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.

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, called the 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).

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 as well as costs for the required purchase of a computer may be considered in calculating to 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: