Beal University saw a 5.5% rise in tuition fees for the 2022-23 school year, as revealed in recent data, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the private, for-profit four-year institution paid $39,570 this year, an increase of $2,070 from the $37,500 charged in the 2021-22 academic year.
Approximately 96% of the university’s undergraduate students are residents of Maine, while around 4% come from other states.
Data indicates that 94% of full-time undergraduates who began their studies at Beal University in 2022-23 received some form of financial aid. A total of 161 students were awarded grants or scholarships amounting to $793,598, and the same number of students borrowed over $1.1 million in student loans.
Across all undergraduate students, 438 received grants or scholarships totaling $2.4 million. Additionally, 485 students took out $3.5 million in federal student loans.
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 Beal University 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 | 161 | 87% | $617,032 | $3,832 |
| State / local grant or scholarship | 106 | 57% | $165,242 | $1,559 |
| Institutional grants or scholarships | 0 | 1% | $0 | $0 |
| Grant or scholarship aid total | 161 | 87% | $793,598 | $4,929 |
| Federal student loans | 161 | 87% | $1 million | $6,494 |
| Other student loans | 0 | 2% | $0 | $0 |
| Student loan aid | 161 | 87% | $1.1 million | $6,652 |
| Total student aid | 174 | 94% | $1.9 million | $10,716 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
