According to the latest figures, tuition for the 2022-23 school year at Lees-McRae College rose by 1.9%, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the four-year private not-for-profit institution paid $28,840 this year, an increase of $550 from the $28,290 charged during the 2021-22 academic year.
Approximately 45% of the undergraduate student body at Lees-McRae College are residents of North Carolina, while about half come from other states. International students make up roughly 5% of the population.
Data indicates that every full-time undergraduate who began studies at Lees-McRae College in 2022-23 received some form of financial aid. A total of 211 students were awarded grants or scholarships amounting to $4.2 million, and 193 students secured student loans exceeding $1.4 million.
Among all undergraduates, 830 students received grants or scholarships totaling $15.6 million. Additionally, 740 students obtained federal student loans amounting to $4.9 million.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 59 | 28% | $339,033 | $5,746 |
| State / local grant or scholarship | 49 | 23% | $351,870 | $7,181 |
| Institutional grants or scholarships | 211 | 100% | $3.5 million | $16,663 |
| Grant or scholarship aid total | 211 | 100% | $4.2 million | $19,937 |
| Federal student loans | 192 | 91% | $1.1 million | $5,800 |
| Other student loans | 16 | 8% | $290,955 | $18,185 |
| Student loan aid | 193 | 91% | $1.4 million | $7,278 |
| Total student aid | 212 | 100% | $5.6 million | $26,468 |
