Financial aid programs were established on the premise that the primary responsibility for paying educational expenses rests with the student and his or her family. Students and families who lack the necessary resources to pay these educational expenses are encouraged to apply for financial aid by completing a FAFSA. This information is used to determine your financial aid eligibility. The following formula is used to determine whether you are eligible for need-based financial aid:
Cost of Attendance (COA)
For detailed information on undergraduate or graduate costs: Cost of Attendance
Expected Family Contribution (EFC)
The Expected Family Contribution, or EFC, is the amount that the student’s family is expected to contribute toward the Cost of Attendance (COA). The EFC is calculated based on the information the student provides on the FAFSA.
The difference between the cost of attendance and the expected family contribution (based on FAFSA results) is considered financial need. The Office of Financial Aid and Scholarships will assist students and their families in trying to meet their financial need by offering a combination of grants, scholarships, loans and employment opportunities. Students who have no financial need are eligible to be considered for non-need based scholarships, loans and employment.
Generally, financial aid eligibility is based on the previous year’s income information. If your financial situation has changed substantially during the year or since the completion of the FAFSA, you may submit a Change in Circumstances Appeal for reconsideration of your financial need.