If you’re a high school student, getting into a high-ranking school like Syracuse University can help you advance your career path, but it can also be very costly. Even though Syracuse University tuition can be very high, there are plenty of scholarships and financial aid options available to help you cover Syracuse University’s cost.
Syracuse University’s financial aid options help undergraduate and graduate students from all backgrounds pursue their desired fields of study. Syracuse offers diverse financial aid options from student employment to scholarships and loans. This article has all the details you need to know about Syracuse University’s living expenses and tuition costs.
Syracuse University Rankings and Profile
- Accreditation: Middle States Commission on Higher Education
- Acceptance Rate: 59%
- Graduation Rate: 82%
- US News & World Report Ranking: #59
- Times Higher Education Ranking: #351-400
Syracuse University is a popular private research institution founded in 1870 in Syracuse, New York. The university offers diverse educational degree programs for domestic and international students through its 13 distinctive schools. These include over 200 degree programs covering disciplines from architecture and the arts to engineering and computer science.
Syracuse is known for its exceptional research programs, professional studies, diverse student population, and innovative research. It offers various learning and growth opportunities through academic and extracurricular activities. Popular subjects offered for study at Syracuse include public administration, architecture, entrepreneurial studies, and information science.
How Much Does Syracuse University Cost?
Syracuse University costs $57,591 per year. This represents the yearly tuition and fees for undergraduate students, which is the same for in-state and out-of-state students. The total direct cost for the academic year 2022-2023 is $77,305. This includes the cost of tuition and fees, housing, and meals.
Syracuse University Tuition, Fees, and Other Expenses
| Expense | Syracuse University Cost |
|---|---|
| Syracuse University Undergraduate In-State Tuition and Fees | $57,591 |
| Syracuse University Undergraduate Out-of-State Tuition and Fees | $57,591 |
| Syracuse University Graduate In-State Tuition and Fees | $42,954 |
| Syracuse University Graduate Out-of-State Tuition and Fees | $42,954 |
| Syracuse University Books and Supplies | $1,582 |
The tuition at the school is comparatively higher than that at other private four-year institutions. It is higher than the national average of $37,600, as stated by the National Center for Education Statistics (NCES). This makes Syracuse University a comparatively expensive school. Students can utilize several types of financial aid to pay their tuition.
Syracuse University Living Expenses
| Expense | Syracuse University Cost |
|---|---|
| Syracuse University On-Campus Room and Board | $16,895 |
| Syracuse University Off-Campus Room and Board | $16,895 |
The university charges the same rate for on-campus and off-campus living expenses. According to NCES, the national average cost of attendance for private non-profit institutions is $12,540, which makes the cost charged by SU higher than the national average. Selecting a cheaper room and meal plan can help reduce your living costs in addition to other personal expenses.
Cost Of Living in Syracuse, New York
According to LivingCost.org, the average cost of living in Syracuse, New York is $1,620, which includes the cost of housing, utilities, groceries, and transportation. LivingCost.org also ranks Syracuse as one of the top 25 percent of most expensive cities in the world.
US News & World Report states that Syracuse is the second best place to live in New York. It is a popular and comparatively affordable metropolitan city. It ranks 38th among the best places to live in the United States. Syracuse also has a lower housing cost than the national average.
Syracuse University Financial Aid Statistics
The Office of Financial Aid and Scholarship Programs assists students in finding the best possible means of financial assistance for them. In 2020, 80 percent of students received aid in the form of scholarships, grants, and work-study programs. As of 2021, that number rose to 83 percent.
Types of aid available for students include federal, institutional, and private scholarships, grants, loans, work-study programs, summer aid, and graduate aid. As per NCES, during 2020-2021, 88 percent of students at Syracuse received some kind of financial aid. The total amount of aid received in terms of scholarships and grants was $95,149,466.
Syracuse also offers financing options for graduate programs. The total amount of funds awarded in different types of financial assistance programs during 2020-2021 amounted to $411 million, out of which $282 million was spent on SU scholarships and grants.
Does Syracuse University Accept FAFSA?
Yes, Syracuse University accepts FAFSA. The university directs all students seeking federal financial aid to fill out the Free Application for Federal Student Aid. This form determines if current and prospective students are eligible to apply for and receive financial aid. Students can submit their FAFSA form along with their application during the admission process.
Does Syracuse University Accept GI Bill Benefits?
Yes, Syracuse University accepts GI Bill benefits. GI Bill benefits cover tuition, living expenses, books, and supplies. You can utilize the amount to continue your education at a college, training institute, or higher education institution. GI Bill benefits are available for honorably discharged military veterans.
Is Syracuse University a Yellow Ribbon School?
Yes, Syracuse University is a Yellow Ribbon School. The Yellow Ribbon program helps veterans attend school by covering their tuition fees. These expenditures are not covered by the Post-9/11 GI Bill. Under the Yellow Ribbon agreement, SU splits the cost of a student veteran’s education between the institution and the US Department of Veterans Affairs.
Syracuse University Scholarships and Grants
- NACME Program Grant. The National Action Council for Minorities in Engineering Program Grant is offered to the students of the College of Engineering and Computer Science at Syracuse. They must have a minority status and demonstrate financial need. Selected students get $1,000, which eligible students can renew each academic year.
- NFTE Scholarship. The NFTE Scholarship is awarded to two full-time students each year. The program is offered under the partnership between Syracuse University and the Network For Teaching Entrepreneurship. The award covers the cost of tuition and other mandatory fees. It can be renewed for up to four years of enrollment.
- Scholarship in Action Merit Scholarships. The Scholarship in Action Merit Scholarships offer 11 awards each year to junior and senior students of the College of Arts and Science at Syracuse. The monetary award is $12,000 for juniors and $6,000 for seniors.
- Junior Achievement Scholarship. The Junior Achievement Scholarship award is offered to one first-year student every year. Candidates must apply for admission through Junior Achievement of CNY. The award covers yearly tuition and is renewable for up to four years. Maintaining merit is mandatory for the renewal of the award.
- Phanstiel Scholarship Program. The Phanstiel Scholarship Program aims to help students belonging to middle-income groups. The program includes financial assistance as well as mentorship and community service opportunities. Besides the grant, scholars have the opportunity to attend Syracuse University’s Financial Literacy Program.
- Project Lead the Way. This is one of the merit-based scholarships awarded to first-year students of the College of Engineering and Computer Science. Students must complete and submit the application form during their senior year of high school. The applicants must be US citizens or permanent US residents to qualify for the award.
- Syracuse University Grant. The Syracuse University Grant is offered to students admitted to SU who demonstrate financial need. Students only get this award for spring and fall terms. To get the limited summer study grant, students must have an approved Summer Study Plan.
- Coronat Scholarship. The Coronat Scholarship is offered to liberal arts students enrolled in the College of Arts and Sciences. The award covers tuition as well as additional fees like study-abroad costs. Full-time students who maintain a good GPA of 3.0 can renew this scholarship yearly.
- Maxwell School of Citizenship Scholarship for Community Impact. This scholarship is open to first-year students enrolled at the Maxwell School of Citizenship and Public Affairs. Applicants must be involved in community service or community impact activities. The top four selected students get the scholarship award of $15,000.
- AmeriCorps Scholarships. Under the AmeriCorps Scholarship program, selected undergraduate students get funds equaling one-half of their cost of tuition. Students must be participants of the AmeriCorps program to qualify for the award. The scholarship can be renewed for up to four years.
Syracuse University Average Net Price by Income
| Family Income | Syracuse University Net Price |
|---|---|
| $0 to $30,000 | $17,000 |
| $30,001 to $48,000 | $18,339 |
| $48,001 to $75,000 | $21,415 |
| $75,001to $110,000 | $27,817 |
| $110,001 and up | $46,942 |
The net price of Syracuse University is calculated taking into account the cost of education and financial aid. It includes tuition, direct and indirect costs, and financial aid options such as scholarships and grants. After calculating the yearly cost of attendance, the amount of applicable scholarship or grant money is subtracted to get the final amount.
How to Calculate Syracuse University Cost
If you’re admitted to Syracuse, you might need to calculate the cost of attendance to determine how much aid you need, if any. You can calculate this by adding up all the applicable costs charged by the school. Syracuse’s website offers a net price calculator tool that helps you determine the difference between your bill and the actual cost that you would be paying.
Since SU does not offer any discounted rates to in-state students, you will have the same tuition whether you live in state or out of state. You can check the estimated cost of attendance for undergraduates on Syracuse’s website to decide whether or not you will need to apply for aid. You can also consult with financial counselors at Syracuse during the admissions process.
Is the Cost of College Too High?
No, the cost of college is not too high if you get a scholarship and make an effort to save money. According to Statista, attending a private non-profit university in the United States during 2020-2021 had an average annual cost of $51,690. This is lower than the total cost of attendance for SU.
Syracuse University Student Debt
- Students Receiving Federal Loans: 38%
- Median Debt After Graduation: $26,952
- Average Monthly Loan Payment: $269
Unlike scholarship or grant money, student loan debt represents funds that need to be repaid along with interest. The majority of Syracuse students get scholarships and grants, but a significant percentage of students also receive federal loans. They use them to pay for the costs that grants don’t cover.
According to Debt.org, the total amount of student debt in the USA is $1 trillion, and $2,858 in student debt is accrued every second. A leading reason behind the large number of student loans is the low average monthly loan payment. It makes it easier to repay the amount as compared to lump-sum repayment.
Syracuse University Tuition Payment Plans
Syracuse University offers students prepaid tuition plans and monthly tuition payment plans. The prepaid tuition plan allows students to pay tuition four years in advance at the current rate. Any future increase in fees does not impact students who utilize this plan. It is only available to full-time undergraduate students who receive less than $8,000 in financial aid per year.
On the other hand, the monthly payment plan allows students to pay semester tuition each month until the balance is cleared. Students must enroll to participate in this program and pay the required fee. Satisfactory regular payments are the condition for the continuation of this plan.
Syracuse University Graduate Salaries and Outcomes
Syracuse University prepares graduates to enter high-earning career fields and seek exceptional professional growth in their respective fields. According to the US Department of Education College Scorecard, the median salary for Syracuse graduates is $71,470, which is higher than average. A degree from this prestigious university helps graduates get jobs in top companies, including Amazon, Oracle, IBM, and Deloitte.
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As per the school’s website, 92 percent of graduates successfully land jobs in their desired fields. The career services offered by the university help students develop the merit for financially rewarding careers through experiential learning. They lead them to top internship placements that further help them network and build connections.
How to Save Money in College
- Apply for work-study programs. Many colleges, including Syracuse, offer work-study jobs that allow students to work while studying to earn money to meet their educational and personal expenses. These programs can help you earn some extra money to pay for your college tuition and other types of expenses.
- Rent used textbooks. Buying new textbooks each semester can add a lot to the total cost of books and supplies. Instead of purchasing them new, you can buy used ones for a lower cost or simply rent them out for a semester, return them, and repeat the process for the next semester’s books.
- Live with your family. Living with your family at home rather than renting a house makes a significant difference to your expenses. It eliminates the need to pay for your rent, utilities, and meals. This option is best suited for students whose families live near their college campuses.
- Use public transport. Driving to college can add further expense to the costs of a college education. A better option is to walk for shorter distances and use public transport for longer distances. There is an efficient network of public transportation in Syracuse that can help you save money and time.
- Make and follow a budget. Financial planning and budgeting help you avoid excessive expenditures. Whether it is your meal plan, commuting costs, or other personal expenses, make a budget and plan all your spending accordingly. If you stick to your budget, you will soon be able to save a significant amount.
Is Syracuse University Affordable?
Yes, Syracuse University is affordable if you can get financial assistance of some kind. This school might seem expensive, but the availability of ample financial aid options helps make it affordable. Also, if you belong to a middle-income or high-income group family, you might find Syracuse more affordable than other students.
Syracuse University Cost FAQ
No, it is not very hard to get financial aid at Syracuse University. There are plenty of options available for eligible students. If you meet the eligibility criteria and apply as per the directions, you can surely get some type of financial assistance for your bachelor’s degree or graduate program. It is important to stay updated regarding the availability of aid and know which option is best for you.
Yes, living at your home with your family affects how much financial aid you get. Living at home will reduce your cost of attendance as you will be considered a commuter. The reduction in cost may result in a reduction in scholarship funds. On the other hand, living off-campus without your family has no impact on your financial aid.
Yes, students enrolled in Syracuse Abroad can get financial aid. There are specific programs, including scholarships and grants for international students. Funds are usually limited, so it is better for eligible students to apply as early as possible. You can discuss this with a financial counselor to learn more about the options available to you.
Yes, Syracuse University is worth the cost. Besides opening the door to a diverse range of bachelor’s, PhDs, and master’s degree programs, it also offers many great student services. The career placement services, residence halls, health and wellness services, transportation, campus security, academic resources, and counseling and support services help students learn and grow.
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