Financial Aid Eligibility

Requirements

  1. Be enrolled on at least a half-time basis in a degree or certificate program.
  2. Be a U.S. citizen, national, permanent resident, or other eligible non-citizen.
  3. Maintain satisfactory academic progress as defined by the institution.
  4. Not be in default on Federal, Perkins, SLS, or PLUS loans at any institution.
  5. Be registered with the Selective Service, if required by law to do so.

Calculation

Determination of eligibility for need-based aid is calculated annually for all applicants for Federal Loans, Federal Perkins Loans, and Federal Work-Study Programs. Financial need is determined as follows:

Tuition
+ Fees
+ Books (based on previous averages)
+ Student’s living budget (based on statistics from the Labor Bureau)
+ Allowance (to cover the origination fees of a Stafford Loan)
  = Your total educational cost of attendance (COA)

Expected Family Contribution (EFC)—derived from the federal formula which takes into account a portion of your income and assets.

Your total educational COA – EFC = Financial need