Financial aid living expenses

Every college uses Federal guidelines to prepare annual budgets of college expenses. These annual budgets are mainly used to determine your cost of attendance and degree of financial need. Sumulteneously, student budget has two types of expenses. They are expenses directly related to attending college like tuition, fees, books and carfare and living expenses.


The budget also includes tuition, SBA dues, and the estimated cost of the University's Health Insurance Plan, books, and living expenses. The direct expenses will be applicable same for all the students. Living expenses will be differing, based on the dependent status of the student. A minimum amount of $2,916.00 will be added to the 9 month budget of any independent student to take care of dependents in order to attend college. Dependents may include children 12 years of age or younger, and elderly or disabled adult.


The Financial Aid Office will calculate the cost of attendance consists of tuition, fees, and living expenses. The financial aid will be in the form of scholarships, grants, and student loans towards the cost of attendance. The living expenses will be issued same to both of out-of-town students and in campus students. Local students are considered with expenses of living at home with parents. You have to contact Financial Aid Office for additional aid to reside on campus. The university office will cover only Stafford, plus loan funds. Off campus expenses also includes in the budget to cover the expenses. Parents loans and PLUS loans will credit budgeted amount, if the account shows credit balance then you can request for additional amount to cover off campus allowances.


Students can take the help of Financial Aid Office staff in calculating the "living expense allowances" of the estimated cost of attendance for an academic year. The living allowance for a local student will be provided up to $2,725 per academic year to cover the costs of home and one meal on campus per weekday. The living expenses will be determined by the factors of students dependency status, permanent address, and housing plans for the academic year.


The living allowances include:


* The average cost of double room in a dormitory and a meal plan for on campus residents


* The average cost of rent and food for someone living in an apartment


* A one meal per weekday allowance for local students who are living in their parent's home.


* Transportation and personal/ miscellaneous expenses are provided up to $1,000 for books and a $1,500 "miscellaneous expense" allowance.


For the year 2008-2009, undergraduate students tuition and living expenses includes $36,390. Based on the students housing and meals arrangements housing and meals allowances includes up to $10,860. Books and personal expenses cost $2,850. A graduate student deserves tuition and fees are $36,390 and summer term allocated amount was $12,045.


Below financial considerations affects the off campus living:


* Most of the rental agencies demands security deposits initially


* Be prepare for the Start-up costs like phone service, utilities, buying furniture, etc


* Be ensuring with the roommates about their share of the expenses.


* Financial id is designed for only 9 months, but leaseback you to commit for one year.So you need to pay extra from your own pocket.


* Contact your financial id office for a cash advance.


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