Financial Terminology Overview
Cost of Attendance (COA)
Tuition & Fees
+ Room & Board
+ Books & Supplies
+ Personal Expenses
= Cost of Attendance
COA is the estimated annual cost to attend college each year; it is calculated by colleges.
Colleges are often the best source for scholarships or merit awards, which are based on a student’s achievements. Some colleges are more generous than others, and much depends on the applicant’s profile; this makes the college list is very important.
launchphase2 will help you create a smart-fitting college list that considers your financial needs and merit award goals.
Colorado and Western State Scholarships
The Boettcher Scholarship is a merit-based scholarship for Colorado high school seniors that is awarded in partnership with our state’s four-year, nonprofit institutions of higher education. At Boettcher we define merit to mean superior scholastic ability/intellectual curiosity, leadership, service, character, and more. We care deeply about lived experience and the context in which a student has thrived as a leader, either because of or in spite of personal circumstances. The comprehensive scholarship program has two models – Cost of Attendance and Tuition & Fees – that support the Foundation’s mission to invest in the promise of Colorado and potential of Coloradans.
The Daniels Scholarship Program offers a four-year college scholarship that provides financial and personal support focused on helping Daniels Scholars succeed in college, and in life. The Daniels Scholarship can be used at any accredited nonprofit college or university in the United States. Our goal is not only to help Daniels Scholars succeed in college, but to ensure that they thrive beyond their years in college.
Every year, Daniels Scholars are selected from our four-state region of Colorado, New Mexico, Utah, and Wyoming. Daniels Scholars have attended more than 400 colleges and universities in 48 states.
Financial Aid Overview
When you apply for financial aid from a college, you will most likely be offered loans as part of your school’s financial aid package. A loan is money you borrow and must pay back with interest. The U.S. federal government and private sources such as a bank or financial institution offer student loans. Student loans offered by the government usually have better terms and benefits. The following are resources that provide more details about student loans:
How much should I borrow?
Before taking out a loan, it’s important to understand that a loan is a legal obligation that makes you responsible for repaying the amount you borrow with interest. A student should borrow only what s/he needs; add up the total cost of your education (COE =tuition, fees, room, board, etc.) and subtract the amount of scholarships, grants, and savings you may have to contribute to your COE.
You’ll also need to consider the earning potential in your chosen profession to determine how easily you’ll be able to repay your debt. Your student loan payments should be only a small percentage (approx. 8%) of your salary after you graduate.