Determining Financial Need

When you apply for federal student aid, the information you report is used in a formula, established by the US Congress, that calculates your Expected Family Contribution (EFC), an amount you and your family are expected to contribute toward your education expenses. If your EFC is below a certain amount, you'll be eligible for a Federal Pell Grant, assuming you meet other eligibility requirements.

There isn't a maximum EFC that defines eligibility for other financial aid programs. Instead, your EFC is used in an equation to determine your financial need:

Cost of Attendance (COA)
– Expected Family Contribution (EFC)
= Financial Need

The financial aid administrator calculates your cost of attendance (COA) and subtracts the amount you and your family are expected to contribute toward that cost If there's anything left over, you're considered to have financial need.

Students financial assistance is awarded on the basis of financial need (except for the Unsubsidized Federal Stafford Loan and Federal Parent Loan Program). Financial need is determined by subtracting Expected Family Contribution (EFC) from the cost of education (expenses for tuition, fees, books, supplies, transportation, and other related expenses). The Expected Family Contribution (EFC) is based on student and parent income,assets, family members, the number of family members in college, and any other necessary or unusual expenses.

Financial Aid
(978) 630-9169