This brief explores the costs of developing and implementing Student Learning Objectives (SLOs) in order to help Teacher Incentive Fund (TIF) grantees interested in adopting SLOs anticipate and understand the costs of implementing them in a district or school. The brief focuses on the costs involved with the initial design and implementation of an SLO system. The brief begins with an overview of SLOs and the SLO process, then moves to a description of a cost framework developed for this effort. Those sections are followed by a discussion of the costs likely faced by grantees engaged in this work. The discussion of costs is supplemented with actual cost data provided through interviews with two TIF grantees that have gone through the SLO development and implementation process. This brief provides one of the most complete looks to date at the types and magnitude of costs school districts will face when implementing SLOs and demonstrates how the costs will vary by the design and implementation of the SLO process. Total spending by the two TIF grantees for design, implementation, and initial educator training for SLOs was $371 per teacher by Grantee A and $281 by Grantee B, or an average over the two grantees of $309 per teacher (weighted by the number of teachers for each grantee). Finally, the brief offers several conclusions based on the two grantees' experiences. The appendix contains the "SLO Cost Checklist."