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How is financial need determined?

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How is financial need determined?

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Financial Need is defined as the difference between the estimated cost of attendance and the amount you and your family can reasonably be expected to contribute toward your educational expenses.

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First, the data on the FAFSA is analyzed by the federal government to determine the Expected Family Contribution (EFC) from the total family (student and parents or student and spouse if applicable). That number (EFC) is then subtracted from the Cost of Attendance at Morehead State University to determine financial need. Unfortunately, the amount of financial aid you receive will not always meet your total financial need.

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When you complete the Free Application for Federal Student Aid (FAFSA), the federal government sends your FAFSA information to the DeVry Student Finance Office. Our student finance advisors use this information to assess your need.

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Students/families seeking financial assistance should begin the process by completing the Free Application for Federal Student Aid (FAFSA) form. Through detailed information provided on the application, a Student Aid Report (SAR) is issued. The SAR, in turn, is submitted with college applications.

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Federal student aid programs are based on the principle that students (and their parent or spouse, if applicable) are considered the primary source of financial support for postsecondary education. Financial aid is intended to supplement, not replace family resources.

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