When the reports comes back with negative results, the cost of tuition becomes a concern. Funds are given based on financial need and family contribution to a students' education. Federal Methodology is the formula, devised by Congress, that calculates how much contribution a family can allocate for postsecondary education. Dependent students whose parents have assets or those who have no assets, and independent students that have assets or those who have none.
Assets consist of homes, businesses, or anything of monetary value.
Some income is protected in the formula as an allowance and will not be considered as possible contribution for education. This protection is based on living expenses, employment expenses, and federal and state taxes paid. A student budget is based on college expenses minus expected family contribution, and based on those factors, financial need is determined. A contribution of zero can be attributed to family size, dependency status of the student to their parents and family income. I would not take as many classes to balance out work and school, if I did not receive Financial Aid.