graduate cost of attendance karen sokol, seton hall law g. dino koff, geisel school of medicine at...
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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
G. Dino Koff, Assistant Dean of Student Affairs and Director of Financial Aid
Jill Bertrand, Financial Aid Compliance and Training Officer