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Financial aid eligibility is defined as "the amount remaining after subtracting the expected family contribution and outside resources from the cost of education." Eligibility for most financial aid at Connecticut College is based on "need." The will help you determine how much you might be expected to contribute.
The cost of education includes all items necessary to cover one academic year. Here's a typical student budget:
|Connecticut College Student Budget|
2014 - 2015
|Books & Supplies||$ 1,000|
|Transportation (cost may vary)||$ 400|
Expected family contribution
The information provided on the Free Application for Federal Student Aid (FAFSA), CSS Profile, and other documentation is used by Financial Aid Services to calculate the expected family contribution. The FAFSA is used to determine federal and state eligibility and the CSS Profile is used to determine eligibility for institutional need based aid.
Factors that affect the award are student and parent(s)' income, assets (including trust funds), number in the household and number in college. Income includes all taxable income and non-taxable income such as child support, Social Security benefits, public assistance, earned income credit, and contributions to a tax deferred retirement plan.
Our simple formula to determine need
The difference between the cost of education, expected family contribution and outside resources* is the student's eligibility for financial aid. The College is committed to awarding up to 100% of a student's eligibility, providing deadlines have been met. Awards are usually a combination of grants, loans, and federal work study. Unless otherwise stated, financial aid awards are divided equally between semesters.
|Cost of Education||$ 62,895|
|Minus Family Contribution||15,000|
|Minus Other Resources*||5,000|
|Need/Financial Aid Eligibility||$ 42,895|
*Other resources include such items as: employee tuition benefits, contributions from relatives, etc.