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Suite 1000, Jursey City, New Jersey 07302,
United States.
If you are planning to attend college, you should do a little research first. Find out how much it will cost to go to college, what part of that cost you and your family will be expected to pay, and what types of financial aid are available. The following information is intended to get you started.
Educational costs can differ significantly from one school to another, depending on the type of school and your program of study. In general, costs are lowest at a public vocational-technical school, higher at a public community or technical college, still higher at a public four-year college, and highest at a private college.
The total cost of attending school today may range from $2000 per year to more than $30,000 per year. Financial Aid programs have been created to help you pay for these costs. Schools with higher costs often have more financial aid available than lower cost schools. Therefore, when comparing costs, it's very important to determine the financial aid available. This way you can determine what your out-of-pocket expenses will be.
But remember, cost is only one factor in selecting a school. Consider your goals, what programs and opportunities each school offers, and how well that school will help you meet your goals.
| 2007-2008 Estimated Tuition and Fees (2 semesters) | |||
|---|---|---|---|
| Harvey Mudd College * | University of Kansas** | Oregon State University** | |
| Undergraduate Tuition/Fees | $34,891 | $18,674 | $16,725 |
| Room and Meals | $11,415 | $4,370 | $7,300 |
| TOTAL | $46,306 | $23,044 | $24,025 |
| * Private Top Liberal Arts College | |||
| ** Public University | |||
The total educational costs are called the Cost of Attendance (COA) and include: (1) tuition and fees, (2) books and supplies, (3) room and board, (4) transportation, and (5) miscellaneous personal expenses, such as clothing, laundry, and recreation. Because the COA includes items which are living costs but are not paid directly to the school, the actual amount billed by the school will be less than the COA.
The primary responsibility for financing a college education rests with the student and his or her family. The family is expected to pay for the cost of college to the extent that they are able. Financial assistance is designed to help with the difference between what the family can afford and the cost of attendance. The student shares in the family's responsibility to pay for college, and is expected to contribute from his or her earnings and savings. The amount the family is expected to pay toward the cost of college is called the Expected Family Contribution (EFC).
Colleges, government agencies and organizations that award financial aid based on financial need, use a process called Needs Analysis to determine how much the family is expected to pay towards the cost of a college education. This process uses both the parent's and student's income and assets, and other information about the family such as the number in college, to calculate the Expected Family Contribution. During the needs analysis calculations, certain allowances are applied to protect the family's income and assets for the cost of living and future retirement needs.
The needs analysis is performed by the U.S. Department of Education based on the information provided by the family on the Free Application for Federal Student Aid (FAFSA). This is the basic form required for most financial aid programs based on financial need. Any student who wishes to apply for financial assistance should complete and submit this application. FAFSA's can be obtained from high school guidance counselors, college financial aid offices, libraries, and other sources.
Most financial aid is awarded based on financial need. The Cost of Attendance minus the Expected Family Contribution equals financial need. The school you attend uses the EFC calculated during needs analysis and the school's cost of attendance to determine your eligibility for need based financial aid. Some aid is merit based, meaning eligibility is based on performance or achievement, such as athletic scholarships, academic scholarships based on SAT scores or GPA.
The total financial aid a student receives can include funds from more than one source or financial aid program. Normally, though, the total financial aid received will not exceed the financial need, or in some cases, the cost of attendance. For the best chance of getting the aid you need, apply as early as possible for each financial aid program for which you might be eligible.
Colleges use the Foreign Student Financial Aid Application (FSFAA) and the CSS/Financial Aid PROFILE to collect information about a family's financial situation which determines their ability to contribute toward college costs. The reported income, family size, number in college, personal assets and unusual family expenses factor into the family's overall financial profile. The student's savings and base-year earnings also are included to determine the student's contribution.
Financial need is the difference between the cost of your education and what you might reasonably be expected to contribute to meet college costs. These contributions are determined using Federal Methodology, the federally approved system utilized by post-secondary institutions across the nation.
Cost of Attendance (Student Budget) - Expected Family Contribution (EFC) = Financial Need
Students who choose to live in off-campus housing (not including commuter students or non-traditional students) are awarded institutional aid using a differentiated policy.
Eligibility for all assistance is based on an off-campus cost of attendance rather than that of a residential (on-campus) student.
Therefore, eligibility for institutional grant aid will likely be reduced.
Need-based federal assistance may also be affected.
Because of these potential changes, careful analysis of on-campus versus off-campus costs should be done before your final decision is made. If more specific information is needed, we advise you to make an appointment with your financial aid advisor.
Federal College Work Study is awarded to students as part of the financial aid package solely on the basis of financial need with job interviews arranged by the Financial Aid Office. A student employed under this program may earn no more than the amount of the College Work Study award at the federal minimum wage.
Most of international students work in food services, and can earn an estimated average $3,000 to $3,500 per year. Immigration allows students to work on campus for up to 20 hours per week during the fall and spring semesters, and full-time during the summer and Christmas breaks. If you qualify for financial aid, University will provide a campus job for you. Most students limit employment to 20 hours a week. (Av. US$ 5.15/hour) On campus, students can work at the library, at the bookstore, in the dining halls, in the computer labs or tutoring centers, as research and teaching assistants, in the different administrative offices, etc. In order to work off campus, students need employment authorization from the U.S Immigration Services. Once this is obtained, you can work anywhere inside the U.S. over the summer or winter breaks, but not during the school year.
EMPLOYMENT: USCIS regulations severely restrict the employment of international students. Student should not, therefore, count on funds from any possible employment to defray the costs of tuition and living expenses.