Financial Aid Q and A: The Basics New Haven CT

Financial Aid Q & A: The Basics

What is cost of attendance (COA)?
This refers to the total direct and indirect costs of a student's education expenses for an award year. Tuition, mandatory fees, room and board, books and supplies, transportation expenses, and personal expenses make up the traditional components of a student's COA. A cost of a computer can be included as part of the student's personal expenses as well. Some institutions may include other institution-specific expenses in a student's COA budget.

How much does college cost?
Just as the cost of an automobile depends on the make and model, college costs can vary widely. If your son or daughter attends a local community college and lives at home, your out-of-pocket costs for the entire academic year may only be a few thousand dollars. A state-supported public university will have a total cost of education anywhere from $10,000 to $17,000 a year. An Ivy League college education can easily cost $45,000 annually. (These costs are for the nine-month academic year and include tuition and fees, books and supplies, transportation expenses, room and board, etc.)

Author: Amy Ambler

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