Determining Your Financial Aid Eligibility

Determining Your Financial Aid Eligibility

The formula below helps to determine financial aid eligibility or need and is based on the results of your FAFSA. Need is calculated using the following formula:

 

  What it costs to attend (cost of attendance) 
 What your family can contribute (expected family contribution, EFC) 
 =
Your financial aid eligibility
 

 

Families at all income levels can demonstrate financial need based upon their individual circumstances.  Many different programs are available to assist families in meeting the cost of higher education.

Families who demonstrate financial need can receive a package of financial aid which usually includes a combination of gift aid (scholarships and grants) and self-help (loans and employment) to meet the need.

Early Financial Planning!!! Use the Net Price Calculator as a preliminary estimate of federal and institutional aid eligibility.

Awarding Process

Once your FAFSA application has been processed by the Department of Education and you have received a Student Aid Report (SAR) with a valid Expected Family Contribution (EFC), your application will be sent to Western State Colorado University. Prospective students can expect to receive a tentative financial aid award letter at the end of March. Western State Colorado University provides a contingent award to assist you with your future educational investment. Your letter outlines the financial aid that you qualify for based on your FAFSA application. The award is tentative pending verification of selected information.

Verification is a review process verifying the accuracy of your federal financial aid application. If your FAFSA application is selected for verification you and your parent(s) if necessary, will be required to submit federal tax return  transcripts along with any other supporting documentation requested from the financial aid office. The selection process is random if selected by the Department of Education or, if upon review, we believe conflicting information is present. Western State Colorado University is required by law to resolve the conflicting information through the verification process. If your application is selected for verification, the process must be completed prior to receiving financial aid funds.