Our office calculates a student’s
by subtracting their Expected Family Contribution (EFC) from the Cost of Education (or budget) that we have assigned:
Most aid that we award is
which means that a student must have an adequate amount of need in
order to accommodate the aid awarded. For instance, if a student’s need
equals $10,000, they may receive no more than $10,000 in need-based aid.
Cost of Attendance (Budget) $15,000
- EFC $5,000
= Need $10,000
Need-based aid includes (but is not limited to):
While scholarships and fee remissions are typically not awarded based
upon a student’s EFC or need, they are nonetheless included when
totaling the amount of aid counted towards covering a student’s need.
types of aid (including but not limited to the Federal Stafford
Unsubsidized Loan, the Federal Parent PLUS Loan, Graduate PLUS Loan, and
private loans) do
not require a student to have need. A student may receive such awards even if their original need figure equals zero.
Regardless of the type of aid package a student receives
(all need-based, all non-need-based, or a combination of the two), their
total awards may not exceed their cost of attendance.