Eligibility for Need-Based Aid

Financial aid is any grant, scholarship, loan, or paid employment offered for the express purpose of helping a student meet educationally related expenses. How much financial aid a student will receive is calculated in the following manner:

1. The budget for a student’s academic year living and educational expenses is determined, taking into account factors such as residence, enrollment, and dependence.
2. The expected contribution by the student and family toward the student’s yearly expenses is determined through a federal formula.
3. The resources contributed by the student and family are subtracted from the budget, and the remaining amount is referred to as the student’s "financial need."