Student Services

Financial Need Calculation

Most federal financial aid is based on financial need. Using the data collected on the FAFSA, your financial need will be calculated as:

Cost of Attendance
- Expected Family Contribution
Financial Need

Cost of Attendance

Cost of Attendance includes tuition and fees, room and board, books and supplies, transportation and other personal expenses.

Expected Family Contribution

The Expected Family Contribution (EFC) is a measure of your family’s financial strength and resources (for dependent students) that should be available to help pay for your education. The EFC is calculated from the information you report on the FAFSA and a formula established by law. Your family’s income and assets are considered in determining your EFC. Your EFC will appear on the Student Aid Report (SAR) you receive after you apply for the FAFSA.

Estimating your Financial Aid

If you want an estimate of your financial aid award, use the FAFSA4caster.

If it is determined that you do not have financial need, you can still apply for an unsubsidized Federal Stafford Loan or scholarships based on merit. In addition, parents can apply for PLUS loans.

 

 

 

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