How does the tuiton and fees work?

Question

I have looked on the school web page and used the calculator for estimated cost and I am only taking 14 hours of school. The cost came out to be 3026. Is this how much I will have to pay for the whole semester because I recieved 16,511 for financial aid and I don't know if that is enough money. My friend told me that isn't enought money but I don't think she knows what she talking about because she's not even going to college. Can some one please help me? Do I need to keep filling out scholarships or is this money enought for my school expenses?

Answer 1

It sounds like you have more than enough (depending on how much they issue you out). Like the first check might be $5000, then a month later another $5000 or whatever. Now like the other guy said- don't go banana's with all that money or you'll be so sorry later. That 3026 amount sounds like your entire bill minus your books and supplies (that's what the access money will be for.)

Answer 2

You should speak to someone at the school to find out what your exact charges are going to be.  You may or may not be calculating the tuition right, but are you accounting for all the other fees that will be billed?  Are you living on campus and paying that charge as well?  It is better to get an exact quote from either the Bursar's office or perhaps even the Financial Aid office can provide you some help here.  

Your cost of attendance budget through the financial aid office will allow you to receive financial aid for both direct and indirect charges from the school.  For instance, it will include tuition and fees billed by the school as well as a living expense budget for room and board, even if you are living off campus.  For this reason you will be able to receive grants and loans in excess of what the school is going to bill you for.   The excess aid is refunded to you near the beginning of each semester so you can use it to pay for educational and living expenses.

Word of caution - never borrow more than you absolutely need to.