The qualification for need-based financial aid programs is determined by the cost of attending a college of the student’s choice, minus the amount that the student and his/her family can reasonably afford.
Cost of Education
- Expected Family Contribution
= Financial Aid Eligibility (or "Need")
The Expected Family Contribution is the amount that you and your family are expected to contribute toward your education. For a dependent student, the need analysis formula utilizes the parents’ income and assets (excluding home equity), savings, taxes, and other mandatory living expenses to determine the parents’ contribution. All students (dependent and independent) will have a student’s contribution which is derived by analyzing the student’s income and assets. The formula for calculating the expected family contribution also takes into consideration parents’ ages, number of family members, and number of family members in college.
In addition, a student must be maintaining Satisfactory Academic Progress in order to continue receiving financial aid. For more information, select Satisfactory Academic Progress Rules.
Select the web page indicated below for more information about financial aid, calculators to estimate your family contribution, estimating your college costs, information about educational loans, government information, scholarship information, financial planning, etc.
FinAid: The Financial Aid Information Page - Sponsored by the National Association of Student Financial Aid Administrators (NASFAA).