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Calculating the Cost

Am I eligible for Federal Financial Aid?

You are eligible to apply for Federal Financial Aid if you meet the following criteria:

  • Are a U.S. citizen or eligible non-citizen (see FAFSA for details).
  • Are accepted or matriculated into a graduate degree or certificate program.
  • Are not in default of any Federal loans.
  • If you are male, have registered for Selective Service. (If you have questions about your Selective Service status, information can be obtained at www.sss.gov.)

 

 

 

Who should apply?

Anyone who is interested in financing their graduate school education and who meets the above criteria.

 

 

 

How is the Cost of Attendance budget determined?

Your Cost of Attendance is calculated based on fixed expenses (tuition and fees) and estimated expenses (room, utilities, books, travel, and personal expenses).

Tuition for 2014–2015 for Master's or Doctoral Degree, per Credit

School of Social Work $1,052
Lynch School of Education, Graduate Programs $1,260
Connell Graduate School of Nursing $1,200
School of Theology and Ministry $946
Graduate School of Arts and Sciences $1,398
Carroll School of Management, Graduate Programs $1,490
Carroll School of Management Full-Time MBA Program $21,885/per semester
Woods College of Advancing Studies, Graduate $714
Initial Boston College ID Card For Entering Students Fee: $30
Graduate Student Activity Fee: $45 full-time (7 or more credits)
$55 (CGSOM 7 or more credits)
$30 (6 or fewer credits)

Living Expenses for 2014–2015 Academic Year (9 Months)
Rent/utilities $9,585
Meals $3,200
Transportation $2,020
Personal expenses $3,255
Books & supplies $1,300
Federal Direct Loan fees
$220
Total living expenses $19,580

How is Federal Financial Aid eligibility determined?

In order to determine your eligibility for Federal Direct Loans, Perkins loans, and Work-Study, we use your Expected Family Contribution (EFC) as calculated by the information you submitted to the FAFSA to determine your financial need. Financial need is the difference between your EFC and the Cost of Attendance (which includes living expenses) for an academic loan year.

For example:

Cost of Attendance $45,400
EFC
− 4,500
Federal Financial need $40,900

Students Borrowing Summer, Fall, and Spring Loans

All students have an academic year for awarding loans. If you are enrolled in the Summer and plan on taking out Federal Direct Loans, then your academic year may begin in the Summer and continue through the Fall. Spring will be a separate period. If you are applying for an alternative loan or Graduate PLUS Loan, make sure your loan period matches the loan period for your unsubsidized Federal Direct Loan.

Living Expenses:   Monthly   Academic Year
9 Months
  Summer/Fall
7 months
Rent/utilities   $1,065   $9,585   $7,455
Meals   $355   $3,200   $2,489
Transportation   $224   $2,020   $1,571
Personal expenses  
$362
 
$3,255
 
$2,532
Subtotal:   $2,006   $18,060   $14,047
Federal Direct Loan fees   $220   $220
Books  
$1,300
 
$1,300
Total:   $19,580   $15,567

Dependent Care Expenses

Applicants with dependents will be granted an additional budget allowance of $1,800 per dependent under the age of sixteen.

 

 

 

 

 

 

 

 

 

If you would like a paper copy of this webpage, please contact the Office of Student Services' Communications team at sscom@bc.edu or the Office of Student Services.