Learn how example students at the College of Mount St. Joseph made earning a degree affordable with financial aid.
There are several things you should consider when evaluating college costs:
- Time-to-degree
- Financial aid options
- Out-of-pocket expenses
- Available tax credits
The total cost of your education includes:
- Tuition
- Room and board
- Books
- Fees
- Transportation
- Personal expenses
Families are unique and so are their financial needs. These four case studies portray different scenarios of financial need and total aid packages.
Case Study: Julie
Julie lives close to the Mount and has decided she would like to continue living at home while in college. She is from a family of four, whose parents have a combined income of $60,000 and very little savings.
| Per Year | |
|---|---|
| Tuition and fees | $24,400 |
| Books and other expenses | $3,800 |
| Total commuter student budget | $28,200 |
| Expected family contribution | -$5,200 |
| Total financial need | $23,000 |
| Based on her academic record and her financial need, Julie received the following aid package: | |
| Elizabeth Seton Scholarship and Mount Grant | $15,500 |
| Federal Student Loans | $6,500 |
| College Work Study | $1,500 |
| Total Aid | $23,500 |
Case Study: Michael
Michael works a part-time job at his neighborhood library, so he plans to commute. His parents are both retired.
| Per Year | |
|---|---|
| Tuition and fees | $24,400 |
| Books and other expenses | $3,800 |
| Total commuter student budget | $28,200 |
| Expected family contribution | -$2,500 |
| Total financial need | $25,700 |
| Based on his academic record and his financial need, Michael received the following aid package: | |
| Mount Opportunity Award and Mount Grant | $9,500 |
| Federal and State Grants | $3,100 |
| Loans | $6,500 |
| College Work Study | $1,500 |
| Total Aid | $20,600 |
Case Study: Adam
Adam lives about three hours from the Mount so living in the residence hall is a must. His parents both work outside the home, earning a total income of $175,000. They have savings of $30,000.
| Per Year | |
|---|---|
| Tuition and fees | $24,400 |
| Room and Board | $7,632 |
| Books and other expenses | $1,800 |
| Total resident student budget | $33,832 |
| Expected family contribution | -$38,239 |
| Total financial need | $0 |
| Because Adam’s expected family contribution exceeds his cost of attendance, he won't receive need-based aid. However, he will receive the following aid: | |
| Merit Award | $8,500 |
| Unsubsidized Federal Direct Loan | $5,500 |
| Total Aid | $14,000 |
Case Study: Katie
Katie would like to live on campus. She has several brothers and sisters. Her father died several years ago, and her mother has to support the family with her earnings and the Social Security benefits the family receives. Katie has a minimum wage, part-time job that helps her cover her own incidental expenses.
| Per Year | |
|---|---|
| Tuition and fees | $24,400 |
| Room and Board | $7,632 |
| Books and other expenses | $1,800 |
| Total resident student budget | $33,832 |
| Expected family contribution | $0 |
| Total financial need | $33,832 |
| Based on her academic record and her financial need, Katie received the following aid package: | |
| Trustee Scholarship and Mount Grant | $13,000 |
| Federal and State Grants | $7,398 |
| Federal Student Loans | $6,500 |
| College Work Study | $1,500 |
| Total Aid | $28,398 |