Financial Aid Award Calculation
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Your overall eligibility for financial aid is determined by the following calculation:
Cost of Attendance - Expected Family Contribution (EFC) = Financial Need
The cost of attendance budget for the period covered by the financial aid award is comprised of the following:
- Tuition & Fees
- Room & Board
- Books & Supplies
- Transportation
- Miscellaneous Expenses
These budgets will vary in total amounts depending on the number of hours for which you are enrolled, your class standing and where you plan to live. For the 2009-2010 academic year, a typical full-time,undergraduate budget is:
On-Campus
| On Campus | In State | Out of State |
|---|---|---|
| Tuition & Fees | $4.888 | $14,392 |
| Room & Board | 6,914 | 6,914 |
| Books & Supplies | 1,120 | 1,120 |
| Transportation | 200 | 200 |
| Misc. Expenses | 1,562 | 1,562 |
| Total | $14,684 | $24,188 |
Off-Campus
| Off Campus | In State | Out of State |
|---|---|---|
| Tuition & Fees | $4,888 | $14,392 |
| Room & Board | 10,042 | 10.042 |
| Books & Supplies | 1,120 | 1,120 |
| Transportation | 606 | 606 |
| Misc. Expenses | 1,562 | 1,562 |
| Total | $18,218 | $27,722 |
The Expected Family Contribution (EFC) is calculated by the U.S. Department of Education as prescribed by the United States Congress. The data submitted on the FAFSA is used to determine your EFC. You will see this result printed on the Student Aid Report (SAR) that you will receive after your FAFSA is processed.
Once your need is determined, a financial aid package is prepared from the aid programs that are available. All applicants will be considered for all forms of financial aid available. The criteria for selection will vary with the level of funding for each program, the program guidelines, and your level of financial need.