How is cost of attendance calculated?

[Dr.PotatoHead]

---

Members don't see this ad.

I'm looking at the cost of attendance between different medical schools, and I'm confused about how cost of attendance is quoted. Take, for instance, the Medical College of Wisconsin and Virginia Tech Carilion. Both are private medical schools in relatively low cost-of-living areas. MCW's tuition is 54,000, VTC's tuition is 52,000 - however MCW's COA is 70,000, while VTC's COA is 80,000. Based on the following documents, it looks like VTC quoted $10,000 per year more than MCW for cost-of-living! So, help me out SDN, what is the story here?

https://www.mcw.edu/-/media/MCW/Education/Academic-Affairs/Costs-MCWMILW.pdf?la=en
Cost of Attendance

 

[907914]

Follow up question to that: If one has children and requires a two bedroom apartment and COA does not go that high, will they adjust the rent portion of the COA? (Not like I have more mouths to feed, but I need more floor space).

 

[Matthew9Thirtyfive]

Follow up question to that: If one has children and requires a two bedroom apartment and COA does not go that high, will they adjust the rent portion of the COA? (Not like I have more mouths to feed, but I need more floor space).

In my experience, it is pretty easy to get schools to raise the cost of attendance for things like having a family.

 

[Matthew9Thirtyfive]

I'm looking at the cost of attendance between different medical schools, and I'm confused about how cost of attendance is quoted. Take, for instance, the Medical College of Wisconsin and Virginia Tech Carilion. Both are private medical schools in relatively low cost-of-living areas. MCW's tuition is 54,000, VTC's tuition is 52,000 - however MCW's COA is 70,000, while VTC's COA is 80,000. Based on the following documents, it looks like VTC quoted $10,000 per year more than MCW for cost-of-living! So, help me out SDN, what is the story here?

https://www.mcw.edu/-/media/MCW/Education/Academic-Affairs/Costs-MCWMILW.pdf?la=en
Cost of Attendance

1. What they take into account with COA
2. Different areas have different costs of living—sometimes drastically different

 

[Dr.PotatoHead]

1. What they take into account with COA
2. Different areas have different costs of living—sometimes drastically different

Based on this entirely non-scientific calculator, it seems that VTC should have a cheaper COL than MCW: 2019 Cost of Living Calculator: compare Wauwatosa, Wisconsin to Roanoke, Virginia

So what differences could there be regarding what they account for in COA? Certainly the $10,000 difference can't be entirely attributed to "leisure and recreation"

 

[907914]

Based on this entirely non-scientific calculator, it seems that VTC should have a cheaper COL than MCW: 2019 Cost of Living Calculator: compare Wauwatosa, Wisconsin to Roanoke, Virginia

So what differences could there be regarding what they account for in COA? Certainly the $10,000 difference can't be entirely attributed to "leisure and recreation"

Maybe VTC is using that as a way of attracting people to the area. They know it’s a small school it’s a rural area so they figure maybe if students have more money to spend or can live in nicer places and that’ll sway them to pick VTC

 

[OchemOficionado]

Follow up question to that: If one has children and requires a two bedroom apartment and COA does not go that high, will they adjust the rent portion of the COA? (Not like I have more mouths to feed, but I need more floor space).

Yes. This is standard. You’ll just need to speak with the fin aid office and they’ll be able to increase your budget.

 

[Crayola227]

let me tell you this fact: MCW is ridiculously chintzy cheap about calculating their COL

for example, they outright came out and said that the amount of money they estimate you needing is what it would cost to rent a 2 bedroom and split the rent

granted, most schools you will need to find cheap rent, a studio, a room, or a roommate

but Milwaukie is extremely cheap in general, and a lot of schools when they create their budget don't take as extreme of a stand overall

 

[DrRiker]

let me tell you this fact: MCW is ridiculously chintzy cheap about calculating their COL

for example, they outright came out and said that the amount of money they estimate you needing is what it would cost to rent a 2 bedroom and split the rent

granted, most schools you will need to find cheap rent, a studio, a room, or a roommate

but Milwaukie is extremely cheap in general, and a lot of schools when they create their budget don't take as extreme of a stand overall

Interesting. So if you wanted more, could you take out more loans accordingly?

 

[LizzyM]

Interesting. So if you wanted more, could you take out more loans accordingly?

You can't easily take more than the "cost of attendance" and MCW tends to low-ball the COA.

 

[Matthew9Thirtyfive]

Based on this entirely non-scientific calculator, it seems that VTC should have a cheaper COL than MCW: 2019 Cost of Living Calculator: compare Wauwatosa, Wisconsin to Roanoke, Virginia

So what differences could there be regarding what they account for in COA? Certainly the $10,000 difference can't be entirely attributed to "leisure and recreation"

Cray cray beat me to it.

 

[Med Ed]

I'm looking at the cost of attendance between different medical schools, and I'm confused about how cost of attendance is quoted. Take, for instance, the Medical College of Wisconsin and Virginia Tech Carilion. Both are private medical schools in relatively low cost-of-living areas. MCW's tuition is 54,000, VTC's tuition is 52,000 - however MCW's COA is 70,000, while VTC's COA is 80,000. Based on the following documents, it looks like VTC quoted $10,000 per year more than MCW for cost-of-living! So, help me out SDN, what is the story here?

Let's break down MCW's budget:

Living expenses: $13,900
Books, equipment, supples: $500
Fees: $562
Life/disability insurance: $60

Now VTC's:

Living expenses: $21,747
Books, equipment, supples: $1,367
Fees: $984
Health/dental insurance: $3,540
Loan fees: $480

It looks like MCW's budget presumes that you will have roommates, eat Ramen six nights a week, and be on someone else's health insurance. VTC's is more realistic for non-ascetics.