Composition of Aid Offer
The composition of an aid offer depends on several factors, including the extent of a student's financial need, eligibility for other aid resources, the availability of funds, and the date of application. Students who have applied for aid are automatically considered for all sources of financial aid, including federal, state, and institutional grants, loans, and employment.
Financial need
°Ä²Ê¿ª½± meets 100% of any student’s demonstrated financial need. Financial need is the difference between the cost of attendance and the expected family contribution.
Student Aid Index (SAI)
The SAI is the eligibility index used to determine eligibility for federal aid (e.g. Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Direct Subsidized Loans , etc.). It is based upon the information provided by the student and their family on the FAFSA.
Expected Family Contribution (EFC)
The Expected Family Contribution (EFC) is based on the information provided on the student's CSS Profile, such as their family’s income, assets, and siblings enrolled in an undergraduate degree program. It is composed of the student contribution and the parent contribution.
The EFC is used to determine eligibility for need-based financial aid from °Ä²Ê¿ª½±. Be aware, the EFC is not the student's bill; rather, the EFC is the expected amount a student's family will pay towards the total estimated cost of attendance for the academic year at °Ä²Ê¿ª½±.
Student Contribution
The student contribution is based on the student's current assets and earnings from an earlier tax year. A minimum contribution is expected of all students.
Parent Contribution
The parent contribution is calculated from the CSS Profile and other documents submitted to apply for financial aid. Parent income, assets, the size of your household, and the number of siblings under age 24 who are enrolled full-time in their first undergraduate degree program are taken into consideration.
In the case of divorced or separated parents, both parents must submit a CSS Profile and each parent's information will be used in the assessment calculation of the total expected family contribution.
Net Price
Net price is the amount that a student pays to attend an institution in a single academic year after subtracting scholarships and grants the student receives. Scholarships and grants are forms of financial aid that a student does not have to pay back. Other resources, such as work-study and loans, are not subtracted to calculate the total net price.
Estimated Cost of Attendance
The Cost of Attendance includes estimates for charges that will be billed by °Ä²Ê¿ª½± as well as estimates for personal costs a typical student will have during the academic year. Billable costs — what °Ä²Ê¿ª½± charges – includes tuition, fees, housing, and food. Non-billable costs (such as personal expenses, books, and travel costs) may vary from student to student, based on their individual circumstances.
Estimated costs do not include the fee for health insurance coverage, which is required for all °Ä²Ê¿ª½± students. If not already covered by health insurance, the student will be billed for health insurance coverage through °Ä²Ê¿ª½±; in either case, families need to cover that cost. Students who feel they may need assistance with the cost of °Ä²Ê¿ª½±'s health insurance should contact the Office of Financial Aid. No provision is made for expenses that are not directly related to college attendance.
Student's Bill
Students are billed on a per semester basis. When reviewing the expected family contribution (EFC), be aware it is likely not what will be owed on the student's bill. The EFC is the expected amount the family will pay overall towards the total estimated cost of attendance (billed and unbilled costs) for the academic year.
Billed expenses may not be even between the fall and spring semesters due to charges occurring in only one semester (such as transcript fees, health insurance, study abroad charges, etc). The Financing Options page provides information on options to meet the EFC.