COA transportation funds

[BLACKTEXASDOC]

I have a real quick question. The schools that I am applying to offer $3300 in transportation fee.

It says that "credit cards and automobile payments are NOT, and will not be, included in your cost of attendance. In addition, expenses for spouses or other family members, (including family health insurance premiums) other than child care expenses, may NOT be included."

The issue is that if i can't use it for my car note than what do I use it for?

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[deleted480308]

I have a real quick question. The schools that I am applying to offer $3300 in transportation fee. I just purchased a new car and will owe $14,000 with $303/month car note for the next four years. Can I use those transportation dollars to pay my car note?

It says that "credit cards and automobile payments are NOT, and will not be, included in your cost of attendance. In addition, expenses for spouses or other family members, (including family health insurance premiums) other than child care expenses, may NOT be included."

The issue is that if i can't use it for my car note than what do I use it for?

You can spend the money on anything you want, they just won’t consider that an argument to increase the coa

 

[zToothinator]

When they say that "credit cards and automobile payments are NOT included in the COA", it means that the number they estimate doesn't include those payments. So for example, the number they give you might cover gas, airplane tickets, bus passes, etc for whenever you're in school and if you visit home.

 

[BLACKTEXASDOC]

When they say that "credit cards and automobile payments are NOT included in the COA", it means that the number they estimate doesn't include those payments. So for example, the number they give you might cover gas, airplane tickets, bus passes, etc for whenever you're in school and if you visit home.

Why do you think that the estimated transportation dollar amount is so high? $3300 is a lot of money!

 

[deleted480308]

Why do you think that the estimated transportation dollar amount is so high? $3300 is a lot of money!

It’s not enough to pay your car loan let alone gas/insurance/maintenance so it’s not really that much

 

[zToothinator]

Why do you think that the estimated transportation dollar amount is so high? $3300 is a lot of money!

Moving, airfare if you’re out of state, driving if you commute to school instead of being within walking distance, parking pass, car insurance maybe, gas, etc. While 3300 is a lot of money, I’d talk to current dental students at that particular school to see how the estimated COA compares to what they actually pay.

 

[BLACKTEXASDOC]

It’s not enough to pay your car loan let alone gas/insurance/maintenance so it’s not really that much

The school has on-campus apartments and I pay my parents for insurance because its cheaper. I don't anticipate maintenance issues, its a brand new car.

 

[zToothinator]

The school has on-campus apartments and I pay my parents for insurance because its cheaper. I don't anticipate maintenance issues, its a brand new car.

No maintenance issues but still need to take it in for routine maintenance - oil, transmission, hoses, steering fluid, check belts, brakes, etc that can add up.

 

[BLACKTEXASDOC]

No maintenance issues but still need to take it in for routine maintenance - oil, transmission, hoses, steering fluid, check belts, brakes, etc that can add up.

True. I use synthetic oil ($90 X 2 year). I change my oil and rotate tires every 6,000 miles. Its a Toyota so it doesn't require much. Won't need new tires for a while. I bought top of the line warranty from my credit union bank just in case issues arise. I plan to live on campus. But even if I don't live on campus there are a lot of apartments around. At the most the commute will be 20 miles round trip from apartment to school so gas shouldn't be an issue.

 

[deleted480308]

The school has on-campus apartments and I pay my parents for insurance because its cheaper. I don't anticipate maintenance issues, its a brand new car.

You started a whole thread about not having enough money and now you are arguing that it’s too much

I wish you well

 

[knewstance]

If you've been planning on going to dental school the whole time, why in the world would you get a loan on a car, knowing that you would not have a true income during the majority of your repayment period? Now you are going to pay for a loan with another loan?

Edit: I do have something constructive to add - make sure you have some money put away for when your loans don't come right away ect so that you can still make your payments on time and maintain a healthy credit score.