College Planning & Financial Aid
General
Getting a Student Loan
July 21, 2026
When planning for college, students and parents often focus on tuition. However, tuition is only one part of the overall cost of attendance (COA). Understanding the cost of attendance can help families estimate how much financial aid may be available and determine what expenses may need to be covered throughout the academic year.
What Is Cost of Attendance?
The cost of attendance (COA) is an estimate created by a college or university that represents the total cost of attending school for one academic year. It includes both the charges billed directly by the school and other education-related expenses students are likely to incur.
Schools use the cost of attendance to help determine eligibility for financial aid, including scholarships, grants, work-study programs, federal student loans, and private education loans.
Simply put, the cost of attendance is intended to reflect the full cost of being a student—not just tuition.
What Does Cost of Attendance Include?
The cost of attendance generally includes two categories of expenses: direct costs and indirect costs.
Direct Costs
Direct costs are charges that are billed by the college or university. These expenses may include:
- Tuition
- Mandatory fees
- On-campus housing
- Meal plans
These are expenses that students typically pay directly to the school.
Indirect Costs
Indirect costs are estimated expenses that students may pay to third parties. Depending on the student’s circumstances, these costs may include:
- Books and supplies
- Transportation
- Off-campus housing
- Food and groceries
- Personal expenses
- Technology and internet costs
While indirect expenses are not billed by the school, they are still considered part of the overall cost of attendance.
How Do Schools Calculate Cost of Attendance?
Each school determines its own cost of attendance using federal guidelines and institutional estimates. The amount can vary based on factors such as:
- Enrollment status (full-time or part-time)
- Undergraduate or graduate program
- In-state or out-of-state residency
- Living arrangements (on campus, off campus, or with parents)
- Program-specific expenses
For example, a student living on campus may have a different cost of attendance than a student commuting from home.
Cost of attendance figures are estimates, and actual expenses may vary based on individual circumstances.
Example of a Cost of Attendance
Below is an example of how a school might estimate annual cost of attendance for an undergraduate student.
| Expense Category | Estimated Annual Cost |
|---|---|
| Tuition and Fees | $18,000 |
| Housing and Meals | $12,000 |
| Books and Supplies | $1,200 |
| Transportation | $1,000 |
| Personal Expenses | $2,000 |
| Total Cost of Attendance | $34,200 |
Example costs are for illustrative purposes only and do not reflect the cost of attendance at any particular school. Actual expenses may vary.
In this example, the student’s estimated total cost of attendance is $34,200 for the academic year.
Why Is Cost of Attendance Important for Student Loans?
The cost of attendance plays an important role in determining how much financial aid a student may receive.
Financial aid administrators compare the cost of attendance with other available resources, such as:
- Scholarships
- Grants
- Federal student loans
- Savings and family contributions
Private education loans may help cover remaining qualified education expenses after scholarships, grants, and other forms of financial aid have been considered.
In general, the total amount of financial aid a student receives is limited by the school’s certified cost of attendance.
Where Can You Find Your School’s Cost of Attendance?
Most colleges and universities publish their cost of attendance on their financial aid websites. Students and parents can also contact the school’s financial aid office for more information about how the estimates are calculated.
Reviewing your school’s cost of attendance can provide a clearer picture of expected expenses and help you plan for the upcoming academic year.
Frequently Asked Questions
Is cost of attendance the same as tuition?
No. Tuition is only one component of the cost of attendance. COA also includes housing, meals, books, transportation, and other education-related expenses.
Why are personal expenses included in the cost of attendance?
Schools recognize that students have expenses beyond tuition and housing. Personal expenses are included as estimated costs to provide a more complete picture of the annual cost of attending college.
Can I borrow more than my school’s cost of attendance?
In general, the total amount of financial aid and student loans a student receives is limited by the school’s certified cost of attendance.
Does the cost of attendance vary by school?
Yes. Each college or university calculates its own cost of attendance, and the amount may vary based on location, program, and living arrangements.
Final Thoughts
Understanding what the cost of attendance is and what it includes can help students and parents prepare for the full cost of college. By looking beyond tuition and considering both direct and indirect expenses, families can make more informed decisions about financial aid and COA student loans.
Because every student’s situation is different, reviewing your school’s published cost of attendance and speaking with the financial aid office can help you better understand your expected expenses and available options.
Please note that the information provided on this website is provided on a general basis and may not apply to your own specific individual needs, goals, financial position, experience, etc. LendKey does not guarantee that the information provided on any third-party website that LendKey offers a hyperlink to is up-to-date and accurate at the time you access it, and LendKey does not guarantee that information provided on such external websites (and this website) is best-suited for your particular circumstances. Therefore, you may want to consult with an expert (financial adviser, school financial aid office, etc.) before making financial decisions that may be discussed on this website.
