General Financial Aid Information:
Financial Need is determined by the following calculation:
Cost of Attendance - Expected Family Contribution = Financial Need
Your cost of attendance, determined by your school, includes tuition and fees, room and board, books and supplies, and other school related expenses, such as personal and travel expenses.
Your expected family contribution is what the federal government expects you and your family to contribute toward your educational expenses based on a standard federal formula. Your expected family contribution is:
Calculated when you complete the Free Application for Federal Student Aid (FAFSA).
Not the amount you must pay your school.
Remember: different types of financial aid have different eligibility requirements, award amounts, application forms, and application deadlines, so pay close attention when doing your research.
Federal Student Aid is responsible for managing the student financial assistance programs authorized under Title IV of the Higher Education Act of 1965. These programs provide grants, loans, and work-study funds to students attending college or career school.
To apply for federal student aid, you need to complete the FAFSA or Free Application for Federal Student Aid. Completing and submitting the FAFSA is free and easier than ever, and it gives you access to the largest source of financial aid to pay for college or career school.
In addition, many states and colleges use your FAFSA data to determine your eligibility for state and school aid, and some private financial aid providers may use your FAFSA information to determine whether you qualify for their aid.
If you’re not ready to apply for federal student aid, but you’d like to estimate your aid, try FAFSA4caster.
FAFSA4caster is a free financial aid calculator that gives you an early estimate of your eligibility for federal student aid. This information helps families plan ahead for college. You must use the Free Application for Federal Student Aid (FAFSASM) to apply for aid once you’ve decided to apply for admission and attend college.
For more information about Financial Aid such as Who Qualifies for Financial Aid, Types of Aid, and Understanding/Filing the FAFSA visit: http://www.onlineschools.org/financial-aid/