Understanding College Cost, Financial Aid Package & Student Budget
Evaluate College Cost & Financial Aid Packages
One of the most important factors when selecting a college is whether the institution will meet your educational needs. Additionally, you and your family must consider the cost to attend college when deciding where to enroll.
Cost of Attendance (COA)
When planning for college, you need to review the Cost of Attendance (COA), which includes tuition and fees, housing (room and board), transportation, books, supplies, and personal expenses. If you plan to live at home, the estimated cost for attending CUNY full-time for nine months includes tuition and fees plus approximately $10,500 for all other costs. If you plan to live away from home, the estimated cost is approximately $24,500.
Expected Family Contribution (EFC)
Your Expected Family Contribution (EFC) is the amount you and your family can reasonably contribute toward yearly educational costs based on the information you supply on your FAFSA. Factors such as your family's income, number in household, certain assets, taxes paid, and the number of family members attending college are used to compute your EFC.
Your EFC is used to determine the amount of federal financial aid you may qualify for, such as Pell, Federal Work-Study, and subsidized federal loans. In addition, the EFC can be used to determine your eligibility for various college scholarships. For federal financial aid, your EFC is calculated the same way for every college.
For more information on EFC please visit: Expected Family Contribution – The City University of New York (cuny.edu)
Financial Need
Financial need is the difference between the Cost of Attendance and your Expected Family Contribution.
COA-EFC = Financial Need
CUNY Net Price Calculator
To help determine the financial aid you may receive, a Net Price Calculator is available on the CUNY website. This tool calculates an estimated financial aid award package along with an estimated cost of tuition and fees. The Net Price Calculator also helps compare costs at CUNY to other institutions to determine which colleges are most affordable for you.
Financial Aid Package
Based on your financial need, CUNY constructs a financial aid package for you. The financial aid package may include various types of financial aid to help cover all or part of your college costs. If you have financial need, you may be eligible for grants, work-study and subsidized loans.
Student Budgets
The cost of your education includes more than tuition.
The cost of your education, whether it is at CUNY or any other college, includes more than tuition. When we calculate your eligibility for financial aid, we assign you a "Cost of Attendance Budget." This budget includes the cost of books, supplies, transportation, and miscellaneous personal expenses.
Below are the estimated nine-month budget for variable costs (in addition to tuition and fees) for students living at home and students living away from home.
| Living At Home | Living Away From Home | |
| $ 1,364 | Books and Supplies | $ 1,364 |
| $ 1,122 | Transportation | $ 1,122 |
| $ 1,360 | Lunch | $ 1,360 |
| $ 1,883 | Personal Expense | $ 4,782 |
| $ 4,700 | Room and Board | - |
| - | Housing | $ 14,067 |
| - | Food at Home | $ 2,492 |
| $ 10,429 | Total Variable Cost | $ 25,187 |
| Living At Home | Living Away From Home | |
| $ 1,500 | Books and Supplies | $ 1500 |
| $ 1,188 | Transportation | $ 1,188 |
| $ 1,700 | Lunch | $ 1,700 |
| $ 1,928 | Personal Expenses | $ 2,646 |
| - | Medical Expenses | $ 2,381 |
| $ 5,080 | Living Expenses | - |
| - | Housing | $ 17,604 |
| - | Food at Home | $ 2,484 |
| $ 11,396 | Total Variable Cost | $ 29,503 |
| Living At Home | Living Away From Home | |
| $1,500 | Books and Supplies | $1,500 |
| $1,188 | Transportation | $1,188 |
| $4,332 | Meals | $4,332 |
| $2,005 | Personal Expenses | $2,768 |
| - | Medical Expenses | $2,260 |
| $6,610 | Living Expenses/ Housing | $17,928 |
| $15,635 | Total Variable Cost | $29,976 |
*Note: Must add tuition and fees to total variable cost to calculate full Cost of Attendance.
Helpful Links:
Contact Us
financialaid@jjay.cuny.edu
212-663-7867
524 West 59th Street
BMW, 607
New York, NY 10019