Understanding Financial Aid Eligibility
Most financial aid, except for student loans, is awarded based on financial need. When you apply for federal student aid, your financial information is assessed using a formula established by Congress. This formula determines your Student Aid Index (SAI)—formerly known as the Expected Family Contribution (EFC).
The SAI represents an estimate of the amount you and your family are expected to contribute toward your education. However, this figure does not necessarily reflect the exact amount you will pay out of pocket.
Determining Financial Need
If your SAI falls below a certain threshold, you may be eligible for a Federal Pell Grant, provided you meet all other federal eligibility requirements.
Unlike Pell Grants, there is no maximum SAI that automatically disqualifies you from other types of financial aid. Instead, your SAI is used to determine your financial need, which is calculated as follows:
Financial Need (FN) = Cost of Attendance (COA) - Student Aid Index (SAI)
Cost of Attendance and Financial Aid Offers
The Cost of Attendance (COA) includes tuition and fees, room and board (food and housing), books, course materials, supplies and equipment, transportation, and personal and miscellaneous expenses. Your total financial need is determined by subtracting your SAI from the COA.
We use this information to create a financial aid offer that may include grants, scholarships, work-study opportunities, and federal student loans. However, due to limited funding, we may not be able to meet 100% of your demonstrated financial need.
Additional Considerations
In evaluating your aid eligibility, we also consider other educational resources you may receive during the academic year, including scholarships, external grants, and tuition assistance programs. Receiving additional aid may impact the total amount of need-based aid you are eligible to receive.
For more details on eligibility requirements, available aid programs, and application deadlines, please visit our Financial Aid Office or refer to the official Federal Student Aid website.