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How to Calculate your 4-year Program Cost and Loan Debt

Isakson and Roe Act Section 1018

The Office of Student Financial Aid calculates an estimated cost of attendance for one academic year based on information provided on the Free Application for Federal Student Aid (FAFSA).

The estimate includes costs that are billed to the student (tuition and fees, room and board if living on campus) and indirect costs that are not billed to the student (books and supplies, personal expenses and transportation).

Students can locate your College Financing Plan within your MyISU portal.

4-year Program Costs:

To project an estimate of your 4-year program costs, multiply the net price on your College Financing Plan by 4. *

4-year Loan Debt:

To project 4-year student loan debt, you could multiply your first year on your College Financing Plan debt by 4. *

*Disclaimer: The calculations above assume the student declares a major and graduates from that same major within 8 semesters. Estimates of future costs and aid eligibility are subject to change based on factors that cannot reliably be predicted in advance.

Examples: 2022-2023 Indiana resident, living off campus:

Undergraduate – Full-Time Enrollment
Tuition (12-18 hours): $9,452
Room and Board: $11,286 *
Recreation Center Fee: $200
Health and Wellness: $80
Total Direct Cost: $21,018

Book and Supplies: $1,200
Personal Expenses: $1,934
Transportation: $890
Loan Fees: $66
Total Indirect Costs: $4,090
Total Cost of Attendance: $25,108

Graduate – Half-Time Enrollment
Tuition (12-18 hours): $5,256
Room and Board: $11,286 *
Recreation Center Fee: $200
Health and Wellness: $80
Total Direct Cost: $16,822

Book and Supplies: $528
Personal Expenses: $2,790
Transportation: $890
Loan Fees: $150
Total Indirect Costs: $4,358
Total Cost of Attendance: $25,108

*in the examples, the student is living off campus and will not see this fee on the bill. However, we include room and board in the cost of attendance so students can budget for their estimated housing expense.

For cost details, please go to: https://www.indstate.edu/costs-aid/costs-undergraduate or https://www.indstate.edu/costs-aid/tuition-graduate

State Financial Aid Programs:

Students may be eligible for various state aid programs. For information please go to https://www.in.gov/che/state-financial-aid/state-financial-aid-by-program/ or https://www.indstate.edu/financial-aid/types.

Federal Financial Aid Programs:

Eligibility for the following federal programs is determined, in part, by the FAFSA.

Federal Pell Grant
Federal Supplemental Educational Opportunity Grant
Federal Direct Loans

Program eligibility and additional information may be found at https://www.indstate.edu/financial-aid/types

Tuition/fees and room/board rates are subject to change annually. Please visit our website at http://www.indstate.edu/costs-aid for the current cost of attendance and http://www.indstate.edu/bursar-operations/lab-fees for additional lab, course, and program fees.

This calculation also assumes your federal, state, institutional and outside aid eligibility remain relatively the same according to your FAFSA and scholarship renewals.

While loan limits increase as students’ progress through college, students are encouraged to borrow wisely. For information on student loans, please go to http://www.indstate.edu/financial-aid/types or http://studentaid.gov/.

 

70% of ISU undergraduate students who:

  • started at ISU as first-time full-time freshman,
  • graduated within 4 – 4.5 years in the program of study in which they started,
  • borrowed student loans

Borrowed $15,000 - $35,000 to help finance their education.

Based on data from: 4-year cohort that graduated in Fall 2020/Spring 2021

 

The above information has been provided as recommended by the Johnny Isakson and David P. Roe, M.D. Veterans Health Care and Benefits Improvement Act of 2020.

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