Budget Worksheet for Professionals Students

Creating an annual budget is an important process of your educational experience; it helps you understand your total costs, how your financial aid awards help cover those costs, and any remaining balance due to Cal Lutheran after your aid is credited. When using this worksheet, refer to your Financial Aid Award Letter for a list of your offered awards.

Please be sure to use the applicable term's dollar amount of your award(s) for the term for which you are estimating your balance. Please do not put the full year's award on the form. You will need to complete a separate balance worksheet for each term you plan to attend.

Estimated Single Term Costs for 2014-15
Tuition*
How many units will you take this term?
x $580 per unit = $
Fees $50
Expenses
List additional expenses (rent, food, books, transportation, etc.)
$
Total Estimated Charges for Term $

* You must be registered at least half-time (3 units per term) in order to be eligible for Federal Student Loans.

Estimated Financial Aid for Single Term
CLU Aid, Federal and State Grant Aid**
Add together all grant aid on your award letter.
$
Federal Stafford Loans***
Add together all your Stafford Loans (Subsidized and Unsubsidized.)
$
Gross amount

$
Net amount after 1.072% lender fee deducted

Federal Parent Plus Loan***
For dependent students only
$
Gross amount

$
Net amount after 4.288% lender fee deducted

Alternative/Private Loan****
For dependent and independent students
$
Employer Reimbursement $
Total Estimated Financial Aid for Term $

** Pell Grant and Cal Grant awards may increase or decrease based on the total number of units enrolled in a term.

*** All loan application processes must be completed before the loans will credit to your account. Federal Parent Plus Loans are subject to credit approval. Federal Lending fees may change at the discretion of the U.S. Congress at any time.

**** Interest rates and fees vary by loan type and lender on private/alternative loans. Learn more about alternative loan options

Single Term Estimated Balance
Total Estimated Balance for Term $

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About this Estimate
Important: This worksheet is not a bill. CLU is providing this estimating tool as a means for you and your family to investigate the different costs that may be associated with attending CLU. Your actual charges and balance owed are determined by the Student Accounts Office and sent to you in your pre-bill once you are enrolled. In order to maximize your financial aid, it is important to make wise decisions regarding living arrangements and choice of lifestyle. While personal and transportation expenses are not included in our estimates, we recommend you consider them and budget accordingly.

Cost of Attendance
The cost of attendance for a student is an estimate of that student’s educational expenses for an academic year. The Office of Financial determines CLU's cost of attendance by calculating average expenses for students at CLU, rather than actual expenses. Per federal regulations, the total aid a student receives may not exceed the school’s pre-determined cost of attendance. Therefore, if you receive outside scholarships that causes your total aid to exceed your cost of attendance, we will need to reduce the amount of loans and work-study listed on your Financial Aid Award Letter. Learn more about Cost of Attendance.

Important Note
The Office of Financial Aid understands that sometimes a family’s current financial situation may be drastically different from the prior tax year as originally submitted on the Free Application for Federal Student Aid (FAFSA). In these situations, on a case-by-case basis, a review of your financial information may be warranted. Please contact your Financial Aid Counselor to discuss your situation following payment of your enrollment deposit.

If you have questions or comments about tuition and fees, please contact the Student Accounts Office.

If you have questions or comments about financial aid and cost of attendance, please contact Office of Financial Aid.

 

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