Cost of Attendance

 

Cost of Attendance

Understand the cost of attending NJIT is important. As mandated by federal regulations, the Cost of Attendance (also known as COA) is the average cost to attend for one academic year. The University provides individualized cost of attendance which include estimates of tuition and fees, allowances for books and supplies, room and meals, transportation, loan fees, personal expenses, and dependent care (if applicable). Such figures are based on major, first-time enrolled status, and expected enrollment. The COA is used in calculating financial aid eligibility and assessing unmet need. The COA can be used by students and their families to plan their finances for NJIT. Your total financial aid package can never exceed the university’s cost of attendance. The awards that make the package may grants, scholarships, loans, work-study, and scholarships from private entities.

COA: Direct Costs vs. Indirect Costs

It is sometimes confusing for students and families to understand the difference between direct and indirect costs within the COA. Below are some definitions:

Direct costs: are the charges that appear on the student bill such as tuition and fees and room and meals (for those who sign a contract with the Office of Residence Life) and books if using award credit at the bookstore.

Indirect Costs(books, travel, and miscellaneous): these are costs that are not to be confused with your student bill charges as they are estimates of what your entire educational expense and the cost to live for one academic year, and can be used for planning purposes. Such indirect costs are part of the COA because you may need to buy new software, computer, etc. that may qualify for miscellaneous charges. Indirect charges help assess your financial need, and it sets a limit on the total aid that you may receive.

If your aid covers your entire bill and you still have an excess credit remaining you will be notified by the office so that you may purchase your books at the University Bookstore, if desired. Any excess credit not used at the bookstore will be issued in a “refund check” as applicable to the type of award. Refund checks are generally distributed within two weeks after disbursement. The first disbursement is generally 14 days into the semester (if a student awards are ready to transfer).

Living On-Campus

Students who choose to live on-campus must sign a contract with the Office of Residence Life at http://www.njit.edu/reslife/ . The estimated room and meal that are part of the COA for a student living on-campus represents the most commonly selected room and meal plan, which is a double-room, and Meal Plan A.

Living Off-Campus

Students living off-campus who have indicated on their FAFSA about the off-campus living status will be assessed an estimated room and meal value as an indirect cost (does not appear on the bill). The off-campus housing and meal estimate utilizes an estimated figure from the College Board’s Cost of Living Budgets for the NY/Northeastern NJ area. For dependent students are select “living off-campus” as their FAFSA housing status, it is NJIT’s University policy to assess their estimated room and meal indirect COA costs as “living with parent.” We may consider updating the housing status for dependent students who can show an off-campus lease effective during the relevant award period.

Living at Home

Student living with their parents as reported on their FAFSA housing status question will be assess the estimated room and meal value as an indirect cost (does not appear on the bill). The off-campus housing and meal estimate utilizes an estimated figure from the College Board’s Cost of Living Budgets for the NY/Northeastern NJ area. If students change their housing status, they are required to update their FAFSA and inform the Office of Student Financial Aid Services.

Loan Fees

Since federal loans are assessed a loan fee at the time the loan is processed, the amount for a loan fee will be added to the COA if students accept their federal loans. The amount is based on an average of prior year awards.

 

Below are the COA’s by student categories:

  • Continuing Undergraduate Student
    • Non-Architecture Majors (PDF)
    • Architecture Majors(PDF)
  •  First-Time Freshman or Transfer Student
    • Non-Architecture Majors (PDF)
    • Architecture Majors (PDF)
  • Non-Architecture Majors (PDF)
    • Architecture Majors( PDF)
    • Graduate Students (PDF)

Financial Literacy and Planning Resources: