Skip to Financial Aid site navigationSkip to main content

Understanding Your Financial Aid Award

Welcome new students for the Fall of 2024!  The new students tab will provide you with information about your College Financing Plan (CFP), your estimated Cost of Attendance and direct costs for the upcoming Fall semester.


Fall Admits and Transfers 2024

Understanding Your College Financing Plan (CFP)

Your College Financing Plan (CFP) is a Federal form that provides you with an estimate of how much it may cost to attend college after your financial aid award. The CFP is broken down into sections, and each section provides information about your financing plan.

Fall 2024 Cost of Attendance

The Cost of Attendance is an estimate of your educational expenses for the Spring semester only. Your COA should not be confused with your student account statement (bill). The COA consists of both Direct costs and Indirect costs. Books, supplies, transportation and personal expenses are indirect costs. You will not receive a bill from Ramapo College with those items listed, but we realize that students do have these additional items as expenses, so we include them in your estimated costs to help with family financial planning.

Example Cost of Attendance for Fall Semester Fall Total
Tuition and Fees $8,309 $8,309
Living Expenses $8,185 $8,185
Books and supplies $613 $613
Transportation $126 $126
Other Education costs (miscellaneous costs) $730 $730
Total Estimated Cost of Attendance $17,963 $17,963

Please note this example is based on a NJ resident student living on campus and this is an example of a Fall ONLY budget.

Direct Cost, Cost of Attendance and Net Cost

Your bottom line to attend college is not the Cost of Attendance or your Net Cost. It is your Direct Cost. The Direct Cost is the total out of pocket cost you will be billed by the College: the amount that you will actually pay. Direct Costs include tuition and fees for commuter students; if you are living on campus your room and board will be included in the Direct Cost. The Net Cost on your CFP shows you your Cost of Attendance minus your total grants and scholarships. Student loans are not included in the Net Cost calculation

Example Estimated Direct Costs Fall Total
Tuition and Fees $8,309 $8,309
Room & Board -On Campus $8,185 $8,185

Student Aid Index (SAI)

The Student Aid Index is calculated using the information you provided on the FAFSA form. The SAI is the amount the Federal government estimates you and/or your family can contribute towards your education. The SAI is not your financial aid award and it is not the amount of money it will cost to attend college.

Net Cost

Net Cost is calculated using the Cost of Attendance and subtracting total grants and scholarships. The Net Cost does not include your Federal student loans. Grants and scholarships do not need to be repaid.

Example of Estimated Net Costs

Fall Semester Only estimated only

Total Estimated Net Cost of Attendance (based upon tuition and fees and living expenses for the Fall semester) $17,963
Merit Based Scholarships $4,000
State grant $1,308
Estimated Net Costs (this amount does not include federal student loans)

*example from College Financing Plan using the cost of attendance.


VA Education Benefits

This section will only be populated if you are an eligible Veteran who is receiving educational benefits.

Loan and Work Options to Pay the Net Costs to you

The loan options show the Federal Direct students loans you were awarded based upon Federal guidelines and your grade level. Subsidized means the Federal government is paying the interest on the loan while you are in school and Unsubsidized means the interest is accruing while you are in school.

Work-study is funded from a Federal grant that allows you to work on campus. If you qualify for funding this section will be populated. You have to work to earn your Federal work-study and you will receive a paycheck every two weeks. Please note work-study funds are not subtracted from your bill.

If you have any questions, please contact the Office of Financial Aid at 201-684-7549 or email