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Financial Aid and EFC
Aid for most of our programs is awarded based on financial need (except for unsubsidized Stafford Loans and PLUS Loans).
The EFC is a measure of your family's financial strength and indicates how much of your and your family's financial resources (for dependent students) should be available to help pay for your education. EFC is calculated from the information you report on the FAFSA.
Your EFC is calculated according to a formula established by law. Your family's income (taxable and untaxed), assets and benefits (for example, unemployment or Social Security) are all considered in determining your EFC. Your family size and the number of family members who will be attending a college or career school are also considered. Your EFC will appear on the Student Aid Report (SAR) you receive after you file your FAFSA.
To be eligible for a Federal Pell Grant, your EFC must be below 3,850 for the 2006-07 award year. This number can vary from year to year.
To determine your financial need for our other federal student aid programs (except for an unsubsidized Stafford Loan), the following is subtracted from your cost of attendance:
- the EFC,
- any Federal Pell Grant amount you're eligible for, and
- other financial aid you'll receive.
The balance, after your cost of attendance is subtracted from your EFC, of your Federal Pell Grant and any other financial aid you will be receiving is your remaining need for other financial aid, including other federal aid.
Determining Your Financial Need
We use and Expected Family Contribution (EFC) number to determine your financial need:
Cost of Attendance
- EFC
- Any Federal PELL
- Other Types of Aid
= Financial Need