Cost of Attendance (COA), is a term used in the United States to describe the actual amount that a full-time student can expect to spend each year in order to attend a college, university or trade school. The items typically calculated in the cost of attendance include not only the cost of tuition and various academic fees, but also the costs associated with attending school, such as room and board as well as personal funds and expenses. By disclosing the full cost of attendance to prospective students, schools can make these students aware of how much their investment in higher education will cost them. In fact, schools that participate in federal financial aid programs are now required to provide a cost of attendance calculator on their websites so as to assist students in making decisions about going to school.
Interest in the concept of how much a student can expect to pay in total to attend school has, in part, been sparked by those who acknowledge the so-called "higher education bubble." According to this theory, higher education costs continue to climb while the actual value of obtaining a degree or vocational diploma may be decreasing. Critics note that many employers now require employees to have undergraduate and even graduate degrees in order to be hired for jobs that were once performed by people who had high school educations. With a general glut of recent graduates entering the job market, the value of these degrees is diminished as employers have a significant pool of academically qualified candidates from which to choose. This makes understanding the actual cost of education very important to both parents and to potential students who, as they reach adulthood, need to set appropriate financial goals.
In years past, schools typically only offered information about tuition, fees and the cost of on-campus room and board options. The cost of attendance is more comprehensive, and includes things such as spending money, clothing and transportation. This information is generally based on the actual costs associated with living in a particular geographic area, which can vary significantly. With more schools offering distance learning options, the cost of attendance for many schools may prove enlightening: A distance education school may appear to cost more in terms of tuition and fees, but if the cost of living in a city where a brick and mortar school is located is extremely high, the online school may prove to be the best value.
