Reviewing your Financial Aid Letter

The financial aid letter will provide a breakdown of the anticipated costs for the year, or the Cost of Attendance, minus the financial aid that has been awarded. The estimated family cost to attend is the remaining out-of-pocket amount that is not covered by financial aid and what the family can expect to pay.

Please note that Textbooks and Personal Expenses are estimates based on the average student. Actual amounts may vary.

The direct loan fee will automatically be subtracted from direct loans if they are used.

Learn more about the types of financial aid that may have been awarded to you:




Work-Study/Student Employment

Outside Scholarship tool - list of common websites to search for scholarships

How to Determine What you May Owe for your College Bill

A billing statement is created for each fall semester and spring semester. Usually bills are released by July 15th for fall and by December 15th for spring. To calculate the amount for your billing statement for each semester, first divide the costs and financial aid on your award letter by two to receive a semester amount. You may follow the formula below:

(Tuition + Room + Board + Health Insurance) minus (-) Financial Aid = Balance Due for semester.

Enrollment deposits are added as a credit to the first billing statement generated for your account, which will reduce the balance due.

You may find more details regarding the billing statements within our How To's "Understand your Bill"

If you and your family would like more information on payment options and financing opportunities for the balance due for the semester, you may review our “Billing & Payments” page.

It’s important to remember to:

  • Submit a Health Insurance Waiver on if the Ithaca College health insurance is not needed.
  • Complete items listed in the To-Do Checklist that pertain to your specific student account. You may review your requirements on Homer Connect, by selecting “Financial Aid & Billing” then “Student Eligibility Requirements.”
  • Enroll full-time, which is a minimum of 12 credits, and maintain satisfactory academic progress requirements to receive financial aid.
  • Submit a Part-Time enrollment form if enrolling in less than full-time/12 credits. May result in a reduction or elimination of financial aid. Complete a Part-Time form here.
  • Immediately respond or submit requested information and documentation as requested by our office. Unsatisfied requirements will prevent financial aid from paying to your student account.
  • Notify the Office of Student Financial Services of any outside, independent resources/aid as it may affect your financial aid package from Ithaca College. Complete an Outside Resources Form.
  • Submit your FAFSA annually to be considered for federal and institutional need base aid. Visit