Learn personal and professional finance terms to keep you in the know
Cost of attendance (COA) is the total estimated amount it costs to attend a college or university for one academic year, and it's what financial aid offices use to determine how much aid you're eligible to receive. It includes direct costs billed by the school (tuition, fees, and on-campus housing or meal plans) as well as indirect costs like books, supplies, transportation, and personal expenses. COA sets the ceiling on your financial aid package: schools calculate your financial need by subtracting your Student Aid Index (SAI) and any other aid you're receiving from your COA. It's not the amount you'll actually pay out of pocket, since grants, scholarships, and loans get applied against it first. COA numbers are estimates and can vary based on whether you live on campus, off campus, or with family. Comparing COA across schools (not just the sticker price of tuition) gives you a much clearer picture of what a degree will really cost.
