Calculating the True Cost of Attendance
When we enter into a costly venture like purchasing a house, we weigh the pros and cons against the anticipated return on investment (ROI). Choosing a college should be no different. You must analyze how the net cost measures up against both potential debt and future earnings.
In order to come up with a realistic assessment of college costs, it is important to first calculate the true total cost of attendance. This goes far beyond the sticker price of tuition to include room, board, university fees, transportation, entertainment, and general living expenses such as cell phone bills and traveling home for the holidays.
Knowing how much financial aid you will receive is a critical piece of this calculation. Submit your FAFSA early, complete the CSS Profile if required, and carefully review your financial aid package to understand exactly what your out-of-pocket net cost will be.
