University of Tennessee is a great option for graduate and undergraduate students. It offers a variety of extracurricular activities, student football and sports teams, academic programs of study, and excellent academic departments. The overall University of Tennessee cost, however, is crucial to know before you submit your application for admission.
If you want to apply to this university, there are a few factors you should consider. Some of the most important ones include the average University of Tennessee living expenses to give you an idea of the estimated costs to expect. This article will highlight the University of Tennessee financial aid options, student costs, and the overall University of Tennessee rankings to help aid you in your school search.
University of Tennessee Rankings and Profile
- Accreditation: Southern Association of Colleges and Schools, Commission on Colleges
- Acceptance Rate: 75%
- Graduation Rate: 72%
- U.S. News and World Report Ranking: #103
- Times Higher Education Ranking: #301–350
University of Tennessee (UT) was established in 1794 and is one of the oldest institutions in the state. The university ranks highly among other public institutions and is known for its nursing, business, and engineering courses, as well as its clinical experiences at the University of Tennessee Graduate School of Medicine. The campus offers a great environment for student life, university housing, student research support, and sporting activities.
Most students at UT are fascinated by its large campus, vibrant downtown life, long list of historical landmarks, and thriving art spaces. The scenic beauty of the region also makes it desirable to students. It has a river running along the campus edges and offers abundant green space.
How Much Does University of Tennessee Cost?
The total cost of attendance at University of Tennessee depends on the program you’re enrolling in. It is also important to note that the school charges different tuition for in state and out-of-state students. Average student in-state tuition charges are often more affordable in both graduate and undergraduate degree programs. Below is a table containing the University of Tennessee tuition charges and semester fees breakdown.
University of Tennessee Tuition, Fees, and Other Expenses
| Expense | University of Tennessee Cost |
|---|---|
| University of Tennessee Undergraduate In-State Tuition and Fees | $13,244 |
| University of Tennessee Undergraduate Out-of-State Tuition and Fees | $31,664 |
| University of Tennessee Graduate In-State Tuition and Fees | $11,468 |
| University of Tennessee Graduate Out-of-State Tuition and Fees | $29,656 |
| University of Tennessee Books and Supplies | $1,598 |
The university’s sticker price for tuition is slightly higher than similar public universities in the same region, but it is about the same as the national average of $13,360 per year, according to the National Center for Education Statistics (NCES). The numerous University of Tennessee financial aid programs can reduce these high tuition costs for eligible students.
Tuition and fees can be paid in several ways, including via e-checks, credit or debit cards, third-party billing, cashier’s checks, and money orders. The school also offers a deferred alternative tuition plan for students who have good financial standing, allowing students to pay around half of their tuition first and complete the payment in two installments.
University of Tennessee Living Expenses
| Expense | University of Tennessee Cost |
|---|---|
| University of Tennessee On-Campus Room and Board | $12,150 |
| University of Tennessee Off-Campus Room and Board | $12,150 |
While the additional costs of room and board are not too costly at University of Tennessee, they are slightly higher than the national average. According to Education Data Initiative, public four-year universities charge an average of $11,303 annually for housing, while off-campus students only pay $10,631 per year.
Cost of Living in the University of Tennessee
The University of Tennessee is located in the city of Knoxville. Compared to cities like San Francisco, Knoxville is quite affordable. According to PayScale, the cost of living in Knoxville is around 18 percent lower than the national average. Housing in the city is also 29 percent lower than in the rest of the United States. The indirect costs of food and groceries are also around 13 percent lower than the national average.
University of Tennessee Financial Aid Statistics
University of Tennessee stands out when it comes to financial aid for its students. According to the school, 85 percent of undergraduates benefit from scholarship aid and other forms of financial aid. Eligible students are not required to repay scholarships, and they can be renewed for four years to support the cost of attendance.
According to the NCES, the types of financial aid available to students in this school include federal grants, state or local government grants, scholarships, federal student loans, and institutional grants or scholarships. Eligible students receive an average grant or scholarship amount of $10,884. The university also offers a work-study program that allows students to work part-time to cover some of their expenses.
Does University of Tennessee Accept FAFSA?
Yes, University of Tennessee accepts FAFSA. The Free Application for Federal Student Aid (FAFSA) is a form of federal student aid that is based on a student’s household income. The program’s aim is to make college more accessible and to limit student loan debt. First-year students should work with their parents or guardians to complete the application and be sure to update the form every year.
Does University of Tennessee Accept GI Bill Benefits?
Yes, University of Tennessee accepts GI Bill benefits. The university also has a resource center that helps veteran students adjust to their individual programs. The military members that can get support from this resource center include active-duty military personnel, reservists, veterans, and guardsmen.
Is University of Tennessee a Yellow Ribbon School?
Yes, University of Tennessee is a Yellow Ribbon school. However, there are only two programs where Yellow Ribbon funding is accepted. They include The College of Social Work graduate program and The Haslam College of Business’s Professional Masters programs.
Other programs in the university cannot currently receive Yellow Ribbon funding. The implication of this funding is that the VA will pay in-state tuition, then the Yellow Ribbon program will cover out-of-state tuition. According to the university, the VA covers allowable charges including programs and service fees, maintenance fees, health fees, semester fees, library technology fees, and facility fees under the Post-9/11 Bill.
University of Tennessee Scholarships and Grants
- Volunteer Scholarship. Applicants for this scholarship must be undergraduate students and have a minimum 3.8 GPA after their test scores and GPA are combined. Applicants must also be first-year students. The annual awards for eligible undergraduate students depend on their SAT or ACT scores.
- UT Tri-Star Scholarship Program. This scholarship is meant for first-year and transfer students, as well as continuing students who are eligible for the HOPE scholarship. First-year students must have less than $60,000 in annual family income. The award amount depends on the applicant’s eligibility for other scholarships and grants.
- Tennessee Explore Scholarship Program. This merit-based scholarship is offered to new first-year students who are also out-of-state students with a minimum 3.6 GPA. Candidates must submit an application for admission in their senior year to be considered for the Tennessee Explore scholarship.
- HOPE (Lottery) Scholarship. This scholarship is only for Tennessee residents, and it awards up to $2,250 to full-time students who are in their freshmen or sophomore year. The award can also reach $2,850 for full-time juniors or seniors. Recipients of this scholarship need to maintain a 2.75 HOPE GPA. It runs for the entire duration of the recipient’s degree program.
- Global Ambassador Scholarship. This scholarship provides additional funding for international students with excellent academic and volunteering records. Those who can apply include first-year international students who are not residents of Tennessee. The awarded applicant must be a full-time student with a minimum 3.0 GPA.
University of Tennessee Average Net Price by Income
| Family Income | University of Tennessee Net Price |
|---|---|
| $0 to $30,000 | $10,425 |
| $30,001 to $48,000 | $13,492 |
| $48,001 to $75,000 | $23,688 |
| $75,001 to $110,000 | $25,805 |
| $110,001 and up | $26,827 |
The table above is derived from the NCES and highlights the net price of University of Tennessee students based on their family income. Each amount was calculated on different student costs such as tuition, financial aid, expenses, federal student loans, and scholarships.
The total was reached by subtracting the forms of financial aid from the student’s total cost of attendance. This includes additional books and study materials, meal plan costs, tuition, room and board, and other compulsory fees.
How to Calculate the University of Tennessee Cost
The price of attending University of Tennessee is not the same for all graduate and undergraduate students. There are many factors that come into play while calculating the total cost of students’ programs of study. These include financial aid, residency, and family income. Applying for financial aid as soon as possible is your best bet to reduce your annual expenses.
The university has a net price calculator to make this process easier for students. The calculator gives you a personalized estimate when you add your academic information and family income, providing your out-of-pocket and financial aid costs to give you an opportunity to plan ahead. However, it is important to note that the estimated cost will not be fully accurate because indirect costs can increase and change over time.
Is the Cost of College Too High?
No, the cost of college is not too high. While there are a lot of student costs to cover, colleges offer financial aid that can help students pay for some of these expenses. In some cases, students can get enough financial aid to cover all their expenses for the duration of their degree program and avoid accumulating student loan debt.
University of Tennessee Student Debt
- Students Receiving Federal Loans: 38%
- Median Debt After Graduation: $20,500
- Average Monthly Loan Payment: $205
University of Tennessee’s median student debt after graduation is $20,500, and the average loan repayment per month is $205. These figures are considered lower than for most schools, as the national average for student debt is $30,300 per student for public school bachelor’s degrees, according to Education Data Initiative. This lower figure comes from people with professional work experience that can pay their student loan debt within ten years.
University of Tennessee Tuition Payment Plans
University of Tennessee gives students the option to pay for their degree program upfront or use a deferred payment plan. The plan allows students to pay 50 percent of their charges for the upcoming term along with a $30 service semester charge on the due date of each term.
After paying the first installment, the second installment is 25 percent and can be paid after 45 days. The last installment can be paid 30 days after the previous one. If students do not ensure that all fees are paid, they may be unable to access different services such as transcript requests and registration or receive their grades or diploma.
University of Tennessee Graduate Salaries and Outcomes
According to the US Department of Education’s College Scorecard, the average annual earnings of UT graduates is $52,676. The amount is based on students who were recipients of federal financial aid in college and have since gained professional work experience. This is higher than the midpoint average of $47,891 for other four-year universities.
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How to Save Money in College
- Avoid impulse purchases. Impulse purchases can make you spend more than you intend. The best way to avoid them is to cut down on spending binges. Delete shopping apps and other apps that make you order on impulse.
- Prepare a budget. Budgeting can help you remember why you are saving money, and shows you how to allocate your spending and track what has been spent. You can also check out the numerous mobile apps available to help you draw up a budget.
- Work in college. Some of your hours of college coursework can be balanced with a student job. Aside from earning a living while studying, student workers develop invaluable life skills, like communication and problem-solving, as well as experience that can be useful in the future.
- Apply for grants and scholarships. While grants and scholarships may seem complicated to come by, you should apply anyway. You never know how competitive one is, so apply to as many as you can to increase your chances of receiving extra financial support.
- Use the library. University libraries can save you money because you may be able to find additional books that are required for your degree program. All college libraries are free to use. You’ll also have access to other learning tools, such as student workstations, software, and student computer labs.
Is the University of Tennessee Affordable?
Yes, this university is quite affordable for most students. It has a long list of scholarship opportunities and grants that make it even easier to cover most of the school expenses. Furthermore, the cost of living in the state, as well as university housing, is more affordable than in many other locations and institutions. In-state students mostly benefit from lower tuition and other accompanying fees.
University of Tennessee Cost FAQ
Yes, University of Tennessee is expensive to attend. Tuition for in-state students is $13,244, while out-of-state and international students pay $31,664. The national average for in-state tuition is $11,331, which means UT is more expensive. However, it offers various financial aid options to reduce costs.
There is no stated minimum GPA requirement for first-year students at University of Tennessee. The admission offices assess students’ candidacy based on their rigor of coursework, extracurricular and volunteer work, and character. However, it is recommended to have a minimum 3.0 GPA to apply.
No, University of Tennessee is not hard to get into as 78 percent of applicants are accepted per year. As long as students have all the required documents and meet the eligibility requirements, they will likely be accepted.
No, University of Tennessee is not free for students. However, you can get financial aid to cover some, if not all, of your indirect costs. The school offers a host of scholarships and grants to make this possible.
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