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2012-13 Financial Aid Information
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Financial Aid Definitions
COA (Cost of Attendance)
COA includes direct (tuition and fees, room and board) and indirect (books and supplies, travel, and personal expenses) costs. You cannot receive more financial aid than your total Cost of Attendance.
EFC (Expected Family Contribution)
EFC is the minimum amount of money you and your family are expected to contribute from current income and assets. The EFC is calculated based on the information you report on the Free Application for Federal Student Aid (FAFSA).
Need
Your calculated Need is the maximum amount of need-based financial aid you are eligible to receive. Note that your Need will usually be covered in part by student loans.
Eligibility
Eligibility for need-based funds is based on your calculated Need. Every college will use this basic formula to calculate your need:
COA – EFC = NEED
The Cost of Attendance (COA) will vary from school to school, therefore, your Need will vary as well.
