Calculating Financial Aid

We use the following equation to calculate your financial need:

Cost of Attendance (COA) - Estimated Family Contribution (EFC) = Need

The Cost of Attendance (COA)

It includes tuition, room/board, personal expenses, books, transportation, and living expenses. Not all of these costs will appear on your bill and can vary for each student, but these figures are used by the Financial Aid Office for awarding.  The cost of attendance is usually higher than your direct costs to allow you to borrow funds for additional expenses. Your financial aid cannot exceed your cost of attendance.

Estimated Family Contribution (EFC)

This figure is generated by the FAFSA, and is the amount of money that the government assumes that you and your family can pay for a year of school. A lower EFC indicates higher financial need. The EFC is the figure we use for the packaging of financial aid, but you can anticipate that your educational expenses will be greater than your EFC.

We try to meet as much of your need as possible with scholarships, grants, loans, and/or work study.

Scholarships   are merit-based awards given by North Park University.

Grants  are need-based awards funded by the federal government, state, and/or university. Scholarships and grants are funds that you do not need to pay back.

Loans  are funds that you (and/or your parent) borrow to help you pay for your education.

Finally, you might be given a work-study job.

Be advised that students seeking a second bachelor's degree are only eligible for student loans.

Calculating financial aid at North Park University