Cost of Attendance - Expected Family Contribution Financial Need

 

A Cost of Attendance budget is established for a student by combining the student’s fixed expenses (tuition, fees, room & board) and estimated variable expenses (books, transportation and other personal expenses). The breakdown of these costs are below:

2019-2020 Undergraduate Estimates                    2019-2020 Graduate Estimates

2020-2021 Undergraduate Estimates                    2020-2021 Graduate Estimates

A formula, a nationwide standard, is used to calculate need and estimate what a family can contribute to the student's education. It is the family and student's primary responsibility to finance their education. The formula considers the following family characteristics to establish the student’s Expected Family Contribution (EFC).

  • Student and/or Parent income,
  • Family size,
  • Assets (Parent/Student), and,
  • Number of family members in college, not including parents.

The Free Application for Federal Student Aid (FAFSA) is used to collect this and other information from student and family. Once established, the EFC is subtracted from the student’s Cost of Attendance in order to establish the student’s Financial Need and ultimately, their eligibility for need-based financial aid.

*While eligibility for some financial aid is not based on financial need (i.e. merit scholarships), a student may never receive financial aid that exceeds the student’s financial need or cost of attendance.*

You may also Estimate your Financial Aid using our calculator:

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Another key factor, beyond financial need, that determines the amount of aid that a student receives in an academic year is availability of funds. Eastern, like many universities, is unable to meet the full demonstrated need of its student body as its institutional funds devoted to financial aid are limited. Therefore, it is very important for students to file the FAFSA by Eastern’s FAFSA Priority Date (March 1), as institutional aid is awarded on a first-come, first-served basis. Late applications are processed, but receive less aid as our institutional funds are depleted.

Regrettably, there is no need-based financial aid available for international students at Eastern. All international students must demonstrate their ability to meet their financial obligations during their stay in the United States before an I-20 is issued. International students may be considered for some merit-based scholarships, for private, alternative loans if they have a credit-worthy U.S. citizen co-signer and for on-campus student employment.