Common Financial Aid Terms & Definitions

Cost of Attendance - The total amount (not including scholarships and grants) that it will cost a student to attend college. COA includes:

Direct Costs: Tuition, fees, housing & meals.

Indirect Costs: Books, supplies, transportation, loan fees and personal expenses, such as personal computers and study abroad programs.

Net Costs - An estimate of the actual costs or balance that a family will pay. This is determined by taking the university’s cost of attendance and subtracting scholarships and grants awarded.

Student Aid Index - The number used by a college or university to calculate the amount of financial aid you are eligible to receive. It is determined by the information you provide on your FAFSA financial aid form. It is NOT the amount a family will have to pay for a college. It is also NOT the amount of Federal financial aid a family will receive.

Work-Study - A Federal aid program that provides part-time, on-campus employment while a student is enrolled in school to help pay for college.