How Your Award is Calculated

To determine the types and amounts of financial aid a student is eligible to receive, our office must take into account the student’s Student Aid Index (SAI), Estimated Cost of Attendance (COA), and current grade level and merge this information with the federal and state aid program parameters.

Student Aid Index

The Student Aid Index is a measure of your family’s financial strength and is calculated according to a formula established into law by the Department of Education. Your family’s taxes, untaxed income, assets, and benefits such as unemployment are all considered in the formula.  Also considered is your family size (number living in the household). Your SAI is not the amount of money your family will have to pay for college nor is it the amount of federal student aid you will receive. It is a number used to calculate the amount of Federal and State aid a student is eligible to receive.

Estimated Cost of Attendance

The Estimated Cost of Attendance is an estimate of the amount of money required to attend ECU for one year (fall and spring). This amount includes tuition and fees, room and board (meals), books and supplies, transportation, personal expenses, health insurance (if applicable), and a loan fee. Federal and State aid program regulations prohibit awarding and disbursement of aid over the cost of attendance. If you have costs exceeding the estimated amount of expenses due to extenuating circumstances you may wish to submit a Request to Consider Additional Cost. This form is available under our Forms page for the academic year, and will allow us to potentially raise the Cost of Attendance based on the situation. This process does not mean that additional grant funds would be added to an aid package, but it would allow for possible additional loan funds to be obtained or certified to cover that increase.

Unmet Financial Need

Unmet Financial Need is determined by subtracting your SAI from your COA.  Financial need is the maximum amount of need-based aid a student is eligible to receive.