There are two different calculations of the Cost of Education that you as parents should become familiar with when comparing universities.
DIRECT COSTS
The first and possibly the most important to you are the Direct Costs of attending a college. These are the actual costs that you and your son or daughter will need to pay at the beginning of every semester. 1. Room, 2. Board (food), 3. Books and 4.Tuition are the big four expenses you will need to pay for with either financial aid or out of your own pocket. Use these expenses (or estimates of them) in order to compare schools’ financial aid packages and your financial obligation.
BUDGETED COST OF ATTENDANCE
The Cost of Education amounts the Financial Aid Office calculates includes several other components and are considered 'budgeted' amounts rather than actual. The cost calculated by the Financial Aid Office is based on averaged and actual costs from reported data, survey data and Bureau of Labor Statistics (BLS) data.
- Tuition - Tuition is based on the number of credits you enroll in. The full tuition cost includes segregated fees and is billed on a
semester basis.
- Books and Supplies - The estimate of books and supplies is based on average cost for Undergraduate and
Graduate students. Your actual costs may be more or less than the average costs because of your course
requirements.
- Housing - There are three housing costs factored into the cost of education. Students living with parents
or relatives are considered commuter students. Students living on and off campus will have housing costs
calculated that equal the average of the on campus housing for the year.
- Board - Food and toiletries are also calculated differently for commuter and on and off campus students.
The cost is updated each year based on the projected increase in the university food services costs.
- Personal/Miscellaneous - This area is a catch all for those day to day living expenses that don't fall
into any other category. Included are items such as clothing, medical, recreational expenses and insurance.
- Transportation - The transportation allowance is roughly based on trips to school with normal school
courses. There is an additional allowance available for students living more than 20 miles from campus.
In determining financial aid awards, the Financial Aid Office cannot grant a student any aid above
and beyond what the budgeted Cost of Attendance figures allow.
Estimated Costs for 2011-2012
On/Off-Campus Students |
Commuter Students (Living with parents) |
| Full-time tuition** |
$7,286.00 |
Full-time tuition** |
$7,286.00 |
| Books and supplies |
$800.00 |
Books and supplies |
$ 800.00 |
| Rent and utility |
$3,932.00 |
Rent and utility |
$1,028.00 |
| Food |
$3,27800 |
Food |
$1,418.00 |
| Misc |
$2,000.00 |
Misc |
$ 836.00 |
| Transportation |
$ 704.00 |
Transportation |
$ 704.00 |
| Total |
$18,000.00 |
Total |
$12,072.00 |
**Assumes student is WI resident. Non-resident and Minnesota reciprocity students will pay approximately $14,858 and $7,668 respectively.
Travel Abroad Policy
Travel to other countries to study, whether it is through semester abroad programs or January and summer travel courses, is encouraged. The Financial Aid Office and the International Studies Program will work with students and parents in an attempt to find adequate funding for these opportunities.
|
