What is included in my Cost of Attendance budget?
Included in the Cost of Attendance budget are direct educational expenses such as average tuition, required fees, and an estimate of the cost for books and supplies. Also included in the Cost of Attendance budget are expenses that are indirectly related to your education, such as an estimate for housing, food/household supplies, transportation and personal miscellaneous expenses. Students can apply for and receive financial aid up to their Cost of Attendance budget.
The Graduate Financial Aid Office establishes a standard allowance for your indirect expenses. In keeping with common practice among financial aid administrators, the cost for indirect expenses is intended to provide a "modest but adequate" standard of living. Housing expenses account for approximately 60% of the overall allowance, and are based on the average cost of a 1-bedroom apartment in the metropolitan Twin Cities area.
Can I receive financial aid in excess of my Cost of Attendance budget?
The financial aid office will include or exclude resources according to regulation for the purposes of awarding state and federal aid. However, it remains our policy to limit the total amount of institutional scholarships or grants a student may receive when these funds, in combination with other assistance from all other sources exceeds the Cost of Attendance budget. All non-FAFSA filers who receive total awards, contracts and/or exemptions funding in excess of cost of attendance will be reviewed following the 10th day of each term. Institutional funds will be adjusted, if necessary, to keep total support within the calculated cost of attendance.