Cost of Attendance
The Cost of Attendance, also known as your “budget”, is the total expenses a student would typically incur in a given academic year at Providence College . This figure is comprised of both direct expenses which will appear on your student billing statement (i.e. tuition, fees, room and board) and indirect expenses that will not appear on your student billing statement (i.e. allowance for books, personal expenses). The amounts we use to determine indirect expenses are estimates and are based on the amounts students typically spend/incur in a given academic year.
We have prepared the Budget Worksheet to assist you in determining the amount you will be expected to pay toward your direct costs after your financial aid has been credited to your billing statement. You will need to your most recent Financial Aid Notice to help you complete this worksheet.
Once you have completed the Budget Worksheet and have estimated your remaining bill, there are several avenues available to help cover the remaining costs. In the Alternative Financing Options section, you will find a general overview of the most common financing options to help guide you toward a decision that will best suit your needs (i.e. payment plans, parent loans and alternative loans). Ultimately which financing option, or combination of, you choose is up to you and your family since the appeal and benefit of these alternatives will be influenced by your individual family financial circumstances, comfort levels and need. Families should secure financing for the year and not on a semester basis. Also, whatever option you choose this year can be changed in future years.
When deciding how much to finance, you are able to borrow up to your “budget” minus any other financial aid or resources you are receiving. For example:
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$41,445
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Yearly Cost of Attendance ("budget")
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$20,500
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Amount of Financial Assistance
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$20,945
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Maximum Alternative/Parent Loan able to borrow
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This affords you the opportunity to borrow a little more than your direct charges in order to help defray other costs you may incur throughout the academic year (i.e. books, personal expense). If you have a credit on your student billing account after all your direct charges and financial aid resources have been applied, the Bursar’s Office will issue you a refund check after the add/drop period.
As a reminder, the Bursar’s Office requires payment of all direct expenses on or before August 15th for the fall semester and December 15th for the spring semester.