How Financial Need is Determined
The financial information you and your family provide on your Free Application for Federal Student Aid (FAFSA) is analyzed by the federal need analysis processor using federal methodology. Federal methodology is a standard Student Aid Index (SAI) formula created by the United States Congress. It is used by the federal processor to calculate how much individual students and their families are expected to pay for college higher education costs. Financial need is determined by subtracting student cost of attendance from Student Aid Index (SAI). If the SAI is less than “0”, the SAI will be adjusted to “0” for federal aid award calculations.
Financial Need Calculation: Cost of attendance - student aid index = financial need.
Cost of Attendance Table: students and parents can view the Cost of Attendance table which includes tuition and fees, books and supplies, housing, meals, transportation, clothing maintenance and personal items.
| AA/AS | In State (with Parent) | In State | Out of State (with Parent) | Out of State |
|---|---|---|---|---|
| Tuition and Fees | $2,945 | $2,945 | $11,229 | $11,229 |
| Transportation | $2,124 | $2,124 | $2,124 | $2,124 |
| Housing and Meals | $6,057 | $9,252 | $6,057 | $9,252 |
| Books | $1,540 | $1,540 | $1,540 | $1,540 |
| Miscellaneous | $2,394 | $2,394 | $2,394 | $2,394 |
| Total | $15,060 | $18,255 | $23,344 | $26,539 |
| BAS | In State (with Parent) | In State | Out of State (with Parent) | Out of State |
|---|---|---|---|---|
| Tuition and Fees | $3,530 | $3,530 | $11,230 | $11,230 |
| Transportation | $2,124 | $2,124 | $2,124 | $2,124 |
| Housing and Meals | $6,057 | $9,252 | $6,057 | $9,252 |
| Books | $1,540 | $1,540 | $1,540 | $1,540 |
| Miscellaneous | $2,394 | $2,394 | $2,394 | $2,394 |
| Total | $15,645 | $18,840 | $23,345 | $26,540 |
Student Aid Index: this number is calculated with the SAI formulas, which use the information that students provide on the FAFSA and consists of expected parental contribution and/or student's classification as "dependent" or "independent." The federal need analysis formula used by the federal processor to determine the amount of each applicant's student aid index takes into account the family/student income and assets, employment costs, living expenses, taxes and family size. Dependent students must also help to pay their educational costs from their resources, such as savings, prior-prior-year income, benefits, or employment.