You've read your acceptance letter twice, and maybe you've already told your family. Then a practical question arrives: How am I actually going to pay for this?

If you're wondering what financial aid covers, you're not alone. Many prospective graduate students assume aid only pays tuition. In reality, it can help with much more, including rent, groceries, and the bus pass that gets you to clinicals.

The key to understanding it all is one phrase: cost of attendance.

What Is Cost of Attendance?

Cost of attendance (COA) is your school's estimate of what one academic year will realistically cost you. It isn't just your tuition bill. It's a full picture of what it takes to live and learn as a student.

Each school sets its own COA within federal guidelines. At Mass General Brigham University of Health Professions, costs vary by program. A nursing student and a physical therapy student have different schedules, supplies, and clinical experiences. You can review current rates on the tuition and fees page.

Why does COA matter so much? Your total financial aid can't exceed it. That includes scholarships, grants, and loans. COA sets the ceiling for everything else.

What Does Financial Aid Cover?

Your COA is made up of two types of costs: direct and indirect.

Direct costs

These are the expenses the school bills you for:

  • Tuition: the cost of your courses and credits
  • Fees: charges such as technology, student services, or program-specific fees

Direct costs are billed through the Bursar's Office, which also handles payment options and student health insurance.

Indirect costs

This is where financial aid for living expenses comes in. You won't see these on your school bill, but they're built into your COA because they're a real part of being a student:

  • Housing and food: rent, utilities, and groceries, whether you live alone, with roommates, or with family
  • Books, supplies, and equipment: textbooks, lab supplies, and in many cases a laptop
  • Transportation: commuting to campus and traveling to clinical placements
  • Personal expenses: everyday needs such as a phone plan or toiletries
  • Loan fees: the origination fees charged when you borrow federal loans

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Healthcare students often face costs that are unique to their field. Background checks, immunizations, scrubs, and licensure exam fees may all be part of your journey. Some of these may already be included in your program's COA, so it's worth asking.

What Financial Aid May Not Cover

Understanding the limits is just as important as knowing what's included. Financial aid generally won't cover:

  • Costs above your COA, such as a higher-priced apartment than the budget allows
  • Major purchases, such as a car
  • Debt you had before starting school, such as credit card balances
  • Expenses that aren't connected to your education

Timing matters, too. Aid is typically sent to the school first and applied to your tuition and fees. Any remaining funds are then refunded to you for living costs. That refund may not arrive until a few weeks into the semester, so plan ahead for rent due before then.

Can Your Cost of Attendance Change?

Sometimes, yes. Life doesn't always fit neatly into a standard budget.

If you have documented expenses beyond the typical COA, you may be able to request an adjustment. Common examples include child care, disability-related costs, or a required computer purchase. The Financial Aid Office can review your situation and explain what documentation you'll need. You can also review the University's financial aid policies.

How Cost of Attendance Shapes Your Borrowing Options

Here's the simplest way to think about it: your COA minus any other aid you receive equals the most you can borrow.

Let's walk through an example. Say your program's COA is $100,000 for the year, and you earn a $10,000 scholarship. That leaves up to $50,000 you could cover with other aid, including loans.

But COA isn't the only limit. Federal loans have their own caps, and those caps changed recently. Under the One Big Beautiful Bill Act, federal Grad PLUS loans are no longer available to new borrowers as of July 1, 2026. Graduate students can now borrow up to $20,500 per two-semester loan period in federal Direct Unsubsidized Loans. New borrowers also face a $100,000 lifetime limit for graduate study.

In our example, a student borrowing the federal maximum of $20,500 would still have a $29,500 gap. That gap might be filled by:

  • Personal savings or family support
  • Additional scholarships or grants
  • Employer tuition assistance
  • Private student loans

If you enroll less than full time, your federal loan amount may also be reduced. Learn more about your options on our loans page.

Just because you can borrow up to your COA doesn't mean you should. Build a realistic budget, and borrow only what you need. Your future self will thank you.

Graduate School Costs: Your Next Steps

Graduate school costs can feel overwhelming at first. Breaking them down makes them manageable. Here's where to start:

  1. Complete the Free Application for Federal Student Aid (FAFSA). It's required for federal loans and many scholarships.
  2. Review your program's COA. Know what's included before you build your budget.
  3. Create a personal budget. Our financial wellness resources include budgeting tips and free money management tools.
  4. Search for scholarships. Every dollar in gift aid is a dollar you don't have to repay.
  5. Talk to the Financial Aid Office. They're here to help you understand your options.

You Don't Have to Figure It Out Alone

Investing in your education is one of the most meaningful decisions you'll make. At Mass General Brigham University, we believe financial questions shouldn't stand between you and a career in healthcare.

The University's Financial Aid Office works with students every day to understand their COA, explore aid options, and plan for what's ahead. Whether you're still exploring degrees and programs or you've just been admitted, we're ready to help.

Ready to take the next step? Request information or apply today.