The EFC is used in an equation to determine financial need. An estimate of expenses for education such as tuition, fees, room, board, books, supplies, and other related expenses. The amount expected to be available for your educational expenses. The EFC is calculated from income, asset information, household size, and number in college. If you are dependent, the EFC is a student and parent contribution.
Financial aid is disbursed on a semester basis.
The Bursar's Office deducts university charges including tuition and housing. Any remaining funds are refunded to you to use for your other educationally related expenses such as books and food. Direct Loans are disbursed in two equal payments regardless of the length of the loan period. Summer is considered as one semester for financial aid purposes, regardless if you enroll for the first, second, or extended sessions. Nevertheless, you must enroll for all summer sessions prior to the first summer session if you are on financial aid.