The College of Medicine is required by Federal Regulation to develop standard budgets that include typical educational expenses. These include direct educational expenses such as tuition, fees, books and supplies, and indirect costs such as room, board, transportation and miscellaneous personal expenses. Indirect costs for NEOUCOM's student budgets are derived based on annual survey's of current students. The student budget is the key factor in determining financial need. The budget also indicates the maximum amount of financial aid a student may receive for a given academic year.

Students with Spouse and/or Children: Based on Federal government regulations, our Student Budget includes living expenses for only a single student, either living with or without parents. However, the spouse and/or children of the student have not been left out of the financial process. The formulas used to determine expected family contribution (EFC) under Federal Methodology include standard maintenance allowances for independent students. The standard maintenance allowance represents the cost of basic necessitites for all family members and is based on Bureau of Labor Statistics family expense estimates. This allowance includes living costs of spouses and dependents for the entire year, as well as for the student during periods of nonenrollment. Thus, such living costs have been removed from the budget side of the need determination formula and incorporated into the EFC side. All of the budget components indicated for living expenses refer to the students own costs.

Loan Fees: The estimated origination fees deducted form certain loan proceeds (Stafford, GradPLUS) are not listed on the Budget Sheet as line items. These fees will be calculated on a case-by-case basis and added to individual student budgets.

Budget Adjustment Policy - Review the College's Budget Adjustment Policy

Budget Adjustment Request - Form to complete a request for a budget adjustment. Please read the Budget Adjustment Policy prior to completing this form.