Wondering how the amount of your federal student aid is determined? 
The colleges or career schools you list on your Free Application for Federal Student Aid FAFSA form will use several pieces of information to calculate your aid. So, you ve filed your FAFSAform, and you ve checked your Student Aid Report to be sure all your information is correct , and now you re wondering how that data is used to come up with the list of financial aid for which you re eligible. 

If I meet the basic eligibility criteria for federal student aid, who decides how much money I ll get? 
Here s the short answer : Your eligibility depends on your Expected Family Contribution, your year in school, your enrollment status, and the cost of attendance at the school you will be attending. The financial aid office at your college or career school will determine how much financial aid you are eligible to receive. The financial aid staff starts by deciding upon your cost of attendance COA at that school. They then consider your Expected Family Contribution EFC. They subtract your EFC from your COA to determine the amount of your financial need and therefore how much need - based aid you can get. To determine how much non - need - based aid you can get , the school takes your cost of attendance and subtracts any financial aid you ve already been awarded. If you d like the long answer , keep reading! 

What does cost of attendance (COA) mean? 
Your COA is the amount it will cost you to go to school. Most two - year and four - year colleges will calculate your COA to show your total cost for the school year for instance, for the fall semester plus the spring semester. Schools with programs that last a different period of time for instance, an 18-month certificate program might give you a COA that covers a time period other than a year. If you're attending at least half - time , your COA is the estimate of tuition and fees; the cost of room and board or living expenses for students who do not contr

user: I would like to know what criteria are used to calculate how much aid a student will receive.

assistant: The colleges or career schools you list on your Free Application for Federal Student Aid form will use several pieces of information to calculate your aid.

user: What is need-based aid?

assistant: The following formula is used:Cost of Attendance COA Expected Family Contribution EFC = Financial Need

user: Can you give me an example?

assistant: For example, if your Cost of Attendance is $ 16,000 and you have been awarded a total of $ 4,000 in need-based aid and private scholarships, you can get up to $ 12,000 in non-need-based aid.

user: What exactly is COA?

assistant: Your COA is the amount it will cost you to go to school or your total cost for the school year for instance, for the fall semester plus the spring semester.

assistant: Will you be attending at least half-time?

user: Yes.

assistant: In that case, your COA is the estimate of tuition and fees; the cost of room and board, books, supplies, transportation, loan fees, and miscellaneous expenses including a reasonable amount for the documented cost of a personal computer and other possible expenses.

user: Who calculates need-based aid, the government?

assistant: Your college or career school first determines whether you have financial need.