How cost of attendance affects your loan amount
Aside from annual and lifetime limits for different loan programs, there’s one limit that overrides them all: Your school-certified cost of attendance (COA). COA includes tuition, fees, supplies and other general living expenses associated with attending the school, and each financial aid office has their own way of calculating it.
According to federal law, students can’t receive financial aid packages worth more than the COA. This includes loans in addition to grants, scholarships and work-study.