It is essential to determine how much you’ll be spending each semester. Beyond the costs of tuition, fees, books, supplies, room and board there are also daily living expenses that must be considered. The Office of Financial has developed a budget which accounts for costs that will not appear on your UAB tuition statement. This budget may assist you in developing a more complete picture of what your total costs.
While budgets will vary according to each student’s circumstances, the sample budget below will give you a general idea of the full cost of attending UAB.
Sample Budget for 2010-2011:
This budget is an example of a student who is an Alabama resident living on campus in the residence halls.
Tuition and Fees: $5,806
Tuition and fees shown are based on fall 2010 rates and a course load of 12 credit hours each semester (fall and spring).
Room and Board: $9,470
This amount would include fall and spring charges for a double occupancy room and a meal plan in the campus dining center.
Books and Supplies: $1,000
Text books and materials for classes average roughly $1,000. This varies slightly based upon the requirements of various courses.
Personal Expenses: $2,000
There are a number of costs to consider that are not included as part of your direct costs at UAB. These costs range from laundry, toiletries, entertainment, etc. These costs need to be managed carefully through the development of a budget.
Getting to and from campus is an expense that impacts all students. Gas, parking permits, and routine maintenance are expenses that will affect all students in some way.
This represents the projected cost of attending UAB for an academic year. While this may vary by student, it does provide a starting point for building a budget.
Students who complete the Free Application for Federal Student Aid (FAFSA) may be eligible for need based aid. The result of the FAFSA is your expected family contribution (EFC). Simply put, this is the amount your family will contribute toward your college costs. The information you give on the FAFSA (see section 2) will help you estimate your EFC.
The difference between your cost of attendance and your EFC is your estimated financial need. Many students from many different backgrounds and income levels may have some amount of financial need.
Cost of Attendance (Two Semesters): $20,326
This is the cost of attendance from the example above for a student living on campus.
Expected Family Contribution (EFC): 9,326
For the purpose of this example, let’s assume that the results of the FAFSA indicate that the student’s family can contribute the amount above to the cost of education given their financial information.
Financial Need: $11,000
The amount of financial need is the cost of attendance minus the EFC. To help meet your financial need, UAB offers a variety of financial assistance options, from loans and grants to scholarships and work-study. In fact, each year UAB awards over $100 million to help students pay for college. You may be eligible for several of these programs, and the best way to find out is to apply.
International Students: Since federal financial assistance programs are limited to U.S. citizens and permanent residents, most international students pay for college using personal or family funds. However, other sources of funding may be available. To learn more, click “International Students” in the Services sidebar or contact UAB International Scholar and Student Services at (205) 934-3328 and email@example.com.