Determining Your Need

How Financial Assistance Eligibility is Determined

Your financial need is the difference between the cost of attending Keystone College and your expected family contribution. Financial Assistance packages are developed after first determining the expected family contribution (EFC). The types of aid awarded will vary with the individual student’s need and may consist of a combination of grants, scholarships, loans, and work assistance. 

In developing a financial aid package, a basic calculation is used:

Financial Aid Formula

Cost of Attendance (COA)
Your COA is the sum of your Direct and Indirect educational costs while enrolled. Direct Costs are items which are billed to you by the College such as tuition, fees, room, and board. Indirect Costs are additional costs which you may incur while enrolled that do not post to your student invoice such as books, supplies, cost of living, and transportation expenses. The COA also indicates the maximum amount of financial aid which you may acquire and use for the current academic year.  

Expected Family Contribution (EFC)
The expected family contribution is based on several factors that are reported on the Free Application for Federal Student Aid (FAFSA). The EFC takes into account parent and student, and if independent, student’s spouse, taxable and untaxed income, assets, family size, and number of family members enrolled in college. The EFC is used to determine the student’s financial need. It is not necessarily the amount to be paid to the College. 

Student’s Financial Need
At Keystone College, a student’s financial need can be met by a variety of financial aid resources, including federal grants and loans, state grants, college scholarships and grants, and outside scholarships and grants.