1 Calculating Financial Aid | Carl Sandburg College

Calculating Financial Aid

How much can you receive

 

Determining Financial Aid
The following formula is used to determine whether you are eligible for need based financial aid:

 

Cost of Attendance
- Expected Family Contribution (EFC)
= Financial need

 

Cost of Attendance
The student expense budgets are used to calculate financial aid eligibility as well as to provide students and their families with a reasonable estimate of the cost of attendance at Carl Sandburg College. These student budgets include the allowance for tuition, living costs, books and supplies, transportation, and personal and miscellaneous expenses. These budgets are based on what are considered reasonable but modest, costs after surveying segments of our student population.

 

Expected Family Contribution
Family contribution is the amount students and their families are expected to contribute toward the cost of a student's education. Family contribution is based on total income and assets as reported on the family's U.S. income tax returns, family size, number of family members in college, and an allowance for basic living expenses. You can obtain an estimate of your family contribution by visiting Finaid.com Web site or College Board at http://finaid.com/calculators/finaidestimate.phtml or http://apps.collegeboard.com/fincalc/servlet/efcCalculatorServlet .

 

Financial Need
The difference between the Cost of Attendance and the Expected Family Contribution is considered financial need. The Financial Aid Office will assist students and their families in trying to meet their financial need by offering a combination of grants, scholarships, loans, and employment opportunities.