How is financial aid eligibility determined?
The U.S. Department of Education calculates your Expected Family Contribution (EFC) from the information you report on the FAFSA (Federal Application for Federal Student Aid). The EFC is not necessarily the amount of money your family will have to pay for college, but it is the number used by colleges and universities to determine the amount of and types of federal aid you may be eligible to receive.
Your EFC is determined from your household size, base year income (which is 2020 income for the 2022-2023 school year, for example), the number of family members who receive more than half their support from you (independent students) or your parents (dependent students), the number of those family members in college at least half time, and the value of your assets.
You and your family are expected to make a maximum effort to finance college expenses. Financial assistance is meant to supplement that effort.
What if my income has significantly changed since the tax year used on the FAFSA?
If you feel your EFC number is not a true reflection of your ability to contribute to the cost of your education because of special circumstances, contact your Financial Aid Advisor. We may be able to adjust the data that determines your EFC or adjust your Cost of Attendance (COA) budget to better reflect your true need or ability to pay for college. Additional paperwork, time, and documents are required for these processes.