Hi Kevin,

Thanks for taking the time to share your thoughts. You are certainly not the only one who found their COA budget to be extremely limiting. After hearing similar comments from some other readers, I investigated the issue, and found that COA accuracy is a pretty big issue for many students.

As for additional options beyond my suggestion of asking your school to adjust the numbers, I’m afraid the alternatives are pretty lousy. I think running up credit card debt or personal loan debt is extremely risky. Finding less expensive living arrangements or earning money during school usually isn’t the solution that most borrowers are looking for. Sadly, I don’t think there are many good options available for students who need to overcome a limiting COA.

That said, if you do have any other ideas, I’m always happy to update articles as new information becomes available.

First, let me start by congratulating you on your debt concerns while you are still getting an education. In my line of work, I mostly see people who regret their choices long after they were made.

As for your question, I think you have identified several different avenues for which you may qualify for a scholarship. My advice is to seek out every opportunity you can find; which you seem to be well on your way to doing. I always tell people that the harder a scholarship is to find, the fewer people will apply, and the better your chances will be. I’d investigate national, state, and local organizations dedicated to empowering people such as yourself.

I wish you the best of luck in your treatment and your studies.

I am in a unique situation. Two years ago I was diagnosed with breast cancer and went through all the chemo, surgeries, and radiation therapies – I’m still in cancer treatment. I haven’t been able to work due to the side effects of treatment and then the pandemic. Throughout the majority of my professional life I was a bartender and nanny. Last year I started studying cyber security through CSU Global and took out a small loan for school. Turned out, CSU Global’s curriculum was not sufficient for the certifications I needed, so I quit (also, they marked up the cost and were charging way too much for very little support, feedback, and the overall course). I then studied on my own and passed a valuable certification. I am working on a second certification and studying independently. I do not have an income and was denied for a loan recently. Are there any scholarships or grants for someone in my position? An adult female pursuing STEM, in cancer treatment, who has proven she can make the grades and get the certificates? I’m feeling quite crestfallen over here. Shame this country only gives scholarships if you’re enrolled in the overpriced college system.

HI Erin,

Based upon your comment I dug deeper into the accuracy of Cost of Attendance calculations. I think that you are right that there are times where the COA is unreasonably low.

I still think borrowers should treat it as a red flag and make sure they are not spending too much on housing and other expenses, but if they are on a reasonable budget and it exceeds the cost of attendance, schools should adjust the COA accordingly.

Thanks again for taking the time to share your thoughts and experience.

Hi Erin,

Thank you for taking the time to write such a thoughtful response and to share your experiences.

I will reach out to some of my contacts in financial aid to get their perspective on your situation and update the article accordingly. Out of curiosity, have you requested a COA adjustment at your school? It seems to me that you make an excellent argument for an adjustment.

Thanks,
Michael

P.S. I would attach photos of the certified COA breakdown alongside the cost of tuition, rent, and books to show just how much lower it is than the actual COA, but there is no place to do so here.

Hi Michael,
As a nursing student, I can assure you the COA is far lower than the actual COA at many schools. I myself am trying to figure out how in the world to pay for this program, and I have several classmates living out of their vehicles to make ends meet. The COA in each section is lower in almost every aspect. For example, we are allotted $400 for textbooks and supplies, which is insane seeming as how our book bundle alone was $1,200. We are allotted $953 for food and housing, but most apartments (even the one I lived in that did not have AC or a toilet that flushed properly for 11 months) are well over $1,000. If I could find a way to pay for school, I know I could pay off the debt, but the problem is, in the USA, a college education is nearly impossible for low income (and even many middle class) students to obtain. There are also a great deal of people in homeless shelters now due to unaffordable tuition costs and rising rents, and there is no end in sight. Please consider that the COA is not reflective of the true COA for half the students, much less a conservative estimate, because it is an average. It is actually a huge issue, especially in medical programs.

Thanks,
Erin

Hi Benjamin,

Thanks for taking the time to comment. Is this an opinion of yours, or do you have a source to back that up? I did some quick research to investigate your claim and haven’t found anything to suggest that the majority of colleges underestimate. However, I’d be happy to update the article if there is anything that is not accurate.

Thanks!