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If at the scheduled 300, 600, 900,1200 hour mark the student is not meeting these rates he or she will lose the
remaining balance of the scholarship. Any monies that are lost become payable by the student.

Student Loans
Federal student loans are often a part of the student’s financial aid package. They allow students to defer the cost of
their education by “borrowing now and paying later.” Student loans are processed through the Federal government.

Federal Student Loan Programs
Federal Stafford Loan – Subsidized and/or Unsubsidized Loans
Federal PLUS Loan – Parent Loan for Undergraduate Students

The William D. Ford Direct Loan Program is the collective name for both Stafford and Plus loans.

Grants
Grants are awarded on the basis of financial need. You are not required to repay a grant.

Federal Grant Programs:
Federal Pell Grant (FPELL)
Federal Supplemental Educational Opportunity Grant (FSEOG)

Determining Financial Need
The following steps are followed for determining a student’s financial need:

Expenses for a student’s academic year (living and educational costs) are identified; (living accommodations and
marital status are considered when establishing a student’s expenses).

The student’s ability to pay for a portion of these expenses, referred to as the “expected family contribution,” is then
determined.

The difference between the above two figures is calculated as the student’s financial need.

Typical Student Expenses

While your tuition and fee costs are fixed, the amount you spend on living costs will depend largely on your own
actions as well as your individual circumstances, such as whether or not you have other dependents. In order to
estimate what these expenses might be, we have prepared the following chart based upon a survey of current
students to determine a modest, but adequate standard of living under various conditions. Added to these figures are
the cost of tuition, fees, books, and supplies for the program in which you intend to enroll. Budgets may be adjusted
for any unusual costs, such as expenses for childcare or for a handicap.

ESTIMATE OF MONTHLY LIVING EXPENSES 2023-2024

Student Living With
Parents/No Dependents All Others
Room & Board (monthly) $ 212.00 $ 1,308.00
Transportation (monthly) $ 202.00 $ 394.00
Personal Expenses (monthly) $ 168.00 $ 379.00

ESTIMATE OF MONTHLY LIVING EXPENSES 2025-2026

Student Living With
Parents/No Dependents All Others
Room & Board (monthly) $ 629.00 $ 985.00
Transportation (monthly) $ 426.00 $ 534.00
Personal Expenses (monthly) $ 331.00 $ 487.0

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