About Cost Of Attendance

tuition feesStudents who intend to pursue a college education must learn about the cost of attendance or COA. Many people assume the tuition is all they need worry about, but the cost of attendance is a far more comprehensive number that takes into account many more expenditures than tuition does. It is important to know the cost of attendance as it enables students to determine how much money they need to cover the cost of their college education. The expected family contribution is another factor that needs to be considered in determining your financial need. It is an estimated sum that a family can offer to a student on the basis of its household income. In other words, your demonstrated financial need is equal to the cost of attendance minus your Expected Family Contribution. If your cost of attendance is greater than the expected family contribution you can apply for financial aid through different resources.

Factors

Factors that help to determine the cost of attendance include tuition and fees, personal costs, books and supplies, transportation in addition to room and board. You need to combine the cost of all these expenses to know if you are eligible for financial aid that is meant for students with low family income.

Benefits

Calculating the cost of attendance enables you to know if you can get financial assistance to meet your educational expenses. Students with financial need can easily avail federal financial aid in the form of grants or loans. Knowing the cost of attendance is vital even if you do not qualify for financial aid based on need. In this case, you can get to know how you can manage your college tuition using alternate means. It is important to know the cost of attendance before enrolling in a college so that you can manage your finances responsibly throughout your time in college-take the time and calculate it!

 

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