Calculating Financial Aid Eligibility

Students often wonder how the Financial Aid and Scholarship Office determine eligibility for grants and loans. The calculation used is one mandated by the federal government. It takes into account several factors, the most important being:

Family size

Number in college

Income

Taxes paid

Assets (does not include equity of primary home)

These factors are considered in a series of calculations and the result is the EFC or Expected Family Contribution. This EFC figure represents the amount the federal government has determined that a student (and his/her family, if parental information is required, or the student is married) should be able to contribute toward the cost of education for a nine month period, including living expenses.