Cost of attendance (coa)

Understanding the cost of attendance (COA) for college or university is crucial for financial aid eligibility. COA includes tuition, fees, room and board, textbooks, supplies, and other expenses. Remember that your Expected Family Contribution (EFC) from your FAFSA will determine how much aid you're eligible for. If you need help understanding your COA or have any questions about financial aid, don't hesitate to contact your school's financial aid office. They're there to help you navigate the process and ensure you're getting the financial support you need to succeed.

Cost of attendance includes both direct costs and indirect expenses:

• Direct costs are paid directly to the college, including tuition and fees, housing, and meal plan.

• Tuition is the amount you owe to attend college for classes and instruction. Some colleges may charge one set tuition rate, while others may charge per credit hour.

• Fees are additional charges to cover the costs of specific services, for example, technology or lab fees. 

• Housing is a charge from the college to live on campus. Depending on the amenities offered, different housing options on campus will cost different amounts.

• Meal plans are how you pay colleges to dine on campus. Colleges have different approaches to charging for meal plans, with some offering meal credits and others charging per food item. 

• Institutional health insurance may be required depending on the college. If required, it will automatically be billed to you and cost several thousand dollars. If you have a comparable health insurance plan, you can submit proof of your plan to waive this charge from your bill.

• Indirect "extra" expenses are educational costs not paid directly to the college. They can include textbooks, transportation, dorm furnishings, and other personal expenses.

Now, before you panic, let me explain a few ways you can save money on some of these items:

•  Indirect "extra" expenses- typically, when you review this section,  you can omit some of these expenses.  For example, you may not need a bus pass or a parking sticker.  Look at their list and see how to reduce the dollar amount. 

• Housing- the housing plan that's typically listed is for the top-tier (most expensive) housing.  Yes, I know you want your student safe, but this doesn't mean they must live in a mansion.

• Meal plans - meal plans are a lot like the housing plan.  The price listed is for breakfast, lunch, dinner, and snacks.  If we're all being honest, we know our students will be at Chick-Fil-A!

• Institutional health insurance- this may be required, but if it's not and you have health insurance, this can be removed.  

Before you finalize your decision, consider the following: