New EFC try a collection which is used determine students’ and you can families’ monetary energy. A reduced EFC implies a heightened requirement for financial assistance on the the expense of school.
This new calculation having choosing the level of you prefer-built support for which a student is eligible are: Price of Attendance – Asked Loved ones Share = Monetary You need
Brand new EFC is utilized to decide scholar qualification with the you prefer-situated government pupil help apps: Pell features, Sponsored Stafford finance, Extra Instructional Options Provides, Government Work-study and you can Perkins Loans
Price of Attendance depends on personal schools and you can comes with: tuition and you will charge; an allotment getting books, provides, transportation, student loan charges and you can various individual costs; an allotment to have space and you will panel; an allotment to have based worry; realistic costs associated with study overseas (when relevant); and you will an allocation to have expenses linked to a student’s handicap (if relevant).