Carnegie Mellon University

Access & Affordability

Carnegie Mellon works closely with families who are eligible for financial aid to develop a comprehensive financial aid package tailored to their circumstances. 

Student financial aid packages may be comprised of scholarships and grants, student employment, and loans. In addition, options like the monthly payment plan may be suggested as a way to help budget payments of educational expenses and to limit debt. Like any major investment, most families pay for education with a mix of current income, savings and borrowing. Finding the right balance among these resources can save money. 

Financing a Carnegie Mellon Education

Financing a college education takes commitment, creativity and perseverance. Carnegie Mellon commits millions of dollars annually toward financial need.

In 2016-2017, 94 percent of our full-time undergraduate students had their financial need met with packages that consisted of a combination of federal financial assistance and Carnegie Mellon dollars. Some packages also included state grants and outside scholarships. 

Over 75% of Carnegie Mellon's $113.6 million total financial aid expenditure was CMU grant dollars in 2016-17.
Source: Institutional Research and Analysis Factbook, 2017-18

CMU Enrollment Bulletin

The CMU Enrollment Bulletin showcases the latest research on financial aid, national student data, higher education topics and more. 

Topics include:

Financial Aid Landscape (pdf)

Return on Investment (pdf)

Managing Your Money

Personal financial literacy is more than just being able to balance a checkbook, compare prices or get a job. It also includes skills like long-term vision and planning for the future, and the discipline to use those skills every day. 

Our graduates have a low three-year loan default rate compared to similar institutions. CMU's default rate for fiscal year 2014 was 1.4% compared to other private, non-profit institutions, which was 7.0%. Source: Institutional Research and Analysis using data from the Department of Education.

Learn more about financial literacy at CMU