Felician University, a private Franciscan institution in New Jersey, offers students a transformative educational experience with a commitment to academic excellence and personal growth. However, understanding the financial implications of pursuing a degree is crucial for prospective students and families. This comprehensive guide delves into the various costs associated with attending Felician University, empowering you to make informed decisions.
Tuition and Fees
Undergraduate Tuition
- Full-time students: $17,820 per academic year
- Part-time students: $900 per credit hour
Graduate Tuition
- Master’s programs: $1,100 per credit hour
Other Fees
- Application fee: $50
- Technology fee: $50 per semester
- Health service fee: $100 per semester
- Student activity fee: $100 per semester
- International student fee: $500 per year
Room and Board
On-Campus Housing
- Double occupancy room: $6,900 per academic year
- Single occupancy room: $8,400 per academic year
Off-Campus Housing
- Estimated average rent for a one-bedroom apartment in Rutherford, NJ: $1,500 per month
Meal Plans
- Weekly meal plan (14 meals): $1,800 per academic year
- Daily meal plan (21 meals): $2,100 per academic year
Other Expenses
- Books and supplies: $1,200 per academic year
- Transportation (including parking): $1,500 per academic year
- Personal expenses (laundry, entertainment, etc.): $2,000 per academic year
Financial Aid and Scholarships
Felician University offers a range of financial aid options to assist students in meeting the cost of attendance. These include:
- Grants: Free money that does not need to be repaid, such as the Federal Pell Grant and New Jersey State Tuition Aid Grant.
- Scholarships: Merit-based awards based on academic achievement, extracurricular involvement, or other criteria.
- Loans: Funds borrowed from the government or private lenders that must be repaid with interest.
For the 2022-2023 academic year, 93% of Felician University students received some form of financial aid, with an average award of $15,000.
Cost Comparison
Felician University vs. Other Private Universities in New Jersey
| University | Tuition and Fees | Room and Board |
|---|---|---|
| Felician University | $17,820 | $6,900-$8,400 |
| Montclair State University | $18,240 | $12,670-$15,630 |
| Seton Hall University | $43,680 | $15,000-$24,000 |
Felician University vs. Public Universities in New Jersey
| University | Tuition and Fees (In-State) | Room and Board |
|---|---|---|
| Felician University | $17,820 | $6,900-$8,400 |
| Rutgers University-New Brunswick | $17,000 | $14,000-$20,000 |
| New Jersey Institute of Technology | $18,000 | $15,000-$22,000 |
Considerations and Pain Points
- Rising Costs: The cost of higher education has been rising steadily over the years, making it increasingly difficult for families to afford.
- Student Debt: Many students rely on loans to finance their education, which can lead to significant debt upon graduation.
- Affordability Concerns: For low-income and first-generation students, the cost of attending college can be a major obstacle to achieving their educational goals.
Common Mistakes to Avoid
- Not applying for financial aid: Many students fail to apply for all of the financial aid options available to them, resulting in paying more out-of-pocket.
- Borrowing more than you can afford: It is important to carefully consider the amount of student loan debt you are taking on and ensure that you can make the payments once you graduate.
- Not budgeting wisely: Create a realistic budget and stick to it to avoid overspending and accumulating unnecessary debt.
Pros and Cons of Attending Felician University
Pros
- Affordability: Compared to other private universities in New Jersey, Felician University offers a more affordable option.
- Financial Aid: The university provides a variety of financial aid options to assist students in meeting the cost of attendance.
- Small Class Sizes: Felician University maintains small class sizes, allowing for personalized attention and a more engaging learning experience.
Cons
- Limited Graduate Programs: The university offers a limited number of graduate programs compared to larger institutions.
- Campus Size: Felician University has a small campus with limited student amenities.
- Location: The university is located in Rutherford, NJ, which may not be the most desirable location for some students.
Conclusion
Pursuing a degree at Felician University offers students the opportunity to excel in their studies and grow as individuals. By understanding the financial implications involved, prospective students and families can make informed decisions and take advantage of the various financial aid options available. With its commitment to affordability and academic excellence, Felician University empowers students to unlock their educational aspirations and achieve their full potential.