Most Title IV aid is need-based. Need analysis is the process of estimating the amount of assistance a student will require to supplement the resources theoretically available from that student and his or her family. Need analysis has two basic components: first, the estimation of what it will reasonably cost the student to attend a given institution for a given period of time (the cost of attendance or COA), and second, an estimation of the ability of the student and his or her immediate family to contribute to that educational cost (the expected family contribution or EFC). Once COA and EFC have been determined, the financial aid administrator may commence packaging financial aid for the student.
Related topics in this Index: Cost of Attendance; Expected Family Contribution; Packaging; Professional Judgment; Verification
Search or browse the Knowledgebase for answers to regulatory and compliance questions submitted by financial aid administrators.
NASFAA U Authorized Events are a comprehensive set of instructional materials for teaching financial aid concepts to groups of individuals. Materials include a study guide, instructor guide and accompanying presentation slides.
NASFAA U Self-Study Guides are written for the independent learner. Each Self-Study Guide includes multiple lessons with a variety of exercises to reinforce each lesson. Individuals do independent study and take quizzes in a traditional paper format (not online). Then you can qualify to take a test and earn a professional credential.
See top list entry for Cost of Attendance
See top list entry for Expected Family Contribution
See top list entry for Packaging
See top list entry for Professional Judgment
See top list entry for Verification