Financial Aid and Scholarships

Estimated Cost of Attendance for Financial Aid Budget

Your total budget, called the "estimated cost of attendance," is the sum of average tuition and fees, books and supplies, and standardized living expenses for the student only. Expenses of your family members cannot be included in your budget, except for dependent care expenses.

Estimated Cost of Attendance
2011-2012
Academic Year
(Undergrad taking
12-18 credits)
  On/Off Campus
Tuition/fees* $5,390
Books and supplies $1,260
Room & board $6,960
Loan fees $70
Transportation $1,750
Misc./personal** $2,120
Estimated Totals $17,550
 

Financial aid eligibility is determined by subtracting the expected family contribution and other educational resources and scholarships from the cost of attendance.

Cost of Attendance
""""- Minus Expected Family Contribution
""""- Minus Expected Scholarships/Resources
""""= Financial Need

IMPORTANT: The Estimated Cost of Attendance is only a financial aid tool to determine a student’s eligibility for financial aid and is not your school bill.  Your actual costs will be determined by  MSUB Student Accounts.

Expected Family contribution

Financial aid exists to supplement what you and your parents (if applicable) are expected to contribute toward your education costs. The expected family contribution is determined by a formula established by Congress known as Federal Methodology. This formula considers income, assets, family size, the number of family members attending college, and other information.

Other Estimated Resources

Other estimated resources might be listed on your award letter, such as National Guard benefits, Scholarships, Vocational Rehabilitation, or other outside educational funding. Federal regulations require that colleges include all educational funding sources toward your cost of attendance. When the Financial Aid Office learns about a source of funding after your award letter has been completed, it may be necessary to reduce federal or state financial aid to prevent an over-award. In some cases, students must be billed for over-awards. When reductions or cancellations are necessary, they are generally done in the following order: loans, work study, then grants.


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