HOW FINANCIAL AID WORKS
Students can only be considered for aid IF they meet the eligibility Requirements and have submitted either the FAFSA or WAFSA. If you have not done so, the steps to apply are listed on the How to Apply for Financial Aid
How we determine your eligibility
Federal and State aid has their own eligibility requirements,
- Federal Aid - FAFSA Eligibility Requirements
- State Aid - WASFA Eligibility Requirements
Students must also be enrolled at Edmonds College and declare their eligible Program of Study.
Award offer amounts may be affected by how many credits you are enrolled in. Likewise, some types of financial aid do have additional enrollment requirements.
More details can be read on our Eligibility Requirements page.
How Financial Need is determined
In addition to the requirements for the FAFSA and WASFA, most financial aid programs require you to have Financial Need. Your financial need is calculated based on the information you provide on the FAFSA or the WASFA.
- A number called Expected Family Contribution (EFC) is calculated based on the information you provide on the FAFSA or the WASFA
- You receive your EFC from the federal processor or the state after you submit your application.
- The college assigns you a financial aid budget at the time we receive your FAFSA or WASFA. Your budget is also called the Cost of Attendance (COA) and is based on how you answered questions on your application.
Your COA minus your EFC equals your Financial Need
Most types of financial aid do not allow us to offer you more aid than your NEED,
and you cannot
receive more than your COA.
Based on your eligibility for the various types of aid we offer, we try to meet your NEED with a financial aid package that may include:
- Grants (money that does not need to be paid back)
- Student Loans (money that you must pay back after you stop attending school)
- Work Study (money you must earn by working part time as a student)
Important: Some funds are very limited, and we do not guarantee we can offer you everything you are eligible for.