The process that determines a student's financial need by analyzing financial information provided by the student and his or her parents (or spouse, if applicable) on a financial aid form. The need analysis is the first step in applying for financial aid. All students must file a FAFSA (Free Application for Federal Aid) to apply for need-based federal financial aid programs. Some schools, particularly private colleges, also require students to fill out other forms ( see institutional methodologies) for aid funded by that college. For state financial aid programs, the FAFSA may or may not be the only form a student needs to submit. Applicants should always check with state agencies for other forms they may need to complete, such as the CSS/Financial Aid PROFILE at www.collegeboard.org**.
Need analysis is the process of determining a student's financial need by analyzing the financial information provided by the student and his or her parents (and spouse, if any) on a financial aid form. The student must submit a need analysis form to apply for need-based aid. The Need analysis form includes the Free Application for Federal Student Aid (FAFSA). UNT requires the FAFSA.
a systematic method of measuring the ability of the student and his or her family to pay for educational costs, and students eligibility to receive funds from federal, state, institutional, and/or other need-based financial aid programs
The determination of expected student and family contribution toward the cost of education and the consequent amount of financial assistance a student will "need."
A process, based on detailed family financial information, to determine the amount of financial aid a student qualifies for.
The process of determining an individual's ability to pay. When ability to pay is subtracted from the cost of education, the difference is the student's financial need. It is synonymous with "means test".
The process of determining the estimated income student will need to successfully progress through degree (usually required annually).
A congressionally mandated formula that analyzes students' and their parents' household and financial information reported on the FAFSA, to determine a family's estimated ability to contribute to the cost of education. Schools use the resulting EFC (see above) to determine aid eligibility based on the cost of attendance.
A method used to determine EFC and determine financial aid eligibility.
The computation of expected student and family contribution to the cost of an education and consequent "need" for financial assistance; it is based on an analysis of detailed financial information about the income and assets of students, spouse, and family.
A standardized assessment of the financial ability of a student or the student's family to contribute toward educational expenses.
The process of analyzing the information on the aid form to calculate the amount of money the student and parent(s) can be expected to contribute toward educational costs.
a process used to determine how much students and their families can reasonably be expected to pay toward college expenses. Need analysis formulas are updated each year by the federal government and other organizations to reflect changes in the economy.
The process of analyzing the household and financial information on the student's financial aid application and calculating the amount the family can be expected to contribute to educational costs. For the federal student assistance programs, the need analysis system is defined by law and results in a number known as the Expected Family Contribution.
The process of analyzing household and financial information on a student's financial aid application and calculating an Expected Family Contribution (EFC).
The process that determines a student's eligibility to receive financial aid.
A system by which a student applicant's ability to pay for educational expenses is evaluated and calculated. Need analysis consists of two primary components: (a) determination of an estimate of the applicant's ability to contribute to educational expenses; and, (b) determination of an accurate estimate of the educational expenses themselves (cost of attendance).
The method of calculating a family's expected level of financial contribution toward college costs, resulting in an estimate of the amount of financial assistance a student will "need."
A set of financial criteria and standards, established by the U.S. Department of Education and approved by Congress, that is used to determine a student's financial need for need-based programs.
The process used by a college to evaluate an applicant's financial resources and determine how much the student or family can pay toward the cost of the education.
A system used to estimate a student applicant's need for financial assistance to help meet his/her educational expenses.
The computation of expected student and family contributions to the cost of education and consequent need for financial assistance. It is based on an analysis of detailed financial information about the income (and sometimes assets) of student, spouse, parents, and guardians.
Calculation used to determine a student's need for financial assistance for college expenses. The analysis determines the family's ability to contribute to costs compared to the student's cost of attendance.
The process of determining a student's financial need by reviewing information submitted on the FAFSA, the CSS PROFILE, or any other financial aid form.
Method of determining expected student and family contribution toward the cost of education and subsequent calculation of a student's financial need. Need is determined by subtracting the expected family contribution, via the FAFSA, from LLU's established cost of attendance.