Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Applying for Student Loans and other Student Loan topics.
Each individual college or university determines what the cost of an education at their institution will be for the average student. They take into account more than just tuition and fees but include other costs like books, housing costs, and food. There may also be other educational expenses associated with the overall costs that are also figured in. College expenses are typically different for those students who commute from off-campus housing or live in the residence halls. Additionally, the costs calculated for a graduate student will vary from those identified for undergraduate students. The financial aid package awarded to a student is determined based on the cost of attendance as determined by all of the information provided. Essentially, your financial aid award takes the cost of attendance minus your expected family contribution to determine your financial need.
|Jennifer Mathes, Ph.D.|