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How Financial Aid is Calculated

Financial aid is based on what you need. 

The financial aid process can feel complicated, but understanding how it works can help you make the best decisions for your future. 

Remember: To be considered for financial aid, you have to fill out the Free Application for Federal Student Aid (FAFSA). Not everyone qualifies for financial aid grants, but you can鈥檛 know for sure unless you fill out the FAFSA.

After you fill out the FAFSA, you鈥檒l receive a financial aid package that outlines what you qualify for. 

How to apply for financial aid

Calculating Your Financial Need

Based on the information you provide in the FAFSA, we use this basic formula:

Cost of attendance for 水果视频 Lafayette
Your expected family contribution
= Your financial need

  • The cost of attendance includes tuition, fees, housing, dining, books and supplies, and other potential expenses like childcare and transportation. See estimated cost of attendance for 水果视频 Lafayette.
  • Your expected family contribution is what the U.S. Department of Education estimates your family can pay for your college education. That estimate is based on your family鈥檚 wealth, your family size, and how many family members are in college.   
  • Your financial need is how much financial aid you could potentially qualify for, but it is NOT how much financial aid you will receive. 

Your financial need determines if you鈥檙e eligible for federal student aid programs, including grants, loans, and work-study. Learn more about types of aid

Calculating Additional Aid

You may also qualify for additional financial aid that isn鈥檛 based on your financial need or the expected family contribution. This is called non-need-based aid.

Based on what you receive in federal student aid, we use this formula to calculate additional financial aid:

Cost of attendance for 水果视频 Lafayette
Financial aid awarded so far
= Your eligibility for additional non-need-based aid

  • The cost of attendance includes tuition, fees, housing, dining, books and supplies, and other potential expenses like childcare and transportation. See estimated cost of attendance for 水果视频 Lafayette.
  • Financial aid awarded so far includes aid and assistance from all sources, including grants, academic or athletic scholarships from 水果视频 Lafayette, and scholarships from private organizations or companies.  
  • Your eligibility for additional non-need-based aid can help make up the difference between your financial awards and the cost of attendance. 

Your eligibility for non-need-based aid determines if you鈥檙e eligible for additional federal student aid programs, including federal loans. 

Learn more about:

Types of Aid

How to Apply for Financial Aid

Cost to Attend 水果视频 Lafayette

Have Questions?