Estimated Budget
Graduate Estimated Expense Budget
The estimated budget covers tuition and fees and an estimated cost for living expenses in the Pasadena area. Several estimates are given — for living on campus in a single, double and quad apartment, and another for off-campus apartments. Please check Graduate Housing for detailed information on Caltech's current Housing Contracts and Rates. The following estimate is based on the best information available from the Institute and surveys of housing costs in the surrounding community. The estimated budget is part of the official basis for determination of financial aid.
Financial Package
Graduate stipends are paid monthly, on or around the 26th of each month. The stipend is intended to support living expenses for a single student. The financial package includes coverage of the tuition and mandatory fees assessment, and Caltech's contribution to the student health care plan. The PhD stipend rate for academic year 2024-25 for all divisions is $46,500 ($3,875/month). On September 1, 2025, the graduate stipend will increase to $48,244 ($4,020/month), and on September 1, 2026, will again increase to $50,000 ($4,166/month). Stipends are considered taxable income.
Tuition and Mandatory Fees
| Annual | Fall Term 2024 | Winter Term 2025 | Spring Term 2025 | |
|---|---|---|---|---|
| Tuition | $63,402 | $21,134 | $21,134 | $21,134 |
| Mandatory Fees | $2,304 | $768 | $768 | $768 |
| Total Tuition and Mandatory Fees | $65,706 | $21,902 | $21,902 | $21,902 |
| Annual | Fall Term 2025 | Winter Term 2026 | Spring Term 2026 | |
|---|---|---|---|---|
| Tuition | $65,622 | $21,874 | $21,874 | $21,874 |
| Mandatory Fees | $2,379 | $793 | $793 | $793 |
| Total Tuition and Mandatory Fees | $68,001 | $22,667 | $22,667 | $22,667 |
Estimated Average Cost of Living, 2025-26
| On-Campus | On-Campus | On-Campus | Caltech-owned lease properties | |
|---|---|---|---|---|
| Per Bed | Per Bed | Per Unit | Per Unit | |
| 4-bedroom | 2-bedroom | 1-bedroom | 2-bedroom | |
| Housing and Utilities | $10,920 | $13,320 | $21,180 | $23,700 |
| Food | $8,904 | $8,904 | $8,904 | $8,904 |
| Book and Supplies | $1,400 | $1,400 | $1,400 | $1,400 |
| Health, Dental and Vision | $965 | $965 | $965 | $965 |
| Personal Expenses | $9,585 | $9,585 | $9,585 | $9,585 |
| Total Living Expenses | $31,774 | $34,174 | $42,034 | $44,554 |
Notes
Caltech provides a variety of on-campus housing options available to incoming graduate students. All new graduate students are guaranteed housing in their first year and can choose a living experience that best fits their needs.
First-year students should anticipate additional relocation and set-up expenses. On-campus apartments come furnished, but you will need to supply your own linens and personal items.
Caltech's lease properties are rented to a primary leaseholder who is responsible for rent collection from any other residents. These lease properties are suitable for students with families or multiple students wishing to live together.
For comparison, as of July 2024, the average monthly rents in Pasadena range from $1,937 to $3,404, plus utilities for a studio, 1-bedroom, and 2-bedroom apartment.
Under the current Internal Revenue Code, stipends are subject to income tax, but the tuition is not taxable. Taxes should be included in budget planning.
Health insurance is mandatory for all graduate students unless students meet eligibility for a waiver, but dental and vision insurance are optional. The published health insurance rate takes into account a 90% Institute subsidy. For more information on the health, dental and vision plans or waiver eligibility requirements, please refer to the Benefits website.