How do I determine if I have enough financial aid to cover my educational expenses?
In order to determine if you have enough aid to cover your educational expenses or whether you might wish to decline some loan funds you must first understand the cost of education per term vs. the amount of aid you are receiving. In order to do this you need to evaluate what you have been awarded in financial aid as outlined on the Award Disbursement Notification Letter from VFAO. You will need to add the amounts of the different aid types per trimester you will attend in the academic year (indicated by a number 1, 2 or 3) and compare to the cost of educational expense per trimester.
Financial Aid Per Term - Tuition & Fees Per Term = Balance / Stipend Due
Standard cost per trimester is roughly $2868 (4 classes) or $2843 (3 classes)* with the additional cost for Mardi Gras in the Winter trimester of $520 and Mardi Gras fee of $200 (Oakland campus students also need to include estimated travel cost of $600 ).
Once the aid types have been added, subtract the appropriate cost per the corresponding trimester to determine if you will have enough funds to cover all the educational expenses or whether you might want to decline some loan funds if you have more than enough to cover your expenses for that trimester. In the event that you wish to change/decline loan funds it is recommended that you contact the Financial Aid Office to prior to accepting your award to make sure that the changes make financial sense.
* B.A. students registered for 10-16.34 credits are awarded the full-time student scholarship. Students registered at 16.35 and above are charged $260/credit.