Need
Financial need is the number that results when the student's Expected Family Contribution (EFC) is subtracted from the Cost of Attendance (COA). In the following example the student's estimated cost for tuition, fees, books, housing, meals and personal expenses totals $30,000 for one academic year.
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$ 30,000
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COA
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–
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$ 5,820
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EFC
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=
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$24,180
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Need
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In this example the student is eligible for a maximum of $24,180 in financial aid that is based upon need.