The tuition fee for the 2022-23 school year at Thomas College rose by 2.9%, as revealed in the most recent report, according to the latest disclosure from the National Center for Education Statistics.
Students paid $29,996 to attend the private, four-year, not-for-profit institution this year, which is an increase of $844 compared to the $29,152 charged during the 2021-22 academic year.
Approximately 77% of the undergraduate student body at Thomas College are residents of Maine. Students from other states make up about 16%, while international students account for 7%.
Data indicates that all full-time undergraduates who began their studies at Thomas College in the 2022-23 school year received some form of student financial aid. A total of 233 students were awarded grants or scholarships amounting to $5.8 million, and 197 students borrowed over $1.5 million in student loans.
Across the entire undergraduate population, 652 students utilized grants or scholarships totaling $14.8 million. Additionally, 551 students took out federal student loans totaling $3.5 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.
The following data includes only full-time students who began an undergraduate program at the Thomas College in the 2022-23 school year.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 94 | 40% | $634,049 | $6,745 |
| State / local grant or scholarship | 84 | 36% | $208,550 | $2,483 |
| Institutional grants or scholarships | 233 | 100% | $5 million | $21,251 |
| Grant or scholarship aid total | 233 | 100% | $5.8 million | $24,868 |
| Federal student loans | 194 | 83% | $1.1 million | $5,432 |
| Other student loans | 39 | 17% | $457,324 | $11,726 |
| Student loan aid | 197 | 84% | $1.5 million | $7,671 |
| Total student aid | 233 | 100% | $7.3 million | $31,353 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
