Financial Aid Offer

If you have unmet requirements, you may receive an estimated financial aid offer. Use the Financial Aid Checklist to assist you with satisfying requirements and receiving your official financial aid offer. Once all requirements have been met, students will be given an official financial aid offer based on their Cost of Attendance, enrollment level, year in college, and other factors. There are two basic types of financial aid; Gift Aid and Self-Help Aid.

Gift Aid is financial aid that does not typically require repayment; it includes Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, and Scholarships
- Gift aid is usually accepted automatically
- Grants are typically based on financial need
- Scholarships can be based on financial need or can be merit-based
Self-Help Aid is financial aid that is earned or that requires repayment; it includes Federal Work Study, Federal Student Loans, and Federal Parent PLUS loans
- Self-help aid may be accepted or declined

When your official offer is packaged, you will receive a financial aid offer notification.

Financial Need

Your financial need is determined by taking your estimated Cost of Attendance (COA), the cost to attend a particular college, and subtracting your Student Aid Index (SAI), as determined by your FAFSA data.

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- Cost of Attendance varies from school to school and is made up of direct costs and indirect costs
- Direct costs are expenses paid directly to the college, such as tuition and fees
- Indirect costs are expenses incurred while in school, such as transportation and personal expenses
Your SAI is calculated by the Department of Education and comes from your FAFSA data

Cost of Attendance – Student Aid Index = Financial Need

Financial Need Example One: