2015–16 Standard living budget
Estimating expenses and formulating realistic budgets are important tasks. A careful assessment of total resources measured against total costs is the cornerstone of sound financial planning. Although actual living expenses will depend on lifestyles, standardized budgets are used to determine aid eligibility.
The following budget represents average expenses of a master's student for the2015–16 academic year (September–May). This budget is based on a moderate cost of living in the Cambridge area. The housing portion of the budget assumes shared occupancy of a two-bedroom unit in the surrounding community. Married students and students with dependents should anticipate higher living expenses.
| Housing | $11,315 |
| Food | $4,140 |
| Books and Supplies | $1,204 |
| Personal | $4,608 |
| Total Living Expenses | $21,267 |
The standard living expense budget is added to the cost of tuition and fees to determine a student's total cost of education. Financial aid funds are not intended to supplement expenses of family members; however, there are some exceptions that can be made to increase the budget including dependent care costs and rent. Please contact the Financial Aid Office for more information. Please note that eligibility for institutional and federal funds requires that a single student budget be used, as federal funds are generally reserved for expenses that the individual student incurs for his or her educational program.
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