Office of Financial Aid
Determining Cost
The first step in evaluating your awards package is understanding how much money you are going to need for your college experience.
There are two terms related to costs of which you need to be aware:
- To determine your financial need, the Office of Financial Aid uses a Cost of Attendance Budget. This is not the same as your billing statement, so don't be alarmed. For determining your need and awarding aid, we use both the direct costs for which you will be billed (tuition/fees) AND other costs associated with a college education, such as room and board, books and supplies, average loan fees, transportation costs (to and from home or commuting to school) and miscellaneous expenses (hygiene products, clothing, social events, etc.) Budgets will vary with state residency status and housing/meal plan choices. To view your budget, refer to Bearcat Web "Estimated Cost of Attendance". To see all budgets used for the most recent year, click here.
- Direct costs are what you will be billed by the Business Office each semester. For the latest charges, go to the Business Office website at http://www.lander.edu/business_office/bo-home.html. Charges are shown by semester, so for your planning purposes, be sure to estimate for both terms. These costs include tuition and fees. If you live on-campus, housing and meal plan charges will be included.
SPECIAL NOTE: The Business Office doesn't bill up front for books since cost varies by student course enrollment, new/used books, etc.
Plan carefully for what you will need. The direct costs billed by Lander cannot be “ trimmed” from a budget. However, if you take the time now to create a reasonable budget, you may be able to reduce your discretionary expenses such as cell phone plans, pizza, etc., and you will be much more successful in your financial planning. You must define a budget that is appropriate for you.
Consider your resources. After you have determined your budget for the year, deduct any scholarships or grants that may be available to you. (To view aid on your Lander account, log in to your Bearcat Web account.) Then review your savings, your family’s contributions, and any earnings from a part-time job you currently hold or anticipate having. Deduct these from your budgeted needs. After reviewing the above resources and you still have need of additional funds, then and only then, consider loan options.
