EVMS School of Health Professions


School of Health Professions Projected Cost of Attendance

Cost of attendance (COA) budgets are set annually for the programs within the School of Health Professions.

Financial aid is disbursed in equal amounts at the beginning of each term. Your actual cost of attendance budget will be viewable when you log into the online financial aid system via your student portal. The cost of attendance budget includes loan fees based on in-state or out-of-state budgets. A student's cost of attendance may be slightly different from what appears on this page based on approved adjustments. Review your budget closely and only borrow what you truly need.

As part of the Higher Education Act, as amended, regulations governing elements were established. Federal regulation requires that all need determinations be based on a single student budget for a program. If you demonstrate unusual expenses, see the guidelines and form to request a budget increase. All requests will be considered on a case-by-case basis within federal regulations.


Biomedical Sciences (Ph.D.) - Cost of Attendance

2025-2026 Biomedical Sciences, Ph.D. Year 1 Biomedical Sciences, Ph.D. Year 2 Biomedical Sciences, Ph.D. Year 3+ Biomedical Sciences, Ph.D. Final Year
Budget length 12 mos. 12 mos. 12 mos. 9 mos.
Tuition* In-state ($486/credit)** $11,664 $11,664 $11,664 $11,664
Out-of-state ($650/credit)** $15,600 $15,600 $15,600 $15,600
Fees* Mandatory (IS) $962 $882 $882 $882
Mandatory (OS) $998 $918 $918 $918
Health insurance $3,204 $3,204 $3,204 $3,204
Subtotal tuition and fees (direct costs) In-state $15,830 $15,750 $15,750 $15,750
Out-of-state $19,802 $19,722 $19,722 $19,722
Other allowances Books and Equipment $150 $150 $150 $150
Room $18,168 $18,168 $18,168 $13,626
Board $6,000 $6,000 $6,000 $6,000
Personal Expenses $1,056 $1,056 $1,056 $792
Transportation $1,740 $1,740 $1,740 $1,305
Cost of attendance without loan fees In-state $42,944 $42,864 $42,864 $36,123
Out-of-state $46,916 $46,836 $46,836 $40,095
Loan fees *** Direct unsubsidized - 1.057% $216 $216 $216 $216
Grad PLUS - 4.228% in-state $949 $946 $946 $661
Grad PLUS - 4.228% out-of-state $1,117 $1,113 $1,113 $828
Total cost of attendance
including loan fees
In-state $44,109 $44,026 $44,026 $37,000
Out-of-state $48,249 $48,165 $48,165 $41,139

*Tuition and fees are subject to change throughout the year.

**Cost of attendance projection for the first year is based on 27 credits (11 in fall, 12 in spring, and 4 in summer). The second year is based on 24 credits (9 in fall, 9 in spring, and 6 in summer). The actual cost of attendance is based on the education plan, which must be updated for any changes during the academic year.

***Loan fees are based on the maximum direct unsubsidized for the graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.

Year 1 disbursements: Two equal installments in fall and spring.

Year 2 disbursements: Three equal installments in fall, spring, and summer.


Biomedical Sciences - Medical (M.S.): One-year program - Cost of Attendance

2025-2026 One-year program
Budget length 9 mos.
Tuition* In-state $15,552
Out-of-state $18,432
Fees* In-state $21,300
Out-of-state $21,860
Health insurance $3,204
Subtotal tuition and fees (direct costs) In-state $40,056
Out-of-state $43,496
Other allowances Books and Equipment $1,656
Room $13,626
Board $4,500
Personal expenses $792
Transportatioin $1,305
Cost of Attendance w/out loan fees In-state $61,935
Out-of-state $65,375
Loan Fees** Direct Unsubsidized - 1.057% $216
Grad PLUS - 4.228% I/S $1,752
Grad PLUS - 4.228% O/S $1,897
Total cost of attendance including loan fees In-state $63,903
Out-of-state $67,488

**Loan fees are based on the maximum direct unsubsidized for a graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.


Biomedical Sciences - Medical (M.S.): Two-year program - Cost of Attendance

2025-2026 Year 1 Year 2
Budget length 9 mos. 9 mos.
Tuition* In-state (I/S) $13,122 $13,122
Out-of-state (O/S) $15,522 $15,522
Fees* I/S Fees $18,633 $18,553
O/S Fees $19,106 $19,026
Health insurance $3,204 $3,204
Subtotal tuition and fees (direct costs) In-state $34,959 $34,879
Out-of-state $37,862 $37,782
Other allowances Books and Equipment $1,130 $1,130
Room $13,626 $13,626
Board $4,500 $4,500
Personal Expenses $792 $792
Transportation $1,305 $1,305
Cost of attendance without loan fees In-state $56,312 $56,232
Out-of-state $59,215 $59,135
Loan fees** Direct unsubsidized - 1.057% $216 $216
Grad PLUS - 4.228% in-state $1,514 $1,511
Grad PLUS - 4.228% out-of-state $1,637 $1,633
Total cost of attendance including loan fees In-state $58,042 $57,959
Out-of-state $61,068 $60,984

*Tuition and fees are subject to change throughout the year.

**Loan fees are based on the maximum direct unsubsidized for the graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.


Biomedical Sciences - Research (M.S.) - Cost of Attendance

2025-2026 Biomedical Sciences - Research Biomedical Sciences - Research
Budget length 12 mos. 12 mos.
Tuition* In-state ($486/credit)** $12,636 $11,664
Out-of-state ($650/credit)** $16,899 $15,600
Fees* Mandatory I/S $940 $860
Mandatory O/S $976 $896
Health insurance $3,204 $3,204
Subtotal tuition and fees (direct costs) In-state (IS) $16,780 $15,728
Out-of-state (OS) $21,079 $19,700
Other allowances Books and Equipment $200 $200
Room $18,168 $18,168
Board $6,000 $6,000
Personal expenses $1,056 $1,056
Transportation $1,740 $1,740
Cost of attendance without loan fees In-state $43,944 $42,892
Out-of-state $48,242 $46,864
Loan fees *** Direct unsubsidized - 1.057% $216 $216
Grad PLUS - 4.228% in-state $991 $947
Grad PLUS - 4.228% out-of-state $1,173 $1,115
Total cost of attendance
including loan fees
In-state $45,151 $44,055
Out-of-state $49,632 $48,195

*Tuition and fees are subject to change throughout the year.

**Loan fees are based on the maximum direct unsubsidized for the graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.


Counseling & Art Therapy - Cost of Attendance

Counseling & Art Therapy Counseling & Art Therapy
Budget length 9 mos. 9 mos.
Tuition* In-state ($1,020/credit) $15,066 $12,636
Out-of-state ($1,394/credit) $34,534 $28,964
Fees* In-state $2,000 $1,920
Out-of-state $2,036 $1,956
Health insurance $3,204 $3,204
Subtotal tuition and fees (direct costs) In-state $20,270 $17,760
Out-of-state $39,774 $34,124
Other allowances Books and article packet $2,500 $2,500
Room $13,626 $13,626
Board $4,6500 $4,500
Personal expenses $792 $792
Transportation $1,305 $1,305
Cost of attendance without loan fees In-state $42,993 $40,483
Out-of-state $62,497 $56,847
Loan fees** Direct Unsubsidized - 1.057% $216 $216
Grad PLUS - 4.228% in-state $951 $845
Grad PLUS - 4.228% out-of-state $1,775 $1,537
Total cost of attendance including loan fees In-state $44,160 $41,544
Out-of-state $64,488 $58,600

*Tuition and fees are subject to change throughout the year.

**Loan fees are based on the maximum direct unsubsidized for the graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.


Health Sciences (D.H.Sc.) - Cost of Attendance

2025-2026 Health Sciences, D.H.Sc. | Year 1 Health Sciences, D.H.Sc. | Year 2 Health Sciences, D.H.Sc. | Year 3
Budget length 12 mos. 12 mos. 9 mos.
Tuition* In-state ($486/credit) $7,290 $7,290 $5,832
Out-of-state ($765/credit) $11,475 $11,475 $9,180
Fees* In-state $5,768 $5,768 $4,646
Out-of-state $5,805 $5,805 $4,676
Subtotal tuition and fees (direct costs) In-state $13,058 $13,058 $10,478
Out-of-state $17,280 $17,280 $13,856
Other allowances Books and equipment $440 $390 $190
Room $18,168 $18,168 $13,626
Board $6,000 $6,000 $4,500
Personal Expenses $1,056 $1,056 $792
Transportation $1,740 $1,740 $1,305
Cost of attendance without loan fees In-state $40,462 $40,412 $30,891
Out-of-state $44,684 $44,634 $34,269
Loan fees** Direct unsubsidized - 1.057%*** $216 $216 $216
Grad PLUS - 4.228% in-state*** $844 $842 $439
Grad PLUS - 4.228% out-of-state*** $1,022 $1,020 $582
Total cost of attendance
including loan fees
In-state $41,522 $41,470 $31,546
Out-of-state $45,922 $45,870 $35,067

*Tuition and fees are subject to change throughout the year.

**Loan fees are based on the maximum direct unsubsidized for the graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.

First-year students will enroll in 15 credit hours over three terms. Second-year students will enroll in 15 credit hours over three terms. Third-year students will enroll in 12 credit hours over two terms. Students who transfer credits into or within the program may have an amended cost of attendance.

Funds will be released in equal disbursements on the eighth day of each term (or the next business day) subject to continued satisfactory academic progress.


Laboratory Animal Science (M.S.) - Cost of Attendance

2025-2026

Laboratory Animal Science | Yr 1

Laboratory Animal Science | Yr 2
Budget length 12 mos. 9 mos.
Tuition* In-state ($486/credit) $8,748 $16,318
Out-of-state ($1,041/credit) $18,738 $13,533
Fees* In-state $829 $829
Out-of-state $847 $847
Subtotal tuition and fees (direct costs) In-state $9,577 $7,147
Out-of-state $19,585 $14,380
Other allowances Books and equipment $2,500 $200
Room $18,168 $13,626
Board $6,000 $4,500
Personal Expenses $1,056 $792
Transportation $1,740 $1,305
Cost of attendance without loan fees In-state $39,041 $27,570
Out-of-state $49,049 $34,803
Loan fees** Direct unsubsidized - 1.057% $216 $216
Grad PLUS - 4.228% IS $784 $299
Grad PLUS - 4.228% OS $1,207 $605
Total cost of attendance including loan fees In-state $40,041 $28,085
Out-of-state $50,472 $35,624

For distance or hybrid programs, your aid will be released on the eighth day of the term (or the next business day). All aid is released initially in as close to equal amounts as possible over the academic year to your student tuition account, subject to.

First-year students will enroll in 18 credit hours over 3 terms. Second-year students will enroll in 13 credit hours over 2 terms.

*Tuition and fees are subject to change throughout the year.

**Loan fees are subject to change for loans first disbursed on or after October 1.


Medical Science (D.M.Sc.)

2025-2026 DMS1
Budget length 12mos.
Tuition* In 91短视频 ($486/credit) $14,580
Out of 91短视频 ($926/credit) $27,780
Fees* In 91短视频 (I/S) $471
Out-of-state (O/S) $489
Subtotal tuition and fees (direct costs) In-state $15,051
Out-of-state $28,269
Other allowances Books and equipment $750
Room $18,168
Board $6,000
Personal Expenses $1,056
Transportation $1,740
Cost of attendance without loan fees In-state $42,765
Out-of-state $55,983
Loan fees*** Direct Unsubsidized-1.057% $216
Grad PLUS - 4.228% in-state $941
Grad PLUS - 4.228% out-of-state $1,500
The total cost of attendance including loan fees In-state $43,922
Out-of-state $57,699

*Tuition and fees are subject to change throughout the year.

**Loan fees are subject to change for loans first disbursed on or after October 1.

For distance or hybrid programs, your aid will be released on the eighth day of the term (or the next business day). All aid is released initially in as close to equal amounts as possible over the academic year to your student tuition account, subject to satisfactory academic progress.


Medical & Health Professions Education (M.M.H.P.E.) - Cost of Attendance

2025-2026 MHPE Year 1 MHPE Year 2
Budget length 12 mos. 9 mos.
Tuition* In-state ($486/credit) $8,748 $6,318
Out-of-state ($817/credit) $14,706 $10,621
Fees* In-state $4,737 $3,442
Out-of-state $5,052 $3,669
Subtotal tuition and fees (direct costs) In-state $13,485 $9,760
Out-of-state $19,758 $14,290
Other allowances Books and article packet $210 $210
Room $18,168 $13,626
Board $6,000 $4,500
Personal Expense $1,056 $792
Transportation $1,740 $1,305
Cost of attendance without loan fees In-state $40,659 $30,193
Out-of-state $46,932 $34,723
Loan fees** Direct unsubsidized - 1.057% $216 $216

Grad PLUS - 4.228% in-state

$852 $410
Grad PLUS - 4.228% out-of-state $1,118 $601
Total cost of attendance including loan fees In-state $41,727 $30,819
Out-of-state $48,266 $35,540

For distance or hybrid programs, your aid will be released on the eighth day of the term (or the next business day). All aid is released initially in as close to equal amounts as possible over the academic year to your student tuition account, subject to.

The MHPE Master's Program covers 31 credits over a 21-month period. First-year students will enroll in 12 credit hours (2023-2024) and 19 credit hours (2024-2025). Second-year students will enroll in 18 credit hours.

*Tuition and fees are subject to change throughout the year.

** Loan fees are subject to change for loans first disbursed on or after October 1.


Medical & Health Professions Education (Ph.D. or Ed.D.) - Cost of Attendance

2025-2026 DMHPE1 DMHPE2 DMHPE3 DMHPE4
Budget length 12 mos 12 mos 12 mos 4 mos
Tuition* In-state ($486/credit) $10,206 $9,234 $7,290 $1,944
Out-of-state ($817/credit) $21,315 $15,523 $12,255 $3,268
Fees*
In-state (I/S) $409 $409 $409 $409
Out-of-state (O/S) $427 $427 $427 $427
Subtotal tuition and fees (direct costs) In-state $10,615 $9,643 $7,699 $2,353
Out-of-state $21,742 $15,950 $12,682 $3,695
Other allowances Books and equipment * $414 $349 $27 $0
Room $16,800 $16,800 $16,800 $5,600
Board $6,216 $6,216 $6,216 $2,072
Personal Expenses $1,056 $1,056 $1,056 $352
Transportation $1,740 $1,740 $1,740 $580
Cost of attendance without loan fees In-state $36,841 $35,804 $33,538 $10,957
Out-of-state $47,968 $42,111 $38,521 $12,299
Loan fees** I/S unsubsidized - 1.057% $216 $216 $216 $116
O/S unsubsidized - 1.057% $216 $216 $216 $130
Grad Plus - 4.228% IS $691 $647 $551 0
Grad Plus - 4.228% OS $986 $914 $762 0
Total Cost of Attendance with Loan Fees In-state $37,748 $36,667 $34,305 $11,073
with Loan Fees Out- of-state $49,170 $43,241 $39,499 $12,429

* includes computer purchase

**Tuition and fees are subject to change throughout the year.

**Loan fees are based on the maximum direct unsubsidized for the graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.


Occupational Therapy (O.T.D.) - Cost of Attendance

2025-2026 OTC1 OTC2 OTC3
Budget length 12 mos. 12 mos. 12 mos.
Tuition* In-state ($486/credit) $19,440 $19,440 $12,150
Out-of-state ($1,255/credit) $50,200 $50,200 $31,375
Fees* Mandatory $848 $848 $848
Comprehensive Fee I/S $159 $159 $159
Comprehensive Fee O/S $177 $177 $177
Health Insurance $3,204 $3,204 $3,204
Subtotal tuition and fees (direct costs) In-state (S) $23,651 $23,651 $16,631
Out-of-state (OS) $54,429 $54,429 $35,604
Other allowances Books and article packet $1,000 $1,000 $1,000
Room $18,168 $18,168 $18,168
Board $6,000 $6,000 $6,000
Personal expenses $1,056 $1,056 $1,056
Transportation $4,716 $4,716 $4,716
Cost of attendance
Without loan fees In-state $54,591 $54,591 $47,301
Without loan fees Out-of-state $85,369 $85,369 $66,544
Loan fees** Direct Unsubsidized - 1.057% $216 $216 $216
Grad PLUS - 4.228% in-state $1441 $1,441 $1,134
Grad PLUS - 4.228% out-of-state $2,743 $2,743 $1,947
Total cost of attendance including loan fees In-state $56,248 $56,248 $48,651
Out-of-state $88,328 $88,328 $68,707

*Tuition and fees are subject to change throughout the year.

**Loan fees are based on the maximum direct unsubsidized for the graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.


Pathologists' Assistant (M.S.H.P.A.) - Cost of Attendance

2025-2026 PATH 1 PATH 2
Budget length 12 mos. 12 mos.
Tuition* In-state $18,954 $18,954
Out-of-state $29,445 $29,445
Fees* In-state $25,8458 $27,765
Out-of-state $26,528 $26,448
Health insurance $3,204 $3,204
Subtotal tuition and fees (direct costs) In-state $48,0031 $47,923
Out-of-state $59,177 $59,097
Other allowances Books and equipment $1,217 $1,217
Room $18,168 $18,168
Board $6,000 $6,000
Personal Expenses $1,056 $1,056
Transportation $1,740 $1,740
Cost of attendance without loan fees In-state $76,184 $76,104
Out-of-state $87,358 $87,278
Loan fees** Direct unsubsidized - 1.057% $216 $216
Grad PLUS - 4.228% in-state $2,354 $2,351
Grad PLUS - 4.228% out-of-state $2,827 $2,823
The total cost of attendance, including loan fees In-state $78,754 $78,671
Out-of-state $90,401 $90,317

*Tuition and fees are subject to change throughout the year.

**Loan fees are based on the maximum direct unsubsidized for the graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.


Physician Assistant (M.P.A.) - Cost of Attendance




2025-2026 PA Year 1 PA Year 2 PA Year 3
Budget length Per term 8 mos. 12 mos. 8 mos.
Tuition* In-state $10,830 $15,777 $10,830
Out-of-state $19,210 $28,815 $19,210
Fees* In-state $22,738 $31,127 $21,066
Out-of-state $23,298 $31,713 $21,486
Health insurance $3,204 $3,204 $3,204
Subtotal tuition and fees (direct costs) In-state $36,772 $50,108 $35,100
Out-of-state $45,712 $63,732 $43,900
Other allowances Books and equipment $1,789 $2,141 $672
Room $12,112 $18,168 $12,112
Board $4,000 $6000 $4,000
Personal Expenses $704 $1,056 $704
Transportation $3,146 $4,719 $3,146
Cost of attendance without loan fees In-state $58,523 $82,192 $55,734
Out-of-state $67,463 $95,816 $64,534
Loan fees** Direct unsubsidized - 1.059% $216** $216 $216
Grad PLUS - 4.228% in-state $1,608** $2,608 $1,490
Grad PLUS - 4.228% out-of-state $1,986** $3,184 $1,862
Total cost of attendance including loan fees In-state $60,347 $85,016 $57,440
Out-of-state $69,665 $99,216 $66,612

*Tuition and fees are subject to change throughout the year.

**Loan fees are subject to change for loans first disbursed on or after October 1. Origination fees are based on 1.059% for unsubsidized and 4.228% for Grad PLUS


Reproductive Clinical Science - Embryology & Andrology (M.S.) - Cost of Attendance

2025-2026 Year 1 Year 2
Budget length 12 mos. 12 mos.
Tuition* In-state ($486/credit) $8,748 $23,674
Out-of-state ($982/credit) $17,676 $30,590
Fees* Mandatory $1,056 $652
Subtotal tuition and fees (direct costs) In-state $9,804 $24,326
Out-of-state $18,732 $31,242
Other allowances Books and Equipment $1,500 $100
Living $18,168 $18,168
Board $6,000 $6,000
Personal Expenses $1,056 $1,056
Transportation $1,740 $4,716
Cost of attendance without loan fees In-state $38,268 $54,366
Out-of-state $47,196 $61,282
Loan fees** Direct unsubsidized - 1.057% $216 $216
Grad PLUS - 4.228% in-state $751 $1,432
Grad PLUS - 4.228% out-of-state $1,129 $1,626
The total cost of attendance including loan fees In-state $39,235 $56,014
Out-of-state $48,541 $63,124

*Tuition and fees are subject to change throughout the year.

**Loan fees are based on a maximum $20,500 Direct Stafford Loan for graduate students and a balance of the projected cost of attendance in Grad PLUS, if applicable with approved credit. Loan fees will be adjusted for those students with scholarships or outside assistance to reflect accurate fee amounts.

The Reproductive Clinical Science - Embryology & Andrology (M.S.) program covers 36 credits over a 24-month period. The first year consists of 20 credits per academic year. The second year is 19 credits per academic year.

For distance or hybrid programs, your aid will be released on the eighth day of the term (or the next business day). All aid is released initially in as close to equal amounts as possible over the academic year to your student tuition account, subject to.


Reproductive Clinical Science - Embryology & Andrology (Ph.D.) - Cost of Attendance

2025-2026 Year 1 Year 2 Year 3
Budget length 12 mos. 12 mos. 8 mos.
Tuition* In-state ($486/credit) $26,100 $24,650 $20,300
Out-of-state ($830/credit) $29,916 $28,254 $23,268
Fees* In-state (I/S) $17,470 $16,511 $13,634
Out-of-state (O/S) $17,785 $16,808 $13,879
Subtotal tuition and fees (direct costs) In-state $43,570 $41,161 $33,934
Out-of-state $47,701 $45,062 $37,147
Other allowances Books and equipment $1,925 $900 $900
Room $18,168 $18,168 $13,626
Board $6,000 $6,,000 $4,500
Personal expenses $1,056 $1,056 $792
Transportation $1,740 $1,740 $1,305
Cost of attendance without loan fees In-state $72,459 $69,025 $55,057
Out-of-state $76,590 $72,926 $58,270
Loan fees** Direct unsubsidized - 1.057% $216 $216 $216
Grad PLUS - 4.228% in-state $2,197 $2,052 $1,461
Grad PLUS - 4.228% out-of-state $2,371 $2,217 $1,597
Total cost of attendance including loan fees In-state $74,872 $71,293 $56,734
Out-of-state $79,177 $75,359 $60,083

*Tuition and fees are subject to change throughout the year.

**Loan fees are subject to change for loans first disbursed on or after October 1.


Surgical Assisting (M.S.A.) - Cost of Attendance

2025-2026 Surgical Assisting | Year 1 Surgical Assisting | Year 2
Budget length 12 mos. 9 mos.
Tuition* In-state $20,703 $13,802
Out-of-state $27,478 $18,319
Fees* In-state $8,475 $6,487
Out-of-state $8,947 $6,749
Health insurance $3,204 $3,204
Subtotal tuition and fees (direct costs) In-state $32,382 $23,493
Out-of-state $39,629 $28,272
Other allowances Books and equipment $1,040 $788
Room $18,168 $13,626
Board $6,000 $4,500
Personal Expenses $1,056 $792
Transportation $4,716 $3,538
Cost of attendance without loan fees In-state $63,362 $46,737
Out-of-state $70,609 $51,516
Loan fees** Direct unsubsidized - 1.059% $216 $216
Grad PLUS - 4.228% in-state $1,812 $1,109
Grad PLUS - 4.228% out-of-state $2,119 $1,3111
The total cost of attendance including loan fees In-state $65,390 $48,062
Out-of-state $72,944 $53,043

*Tuition and fees are subject to change throughout the year.

**Loan fees are based on the maximum direct unsubsidized for the graduate program and the balance of the projected cost of attendance in Grad PLUS, if applicable. Loan fees are subject to change for loans first disbursed on or after October 1.

Year 1 has two equal disbursements at the beginning of each term; year 2 has three equal disbursements at the beginning of each term.