Financial Need Calculation

Most federal financial aid is based on financial need. Using the data collected from the FAFSA, your financial need will be calculated as:

Cost of Attendance – Expected Family Contribution (EFC) = Financial Need

Cost of Attendance

Cost of Attendance (from College Catalog) includes tuition and fees, room and board, books and supplies, transportation and other personal expenses.


FRESHMAN/SOPHOMORE

Florida Residents Non Residents
  Living
with Parents
Living
on their own
Living
with Parents
Living
on their own
Tuition and Fees 2,593 $2,593 $9,722 $9,722
Books/Supplies 1,220 $1,220 $1,220 $1,220
Room and Board 2,000 $5,920 $2,000 $5,920
Transportation Expense 2,416 $2,416 $2,416 $2,416
Miscellaneous/Personal 1,112 $1,823 $1,112 $1,832
TOTAL ESTIMATED COST $9,341 $13,972 $16,470 $21,101

 

       

JUNIOR/SENIOR

Florida Residents Non Residents
  Living
with Parents
Living
on their own
Living
with Parents
Living
on their own
Tuition and Fees $2,958 $2,958 $11,087 $11,087
Books/Supplies $1,220 $1,220 $1,220 $1,220
Room and Board $2,000 $5,920 $2,000 $5,920
Transportation Expense $2,416 $2,416 $2,416 $2,416
Miscellaneous/Personal $1,112 $1,823 $1,112 $1,823
TOTAL ESTIMATED COST $9,706 $14,337 $17,835 $22,466

Expected Family Contribution

The Expected Family Contribution (EFC) is a measure of a student’s and his or her family’s financial ability and resources may be available to help pay for the student’s education. The EFC is calculated from the information you report on the FAFSA and a formula established by law. Your family’s income and assets are considered in determining your EFC. Your EFC will appear on your Student Aid Report (SAR) you receive after you apply for financial aid via the FAFSA.

Estimating Your Financial Aid

If you want an estimate of your financial aid award, use the Net Price Calculator.

Colleges must include all funding resources as part of a student’s financial aid package. Resources may include federal and state grants, scholarships, waivers, certain veterans benefits, AmeriCorps, Federal Work Study, loan, and any other educational benefits paid to cover educational expenses based on your enrollment.

If it is determined that you do not have financial need, you can still apply for an unsubsidized Federal Direct Loan or scholarships from SFSC based merit. In addition, parents can apply for PLUS loans.

The Federal Student Aid website offers an online Financial Aid Wizard that provides an overview of the financial aid process.