The amount of financial aid for which you are eligible is based on several factors. One is the availability of financial aid program funds, another is the cost of attendance.
Direct Educational Costs at an institution are those expenses over which the student has little control and which are vital to school attendance, such as tuition, fees and books. Financial aid funds should be applied primarily to these expenses. However, it is very important to plan a college budget that covers more than tuition and fees. You may need money for additional expenses related to college attendance.
Additional allowances are made in the student budget for transportation, room, board, personal and recreational expenses. These costs are more likely to be controlled by you than are the Direct Educational Costs. Examine your priorities and life-style to determine the most appropriate ways to save money in these budget areas.
2008-2009 Budget for Canisius College Students
| Full-time Commuter | Full-time Resident | |
| Tuition | $27,100 | $27,100 |
| Fees | $1,057 | $1,057 |
| Board | $0 | $4,160 |
| Room | $0 | $5,990 |
| Direct Educational Costs |
$28,157 |
$38,307 |
| Books/Supplies | $700 | $700 |
| *Board/Room | $1,500 | $0 |
| *Personal/Recreation | $630 | $700 |
| *Transportation | $430 | $430 |
| Cost of Attendance | $31,417 | $40,137 |
*Allowance for additional expenses
Direct Cost/Net Cost
In the 2007-2008 academic year the incoming freshmen received the following average awards, from the following types of aid:
| Commuter | Resident | |
| Grants & Scholarships | $14,846 | $19,735 |
| Student Educational Loans | $4,375 | $5,258 |
| Work Programs | $887 | $1,338 |
| Total | $20,108 | $26,331 |
The "Net Cost" is derived by subtracting the financial aid from the Direct Educational Cost as follows:
| Commuter | Resident | |
| DIRECT COST (2008-2009) |
$28,157 |
$38,307 |
| Student Financial Assistance |
-$20,108 |
-$26,331 |
| NET COST (2008-2009) |
$6,139 |
$9,776 |
The "Net Cost" is the amount that a family would be required to pay from its own resources (i.e., savings, monthly payment plans, etc.) toward the above Direct Educational Costs. Keep in mind that the above illustration is based on average financial aid awards. Some students receive more aid and others less.
The aid administrator will subtract the family's expected contribution (as calculated through the FAFSA) from the institution's cost of attendance to determine the student's financial need. Institutional policy and available funds will determine the level of financial need, which can be met through financial aid.