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Student Loan Directory
Determining Financial Aid Eligibility

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Determining your eligibility

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Determining your eligibility To receive federal student aid, you must meet the following requirements: Demonstrate financial need (for need-based programs only). Have a high school diploma or Gener READ MORE
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Can You Do the Math? COA – EFC = NEED Determining Financial Aid Eligibility Your annual Cost of Attendance (COA) is the total amount of money that a college or university calculates is required to attend that specific institution. It usually includes direct costs (such as tuition, books and fees), as well as indirect costs (such as room and board, transportation and other miscellaneous education-related expenses). Generally, financial aid is intended to help bridge the gap between your COA and what you and your family can afford to contribute towards your education. Therefore, your financial aid eligibility is determined by subtracting your Expected Family Contribution (EFC)—as determined by your processed FAFSA application—from your total annual COA at a given school. (Note: Financial aid offices often offer COA estimates and can help answer specific questions regarding tuition, room and board, and other anticipated fees at the college or university you will be attending or are considering.)
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