Important Terms:
Cost of Attendance- This is the estimated cost of attending school and living in the area that the university has generated. This cost is just an estimatate and it does NOT mean you have to pay the entire amount. This number is generated to give an estimate of how much a student would spend for mandatory costs and other non-mandatory costs. |
Estimated Family Contribution (EFC)- This is a number generated after you submit your FAFSA or CADAA based on the financial information you provided. It is an estimate as to how much the government believes your family is able to contribute to your educational expenses. |
Tuition and fees- These costs are mandatory costs. This means that the student is obligated to pay these fees every semester. These are the costs associated with school related fees |
Pell Grant- This is free money the federal government provides to you for school. This number varies and you will only receive this if you qualify based on EFC. |
Housing and meals- These costs are approximations for how much a student usually spends on housing and meals per year. This cost in reality can be slightly higher or lower than the number provided depending on a number of things including: on-campus vs off-campus living, type of dorm/apartment a student has, number of meals if a student has on-campus dining, etc. |
Work Study- This is a type of financial aid that, if you qualify, can help you obtain a part-time job while studying. This number is not automatically given to you, you must first obtain a job, that is partnered with the school, and work in order to receive this money. If you qualify it increases your chances of getting hired to jobs that accept work study. |
Other expenses- These costs are non-mandatory costs. Often times the school will estimate other expenses associated with living in the area or with studying at the university including but not limited to: books & supplies, health care, transportation, personal expenses, etc. These costs can fluctuate based on whether a student lives on or off campus or with a parent. |
Student Aid Report (SAR)- This is an auto-generated document following the submission of your FAFSA or CADAA. This document will have your EFC and any pell grant or federal loans you are eligible for. It will also have a summary of your answers for the financial aid application you submitted |
Federal loans- This is money you have to pay back that is offered by the federal government. There are 3 types:
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Scholarships- This is essentially free money you can use for school or school expenses that you do NOT need to pay back. There are two types:
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Reading an Award Letter |
Cost of Attendance |
In-State Award Package |
Out-of-state Award Package |