The cost of attendance (COA) is the cornerstone of establishing a student’s financial need, as it sets a limit on the total aid that a student may receive for purposes of the Direct Loan programs, and is one of the basic components of the Pell Grant calculation. The COA for a student is an estimate of a student’s educational expenses for the student’s period of enrollment. Standard College uses average expenses (for students with the same enrollment status) at the school, rather than actual expenses. The college arrives at the average cost of attendance for various categories of students by conducting periodic surveys of the student population every two years.
The cost of attendance includes both direct educational costs (such as tuition, fees, and supplies) as well as indirect educational costs (such as transportation, miscellaneous personal expenses, living expenses (food and housing), fees for federal student loans, and dependent care costs.) Financial aid can be applied toward direct educational costs as well as indirect educational costs.
The tuition and fees and supplies are the only costs paid directly to Standard College. The indirect educational costs, listed above, depend on the student’s personal expenses, and will vary from student to student.
There are limits to the amount of financial aid students can receive, as determined by the school’s cost of attendance and the student’s financial need. The student’s total financial aid awards cannot exceed his or her cost of attendance.
DIRECT COSTS
Tuition and Fees
This allowance is for the tuition and fees normally assessed for a student carrying the same academic workload. It includes the graduation fee, the technology and resource fees, and the Professional Liability Insurance fee, incurred while the student is still enrolled, as required by the program and paid by all students.
Supplies
In the Practical Nursing Program the supplies include the Uniform, incurred while the student is still enrolled, as required by the program and paid by all students in the Practical Nursing Program.
In the LPN to RN Transition Program the supplies include the Uniform and the Skills Lab Bag, incurred while the student is still enrolled, as required by the program and paid by all students in the LPN to RN Transition Program.
INDIRECT COSTS
Transportation
The transportation allowance include costs incurred by a student for transportation between school, residence, and place of work (including costs associated with operating and maintaining a vehicle used for such transportation), and other costs for transportation that are required as part of a student’s program of study (for example, transportation to conferences or medical residency interviews). However, the transportation allowance does not include costs for the purchase of a vehicle.
Miscellaneous Personal Expenses
Miscellaneous personal expenses may include costs incurred by a student for a prior learning assessment (for example, an exam or a portfolio evaluation).
Living Expenses: Food and Housing Allowance for Students
For all students who are enrolled on at least a half-time basis, the school includes in their COA an allowance for living expenses, including food and housing (formerly known as “room and board”). The food and housing allowance is based on the student’s situation. For students who do not or cannot choose institutionally owned or operated food services, a standard allowance for purchasing food off campus that provides the equivalent of three meals per day.
Fees for Federal Student Loans
For students receiving Direct Loans or loans under any other federal student loan program, the COA includes fees required to receive the loans (for example, the loan fee for a Direct Loan). Fees for non-federal student loans are not included. Standard College determines the fee based on the actual loan fees charged to the student.
Dependent Care Costs
For students with dependents, this allowance covers actual costs expected to be incurred for dependent care during periods that include but are not limited to class time, study time, field work, internships, and commuting time for the student. The amount of the allowance is based on the number and age of the student’s dependents and should not exceed reasonable cost in the community for the type of care provided.
The direct educational cost for the Practical Nursing Program is $24,723.32 for both the dependent and independent student.
The direct educational cost for the LPN to RN Transition Program is $29,832.00 for both the dependent and independent student.
