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How and when will I know how much financial aid I might receive? 

Universities will begin sending new freshmen tentative financial aid award letters in mid-March to early April and will continue doing so on a rolling basis as new financial aid applicants complete their FAFSA forms. The award letter lists the types and amounts of financial aid for which the student qualifies. 
 

How is financial aid awarded to students? 

Students qualify for most financial aid based on their eligibility for individual sources of aid and their financial need. A family’s or student’s financial need is based on a simple formula:

Cost of Attendance - Expected Family Contribution = Financial Need

An average Cost of Attendance is calculated for each student based on his/her program of study, state of residency (in-state or out-of-state), dependency status and housing status. The cost of attendance comprises the combined costs for tuition, fees, room, board, books, travel and other associated educational costs.