These annual costs for Loyola University Maryland and the average Maryland schools include tuition, fees, living expenses, books, and fees minus the average grants and scholarships for federal financial aid recipients.
|In-state Tuition||Out-of-state Tuition||Median Debt||Total In-state Annual Cost|
|Loyola University Maryland||$47,560||$47,560||$27,000||$35,867|
As you can see, annual costs at Loyola University Maryland have risen over the last few years, and are projected to continue to skyrocket based on our analysis.
Actual Costs Projected Costs
Colleges and universities across the United States experienced cost (tuition + living) increases of 2.5% in 2019. This most recent inflation figure was down slightly from the 2.9 percent in 2018 and 3.4 percent in 2017, but still underscores the rising costs of sending your children to higher education.
These rising costs are hitting closer to home in Maryland as well. Maryland's' higher education costs rose by 12.8% in just the last 10 years, ranking as the 47th highest state.
53% of students enrolled at Loyola University Maryland receive some form of Federal loan assistance. You can view Loyola University Maryland's student aid calculator here.
One of the most sound investments you can make to help pay for your child's higher education is by using a 529 plan. These funds grow in a tax-free environment, and generally have a 3-5% rate of return. The only catch is that all funds need to be used for higher education, and if not... there are monetary penalties imposed when withdrawn for other uses.
Maryland offers one direct-sold 529 college savings plan and a prepaid tuition program. The savings program is managed by T. Rowe Price and offers age-based and static options using T. Rowe Price mutual funds. Enrollment in the prepaid tuition program is open to account holders or beneficiaries who are residents of Maryland or the District of Columbia at the time of enrollment.
|State Plan Name:||Maryland529|
|Maximum Contribution:||up to $350,000 per beneficiary, across accounts|
|Fees:||No enrollment or account maintenance fees; 0.26% to 0.74% in asset-based fees, depending on your portfolio; 0.05% Trust Fee|