The four primary types of financial aid that students use to pay for educational expenses are Grants, Scholarships, Federal Work Study, and Loans. There are also waivers and other forms of aid. Federal, state, and most institutional student aid is awarded based on financial need, as determined by the information on your FAFSA.

Calculating your Financial Need

Financial need is calculated by subtracting your expected family contribution (EFC) and any educational resources from the cost of attendance.

Cost of Attendance
An estimate of all your educational expenses that you’ll incur while you attend Granite State College.

Expected Family Contribution
The Expected Family Contribution (EFC) is a measure of your family’s financial strength and resources available to assist with the cost of your education which is calculated from the FAFSA.

Educational Resources
Any anticipated Educational Resources, paid directly to you or to Granite State College on your behalf, is your legal responsibility to report, as they may affect your financial aid eligibility.

Financial Need
Your eligibility for federal and state grants, work study programs, subsidized loans and other financial assistance.

Federal, state and institutional student financial aid is a privilege which created both rights and responsibilities. Review and understand your Rights and Responsibilities associated with being a financial aid applicant, recipient, and a student loan borrower.