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What are the 5 expenses of cost of attendance?

What are the 5 expenses of cost of attendance?

Cost of attendance (COA) is a college’s total estimated expenses for one year including tuition, room and board, books, supplies, transportation, loan fees, and miscellaneous expenses.

What is not included in cost of attendance?

You are not required to monitor COA components from other schools attended by the student; Tuition and fees; An allowance for books and supplies; Transportation (but not miscellaneous & personal expenses); and.

Is FAFSA based on cost of attendance?

To determine how much non-need-based aid you can get, the school takes your cost of attendance and subtracts any financial aid you’ve already been awarded.

What is personal in cost of attendance?

All students need to have a budget for personal expenses such clothing, personal items, laundry, going to a movie, or buying a pizza.

How does fafsa calculate cost of attendance?

The financial aid staff starts by deciding upon your cost of attendance (COA) at that school. They then consider your Expected Family Contribution (EFC). They subtract your EFC from your COA to determine the amount of your financial need and therefore how much need-based aid you can get.

How does FAFSA calculate cost of attendance?

Can you borrow more than your cost of attendance?

Federal law states that you are only allowed to borrow federal student loans up to the cost of attendance minus other aid. Private student loans typically have similar restrictions.

What can I use FAFSA money for?

What can you use federal or state financial aid for?

  • Tuition and fees.
  • Room and board (including off-campus housing)
  • Books and supplies.
  • Transportation (cost of travel to/from school, but not for the purchase of a vehicle)
  • Miscellaneous personal expenses.

What are 4 types of financial aid assistance?

Grants, work-study, loans, and scholarships help make college or career school affordable.

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