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Financial Aid Terms

  • Financial Aid Terms

    Cost of Attendance (COA): The total amount that it will cost you to attend college during the school year.  COA for full-time students includes tuition, fees, books and supplies, personal expenses, transportation, housing and meals.  COA for students attending less than half-time includes tuition, fees, books and supplies, transportation.  

    Grants and Scholarships: Student aid funds that do not have to be repaid. Grants are often need-based, while scholarships are usually merit-based.

    Net Costs: An estimate of the actual costs that you or your family will need to pay during the school year to cover education expenses. Net costs are determined by taking the Cost of Attendance and subtracting your grants and scholarships. 

    Work-Study:A federal aid program that assists student with the cost of education.  Students earn financial funding through part-time employment.

    Student Loans: Borrowed money that must be repaid with interest. Loans from the federal government typically have a lower interest rate than loans from private lenders.

    Expected Family Contribution (EFC): A number used by a school to calculate the financial aid you are eligible to receive.  The EFC is determined by the information you provided on the FAFSA and reported on your Student Aid Report.  It is not the amount of money your family will have to pay for college.

    Graduation Rate: The percentage of students who graduate from an institution. This shows students who completed their degree or certificate within 150 percent of normal time.

    Loan Default Rate: The percentage of students who are unable to consistently make payments on their federal loans within three years of leaving school.  A low loan default rate typically means graduates are earning enough income to successfully repay their loans.

    Median Borrowing: The amount in federal loans the typical undergraduate student takes out.

    It also indicates the monthly payments that an average student would pay on that amount using a 10-year repayment plan. 

  • Need Help?

    Financial Aid - Visit Us

    City Campus
    Student Support Center - Room O102A
    45 Oak Street
    Buffalo, NY 14203
    M8 a.m. - 6 p.m.
    Tu-Th8 a.m. - 4 p.m.
    Fri8 a.m. - 2 p.m.
    North Campus
    Spring Student Center - Room S201
    6205 Main Street
    Williamsville, NY 14221
    M, W, Th, and F8 a.m. - 4 p.m.
    Tu8 a.m. - 6 p.m.
    South Campus
    Building 5 - Room 5206
    4041 Southwestern Blvd.
    Orchard Park, NY 14127
    M, Tu, Th, and F8 a.m. - 4 p.m.
    W8 a.m. - 6 p.m.