Before the Financial Aid Office can calculate your aid, it must first figure your budget (Also known as your Cost of Attendance COA). The COA covers all your costs per year, from tuition and fees to books to food, transportation and any other costs you could have during the year. This helps determine the maximum amount of aid you can receive for the academic year.
Your budget is based on several factors, including how many classes you're taking, if you're enrolled full year or half year, etc. Each year, we survey current students on their costs for the current academic year. The results are averaged, adjusted for inflation and then used to calculate a student's financial need for the academic year.
You won't be billed for the items on your Cost of Attendance, except for your tuition and fees and, if you live on campus, housing. The other categories on your COA helps the financial aid office account for other costs you will have during the year and how much financial aid you may need to cover those costs.
Your Cost of Attendance is broken down into five categories:
Below you will find an example of a COA breakdown as it is seen on myIPFW. Once you are awarded, you will be able to view yours on myIPFW.
Using the above example, the student's budget is $24,725. That is the maximum amount that the student can receive in financial aid for the academic year.
Once your Cost of Attendance is figured, we award your financial aid, using the Cost of Attendance figure as the maximum amount of financial aid (grants, loans, and scholarships combined) that you can receive during an academic period.
Students who will receive CVO next year must be aware of recent changes made by the state of Indiana. Visit the state of Indiana's website to read more!