The full cost of a school year

What the cost of attendance includes

Schools that take part in federal aid publish a cost of attendance, an estimate of what one year costs a typical student. It covers tuition and fees, housing and food, books and course materials, supplies, transportation and personal expenses. For some students it can also include childcare, costs related to a disability, loan fees or a study-abroad program.

The figure matters because it caps your financial aid. Your total aid cannot go above it, and need-based aid is measured against it. Look for separate figures for students living on campus, off campus and with family, because the allowances for housing and food differ between them.

Billed costs on your school account

Billed costs are the charges that appear on your student account: tuition, required fees, and on-campus housing and a meal plan if you have them. Your aid is applied to these first. When grants, scholarships and loans add up to more than what is billed, the school pays the difference to you as a refund within a set time.

Read the bill itself as well as the estimate. Many schools add charges that the estimate rolls into one line, such as a technology fee, a lab fee, a student activity fee or course materials bundled into tuition. Some schools also bill a student health plan automatically and remove it only if you show proof of other coverage by a deadline.

Unbilled costs you pay directly

Unbilled costs stay off your student account, so they are easy to underestimate. Off-campus rent and utilities, groceries, books bought from another seller, bus fare or gas, phone bills and personal items all come out of your own pocket during the year. Your refund, a job, savings or family help usually covers them.

Spread these over the months you will actually be paying them. Rent arrives every month, including the weeks between terms, while book costs cluster at the start of each term. A month-by-month list shows when money runs short, which a yearly total hides.

Making the estimate fit your life

Replace the school's averages with your own numbers wherever you can. Check real rents near campus, your actual commute, and the book list for your courses, which the bookstore or your instructors usually post before the term starts. If your costs come in lower, borrow less, and if they come in higher, keep records of why.

A financial aid administrator can raise your cost of attendance for documented costs the standard figure leaves out, such as childcare, a required computer or disability-related expenses. This is a professional judgment decision, so the school decides and may ask for receipts or letters. A higher figure can open room for more aid, often in the form of loans rather than grants.

Gather these numbers

• Your school's cost of attendance
• Your first bill or account statement
• Your lease, rent and utility costs
• The book list for your courses
• Your monthly commute cost