Whether you’ve been in Waco for a few years or have yet to step foot on campus, you’re smart to be thinking of how to pay for Baylor. With a medical school ranked in the top 10, a picturesque campus, and a thriving sports community, you’ll be proud to be a Bear for many reasons. Read on for more details on how to pay for your time at Baylor.
How much does it cost to attend Baylor?
For the 2016-2017 academic year, undergraduate tuition at Baylor will cost $18,998 per semester, or $37,996 for the year. On-campus meal plans cost around $5,000 for the year, and residence hall fees are closer to $6,000; both will vary by the plan you select. Keep in mind other student fees such as parking permits, the $100 Chapel fee, and others.
For the same school year, graduate business students at the Hankamer School of Business will pay $21,403 per semester ($42,806 for the year) in tuition and fees. Over a two-year MBA program, that totals more than $80,000 in tuition alone, not to mention living expenses. These additional costs will vary based on whether you live on or off-campus and your discretionary spending habits.
Law students at Baylor are billed for tuition per credit hour – for a typical 14 credit hour semester, the cost is $18,312, or $36,624 for the school year. In addition to student fees, law students should take into account their living expenses during their three years at Baylor.
Baylor College of Medicine tuition is much less than many other top medical schools – particularly for residents of Texas, who paid just $6,550 for the 2015-2016 school year. Unfortunately for out-of-state students, tuition cost $19,650. Total cost of attendance for this year was estimated to be $31,450 and $44,550 for resident and nonresident students, respectively.
What kind of financial aid does Baylor offer?
Undergraduates at Baylor have access to various types of financial aid. In addition to federal need-based grants, residents of Texas are eligible for the Tuition Equalization Grant, which is awarded to students with demonstrated financial need. For students hoping to work to cover part of the cost of their education, the Federal Work-Study program is an option. Students who do not submit a FAFSA may also apply for University Work-Study, but keep in mind that Federal Work-Study students are given priority.
Undergraduate scholarships at Baylor fall into three different categories: Baptist, Committee, and Departmental scholarships. Baptist Scholarships are largely for students somehow associated with the Baptist church; Committee Scholarships are awarded to enrolled students, so are not available to freshman. Departmental Scholarships, however, include many options. The Baylor website even offers a search function, allowing you to identify the most appropriate Departmental Scholarships for your profile and path of study.
MBA students will be considered for tuition scholarships based on their admission application. These scholarships cover 25-100% of tuition and are awarded based on “work experience, GMAT/GRE score, and academic record”, in descending priority. Graduate assistantships are also available, and offer the option to work ~10 hours per week with a faculty/staff member in the business school. These positions are awarded on a first come, first served basis. Beyond scholarships and assistantships, submitting a financial aid application will ensure you are considered for grants, loans, and work-study programs as a business student.
Law students can rely on scholarships, federal loans, private student loans, and College Access Loans (for residents of Texas). Students who graduated from Texas A&M University or Abilene Christian University who hope to attend law school should seriously consider Baylor, as the Presidential Scholarship from Baylor offers a full-tuition scholarship to graduates of these schools. The Dean’s Academic Excellence Scholarship and Leon Jaworski Scholarship for Outstanding Undergraduate Advocates offer scholarships to promising entering students. For students who didn’t shine as an undergraduate, but do in law school, 2L and 3L Academic Scholarships offer these people the chance at merit scholarships.
Baylor College of Medicine MD candidates will be considered for both merit and need-based scholarships. Scholarships awarded based on financial need are primarily for students from disadvantaged backgrounds, and these funds are not guaranteed for more than one year.
What kinds of extras should I expect to pay for at Baylor?
If you’re planning to bring a car to Waco, be sure to account for costs like car payments, insurance, and parking. A yearly parking permit at Baylor costs $350. It’s not cheap, but much less expensive than parking would be in, say, a major metropolitan city.
Whether or not to have a car may depend on where you’re from. Other students recommend bringing a car if you’re from elsewhere in Texas. If you’ll need to fly home, however, chances are you’ll need to fly out of Dallas or Austin. Students recommend coordinating with friends from the city you’ll be flying out of to hitch a ride to the airport.
Greek life at Baylor is reported to be mediocre, but if joining a fraternity or sorority is on your bucket list, make sure you budget for membership dues and other expenses associated with Greek life. Sports, on the other hand, are quite popular, so if you’ll be traveling to many away games, consider how those costs will add up and ultimately impact your wallet.