What is 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
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).
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
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:
In-State Living with Parents: $4,034
In-State Not Living with Parents: $4,034
Books & Supplies:
In-State Living with Parents: $1,400
In-State Not Living with Parents: $1,400
In-State Living with Parents: $3,500
In-State Not Living with Parents: $8,260
In-State Living with Parents: $3,123
In-State Not Living with Parents: $3,123
In-State Living with Parents: $1,000
In-State Not Living with Parents: $1,000
In-State Living with Parents: $13,057
In-State Not Living with Parents: $17,817