$35,780..
$35,780..

For a year at Loyola University Chicago, it costs $35,780. I go for 1 semester, so $17,890 for Spring of 2007.

Bah!

Now I never realized how expensive Loyola really was. I was (and will be) paying approximately $11-12k/semester for my Loyola education. But my financial aid report doesn’t report my need-based grants. So the cost of a Loyola Education is $35,780 a year. Including Room and Board, of course.

See, Loyola Financial Aid thinks I am going part time. Which isn’t exactly true. I am going 0 time. I am not taking courses for one semester while visiting another school. So essentially Loyola considers me a “student” who is simply not taking credits. I am a student in the sense that I am already accepted to the university and have a record there, but not that I am taking courses this fall. But when I want credits to go back in to Loyola I am treated as a transfer student. Sorta.

Anyways, I’ll get everything sorted out before Spring 2007.

Still… $11-12k/semester is a ton of money. I am more than willing to spend it, because I signed up for a top-quality Jesuit education, but with UWM costing me $3.5k/semester in tuition (no room and board) I just have to wonder, is my education worth it.

Actually. That is interesting. Room and board at Loyola is listed at $9,614/year. That’s $4807/semester. Figure 11k-5k = 6k/semester in tuition after financial aid. The cost of UWM for me to stay at home is $3480/semester. So it is $6,000 for Loyola, and $3500 for UWM. Now remember, I get NO financial assistance to stay in Loyola’s dorms, it just isn’t setup that way.

So if you planted UWM in Chicago, and I was in their dorms, I would pay essentially $2.5k less to go to UWM, assuming the housing is the same price (high cost of housing will apply to any school there.)

Hmm, interesting. So the premium that I am paying at Loyola is twofold: I am getting a great high-quality education (which I could get at UWM too,) and I am staying in a great city. All for (this is a rough one) $4800/semester in room and board and $6200 in tuition.

Thank god for Financial Aid. And yes, the premium to live in Chicago is worth every cent.

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