Paying for College

This page contains detailed information about "Paying for College." It includes links and information about:

• Financial Aid
• Federal and State Programs
• Scholarships

Financial Aid:

The cost of attendance generally includes the following: tuition and fees, room and board, books and supplies, transportation and personal expenses.

How is financial need determined?

Today, most financial aid is awarded according to need. Colleges gather information from families about their income and assets and determine what their share of the total costs should be.

A formula, known as the Federal Methodology, is applied to the financial information reported on FAFSA and a result known as the “Expected Family Contribution” (EFC) is produced. The EFC is a result of a needs analysis that is designed to reflect the individual’s family’s “ability to pay.”

After the EFC is determined and reported to the student, the following formula will allow you to calculate the student’s unmet need.

Cost of Attendance of Institution

-    EFC

= Financial Need

-    Financial Aid Awarded

= Unmet Financial Need

For more information on financial aid, please visit the FAFSA Web site.

Federal and State Programs

• Maryland Higher Education Commission
• Federal Grant Programs
• Pell Grant
• Supplemental Education Opportunity Grant (SEOG) Program
• Federal Work Study Program

Scholarships

• Fast Web
• FinAid/ Scholarships
• Hispanic Scholarship Fund
• The Coca-Cola Scholarship Foundation
• Baltimore Community Foundation
• Central Scholarship Bureau
• The Adams Foundation
• The Independent College Fund of Maryland
• College Board