Financial Aid & Scholarship Office, CSU, Chico
Understanding Your Award
Expected Family Contribution (EFC)
When your FAFSA is processed, a formula is applied to the information you provided. Congress established this formula to determine your financial need. The formula takes into account your family’s income and some types of assets. The formula result is the EFC. It indicates how much money you and your family are expected to contribute toward your cost of attendance for the 2008–2009 school year.
Cost of Attendance (COA):
Your cost of attendance is based on the estimated cost of registration fees, books and supplies, room and board, transportation, and personal expenses for a nine–month academic year (fall and spring semesters). These budgets include direct university charges (registration and on–campus room and board) and estimates of indirect expenses (transportation, books and supplies, miscellaneous living expenses, and off–campus room and board).
Financial Need
Financial need is the difference between your cost of attendance and your expected family contribution (EFC).
Financial Aid Award
The amount and type of aid you have been offered are based on several factors: your financial need, the timing of your application, your willingness to accept various types of aid, and the availability of funds. Your award may include need–based aid from federal, state, and institutional sources. It may also include other financial assistance offered by the University such as scholarships and tuition waivers as well as any private scholarships you may expect to receive. Your total need–based aid cannot exceed your financial need. Your total need–based and non–need–based aid cannot exceed the total cost of attendance.