Determining the Student's Financial Need
The Financial Aid Office develops a Cost of Attendance (COA) budget for students that are living off campus or living with their parents, as indicated on the student's FAFSA (Free Application for Federal Student Aid). The Cost of Attendance budget includes the direct expenses of tuition including fees, books and supplies. In addition, COA budgets include allowances for the indirect expenses of transportation, personal expenses and room and board. The COA budget is updated annually. It is important to understand that these figures are averages and each student's actual cost will vary.
The Expected Family Contribution (EFC) is the amount that is calculated from the information on the student's FAFSA. This EFC is the expected amount that a student and his/her parents (for dependent students) can contribute to the student's educational costs. The determining of a student's financial need is determined by this equation:
Cost of Attendance
less Expected Family Contribution
Equals Student Financial Need
If financial need is shown, the student may receive a Pell Grant, Federal Direct Loans or both. Please understand that award amounts may change pending verification.