance minus the grants and scholarships you receive. 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.

The average net price is $52,216 per year.

Additional Programs and Considerations

G.I. Bill and Yellow Ribbon Program

Pepperdine University is G.I. Bill certified and participates in the Yellow Ribbon Program.

Student Health Insurance Plan (SHIP)

Students who do not have their own health insurance plan or enroll in the Student Health Insurance Plan (SHIP). SHIP runs from August 16 to September 5. The deadline is due on September 5.

Cost Increases

Pepperdine University continues to experience cost increases.

Financial Aid for Specific Programs

Students enrolled at other campuses or online will pay a reduced rate.

Pepperdine's Financial Commitment

Pepperdine University met 70% of its students’ financial aid need. The University awarded $154.4 million worth of scholarships in 2022 and $135.6 million worth of scholarships for 2021, according to Pepperdine’s 2021-22 audited financial statements.

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