Estimated Financial Assistance

Estimated Financial Assistance (EFA) is the estimated amount of assistance for a period of enrollment that student (or Parent on behalf of a student) will receive from Federal, State, institutional, or other sources, such as scholarships, grants, net earnings from need-based employment, or loans. EFA does not include those amounts used to replace the expected family contribution (EFC). However, if the sum of the amounts received that are being used to replace the EFC exceed the EFC, the excess amount must be treated as EFA.

Note: The University’s institutional research awards are not EFA because: the award is not considered a payment toward institutional charges or educational expenses included in the cost of attendance (COA); the award is not processed through a student’s account or posted to a student’s ledger; and the award is not contingent upon a student’s enrollment at the University. Students are encouraged to seek assistance from outside resources. However, if, at any time during the award period, a student receives additional EFA that was not considered in calculating the student’s eligibility, and if the additional EFA combined with the expected financial aid exceeds the student’s need, the amount in excess of the student’s need is considered an overaward.

The University’s treatment of overawards in the Direct/Direct PLUS programs depends on whether the loans have been fully disbursed.

If the University discovers there’s going to be an overaward before the Direct Loan funds are disbursed, the University will eliminate the overaward through the packaging process by canceling/reducing the Direct Loan, or by canceling/reducing aid over which the University has direct institutional control.

If the University discovers the overaward situation after the Direct Loan funds are disbursed, there is no Direct Loan overaward that needs to be addressed.