ÍÃ×ÓÏÈÉú

The Cost of Attendance (COA) consists of the sum of educational costs payable to the school (also referred to as direct or billable costs) and costs paid to others (or indirect, non-billable or discretionary) costs. The Cost of Attendance represents the highest dollar amount of financial aid a student can receive during an award year. Visit our Explanation of Fees page for more information.

• Direct Costs:  Costs Payable to the school (also referred to as direct or billable costs) or any other expenses paid to the school for enrollment. Charges included in the COA that are paid directly to ÍÃ×ÓÏÈÉú include:
  
  • Tuition: Charges assessed for classes and/or coursework
  • Fees: Charges assessed for other University services
    • E.g. Basic General Fees, Transit Fee, Student Technology Fee, Armstrong Student Center Fee, Mental Health Fee, Matriculation Fee
  • Non-Resident Surcharge: ÍÃ×ÓÏÈÉú receives subsidy from the State of Ohio for students who are Ohio residents, and Non-Ohio residents are required to pay the Non-Resident Surcharge
  • Career Development Fee: Career exploration and professional development services
  • Program and Course Fees: Additional administrative fees associated with specific courses or programs
  • Housing: Residence hall charges for on-campus students
  • Food: The cost of a university meal plan
  • Health Services Fees: Charges for student health insurance (if minimum insurance coverage is not documented) or other services related to the health center
• Indirect Costs: Costs paid to others (also referred to as indirect, non-billable, or additional costs), are other expenses not paid directly to the school, but associated with receiving an education. These expenses are estimated by the school and may differ from student to student based on their individual circumstances. The estimated expenses in the COA that are not paid directly to ÍÃ×ÓÏÈÉú include: 
  
  • Transportation: An allowance which may include transportation between campus, residence, and place of work
  • Books, Course Materials, Supplies, and Equipment: Estimated expenses related to books, course materials, and equipment required for a student’s program of study
  • Housing: Rent and utilities for off-campus living
  • Food: The cost of food prepared at home for off-campus students
  • Miscellaneous Personal Expenses: An allowance for a student attending ÍÃ×ÓÏÈÉú on at least a half-time basis for items such as laundry, clothing, reasonable recreation, personal hygiene, etc.
  • Other costs specific to certain student circumstances related to attendance, such as: dependent care, disability-related expenses, study-abroad expenses, federal student loan fees, etc.

The aid payment process, which typically happens around the time classes start in the form of a credit to your account. Visit our Disbursements page for ÍÃ×ÓÏÈÉú’s disbursement dates.

A deferment is a temporary postponement of payment on a loan that is allowed under certain conditions and during which interest generally doesn’t accrue on certain types of subsidized loans.

Money borrowed from the federal government, a college or university, or a private source like a bank or financial institution to pay for educational expenses and must be paid back with interest. Educational loans have varying fees, interest rates, repayment terms, and/or borrower protections.

• Federal Loan: Also known as the Direct Loan Program, which allows eligible students and parents to borrow directly from the U.S. Department of Education at participating colleges or universities. Federal student loans include Direct Subsidized, Direct Unsubsidized and the Direct PLUS programs for parents of dependent students and graduate or professional students. There are four types of Federal Loans:
  • Federal Direct Subsidized Student Loan: A Direct Subsidized Loan is an undergraduate federal student loan based on financial need and offers students a reduced, fixed interest rate and flexible repayment terms. Interest is subsidized, meaning it does not accrue to the borrower, while in an in-school, grace, or deferment period. Annual and aggregate limits apply.
  • Federal Direct Unsubsidized Student Loan: An unsubsidized loan offers students a fixed interest rate and flexible repayment terms. It is not based on financial need. Interest begins to accrue when the loan is disbursed and can be paid while the student is enrolled or when loan repayment begins. Annual and aggregate limits apply.
  • Federal Direct Graduate PLUS Loan: Direct Graduate PLUS Loans are federal loans that graduate or professional students use to help pay for education expenses. A credit check for adverse credit history is required for eligibility. Interest begins to accrue when the loan is disbursed and can be paid while the student is enrolled or when loan repayment begins.
  • Federal Direct Parent PLUS Loan (PLUS): Direct Parent PLUS Loans are federal loans that parents of dependent undergraduate students can use to help pay for education expenses. Parents must pass a credit check for adverse credit history to qualify for PLUS loans. Parents of dependent students may apply for this loan at .
• Private Loan: A student or parent loan from a bank, credit union, private company, a nonprofit or state-affiliated lender, or from the college or university directly to pay for educational costs. Interest begins to accrue when the loan is disbursed, and repayment begins while the student is still enrolled in school.

The number of credits, clock hours, or classes the student is enrolled in, or whether they have withdrawn, graduated, etc. Enrollment status affects eligibility for and the amount of financial aid a student may receive. It also affects when student loans enter repayment status. ÍÃ×ÓÏÈÉú’s enrollment status criteria is as follows:

 explains the obligations a student agrees to meet as a condition of borrowing a Direct Loan. Topics include: Understand Your Loans, Manage Your Spending, Plan to Repay, Avoid Default, and Make Finances a Priority.

An eligibility index that college financial aid staff use to determine how much financial aid you would receive if you were to attend college. The EFC is calculated according to a formula specified in law and is based upon the information provided by the student and their family on the Free Application for Federal Student Aid (FAFSA). Your EFC is the same no matter which school you attend.

The Family Educational Rights and Privacy Act (FERPA) is a federal law that protects the privacy of student education records, both financial and academic. It limits release of your record information without your written consent. However, it also gives your parent(s)/guardian(s) the right to review those records, without your consent, if the parent(s)/ guardian(s) claim you as a dependent on their Federal Income Tax Return.

The Pell Grant is a federal grant program designed to assist undergraduate students in low- and moderate-income households to pay for college. The award amount is based on the cost of the institution, SAI, and enrollment status, and is subject to an aggregate limit.

FSEOG is a federal grant provided by the institution to qualified undergraduate students who demonstrate exceptional financial need and does not need to be repaid. The amount of funding from this program varies by institution. Students must complete a FAFSA each year for consideration.

Federal Work-Study provides funding for part-time jobs for undergraduate and graduate students with financial need. Unlike grants and loans, FWS is paid to students as they earn the funds by working. Students are responsible for finding qualified employment. For consideration, students must complete a FAFSA each year.

To be considered for all available need-based financial aid and scholarships, the  (FAFSA) must be submitted each year. The FAFSA becomes available on October 1 each year. If you are a returning student, you have the option to renew your FAFSA. For more information about how to file the FAFSA, visit our FAFSA Tips and Tutorial page.

Any money provided to students that does not have to be repaid. They can be called grants, scholarships, tuition remissions, gift aid, or tuition waivers. Grants and scholarships are provided based on many different factors.

A loan expense charged for the use of borrowed money. Interest is paid by a borrower to a lender. The expense is calculated as a percentage of the unpaid principal amount of the loan.

The IASG is a federal grant to qualifying students with a parent or guardian who died as a result of U.S. military service in Iraq or Afghanistan after September 11, 2001. If you are eligible for a Federal Pell Grant, you cannot receive an IASG.

The  (MPN) is a legal document in which the student/parent or guardian promises to repay their loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of their loan(s).

The student’s Cost of Attendance minus their Student Aid Index (SAI).

The difference between the cost of attendance and all grants and scholarships. Net price reflects what the student is expected to pay for their education on their own and can be covered through a variety of sources, including savings, student employment, institutional payment plans, or education loans.

The authority of a school’s financial aid administrator to make adjustments to the data elements on the FAFSA and to override a student’s dependency status or EFC.

Level of the degree-granting program in which you are enrolled. Program levels may include:

• Undergraduate: Students seeking an associate degree, an undergraduate certificate, or a baccalaureate degree
• Post-Baccalaureate: Such as teacher certification
• Graduate: Students working on a master’s degree, graduate certificate, doctorate, or professional degree.

The amounts and types of financial aid for which you are eligible is determined, in part, by your program level.

Schools use Satisfactory Academic Progress (SAP) Standards to determine if you are meeting all of your educational requirements and if you are on target to graduate on time with a degree or certificate. This process may vary across schools. 

Refers to special or extenuating situations (such as the loss of a job) that impact a student’s financial condition and support a financial aid administrator adjusting data elements in the COA or in the EFC/SAI calculation on a case-by-case basis.

TEACH Grants are federal grants for undergraduate and graduate students, awarded in exchange for specific future teaching service in designated high-need fields and low-income elementary and secondary schools. If you do not complete the required teaching service, the grant becomes a Federal Direct Unsubsidized Student Loan that must be repaid.

Your Cost of Attendance, minus your Expected Family Contribution, less any need-based aid received, such as Gift Aid, Federal Work-Study or Federal Direct Subsidized Loans.

Refers to conditions that justify a financial aid administrator making an adjustment to a student’s dependency status, commonly referred to as a dependency override, based on an unusual situation (e.g., human trafficking or parental abandonment).

A federally mandated process to confirm the accuracy of data provided by selected FAFSA applicants. To complete the federal verification process, the student, their parent(s), or spouse, if applicable, are required to provide certain documents to the school for review. If the documentation provided to ÍÃ×ÓÏÈÉú doesn’t match what was reported on the FAFSA, verification can result in changes to the student’s financial aid eligibility, and/or financial aid offers.