Determining Eligibility
Need-based financial aid is based on two primary factors: your annual cost of attendance and your family’s calculated contribution.
Cost of Attendance minus Family Contribution = Financial Need
Your cost of attendance includes direct charges (tuition, fees, on-campus housing, and meal plan) plus standard estimates for indirect expenses (books, supplies, and transportation to and from home). This budget varies depending on whether you live on campus, off campus, or with family.
Your family’s contribution is determined from your FAFSA, CSS Profile, and supporting documents such as tax returns.
If your legal parents were never married, are separated or divorced, 17³Ô¹Ï also takes into consideration the resources of your noncustodial parent when determining overall financial need. This information is collected from the CSS Profile of your noncustodial parent which is only required one time (generally, your first year or the first year that your parents were in this status). In rare cases, you may request a waiver for the noncustodial parent requirement.
Factors considered in calculating your contribution include:
- Parent income (taxed and untaxed, including business income)
- Parent assets (cash, savings, investments, home equity, business assets, etc.)
- Number of people in your household
- Number of siblings who are also undergraduates in college
- Student income and assets
All students are expected to contribute from summer earnings ($2,650 for first-years) and 25% of their assets annually.
Changes in these factors could impact your financial aid eligibility. For example, families may see a significant change in financial aid eligibility when older children graduate from college, but could also see an increase if a younger sibling begins undergraduate studies.