How is student work figured into the cost of attendance?

Paying for College
1

<p>I have a question about how student work is built into financial aid packages. A lot of schools will list amounts for Books and Personal Expenses as part of their Cost of Attendance.</p>

<p>And then part of the financial aid award will include something like “Student work study = $2000.”</p>

<p>I am assuming that the $2000 from the student’s work is expected to apply to the Books and Personal Expenses, right? And that financial grants/loans go toward the actual sticker price of tuition, room and board?</p>

<p>Here’s one example:</p>

<p>$50,000 Tuition, Room and Board
+ 3,000 Books, Expenses, Travel
$53,000 Cost of Attendance
-25,000 Financial Grant
- 6,000 Student Loans
- 2,000 Student Work
= $20,000 Expected Family Contribution</p>

<p>In this scenario, the real amount due to the College itself is the $50,000, right? And that’s paid by the 25K grant, the 6K loans, and a 19K check from the parents?</p>

<p>And then during the year, the additional $3K is paid by the parents as travel bills come in, and the student picks up his own $2K living expenses by working during the year. Is this right?</p>

<p>Thanks for any insight.</p>

2

<p>Yes, you are correct. $50,000 is the only amount you would be billed for. The $3,000 is an estimate of what you might need for books, expenses, and travel for the year.</p>

<p>You have the choice to have your work study funds (providing you find an on-campus job) to go towards your balance, or you can use it for books, expenses, etc, providing that your parents do pay off the $19,000. Work study funds are paid to you just like a regular paycheck would. </p>