You and your family are primarily responsible for the cost of your education. Financial aid is intended to supplement you and your family’s resources.
The amount of your contribution is determined according to a standardized “need analysis” formula developed by the federal government. The need analysis formula considers such things as income, assets, taxes paid, and family size. If you are a dependent student based on federal criteria, your parents’ resources are also considered.
After your FAFSA application is submitted online to the Federal Processor, the results are calculated and forwarded to the schools listed on your FAFSA.