• 5 Steps
• What Is Financial Aid?
• The Application Process
• Where Aid Comes From
• Types of Financial Aid
• Who Is Eligible?
• Cost of Education
• Family Resources
• How To Apply
• Do You Have Enough?
• How To Reduce Unmet Need
• Links

Family Resources

Paying for college is a "family" responsibility. This means that parents as well as students, have an obligation to help pay for college. The amount the family is expected to pay is called the family contribution.

The family contribution is determined by a standard analysis of all family resources. Factors taken into consideration include income, assets and savings, size of the household, and number of children in college. A student's potential summer earnings may also be included in family resources. The family contribution is not an estimate of how much extra money you and your parents have on hand. Rather, it is the portion of educational expenses the federal government believes you and your parents should contribute toward your education.

Some students may be considered self supporting or independent if they are not financially dependent on either parent and if they meet other important criteria. In those cases, only the student's resources (and spouse's if married) will be considered in determining the family contribution.

Note: You must fill out the Free Application for Federal Student Aid (FAFSA) and any other financial aid applications required by the school(s) to which you are applying to determine the exact amount you and your family are expected to contribute toward your education.