Quick Budget Worksheet
Quick Budget Worksheet
If your resources are relatively fixed and you need help determining how much you have available for your monthly budget, please complete the quick worksheet below.
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(A) TOTAL YOUR RESOURCES
Some required items will be payable annually, semi-annually quarterly etc. rather than monthly. For example: one-half of the annual tuition is payable at the start of each semester, the school-sponsored health insurance policy can be paid in one lump sum or in semester installments, books are purchased in blocks corresponding to coursework, and diagnostic instruments must be purchased at the end of December in the first year. Subtracting these costs from your total resources "up front" will give you a more accurate picture of what you may safely spend per month on living expenses and other discretionary costs. (B) TOTAL YOUR LUMP-SUM FIXED
COSTS
(C)
SUBTRACT TOTAL OF (B) FROM TOTAL OF (A) $____________ Per federal regulation, financial aid
must be based on actual periods of enrollment. Unfortunately, students'
funds sometimes have to stretch over longer periods. For example,
apartment rent is likely to be due a month or two before school starts;
and most leases are for 12 months. Actual enrolled periods are 10
months for first year, 12 months for second and third year, and 12
months for fourth year. (D)
DIVIDE RESULTS OF (C) BY # OF MONTHS BELOW:
Med 1: 10 months Med 2: 12 months Med 3: 12 months Med 4: 9 months
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