|
Regulations regarding a student’s COA were established by the Higher Education Act, as amended. The COA is designed to support the student attending school – not extended family – except as noted under budget adjustment allowances.
COA is reviewed annually and updated with estimated information in March of each year; information is not finalized until the June Board of Visitors meeting.
Note: Tuition and fees are subject to change without notice.
A student’s annual COA includes:
- Direct costs (expenses paid to the school):
- tuition
- mandatory fees
- health insurance (unless a waiver is submitted)
- Additional expenses (funds a student may need for other allowed costs):
- room (lodging, basic utilities)
- board (food)
- books and supplies
- transportation for educational purposes (gas, auto insurance, maintenance, but not the purchase of a vehicle)
- personal (basic hygiene, laundry, etc.)
- loan fees
Regional cost of living indices are used in adjusting room, board and transportation allowances. Programs are polled for books and supply costs. Adjustments are made annually for actual direct costs based on recommendations by EVMS Financial Services and the Office of the Vice President for Administration & Finance as approved by the board.
Students’ actual expenses will vary according to lifestyle and personal choices. Please review this summary of COA related to living, personal and travel allowances. A carefully planned personal budget for these expenses can help save money and reduce overall indebtedness.
Federal regulations require that all financial aid calculations be based on a single COA budget for a program. See specific programs for the current cost of attendance budget:
- Doctor of Medicine
- School of Health Professions
Important: Your COA does not support your family. If you have unusual expenses during an enrollment period, review the policy on budget adjustment allowances to see if you may be eligible to request a budget increase. Requests may be granted based on documented expenses during an enrollment period for:
- eligible travel expenses greater than transportation allowance
- daycare expenses for dependent children
- actual education loan fees withheld from disbursement (if greater than initial estimated amount)
- paid medical bills not reimbursed by insurance
- purchase of a personal computer (once per program)
All requests will be considered on a case-by-case basis within federal regulations.
|
