What is the Cost of Attendance (Student Financial Aid Budget)?
Federal regulations allow the Financial Aid Office to consider specific expenses in
estimating each student’s Cost of Attendance or student budget. The student’s budget,
as determined by the Financial Aid Office, is the maximum amount of financial aid
a student may receive from any source. Student budgets are comprised of the average
costs of the following expenses: tuition and fees, room and board, books and supplies,
transportation expenses, personal expenses, loan fees, and the estimated cost of the
MacBook Pro and software. Because different categories of students have different
expenses, each student is assigned a budget reflecting his or her particular costs.
For instance, graduate students pay higher tuition rates than undergraduate students.
Please note that FSU will not bill KCAD students for room and board unless you are
living in the dorms on the Big Rapids campus, transportation, personal, nor laptop
expenses. These estimates are included in the Cost of Attendance for planning purposes
and to allow students the opportunity to obtain enough financial aid to cover these
Tuition costs are typically not finalized until July of each year. The Financial Aid
Office uses historical data to estimate changes to tuition and fees and will estimate
the student’s budget accordingly.
The Financial Aid Office initially awards each student as if he or she will be attending
full-time (12 credit hours for undergraduate students and 9 credit hours for graduate
students). In the interest of reducing student loan debt, after the fourth class day
each semester, the Financial Aid Office will re-evaluate each student’s enrollment
status and will reduce the Tuition/Fees and Books/Supplies elements of the Cost of
Attendance for students who are enrolled less than full-time.
Federal regulations state that you may not receive more financial aid than your Cost
of Attendance. If you are less than full-time when the drop and add period is complete,
your financial aid, including private alternative loans and Parent or Graduate PLUS
loans, is subject to reduction to ensure that your aid does not exceed your Cost of
Attendance. This adjustment may result in a change to either your tuition account
balance due or your financial aid refund.