Focus On Difference – Billable Cost Minus Awarded Aid

Focus On Difference – Billable Cost Minus Awarded Aid

As you read through the financial aid package, remember your focus is not on the total cost of education because it is a combination of billable and non-billable costs. Your billable costs are tuition, fees and if living in the residence hall, room and board.  Other costs that we list are items that you have control over how much you spend. These are items that include books, transportation and miscellaneous expenses (laundry and personal care items, etc.).

 

Note: All of the numbers below are for demonstration purposes only. Your Student Aid Summary will indicate actual estimated budget numbers.

 

Example………  (not actual numbers)

            PA freshman living in a residence hall - billable charges

                        Tuition –                     6,393

                        Fees -                            441 

                        Room & Board –      5,058

                        Total -                         11,892

 

For this student we would list a total costs per semester of $18,494, but their billable charges for the semester are $11,892 (see above). If this student is awarded $10,000 in student aid, they will need to add $1,892/semester to their awarded aid to pay the billable charges, NOT $ 8,892 if you use the total cost of education number.

 

Example………  (not actual numbers)

            PA freshman commuting from home - billable charges

                        Tuition –                     6,393

                        Fees -                            441 

                        Total -                         6,834

 

In this example the billable charges are only tuition and fees. If we keep the financial aid award the same, the university would generate a refund of $3,166.

 Example………  (not actual numbers)

Out of state freshman living in a residence hall - billable charges

                        Tuition –                     9,753

                        Fees -                            441 

                        Room & Board –      5,058

                        Total -                         15,252