How Eligibility is Determined

A simple formula determines need

Financial aid eligibility

Financial aid eligibility is defined as "the amount remaining after subtracting the expected family contribution and outside resources from the cost of education." Eligibility for most financial aid at Connecticut College is based on "need."

FinAid.org and CollegeBoard have calculators that help you estimate how much you might be expected to contribute. We suggest you use the “federal methodology” when estimating your family contribution.

Cost of education

The cost of education includes all items necessary to cover one academic year. Here's a typical student budget: 
 

Expected family contribution 

The information provided on the Free Application for Federal Student Aid (FAFSA), CSS Profile, and other documentation is used by Financial Aid Services to calculate the expected family contribution. The federal methodology is used to determine federal and state eligibility and the college's institutional methodology is used to determine eligibility for institutional need based aid.

Factors that affect the award are student and parent(s)' income, assets (including trust funds), number in the household and number in college.  Income includes all taxable income and non-taxable income such as child support, Social Security benefits, public assistance, earned income credit, and contributions to a tax deferred retirement plan.

Our simple formula to determine need

The difference between the cost of education, expected family contribution and outside resources* is the student's eligibility for financial aid. The College is committed to awarding up to 100% of a student's eligibility, providing deadlines have been met. Awards are usually a combination of grants, loans, and federal work study. Unless otherwise stated, financial aid awards are divided equally between semesters.

*Other resources include such items as: employee tuition benefits, contributions from relatives, etc.

Last Modified: Friday, March 27, 2009 9:07