How to Apply
How Need is Determined
The financial information you and your family provide on your Free Application for Federal Student Aid (FAFSA) is analyzed by the federal need analysis processor using "Federal Methodology,"a standard formula established by the U.S. Congress. It is used by the federal processor to calculate expected family contribution (EFC) — how much individual students and their families are expected to pay toward higher education.
After analyzing your financial information, the federal processor sends the results to the university, indicating how much you and your family should be able to pay toward your education. If the cost of attendance at UF is greater than what the processor indicates you and your family should be able to pay, then the university considers that you have financial need.
For financial aid purposes, need is determined by the following formula:
Costs of Attendance
– Family Contribution
----------------------------
= Need
The following explanations of college costs and family contribution may clarify these terms.
Cost of Attendance
Financial aid must be used only for expenses directly related to your education. College costs include the following: tuition/fees, books and supplies, computer costs, housing, meals, transportation, clothing maintenance, personal, health insurance.
SFA calculates budgets (see 2008-09 Estimated Costs of Attendance) for undergraduate and graduate students, on-campus and off-campus.
Family Contribution
Briefly, parents' contribution + student's contribution = expected family contribution. Family contribution is the amount you and your family are expected to contribute toward your college costs. Your family's total income and financial situation are taken into account in determining financial need.
- Parental Contribution
In determining parental contribution, deductions are made for parents' employment costs; living expenses, such as food, clothing, and housing; and the amount of taxes paid. Also considered are family size, number of family members attending college or other postsecondary schools, number of parents working, and elder parent’s age. In general, parents and students are expected to pay as much of the educational costs as they reasonably can afford.
- Student Contribution
Students are expected to help pay their educational costs from resources they have, such as savings, income, benefits, or employment. After analyzing all student income and assets available, a determination of the student contribution is made. There may be instances when no student contribution is required.
Married couples are considered for aid individually; if both spouses are students, each should apply for financial aid separately. Both spouses are expected to contribute toward joint expenses, regardless of student or employment status.