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Calculating Financial Need

  • How does NJCU determine financial aid packages?

    The Expected Family Contribution (EFC) is a mesure of your family’s financial strength and the resources that should be available to help pay for your education.  The EFC is calculated from the information you report on the FAFSA and according to a formula established by law.  The EFC takes into consideration the financial situation of the family, including household income, number of dependents, number of family members attending college, and assets and investments.

    NJCU calculates financial need by subtracting the EFC from the total cost of attendance (tuition + living expenses).

    Financial Need = Cost of Attendance – Estimated Financial Contribution 

    NJCU accommodates financial need through a combination of grants, campus-based aid, and loans. NJCU is obligated to award grants first, self-help options second, and loans last according to the following hierarchy:   



       Federal Pell Grant
       Federal Supplemental Educational Opportunity Grant (FSEOG)
       Tuition Aid Grant (TAG)
       Academic Competitiveness Grant (ACG)
       National SMART Grant
       TEACH Grant
       Iran and Afghanistan Service Grant
     2)  Self-Help
       Federal Work-Study
     3) Loans
       Federal Perkins Loan
       Subsidized Direct Stafford Loan
       Unsubsidized Direct Stafford Loan
       Parent PLUS Loan

    You can find more information regarding specific program details, annual award amounts and eligibility requirements on the Federal Student Aid website.  Students may also review and/or download the latest version of the Guide to Federal Student Aid document.