It is used to reduce the financial barriers of attending college. Financial aid is intended to supplement family resources.
Financial aid is targeted to assist the neediest families.
Therefore, students must demonstrate the need for funds. In order to determine which students are eligible for aid, the federal government has established a uniform method for calculating a student's financial aid eligibility. Once a campus has evaluated the student's aid application and determined financial aid eligibility, they will send a notification letter, which includes the student's budget, the amount the student's family is expected to contribute, and the types and amounts of financial aid being offered. Financial aid will assist in covering your fees, as well as educationally related living expenses. The cost of attendance varies tremendously depending upon the type of school, as well as any other associated costs such as books and housing.