Cost of Attendance
The Hofstra North Shore-LIJ School of Medicine Cost of Attendance (COA) is re-evaluated annually by the Office of Financial Aid. The COA, or student budget, is composed of actual and approximate costs that students can expect to incur during their academic year. These costs vary based on the year in school and serve as a cornerstone of financial aid packaging.
It is important to recognize that certain COA components are estimates and given individual circumstances, some students may experience costs that are less than those published.
Tuition is evaluated annually and is subject to change from year to year. The tuition rate is the same for in-state and out-of-state residents.
Fees represent costs that support student activities both at the School of Medicine and at Hofstra University.
Room costs are reflective of the costs associated with housing. On-campus costs are set by the University and represent the cost of living in the Graduate Residence Hall. Included in this number are any fees that are charged to the student to reside in graduate housing. Off-campus costs are reached by a local housing assessment conducted each year. The Office of Financial Aid evaluates current rental rates within a 10 mile radius with consideration given to the estimated cost of utilities. When developing off-campus with parent costs, the assumption is that the student will not have to borrow to cover housing costs or, that those costs will be negligible and thus, are set at zero.
Board costs are intended to reflect a reasonable amount that the average student will need in order to eat during the academic year. The Office of Financial Aid – using available data and student input – sets this number each year.
Books and Supplies encompasses educational materials required by the program. This number differs from year to year. A one-time computer allowance is included in all student budgets for the first year; however, budget adjustments can be made up to a predetermined amount at any point (but only once) during the four year course of study.
Personal Expenses are those associated with the average expense of taking care of one's self during the academic year. Clothing, grooming, personal items, and recreational expenses are included in this category. We arrive at a number each year by soliciting input from continuing students and evaluating other economic factors that drive the cost of living in this area.
All students are required to have health insurance; however, the cost is not included in the standard student budget given the percentage of students that purchase insurance through the School of Medicine. Students that choose to purchase an insurance plan should submit a Cost of Attendance Budget Adjustment Request which can be found in the "Forms" section of the website.
Transportation for on-campus students considers the cost to travel to and from academic related activities and those required by the program only. For off-campus students, this cost is considered in addition to the cost of traveling to and from campus (an average distance is used). The Office of Financial Aid uses the Internal Revenue Service's annual standard mileage rate to calculate this component.
Education Loan Fees are charged by the Department of Education with the origination of each Federal loan disbursement. An average amount is included for each year of study.
Licensure Expense (USMLE) includes the expenses associated with sitting for the United States Medical Licensing Exam. Transportation and lodging expenses are included.
Financial aid is not a one-size-fits-all model. Individual circumstances and emergencies may arise that will cause expenses to fall outside of the standard student budget. There is a process to allow for an increase in a student's budget should extenuating circumstances prove costly. A student must provide the Office of Financial Aid with a Cost of Attendance Budget Adjustment Request (found in the "forms" section of this website) and any additional documentation as outlined on the request form or specifically requested by the Office of Financial Aid. Some reasons for an increase in student budget include:
- Medical and dental expenses not covered by health insurance
- Unexpected auto expenses that arise during the course of study
- Expenses associated with purchasing a computer (up to a predetermined amount)
- Costs associated with caring for a dependent
Expenses That Are Not Permitted
Certain expenses can and will not be adjusted. There are no exceptions. They are not limited to, but include the following:
- The cost of purchasing or leasing a new vehicle
- Consumer debt costs, i.e., credit cards
- Costs associated with furnishing off-campus housing
- USMLE preparatory course expenses
- Relocation costs