The needs analysis formula is the starting point for determining eligibility for financial aid. Each component of the formula is made up of several factors:

Cost of Attendance -(Minus) EFC =(Equals) Financial Need
  • Tuition & Fees
  • Room & Board
  • Books & Supplies
  • Misc. Expenses
  • Travel
  • Parent Contribution
  • Student Contribution from Assets
  • Student Contribution from Summer Earnings
  • Student Loans
  • Work-Study
  • Federal or State Grants
  • University Scholarship

We start by setting a budget, or Cost of Attendance, for the academic year. Next, we calculate the family's share of college costs called the Expected Family Contribution, or EFC for short. Upon subtracting the EFC from the budget, we are a