Financial Need

All need-based awards require the student to be degree-seeking, demonstrate financial need and maintain satisfactory academic progress (SAP). The number of credit hours enrolled also affects the types and amount of need-based aid awarded. 

To determine a student's financial need, the student must complete the FAFSA. Need for financial aid is determined by the following calculation:

  COA - EFC = Need

COA (Cost of Attendance) is the total price of attending college. The COA consists of direct and indirect costs. Direct costs are what is paid directly to the college (such as tuition and fees; as well as room and meals if living on-campus). Indirect costs are expenses not paid directly to the college (such as books and supplies, transportation, and personal expenses). 

The EFC (Expected Family Contribution) is a formula calculated by the U.S. Department of Education upon completion of the FAFSA. Factors taken into consideration include, but are not limited to family size, number of students in college, income, and assets. For more information visit https://studentaid.ed.gov/sa/.

Students may begin filing the FAFSA October 1 for the following academic year, (this may be completed online or through the myStudentAid app). Students should list Hood College (school code 002076) on the FAFSA. The FAFSA must be submitted by our priority date of March 1 to be considered for fall types of need-based aid.