Our financial aid program is need-based in that aid eligibility is determined by your student aid index and your cost of attendance. The following formula is used to determine whether you are eligible for need-based financial aid:
– Student Aid Index (SAI) & Additional Assistance
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= Financial Need
Per Federal regulations, a student’s financial aid (grants, work-study, loans), scholarships and additional assistance cannot exceed the Cost of Attendance (Cost of Attendance includes Tuition and Fees, Room and Board, Books and Supplies, Personal Expense, and Transportation.)
Financial Need
The difference between the Cost of Attendance and the Student Aid Index & Additional Assistance is considered financial need. Financial Aid Services will assist students and their families in trying to meet their financial need by offering a combination of grants, scholarships, loans, and employment opportunities. Students who have no financial need are eligible to be considered for non-need based scholarships and loans.
Student Aid Index (SAI)
The Student Aid Index (SAI) is a number that determines each student’s eligibility for certain types of federal student aid. An applicant’s SAI is calculated using modified need analysis formulas. These formulas use information that applicants provide on the FAFSA form and, in most cases, federal tax information (FTI) that is retrieved directly from the Internal Revenue Service (IRS).