COST OF ATTENDANCE
2026-2027
Cost of attendance includes tuition, housing, and food (housing and food allowance for off-campus students), and allowances for books, supplies, transportation, and personal expenses. Direct charges include tuition, housing, and food and are paid directly to the Student Accounts Office, where indirect charges are estimates of other out-of-pocket expenses that a student might incur to attend college.
Financial Aid Terms
COST OF ATTENDANCE
Cost of attendance is the total cost to attend a college or university for an academic year. This amount is a combination of direct costs (tuition and fees, housing and food) and indirect costs (books, transportation, and personal expenses).
GIFT AID
Gift aid is a type of financial aid that does not require repayment and is awarded in the form of a grant or scholarship.
DEMONSTRATED FINANCIAL NEED
Demonstrated need is the difference between a student’s Student Aid Index (SAI) and the total cost of attendance for a college.
DIRECT COSTS
Direct costs include tuition, fees, and on-campus housing and food (meal plan).
ENROLLMENT STATUS
Enrollment status is a classification based on the number of credit hours a student is taking. For example, a student’s enrollment status may be full time or part-time.
STUDENT AID INDEX (SAI)
The Student Aid Index (SAI) is a measure of your family’s financial strength and is calculated according to a formula established by law. It also is the number that is used to determine your eligibility for federal student financial aid. An SAI is calculated using the information on your FAFSA, including your parents’ income, investments and other assets, as well as the number of people in your family.
FINANCIAL AID
Financial Aid is money given or lent to you to help pay for college. Financial aid can come from federal and state governments, colleges, and private and social organizations.
GRANTS
A grant is a type of financial aid that doesn’t have to be repaid. Grants are usually awarded based on financial need.
INDIRECT COSTS
Indirect costs will not appear on a student’s bill but need to be budgeted. These costs include books and supplies, personal expenses, transportation, and loan fees.
LOAN
A loan is a sum of money you borrow from the federal government, a bank or another source. Keep in mind that a loan needs to be paid back, usually over an agreed period of time.
MASTER PROMISSORY NOTE (MPN)
The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).
MERIT AID
Merit aid is financial aid that is awarded to students based on their personal achievements. Most scholarships are considered merit aid because they are often awarded for academic and extracurricular success.
NEED-BASED FINANCIAL AID
Need-based financial aid is any aid given to students to help them pay the full cost of attending college. Examples include grants, scholarships, loans and work-study opportunities.
NET PRICE
Net price is the total cost of one year of a college education minus any grants and scholarships you might receive.
SCHOLARSHIP
A scholarship is a type of financial aid that doesn’t have to be paid back. Scholarships are awarded based on merit, meaning they’re given to students with certain qualities, such as proven academic or athletic ability.
STUDENT AID REPORT (SAR)
A student aid report is a document that gives you basic information about your eligibility for federal student aid. The report lists your responses to the questions on your Free Application for Federal Student Aid (FAFSA).
UNDERGRADUATE
An undergraduate college student working toward an associate degree or a bachelor’s degree.
WORK-STUDY
Work-study is a federal student aid program that provides part-time employment while you are enrolled in school to help pay your education expenses. If you are awarded work-study, make sure you check the work-study webpage to learn how the process works.