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Federal regulations require that we develop a standard student
budget to use when we award financial aid. The budget is composed of
components to
help cover a student's basic costs. These components address two
categories of costs:
- Institutional/ Direct - Tuition and
fees (Room and
board are considered institutional costs if a student lives on campus)
- Non-institutional - books,
supplies, transportation, and personal allowances (Room and board are
considered non- institutional if a student lives off campus)
Institutional costs are classified as "expenses" because they are billed directly to the
student's account.
Non-institutional costs are
classified as "allowances"" because they are
the maximum
amounts allowed for these components in the awarding of financial
assistance.
Individual circumstances dictate how much a student actually spends.
In awarding financial aid we must consider a student's living
plans because they affect the student's costs and therefore their
financial aid eligibility. Students must indicate on the Financial Aid
Data Sheet (FADS) what their living arrangements will be so that we can
accurately determine their eligibility for financial aid. A student
must notify our office if plans
for housing change so that adjustments can be made to the financial aid
package
if necessary.
FOR THE 2007-08 ACADEMIC YEAR, the
following costs are in effect for on-campus students:
| Tuition |
$20,544 |
| Fees |
270 |
Standard Room (double occupancy in Hill, Greensboro or West Hall
|
4,098
|
Board
Standard 19 Meal Plan |
3,564
|
| Total direct cost |
$28,476
|
| (THIS IS THE AMOUNT THAT WILL ACTUALLY BE
BILLED TO THE STUDENT ACCOUNT) |
| Other projected expenses not billed to student account: |
|
| Books and Supplies |
$ 900 |
| Personal Expenses |
900 |
| Transportation |
300 |
| Total student budget |
$30,576 |
PLEASE NOTE: The tuition, fees, room and board are for the 2007-08 academic year and are subject to change if the Board of Trustees approves different amounts. Historically costs increase 5 - 8% from one year to the next.
These figures assume full-time enrollment. Any deviation from this status will require an adjustment in the student's financial aid package to reflect current enrollment status.
The allowances for students living with their parents are
considerably less than the figures provided above.
Costs are based on a 9-month academic year. Summer term is not
included.
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