Budgeting for your college education

The Department of Education provides a budget calculator for students to help determine how much money will be needed for the school year.  This calculator will help determine expenses and estimate total available income.  The results will most likely be a negative number and represents what may be needed to cover tuition and fees.  Visit these sites for more information:

Tips for developing a budget using the budget calculator

  • Follow the instructions provided on the budget calculator website. 
  • Remember you are calculating for an annual cost, so monthly expenses should be multiplied by 9 months to get expenses for an academic year. 
  • Use the University's standard Financial Aid Budget as your source for out of pocket expenses.  These include tuition, housing meals, books and supplies.  It also includes indirect costs such as transportation and personal expenses. 
  • Leave the family contribution field blank, as this is the figure you are trying to determine.