Determining Your Need-based Aid

Our financial aid program is need-based in that aid eligibility is determined by your expected family contribution and your cost of attendance. The following formula is used to determine whether you are eligible for need-based financial aid:

Cost of Attendance
– Expected Family Contribution (EFC)/Student Aid Index (SAI) & Additional Assistance
= 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 Expected Family Contribution or 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) as of 2024-2025

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).

Expected Family Contribution (EFC)

The Expected Family Contribution (EFC) is a measure of your family’s financial strength and is calculated according to a formula established by law. Your family’s taxed and untaxed income, assets, and benefits (such as unemployment or Social Security) are all considered in the formula. Also considered are your family size and the number of family members who will attend college during the year.

The information you report on your Free Application for Federal Student Aid (FAFSA) is used to calculate your EFC. Schools use the EFC to determine your federal student aid eligibility and financial aid offer.

Note About EFC:
Your EFC is not the amount of money your family will have to pay for college nor is it the amount of federal student aid you will receive. It is a number used by your school to calculate the amount of federal student aid you are eligible to receive.