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Understanding Financial Assistance
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Financial Assistance, for many students, is an important consideration in the
decision to pursue higher education. The information below is indended to help
you become familiar with the financial assistance process.
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There are two basic types of Financial Assistance:
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Merit:
Based solely on academic achievement, and
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Need-based: Based on a
combination of academic achievement and your family's financial circumstances.
It's important that you do your research and meet any
application deadlines necessary for both types of financial assistance.
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Need-based Financial Assistance is determined by your family's Expected Family
Contribution (EFC).
Your Expected Family Contribution is the calculated amount
your family will be expected to contribute to your college costs, based on your
family's income, assets and characteristics. You might also think of this
amount as your family's "Out-of-Pocket" cost. Knowing your family's EFC will
help you determine your family's need.
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Total Annual Cost of Education
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Expected Family
Contribution
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Need
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Make a friend in the Financial Assistance
Office
We believe that the most valuable resource we have to understand your
family's unique circumstances is a conversation with you. At any time while you
are applying for financial assistance - or if you've been awarded financial
assistance and have questions - we invite you to call, e-mail or stop by our
office.
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 | Scholarship
Resource
Center
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The SRC is our way to connect you with a list of valuable Outside Scholarships from private sources (community organizations, corporations, scholarship foundations and others).
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