College Factual  by our College Data Analytics Team
       Unbiased Factual Guarantee

Can You Afford Virginia Military Institute?

Concerned about paying for college? Take a look at VMI’s financial aid options, including grants, scholarships, and student loans, then calculate the net price based on your income level to determine if you can afford to attend this school.

Attendance Costs in 2020 - 2021 Varied Between $9,715 & $60,430

Worried about paying the full cost of $60,430 to attend Virginia Military Institute? That number can be deceiving, as the net amount most students will pay varies significantly.

For students living in Virginia, the school offers a discount of 59.3% off tuition and fees. Also, 68.3% of freshmen receive some form of financial aid, with the average amount totaling $16,807. Students from low-income families receive an average of $22,705 in aid during their first year.

Cost for Residents of Virginia (no aid)

Tuition and fees$19,210
+ Room and board$10,060
+ Other expenses$3,150
Total cost$32,420
Affordability Score (35 out of 100)
more expensive
less expensive

Net Price for Residents of Virginia (with average aid)

Total cost$32,420
- Grants and scholarships$16,807
Net price$15,613
Affordability Score (64 out of 100)
more expensive
less expensive

Average Net Price for Low Income Residents of Virginia

Total cost$32,420
- Grants and scholarships$22,705
Net price$9,715
Affordability Score (85 out of 100)
more expensive
less expensive

Cost for Non-Residents (no aid)

Tuition and fees$47,220
+ Room and board$10,060
+ Other expenses$3,150
Total cost$60,430
Affordability Score (8 out of 100)
more expensive
less expensive

Net Price for Non-Residents (with average aid)

Total cost$60,430
- Grants and scholarships$16,807
Net price$43,623
Affordability Score (3 out of 100)
more expensive
less expensive

Average Net Price for Low Income Non-Resident Undergraduates

Total cost$60,430
- Grants and scholarships$22,705
Net price$37,725
Affordability Score (3 out of 100)
more expensive
less expensive

Learn more about tuition and fees, room, board and other expenses, and financial aid options at VMI.

Projected Costs Between $44,834 and $388,420 For a Four Year Degree. Between $21,508 and $185,871 For a Two Year Degree.

It can be a bit scary to look at the total projected cost of a college education over the course of a multi-year degree, however, doing so will help you better understand the financial commitment you are making.

The overall cost for on-campus, in-state students to attend Virginia Military Institute in 2020 - 2021 was $32,420. To calculate future costs, we looked at the prior five years of data and determined that this cost increased an average of 3.3% each year.

If this trend continues, we expect the full cost for incoming freshmen to be $34,622 during their first year. By their senior year, that cost will be approximately $38,208, for a bachelor degree candidate ($35,778 for an associate degree candidate) for a total of $145,581 over the course of four years ($70,400 over the course of two years). These numbers do not take into consideration financial aid, which reduces this overall cost by varying amounts per student.

The cost for out-of-state students is more, with an overall expected four-year cost of $281,268 based on a yearly growth rate of 4.4%. The expected two-year cost is $134,595.

Remember, the full costs quoted above are not what most students will pay, and the net price varies quite a bit based on individual circumstances.

Average Net Price at Virginia Military Institute

Cost With Interest for Residents of Virginia

The tables below outlines how the overall degree net cost can vary depending on your situation. This table also highlights the impact student loans can have on the overall cost of college.

Projected 2-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*2.2%3.3%
Freshman year$10,536$16,320$34,622
Senior year$10,972$16,686$35,778
Total 2-year net price$21,508$33,006$70,400
10-year loan interest @ 6.8%$8,194$12,574$26,820
Total monthly payment$248$380$810
Total amount paid$29,702$45,580$97,220
Projected 4-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*2.2%3.3%
Freshman year$10,536$16,320$34,622
Senior year$11,900$17,442$38,208
Total 4-year net price$44,834$67,508$145,581
10-year loan interest @ 6.8%$17,080$25,718$55,461
Total monthly payment$516$777$1,675
Total amount paid$61,915$93,225$201,042

Cost With Interest for Out-Of-State Residents

The tables below outlines how the overall degree net cost can vary depending on your situation. This table also highlights the impact student loans can have on the overall cost of college.

Projected 2-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*3.7%4.4%
Freshman year$41,031$46,902$65,852
Senior year$42,791$48,632$68,743
Total 2-year net price$83,823$95,534$134,595
10-year loan interest @ 6.8%$31,933$36,395$51,276
Total monthly payment$965$1,099$1,549
Total amount paid$115,756$131,929$185,871
Projected 4-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*3.7%4.4%
Freshman year$41,031$46,902$65,852
Senior year$46,542$52,288$74,911
Total 4-year net price$174,992$198,249$281,268
10-year loan interest @ 6.8%$66,665$75,526$107,153
Total monthly payment$2,014$2,281$3,237
Total amount paid$241,657$273,774$388,420

Visit net price and financial aid to learn more about the total cost of attending Virginia Military Institute.

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