FAFSA: Need Determination

How much do I need?

There are several factors that are involved in the cost of college that go beyond just the cost of tuition.  The cost of attendance is calculated over a full academic year, semester or term, not over the entire duration of the schooling process.  The calculation takes into account the following costs:

• Tuition and fees
• Books and related study materials
• Travel costs to and from school
• Room and board

Once you’ve made your calculations, you’ll have a pretty fair estimation of what your school is going to cost for an academic year.  To know what portion of that number will need to be covered by financial aid, you must subtract your EFC or Expected Family Contribution.  Simply put, the amount your family is expected to pay towards the cost of attendance.  What’s left over is the amount that will need to be secured through grants, scholarships or loans.