What is Financial Aid?

Student financial aid is defined as money received from an outside source to assist the student and/or family in paying for the cost of higher education. Financial aid is available from Northeast State; local, state and federal governments; and private organizations. Financial aid may be awarded based on merit or need. Merit-based aid is awarded based on the recognition of special skills, talents or academic ability. Need-based aid is awarded based on the applicant demonstrating financial need for the award.

Calculation of Financial Need

Cost of Attendance - Total Family Contribution = Financial Need 

Financial need is calculated by determining a student's cost of attendance (i.e. tuition, fees, books, supplies, room and board, personal expenses, and transportation) and then subtracting their total family contribution (i.e. contributions​ from parents/students/spouses income, assets, and other resources).

What is Financial Need?


Financial need is the difference between the cost of attending Northeast State and the family’s ability to pay. The family’s ability to pay is determined by completing the Free Application for Federal Student Aid (FAFSA).
 Filing the FAFSA is a free service that enables a Northeast State student to apply for all types of federal and some state and local student aid. It is also required for Foundation and Diversity scholarships. The application, which collects income and asset information, must be submitted for analysis and computation of the Expected Family Contribution (EFC).

Cost of Attendance

Personal expenses, room and board, and transportation costs are components normally used in calculating the cost of attendance. Costs for dependent care related to a student's educational program, unreimbursed costs related to disability expenses, as well as costs for the required purchase of a computer may be considered in calculating the cost of attendance. All documentation must be submitted to the Financial Aid Office. An example of the typical cost of attendance for two semesters is listed below:

Tuition/Fees:
In-State Living with Parents: $4,034
In-State Not Living with Parents: $4,034
Out-of-State: $15,720

Books & Supplies:
In-State Living with Parents: $1,400
In-State Not Living with Parents: $1,400
Out-of-State: $1,400

Room/Board:
In-State Living with Parents: $3,500
In-State Not Living with Parents: $8,260
Out-of-State: $3,500

Transportation:
In-State Living with Parents: $3,123
In-State Not Living with Parents: $3,123
Out-of-State: $3,123

Personal​:
In-State Living with Parents: $1,000
In-State Not Living with Parents: $1,000
Out-of-State: $1,000

Total:
In-State Living with Parents: $13,057
In-State Not Living with Parents: $17,817
Out-of-State: $24,743