Financial Need, Cost of Attendance, and Net Price Calculator

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Financial Need

Financial aid requires financial need, except for unsubsidized loans. Financial aid was established on the premise that the primary responsibility for paying educational expenses rests with you and your family.

Information from the FAFSA is used to calculate your expected family contribution (EFC). The EFC determines your eligibility for need-based financial aid using the following formula:

Cost of Attendance – Expected Family Contribution = Financial Need

Our office will assist you and your family in trying to meet your financial needs by offering a combination of grants, scholarships, loans, and employment opportunities. If you have no financial need, you are still eligible to be considered for options like unsubsidized student loans and non-need-based financial aid.

Cost of Attendance

What is the Cost of Attendance?

The cost of attendance is not the bill that you will receive. It is an estimate of what it costs the typical student to attend their program. Don’t be startled by the price listed in the cost of attendance, it includes and represents your basic living expenses in addition to tuition, books, and supplies.

When comparing financial aid from other schools, make sure you are comparing the total cost of attending that school, not just the total financial aid. It is important for you to budget and make wise decisions regarding how to utilize the financial aid funds you receive. Students are not allowed to receive aid that exceeds their cost of attendance.

Understanding Cost of Attendance

  • Tuition and Fees: The average cost of tuition and fees for a typical student based on enrolling for a certain number of hours per year. The actual costs that a student incurs will vary depending on the student’s program.
  • Room and Board: A reasonable estimate of what it would cost to live while attending school. Actual costs may vary by individual choices related to location and circumstances. Typically includes rent, food, snacks, household supplies and utilities.
  • Books and Supplies: The cost of books and supplies for a typical student for their selected program of study. Typically includes books, educational supplies, course materials, and computer-related expenses excluding the purchase of a personal computer.
  • Transportation: Represents travel costs for the average number of trips the typical student might take. What you spend on travel may be higher or lower depending on your number of trips, distance, and mode of travel.
  • Personal Expenses and Miscellaneous: Estimate of costs for clothing, haircuts, entertainment, and other miscellaneous expenses. What you spend on these types of items may be higher or lower depending on your own lifestyle.

2022-23 Cost of Attendance Budgets

Net Price Calculator

The Net Price Calculator is a tool for students and parents to estimate the cost to attend Summit Salon Academy. Results may vary due to differences from student to student. Your actual aid eligibility is determined by the information submitted on the Free Application for Federal Student Aid.

Who Should Use This Calculator?

This calculator is best for first time in college, full-time students. It does not apply if you are an international student, a current Summit Salon Academy student, or a recipient of certain scholarships.

The calculator assumes that you will complete a Free Application for Federal Student Aid (FAFSA) by February 1st. Results are based on 2020-21 data and remember your actual aid may vary.