Undergraduate Expenses

For first-year and transfer students applying for admission, there is a $75 application fee. This fee is nonrefundable.

Housing contracts must be submitted to the Housing Office by the date specified in the instructions accompanying the contract.

The chart below lists the estimated nine-month, full-time cost of attendance budgets that are generally applicable to Caltech undergraduate students enrolled in the 2025-26 school year. With the exception of the Orientation Fee, all direct charges, i.e., tuition, fees, housing and food, are divided evenly between the fall, winter and spring terms.

^{1. Fees do not include the Caltech Student Health Insurance Plan. Students are not required to purchase health and dental insurance through Caltech provided they have coverage through a comparable plan. The plan will cost for health insurance $5,049 for the 2025-26 school year—$1,683 per Insurance Term and for dental insurance $135 and vision insurance $30.96 for 2025-26 school year, one-time fee in Fall term. Financial aid recipients who enroll in the Caltech Student Health Insurance Plan may request that the expense be added to their estimated cost of attendance by completing the Financial Aid Request for Caltech Student Health Insurance Plan form. Students will be offered grant assistance to cover the additional expense.} 

^{2. All entering undergraduate students are charged a one-time, $500 Orientation Fee in addition to the mandatory fees applicable to all undergraduate students.}

^{3. A reasonable allowance for the purchase of a personal computer may be added to this estimated cost upon request.}

^{4. A Travel Allowance to (partially) offset the cost of two round trips from a student's primary residence may be added to this estimated cost of attendance for U.S. Citizens or eligible non-citizens who reside in the US, associated US territories, Canada, or Mexico.}

Each new student is required to pay a general deposit of $100. Upon graduation or withdrawal from the Institute, any remaining balance of the deposit will be applied to the student’s outstanding balance or refunded if there is no unpaid balance.

The tuition and fees charge for all students is payable in full before the first day of classes unless the student enrolls in the Transact Payment Plan Option per term. The fee to enroll in the plan is $35.00 per term. You will need to enroll during the Enrollment dates only: Fall Term - 9/11/2025-9/24/2025, Winter Term - 12/11/2025-12/24/2025, and Spring Term 3/11/2026-3/24/2026.

Tuition for the baccalaureate degree is based on four years (12 terms) of academic enrollment regardless of unit load each term or if a student completes graduation requirements a term(s) early. The 12 term academic enrollment requirement is separate from and in addition to any other degree requirements. Official study abroad programs listed in the Catalog fulfill one term of the 12 term requirement.

Since a Caltech degree is based on a four-year enrollment requirement, entering students should expect to be on campus and in person and to be billed tuition for a full four years. Any exceptions must be approved by the dean of undergraduate students and the vice president for student affairs. In addition, aid may not be disbursed to a student to cover full tuition if they are no longer attending classes.

A $50 late penalty will be charged by the Bursar’s Office for failure to clear a past-due account at the beginning of each term.

Registration is not complete until the student has enrolled in a program approved by their adviser and has paid tuition and other fees. A penalty fee of $50 is assessed for failure to register within five days of the scheduled dates.

All bills owed the Institute must be paid when due. Any student whose bills are past due may be refused registration for the following term. All undergraduate students with an outstanding bursar’s bill balance of $300 or more will have a hold placed on their registration for the subsequent term the day before online registration opens. The hold will be released once payment reducing the balance to less than $300 has been cleared by the Institute’s bank, which typically occurs 3-5 business days after payment is initiated through Transact/CASHNet. The hold will be released once students have paid their bill at the Bursar’s Office. Diplomas will not be released until the bursar account is paid in full.

If an undergraduate student owes more than $300, the student’s ID card will be deactivated and they will be unable to charge any new purchases. Cards will be reactivated once students have paid their bill in full at the Bursar’s Office.

For all students, the institutional charges, e.g., tuition and housing and food, will be prorated according to the amount of time the student spent in academic attendance before withdrawing from the Institute before the end of the sixth week of the term. These prorated charges will be compared to the payments received on behalf of the student, and the Institute will determine whether the student is entitled to a refund or owes additional funds to Caltech.

For students receiving funds from federal Title IV, from Caltech, and/or from state programs, the Institute will follow federal and other applicable regulations to determine the amount of all program funds the student has earned at the time of withdrawal. In general, the amount of financial aid earned is based on the amount of time the student has spent in academic attendance. If the amount of aid disbursed to the student is greater than the amount the student has earned, unearned funds must be returned. If the amount the student was disbursed is less than the amount the student earned, the student will be eligible to receive a post-withdrawal disbursement.

Post-withdrawal disbursements are required when a student has completed all necessary forms, was enrolled at time of disbursement or earned more Title IV aid than received. A student is entitled to receive their full aid eligibility based on the earned percentage. The institution has up to 45 days to disburse any grant funding to the student. If a post withdrawal disbursement is identified the student is notified via email by a Financial Aid staff member of their additional aid eligibility. Loans must be offered to the student within 30 days, allowing the student at least 14 days to respond. After 14 calendar days Caltech is not responsible for making any post-withdrawal loan disbursements.

All post-withdrawal disbursements are applied to the student account first, and any resulting credit balance on the student's account must be disbursed as soon as possible and no later than 14 days after the calculation of R2T4.

The Registrar’s Office is responsible for obtaining requests for withdrawal from the undergraduate or graduate dean and for processing official withdrawals. In order to calculate the refund or repayment, Caltech will establish the student’s withdrawal date. This date is one of the following:

• the date that the student began the withdrawal process prescribed by Caltech;
• the date the student otherwise provided notification to the Registrar’s Office (written or oral) of their intent to withdraw;
• the midpoint of the academic term if no official notification is provided;
• the date determined by the registrar if there are special circumstances (illness, accident, grievous personal loss); or
• the date the registrar determines the student has not returned from an approved student sabbatical or if the student does not qualify for a sabbatical.

The Institute may use the last date of attendance at an academically related activity as the student’s withdrawal date. This may occur if a student begins the withdrawal process and then attends an academically related activity after that date. Caltech considers an academically related activity to include the following:

• attendance at a lab
• attendance at a lecture
• completing a quiz and/or test
• participation in a study session
• turning in a class assignment

Activities excluded from being used in determining the last date of attendance include:

• logging in without participation
• academic counseling or advisement session
• participation in housing or meal plans

The Financial Aid Office will calculate the federal funds that must be returned to the appropriate federal accounts. If a student withdraws from the Institute prior to the first day of classes for the period of enrollment, Caltech will return 100 percent of the student’s federal financial aid in accordance with federal procedures. If a student withdraws any time after the first day of classes for the period of enrollment, the Institute will perform the following:

• Determine the percentage of the payment period that the student completed. If the student completed more than 60 percent of the period, they earned 100 percent of the aid for the period. If the student completed 60 percent or less, the percentage of the period completed is the percentage of aid earned. This percentage is determined by dividing the number of days attended in the period of enrollment by the total days in the period.
• Apply the earned percentage to the amount of aid actually disbursed and the amount that could have been disbursed (”earned aid”).
• Subtract earned aid from aid that was actually disbursed. This results in the amount of unearned aid to be returned.
• The Financial Aid Office will allocate the return of funds back to the student aid programs in the following order:

1. Federal Direct Unsubsidized Stafford Loan Program
2. Federal Direct Subsidized Stafford Loan Program
3. Federal Direct PLUS Loan Program
4. Federal Pell Grant Program
5. Federal SEOG Program
6. Other Title IV programs

*Federal Work Study is not included in any of these calculations.

R2T4 Formula Calculation

The following two sample R2T4 worksheets layout all the steps involved to calculate return to title IV aid:

• Sample Worksheet 1: Sample-R2T4.pdf
• Sample Worksheet 2: Sample2-R2T4.pdf

Exceptions for R2T4 calculations:

• Continues to attend at least one Title IV-eligible class
• Did not receive, and is not eligible to receive, any Title IV aid
• Has only received, or is eligible to only receive, Federal Work-Study funds

Special Scenarios for R2T4 calculations

• Student Death: Caltech will perform an R2T4 calculation but will not make any post-withdrawal disbursements to the student’s estate.
• Consortium Agreements: The institution that disburses Title IV funds is responsible for performing R2T4 and returning unearned funds.
• Re-entry: A student who re-enters the same program within 180 days retains eligibility for prior aid, including amounts returned under R2T4.

Any questions or problems related to refunds should be directed to the Bursar’s Office. For further information on refunds and repayments, contact the Financial Aid Office, the Graduate Office, or the Bursar’s Office.

Students who register for less than 36 units (”Underload”) will not receive a reduction of tuition. Full tuition will be charged to underloading students’ accounts. Also, applicable financial aid will be reduced, in underload situations. For specific information on underload requirements, and special circumstances where an underload may be granted, see Excess of or Fewer Than Normal Units (Overloads and Underloads). Information regarding financial aid and underloads can be found in finaid.caltech.edu/policies/underloads.

For those undergraduate students who are eligible for underloading after completing 12 terms or by approved medical exception (Excess of or Fewer Than Normal Units (Overloads and Underloads), the tuition will be adjusted after Add Day at the AY2025-26 rate of $608 per unit plus $862 for student fees per term. The minimum tuition amount is ten units, a charge of $6,080 per term plus the $862 student fee.

Any student who wishes to carry fewer than 36 units in any given term must petition for an underload. Underloads must be approved by the Deans. Underloads for graduating seniors must be approved by the Registrar.

PLEASE NOTE: The Institute will charge students for a minimum of 12 terms of full-time tuition, even if they complete their degree requirements early. Students may NOT receive scholarship assistance for any term in which they are not enrolled at least half-time.

Undergraduate students who underload in a term will have their financial aid, including outside scholarships, adjusted based on the actual number of units students are enrolled in as of Add Day. However, the student's Caltech account will be charged full-time tuition.

Additional information is available in the Financial Aid Office. For more information about impact to aid, see finaid.caltech.edu/policies/underloads

When a student, for whatever reason, withdraws from Caltech during an academic term, a refund of tuition as well as housing and food, if applicable, is calculated. The amount of refund is determined by how much of the term has elapsed. If the student is a recipient of student financial assistance, that assistance, if applicable, will be reduced as a result of their withdrawal. Recent federal legislation determines the amount of refund for recipients of federal Title IV student assistance. It is the purpose of this section to inform students of the financial implications of withdrawal.

If the student is not a recipient of federal financial aid, the Institute’s refund policy returns any refund of tuition or housing and food first to the programs from which assistance has been received (i.e., scholarships, Caltech gift assistance). Any amount remaining will then be returned to the student. The non–Title IV portion will be distributed as appropriate, first to outside agencies, as required, then to the Caltech grant, scholarship, or loan, depending on the composition of the aid package. These distributions will occur as credits to the appropriate aid funds and charge(s) to the student’s Caltech account.

If the student is the recipient of federal Title IV student assistance, any refund must then be applied first to the federal aid program(s) in the prescribed order listed under Determining the Return of Federal Funds.

In the event that a student’s disbursed financial aid exceeds the direct costs on the student’s personal account, a credit balance will result. Withdrawal will result in the reversal or repayment of the resulting credit balance.

Monies owed to the Institute resulting from a disciplinary decision may be collected through the Bursar’s Office, at the request of the dean of students.

Students taking the Summer Field Geology course (Ge 120 ab) should consult with the division about travel and subsistence arrangements and costs.