How Is Financial Aid Awarded to Students?

Students qualify for most financial aid based on their eligibility for individual sources of aid and their financial need: A family's or student's financial need is based on a simple formula:

Financial Need=Cost of Attendance-Expected Family Contribution

An average cost of attendance is calculated for each student based on their program of study and their in-state or out-of-state status. The cost of attendance consists of costs for tuition, fees, room, board, books, travel and other associated educational costs. Expected Family Contribution (EFC): The EFC is calculated through the completion of the FAFSA. This figure reflects the federal estimate of what a family and/or student can afford to contribute toward a year of college.