Ferrum's tuition & fees has increased from $29,795 (2014) to $38,320 (2024), and the rate of tuition increase is 28.61% over the past 10 years. The graduate school tuition & fees has raised from - (year 2014) to $9,000 (year 2024).
Ferrum's tuition increase rate is higher than the Virginia's average increase rate of 27.81%. Compare to all colleges in United States, it's increase rate is higher than the average increase rate of 28.12%.
Cost of Attendance (COA) Trends
The total cost of attendance (COA), including tuition & fees, books & supplies costs, and living costs, increased by 30.46% from 2014 ($42,235).
For the current academic year 2023-2024, Ferrum's COA is $55,100, which is same as last year cost.
The following table and chart show changes to Ferrum's COA over the past 10 years.
Tuition & Fees Changes
The tuition & fees have increased 28.61% for the last 10 years , and the 2024 tuition & fees are $38,320. The following table and chart show the tuition & fees changes at Ferrum College over last the 10 years.
Books & Supplies Costs Changes
The cost of purchasing books & supplies which are required/recommended for courses $1,000, and it has increased 25.00% from the year 2014 to 2024.
| Year | Books & Supplies | Change by Year |
|---|
| 2014-15 | $800 | - |
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| 2015-16 | $800 | |
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| 2016-17 | $800 | |
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| 2017-18 | $800 | |
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| 2018-19 | $800 | |
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| 2019-20 | $800 | |
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| 2020-21 | $800 | |
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| 2021-22 | $800 | |
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| 2022-23 | $1,000 | 25.00% |
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| 2023-24 | $1,000 | |
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Living Costs Changes
The living costs including room, board, and other living expenses have increased 26.04% when a student lives on-campus facilities and 66.98% when living-off campus from the year 2014 to 2024. The following table shows the changes in living costs at Ferrum College.
| Year | Living On Campus | Living Off Campus | Change by Year |
|---|
| 2014-15 | $11,640 | $8,570 | - |
|---|
| 2015-16 | $11,995 | $8,575 | 3.05% |
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| 2016-17 | $12,765 | $12,765 | 6.42% |
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| 2017-18 | $13,160 | $13,160 | 3.09% |
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| 2018-19 | $13,555 | $13,555 | 3.00% |
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| 2019-20 | $14,550 | $14,550 | 7.34% |
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| 2020-21 | $15,450 | $15,450 | 6.19% |
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| 2021-22 | $15,450 | $15,450 | |
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| 2022-23 | $15,780 | $15,780 | 2.14% |
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| 2023-24 | $15,780 | $15,780 | |
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Compare Tuition Change to Similar Colleges
The following table compares 2024 tuition and increase rate from last year between Ferrum College and similar schools.
| 2024 | 2023 | Increase Rate |
|---|
| Ferrum College | $38,320 | $38,320 | - |
|---|
|
| Liberty University | $15,822 | $16,203 | -2.35% |
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|
| Regent University | $20,686 | $19,680 | 5.11% |
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|
| Shenandoah University | $36,028 | $35,170 | 2.44% |
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|
| University of Richmond | $62,600 | $60,330 | 3.76% |
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| Marymount University | $38,250 | $36,800 | 3.94% |
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