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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 and a total aid package are calculated for each aid program.
Federal aid eligibility is calculated using COA, Student Aid Index (SAI), and Other Financial Assistance (OFA).
COA is the estimated cost of a student’s educational expenses for a period of enrollment and can be viewed in the Cost of Attendance section of the website.
SAI is a number that determines each student’s eligibility for federal student aid based on data from the Free Application for Federal Student Aid (FAFSA).
OFA is the combination of financial aid programs (scholarships, grants, tuition assistance, student employment, loans, etc.) that make up an individual student’s aid package.
Financial Need is determined by subtracting the SAI from the COA. It is expressed as COA - SAI = need.
Unmet need is determined by subtracting the SAI from the COA and specific types of OFA. It is expressed as COA - SAI - OFA = unmet need. Students with remaining unmet need can be reviewed for certain types of need-based aid (subsidized loans, work study, etc.).
Unmet cost is determined by subtracting the SAI from all awarded OFA. It is expressed as COA - OFA = unmet cost. Unmet cost is used in determining eligibility for non-need based programs such as unsubsidized loans, PLUS loans, and private loans.
Once the SAI and financial need have been determined, the student’s information will be reviewed, and aid eligibility will be calculated.
Students are responsible for reporting all assistance received from outside sources to the Financial Aid Office, as federal law requires that all outside assistance be considered as a part of the financial aid package. These types of assistance include 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, scholarship awards may be affected if you receive 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
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Subsidized Loans
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Total (Subsidized + Unsubsidized)
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Dependent Student Completed Hours
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| 0 - 29 |
$3,500 |
$5,500 |
| 30 - 59 |
$4,500 |
$6,500 |
| 60 - 89 |
$5,500 |
$7,500 |
| 90+ |
$5,500 |
$7,500 |
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Independent Student Completed Hours
*Includes dependents with a Parent PLUS loan denial
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| 0 - 29 |
$3,500 |
$9,500 |
| 30 - 59 |
$4,500 |
$10,500
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| 0 - 89 |
$5,500 |
$12,500 |
| 90+ |
$5,500 |
$12,500 |
Aggregate Limits
(Lifetime limit on all loans combined)
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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 |
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