The financial aid office at your school will determine how much financial aid you are eligible to receive. At University of Massachusetts Global, your One Stop Specialist will assist you through the process. Once you are presented with your financial aid package, you can choose which options you want to use.
The two major factors of determining your award amount are your cost of attendance (COA) and your expected family contribution (EFC). Your COA is estimated by adding up the cost of tuition and fees, room and board if you live on campus (which doesn’t apply at UMass Global), cost of supplies, transportation, an allowance for child or dependent care if needed, costs related to a disability, and other miscellaneous expenses. Your EFC is calculated according to a formula established by law. Factors considered in the formula include your family’s taxed and untaxed income, assets, benefits, family size and the number of members who will be attending college during the year.
Once these two factors are estimated, UMass Global will determine how much need-based aid you can receive by subtracting your EFC from your COA. The final step is to add in how much non-need based aid you are eligible for by taking your COA and subtracting any financial aid you have already been awarded. The product of these outcomes will determine how much money you will receive.
You can always get a head start on estimating your investment by taking advantage of UMass Global’s Financial Aid Net Calculator that is based on the university’s current academic year costs.