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What is meant by the term “financial need”?

financial need meant term
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What is meant by the term “financial need”?

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Your financial need is calculated using the FAFSA’s EFC and your Cost of Attendance (i.e., tuition, room and board, fees, books, transportation, and miscellaneous expenses). The Financial Aid Office uses the following equation: Cost of Attendance – EFC = Need If need is greater than zero, you are considered to have financial need.

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