Graduate Cost of Attendance

Karen Sokol, Seton Hall LawG. Dino Koff, Geisel School of Medicine at Dartmouth

Jill Bertrand, Harvard University

Overview

• Quick review of the construction of our costs of attendance

• Tools we use to validate the expenses we use

• Sharing the data with students or other departments

• Variables we all deal with

Bedtime Reading

Higher Education Act of 1965, as amendedSECTION 472. COST OF ATTENDANCE

Standard Components

• Tuition & Fees• Room/Board (Rent/Food)• Books & Supplies (Computer)• Miscellaneous/personal• Transportation• Loan Fees• Credit Card Debt

Variable and Allowable

• Dependent Care• Disability Expenses• Study Abroad• Less than half-time • Cost of First

License/Certification

Special Programs

• Internships• Study Abroad• Short Programs• Conferences • Law School Bar Exam Expenses

Families• Spouse or Family Insurance• Specialty Schools for

Dependents• Dependent Care Allowance• Moving

Budget Year 1(10 mo

s.)

Year 2(10 mos.)

Year 3(12 mos.)

Year 4(12 mos.)

Tuition $53,436

$53,436 $53,436 $53,436

Rent (inc. utilities) 8,000 8,000 9,400 9,700Food 2,750 2,750 3,600 3,900Books and Equipment 1,500 800 800 700

Microscope 230 60 0 0National Board/USMLE Exam

0 535 2,410 0

Local/Elective/USMLE/On Doc. Travel

250 250 1,100 1,500

Student Activity Fee 120 120 120 120

Health Insurance 2,100 2,100 2,100 2,100Disability Insurance 60 60 60 60Student Services Fee 1,250 1,250 1,250 1,250

Miscellaneous 3,405 3,030 4,280 4,680

TOTAL $73,101 $72,391 $78,556 77,446

Geisel COA

Budget Construction at GeiselYearly Surveys

• Rent• Food• Travel• Credit Card Debt• Interview Costs (4th year only)• Entertainment• Dining Out• Medical Costs (co-pay and

deductible)• Dental Expenses• Car Payment

Survey Monkey

Did You Know?

Geisel Average:

Rent: $684Food: $225CC Debt: $638

Did You Know? (Filtered)

Geisel Average:

• Rent: $620• Food: $201• CC Debt: $605

Dental Expenses

$111

Harvard Graduate School of Arts & Sciences COA

Tuition $37,576

Facilities Fee $2,486

Active File Fee $300

Student Health Fee $930

Health Insurance $2,168

Graduate Student Council Fee $25

Total $43,485

SingleStudent

MarriedStudent

Food $5,170 $8,240

Housing $13,550 $19,660

Books $900 $900

Miscellaneous $5,570 $5,925

Total $25,190 $34,725

Budget Construction at Harvard Graduate School of Arts & Sciences

• Survey students in a base year• Annually adjust for cost of living

increase until next survey year• http://www.census.gov/compendia/st

atab/cats/prices/consumer_price_indexes_cost_of_living_index.html

• http://www.bls.gov/cpi/tables.htm

Harvard Business School MBA COA

  Single Married/DPMarried/DP

with One ChildMarried/DP

with Two Children

Tuition $53,500 $53,500 $53,500 $53,500

HUHS Student Health Fee

$930 $930 $930 $930

Student Health Insurance Plan

$2,168 $2,168 $2,168 $2,168

Insurance Spouses/Dependents

$0 $4,922 $7,506 $8,804

Program Support Fee

$6,690 $6,690 $6,690 $6,690

Room & Utilities $10,800 ($1,200/mo)

$16,641 ($1,849/mo)

$21,123 ($2,347/mo)

$21,123 ($2,347/mo)

Board, Personal, Other

$13,112 ($1,457/mo)

$16,949 ($1,883/mo)

$21,583 ($2,398/mo)

$27,985 ($3,109/mo)

Total $87,200 $101,800 $113,500 $121,200

Budget Construction at Harvard Business School• Conduct survey every other year• Short survey with some open ended

questions• Continually find students spending

too much on entertainment and recreational travel

• In general, find living expense budgets to be accurate

Seton Hall Law COADIRECT COSTS FULL-TIME

LAW Tuition $48,230Fees $ 840Total Tuition and Fees $49,070

INDIRECT COSTS

Books/Supplies $ 1,400Loan Fees* $ 204

LIVING EXPENSES

Rent/Food $13,950Transportation $ 1,800Miscellaneous Expenses

$ 4,572

TOTAL LIVING EXPENSES

$20,322

TOTAL BUDGET $70,996

Budget Construction at Seton Hall

• Student Surveys –every other year

• College Board • http://

professionals.collegeboard.com/higher-ed/financial-aid/living-expense

• Health Insurance $3,770 annual

Licensing Expenses• Step 1• Step 2• Residency Interviews• Bar Exam

Thorny Issues• Consortium Agreements•Short Programs•Family Issues- Health Insurance•Legal Fees•Credit Card Debt•What Else•Home Repair•Undergrad/Graduate Previous Debt (non deferrable)

1. Au pair2. In vitro3. Slate Roof4. New furnace 5. Bed Bugs6. Kitchen Fires7. Natural Disasters8. Pet Surgeries9. Recreational Travel10.Supporting Extended Family Members11.Private Schools for Kids while participating in Study

Abroad

Eleven Unique COA Increase Requests

What Requests are in your Top 11?

NASFAA Monographs• Monograph 20: Developing the

Cost Attendance: Defines acceptable expenses and outlines consistent approaches for establishing reasonable levels for those expenses, while avoiding specific citation of figures, averages, or ranges

FSA Resources• FSA Coach:

http://www2.ed.gov/offices/OSFAP/fsacoach/module.htm#m-1006-0-0

• 2012-2013 FSA Handbook Vol. 3 http://ifap.ed.gov/fsahandbook/attachments/Vol3Master1213Jun14.pdf

Thank You

Karen Sokol, Assistant Dean for Enrollment Services

Karen.Sokol@shu.edu

G. Dino Koff, Assistant Dean of Student Affairs and Director of Financial Aid

Gordon.d.koff@dartmouth.edu

Jill Bertrand, Financial Aid Compliance and Training Officer

jill_bertrand@harvard.edu