How Your Financial Need Is Determined/Cost of Attendance

Determining Need Based Financial Aid
and Cost of Attendance

Financial aid programs were created by the federal government and based on the premise that the primary responsibility for paying for college rests with the student and his or her family. Need-based financial aid is available to families who demonstrate a need for additional resources to help pay college costs.

The formula used to determine need is: Cost of Attendance (COA) minus Expected Family Contribution (EFC) = Need.

Cost of Attendance (COA or budget) represents a reasonable estimate of the cost of attending school for a 9 month academic year (fall and spring semesters). The Financial Aid Office determines student budgets every year as a basis for awarding financial aid funds. It includes direct costs, tuition and fees, room and board; and indirect costs, allowances for books, supplies, transportation and personal/miscellaneous expenses.

Direct costs are charges for which you will be billed directly by Stevenson. Indirect charges are costs you may incur as a result of going to school, but not necessarily billed for by SU. Actual charges vary depending on your choice of program, enrollment, and living arrangements. A breakdown of direct charges for Stevenson University is available on the Cost page.

The Expected Family Contribution (EFC) is an amount that your family is expected to pay towards your cost of attendance; it is not your bill. It is derived from a formula created by the federal government and is calculated based on the information provided on your FAFSA.

Need for financial aid is the difference between the cost of attendance and your EFC.
To assist you in planning your costs for the upcoming school year, the Financial Aid Office has established the following estimated budgets:

Estimated Cost of Attendance Chart
2012-2013 Academic Year
(Costs are subject to change pending SU Board of Trustees approval. Actual figures will be posted on the Stevenson University website when available)

      Tuition and Fees Living Expenses Books Transportation Personal
Expenses		 Total Cost
of
Attendance
Traditional
Full-time
Living in SU
Housing

$25,291

$11,879*

$1,250

$960

$,1,200

$40,580

Traditional
Full-time
Living with
Parent

$25,291

 

$1,250

$2,200

$1,200

$29,941

Accelerated
Full-time
(12 credits)

$12,313

$8,240

$1,250

$2,200

$2,500

$26,503

Graduate
Full-time
(6 credits)

$6,885

$8,240

$1,000

$2,200

$2,500

$20,285

*Based on standard double occupancy SU Suite rate and 225 meals (Meal Plan A)