If you’ve spent five minutes looking at the cost of DePauw University, you probably felt a slight pang of chest pain. $80,000. That’s the number floating around for the 2025-2026 academic year. It’s a massive, terrifying figure that looks more like a mortgage than a year of school in Greencastle, Indiana.
But honestly? Almost nobody pays that.
The "sticker price" at private liberal arts colleges is basically a polite fiction. It’s like the MSRP on a car that no one actually buys for that price because there’s always a rebate, a trade-in, or a seasonal sale. At DePauw, the "sale" is the financial aid office, and they are incredibly busy.
The Brutal Reality of the Sticker Price
Let’s look at the raw numbers first, just so we know what we’re dealing with. For the 2025-2026 academic year, DePauw officially raised its tuition and fees. The Board of Trustees approved a 3.8% hike, which is pretty standard for the industry but still sucks for your wallet.
Here is what the university actually bills you for:
- Tuition: $60,310
- Housing and Meals: $15,790
- Mandatory Fees: $1,120
Total direct cost? $77,220.
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That doesn't even count the "indirect costs." You know, the stuff that doesn't show up on a university bill but definitely disappears from your bank account. We're talking $950 for books (if you buy them new, which... don't), $800 for travel, and about $1,650 for "personal expenses" like late-night pizza and laundry detergent.
When you add it all up, the full cost of attendance (COA) hits roughly $80,690.
Why 99% of Students Don't Pay That
If everyone paid 80k, the campus would be a ghost town. Instead, DePauw is one of those schools where nearly everyone gets a discount. In fact, roughly 98% to 99% of first-year students receive some form of financial assistance.
The average aid package is currently sitting around $42,882.
Think about that. The average student is getting more than half of the cost chopped off right from the start. This brings the "net price"—what you actually pay out of pocket or through loans—down to a much more manageable (though still significant) range.
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The Net Price by Income Bracket
This is where the math gets interesting. Your actual cost of DePauw University depends almost entirely on your family's tax returns. Based on recent data for the 2025-2026 cycle, here is a rough look at what families are actually paying:
- Income $0 – $40,000: Many of these students pay $0 in tuition, with a total net price often landing under $5,000 for living expenses.
- Income $40,000 – $80,000: The average net price hovers around $1,790 to $15,000.
- Income $80,000 – $120,000: Expect to pay roughly $12,000 to $23,000.
- Income $120,000+: This is where it climbs. If your family makes over $200k, you might still be looking at **$33,000+** after merit scholarships.
Merit Scholarships: The "Academic" Discount
DePauw is famous for its Rector Scholarship. It’s their "holy grail" award. Established back in 1919, it’s a full-tuition merit scholarship. They usually give it to the top 5% of the applicant pool. If you have a 4.0 GPA and a killer resume, you aren't just looking for a discount; you're looking for a free ride on the tuition side.
Even if you aren't a "Rector Scholar," the DePauw Distinguished Scholarship provides merit-based support that can cover up to half the cost of attendance. The best part? You don't even have to fill out a separate application for most of these. They just look at your admission file and say, "Hey, we like you. Here’s $35,000."
The Hidden Costs Nobody Mentions
If you decide to go to DePauw, you’ll likely hear about "Extended Studies." This is DePauw-speak for Winter Term and May Term.
Basically, you take one intensive class for a few weeks. Some are on campus (usually included in tuition), but others are off-campus study programs. If you want to go to Greece or study film in Los Angeles, you’re going to pay extra. Fees for these "Tier" programs can range from $2,500 to $5,000 or more, depending on where you're headed.
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Also, music students get hit with extra fees. Private 60-minute lessons? That's another $1,100 per semester. It adds up.
Is It Actually Worth It?
Is a school in a small Indiana town worth $30,000 to $80,000 a year?
It depends on what you want. DePauw has a massive endowment—over $750 million. That money goes into a 10:1 student-to-faculty ratio. You aren't sitting in a 500-person lecture hall. You’re in a room with 15 people and a professor who actually knows your name.
They also have a 75% graduation rate and a very strong alumni network (the "DePauw Mafia") that helps kids land jobs at places like Eli Lilly, Goldman Sachs, and major news networks.
Actionable Next Steps for Families
Don't let the $80,000 number scare you off before you do the work. If you're seriously considering DePauw, follow this specific checklist to find your real price:
- Use the Net Price Calculator: Go to the DePauw financial aid site and plug in your real numbers. It takes 10 minutes and is way more accurate than a brochure.
- File the FAFSA and CSS Profile: DePauw uses both. If you miss the CSS Profile deadline, you might miss out on institutional "need-based" money that the FAFSA doesn't cover.
- Negotiate: If you get a better offer from a similar school (like Denison or Butler), call the DePauw financial aid office. They often have "wiggle room" if they really want you in the freshman class.
- Check the Rector Requirements: If you’re a high-achiever, make sure your application is in by the Early Action deadline to be considered for the top-tier merit awards.
The cost of DePauw University is a moving target. It’s expensive, yes. But for the vast majority of students, the actual check they write is significantly smaller than the one advertised on the website.