FINANCIAL NEED

 

Aid for most financial aid programs is awarded on the basis of financial need. When a student applies for financial aid, the information reported on the FAFSA is used in a formula established by the U.S. Congress. This formula determines the student's and/or family's Expected Family Contribution (EFC), an amount the student and family are expected to contribute toward educational expenses. If the EFC is below a certain amount, the student will be eligible for a Federal Pell Grant, assuming he/she meets other eligibility requirements.

There is not a maximum EFC that defines eligibility for financial aid programs. Instead, the student's EFC is used in an equation to determine financial need:

 

Cost of Attendance at Macomb Community College

 

- Expected Family Contribution (EFC)

 

= Financial Need

Macomb Community College calculates the student's cost of attendance, based on average costs for all students, then subtracts the amount the student and/or family are expected to contribute toward that cost. The resulting figure is the student's financial need. In determining the student's need for aid, the Financial Aid office must first consider other aid, and outside resources the student is expected to receive.

You can calculate your estimated Expected Family Contribution, (EFC), by visiting the following web site: http://www.finaid.org/finaid/calculators/estimate.html