William & Mary (W&M) is a prestigious public university located in historic Williamsburg, Virginia. It offers a wide range of undergraduate and graduate programs, attracting students from all over the world. However, like many higher education institutions, the cost of attending W&M can be a significant factor for prospective students and their families.
Understanding Tuition and Fees
Tuition and fees are the primary expenses associated with attending William & Mary. Tuition covers the cost of instruction, while fees cover additional expenses such as student services, facilities, and technology.
Undergraduate Tuition and Fees (2023-2024)
| Category | In-State | Out-of-State |
|---|---|---|
| Tuition | $16,040 | $44,332 |
| Fees | $1,576 | $1,576 |
Graduate Tuition and Fees (2023-2024)
| Category | In-State | Out-of-State |
|---|---|---|
| Master’s Programs | $13,824 | $37,888 |
| Doctoral Programs | $15,820 | $43,884 |
Additional Expenses
Beyond tuition and fees, students should also factor in additional expenses such as:
- Room and Board: Living on campus can cost around $12,000-$16,000 per academic year (including housing, meals, and other related expenses).
- Books and Supplies: Textbooks and other course materials can cost around $800-$1,200 per year.
- Transportation: Students without a car may need to budget for transportation costs, such as public transportation or ride-sharing services.
- Personal Expenses: This category includes expenses such as clothing, entertainment, and personal care items.
Financial Aid and Scholarships
To help make college more affordable, William & Mary offers a variety of financial aid options, including:
- Grants: Free money that does not need to be repaid.
- Scholarships: Merit-based awards that are awarded based on academic achievement, talent, or financial need.
- Loans: Money that students borrow and must repay, typically with interest.
In the 2022-2023 academic year, over 50% of W&M undergraduate students received some form of financial aid. The average financial aid package was $25,000.
Common Mistakes to Avoid
When it comes to paying for college, there are a few common mistakes that students and families should avoid:
- Not applying for financial aid: Many students miss out on financial aid opportunities because they do not complete the Free Application for Federal Student Aid (FAFSA).
- Borrowing too much money: While loans can help cover the cost of college, it’s important to borrow responsibly and not overextend yourself financially.
- Ignoring scholarships: Scholarships can be a great way to reduce the cost of college, but many students don’t take the time to apply for them.
Why Tuition Matters
Tuition is an important factor to consider when choosing a college because it can have a significant impact on your financial situation. By understanding the costs associated with attending William & Mary and exploring financial aid options, you can make better informed decisions about your education and your future.
Benefits of Attending William & Mary
Despite the cost, attending William & Mary offers a number of benefits that can make it a worthwhile investment:
- Excellent Academic Reputation: W&M is ranked among the top public universities in the United States, providing students with access to a world-class education.
- Small Class Sizes: W&M’s average class size is 19 students, creating a supportive and personalized learning environment.
- Research Opportunities: W&M’s faculty are actively involved in research, providing students with hands-on experience and opportunities to make meaningful contributions to their field.
- Strong Alumni Network: W&M has a strong alumni network that provides students with access to career opportunities, mentorship, and lifelong connections.