To prepare a student's financial aid award, the Student Financial Services Office subtracts the Expected Family Contribution (EFC) as calculated from the information provided on the student's FAFSA, from the estimated cost of attendance, often referred to as the student budget, to determine financial need.
Following are sample student budgets for the 2014-15 nine-month academic year for full-time students, undergraduates enrolled for 12-20 credits, and graduate students enrolled for 6 credits:
*Because enrollment requirements and tuition rates for graduate students vary program-by-program, actual tuition and book costs vary widely from this sample budget.
After financial need has been determined, Student Financial Services prepares a financial aid award, including as much aid as as the student is eligible to receive within the constraints of both the student's need and the availability of funding. Depending on a student's eligibility, a financial aid award will include one, some or all all of the following types of aid: scholarships and/or grants, work opportunities and loans.
A student can see the costs and EFC used to prepare his or her financial aid award by logging on to SUOnline and clicking "My Cost of Attendance/Estimated Family Contribution" in the "Financial Information" category of the Student Menu.