Cost & Need Formulas
Your aid awards are based on an analysis of the information you provided on your Free Application for Federal Student Aid (FAFSA) and the following aid formulas.
Estimated family contribution (EFC):
Amount of money that your family is expected to contribute to your education. Determined by need analysis as a result of your FAFSA.
Cost of attendance (COA):
The anticipated expenses to attend school that include tuition, fees, housing, transportation, books and supplies and personal expenses.
This figure is set by the Anoka-Ramsey Community College for all students. See Costs and tuition for examples and explanations, and the current estimated Cost of Attendance (COAs.)
Need-based aid eligibility:
COA minus EFC equals need-based aid eligibility
Non need-based aid eligibility:
COA minus need-based aid equals non need-based aid
You are considered for aid according to your need in the following order: scholarships and grants (gift aid), state and federal work-study, subsidized loans, and finally, unsubsidized loans. If you do not qualify for federal, or state funds, you may meet criteria for private loans from a commercial lender.
Sample need-based funds
- Federal and state work-study
- Ford Federal Direct Subsidized Student Loan
- Federal Perkins Loan
Sample non-need based funds
- Ford Federal Direct Unsubsidized Student Loan
- Parent Loan for Undergraduate Students (PLUS)
- Private loans
- Reimbursement programs (e.g., UPS)