Sep 29, 2023  
Undergraduate Catalog 2022-2023 
Undergraduate Catalog 2022-2023 [ARCHIVED CATALOG]

Determination of Federal Financial Aid Award

A student will be offered an aid package that may consist of grants, scholarships, outside assistance, loans, and/or Federal Work-Study. Cost of Attendance (COA) is the cap on financial aid packages for students receiving federal and/or state aid. Aid eligibility is calculated for each aid program as well as a total aid package.

Federal aid eligibility is calculated using COA, Expected Family Contribution (EFC), and Estimated Financial Assistance (EFA).  

COA is the estimated cost of a student’s educational expenses for a period of enrollment and can be viewed on the Cost of Attendance section of the website.

EFC is derived from the FAFSA using income and asset information. It is used to calculate need-based eligibility for financial aid.

EFA is the combination of financial aid programs (scholarships, grants, tuition assistance, student employment, loans, etc) that makes up an individual student’s aid package.

Financial Need is determined by taking the COA for an enrollment period minus the EFC.

Unmet need is determined by taking the Financial Need minus EFA. In other words, each aid type a student is awarded is considered before eligibility for another type is determined.

Unmet cost is determined by taking COA minus EFA. Unmet cost is used in determining eligibility for non-need based programs such as unsubsidized loans, PLUS loans, and private loans.

Once the EFC and financial need have been determined, the student’s information will be reviewed and aid eligibility is calculated.

Students are responsible for reporting to the Financial Aid Office all assistance received from outside sources, as federal law requires that all outside assistance be considered as a part of the financial aid package. These types of assistance include such aid as Veteran’s Benefits, outside scholarships, military or corporate tuition assistance, vocational rehabilitation, or other state aid. Federal guidelines require that a student not exceed the Cost of Attendance in the amount of aid they receive.

The maximum amount of institutional and endowed aid that can be awarded is tuition, as long as the aid (all types) does not exceed the cost of attendance. Due to federal regulations, scholarships awards may be affected if you are receiving federal and/or state financial aid.

A student’s loan amount is determined as a part of the aid package. A student’s loan eligibility is based on factors that include annual loan limits, unmet need, and federal aggregate limits. In addition, if a student has less than an academic year remaining in the degree program, the loan is prorated, per federal guidelines.

A student who completes the academic requirements for a program but does not yet have the degree is not eligible for further federal aid for that program.


Direct Loan Undergraduate Annual Limits


Subsidized Loans

Total (Subsidized + Unsubsidized)

Dependent Student Completed Hours

0 - 29 $3,500 $5,500
30 - 59 $4,500 $6,500
60 - 89 $5,500 $7,500
90+ $5,500 $7,500

 Independent Student Completed Hours
*Includes dependents with a Parent PLUS loan denial

0 - 29 $3,500 $9,500
30 - 59 $4,500


0 - 89 $5,500 $12,500
90+ $5,500 $12,500

Aggregate Limits

(Lifetime limit on all loans combined)

  Subsidized Loans Total (Subsidized + Unsubsidized)
Dependent Student $23,000 $31,000
Independent Student
*Includes dependents with a Parent PLUS loan denial
$23,000 $57,500