To receive aid from student aid programs, you must:
A student’s eligibility for financial aid begins with his or her financial need (except for Unsubsidized Stafford and all
PLUS and Consolidation loans). Financial need/eligibility is the difference between the cost of college and what the student/parents are
expected to pay. Family contribution values are based upon the information
the student provides on the FAFSA. The cost of education includes tuition,
fees, books, food and housing, educational transportation and
miscellaneous personal expenses.
Cost of Education/Attendance - Student/Parent (Family) Contribution = Financial Need
The formula described above is established by Congress.
If your family contribution is below a certain amount, you’ll be eligible
for a Federal Pell Grant, assuming you meet all other eligibility
requirements. Your financial aid administrator calculates your cost of
education and subtracts the amount your family is expected to contribute.
If there is anything left over, you are considered to have financial need.
*The information on this page is based off the information provided in the 2014-2015 Federal Student Aid Handbook.