Financial Aid Equation: Cost of Attendance - Expected Family Contribution = Need
Based on the information you and your family provided on the FAFSA, a financial aid advisor will be able to calculate your financial aid. You don't need to be low income to qualify, but you do have to demonstrate a need according to a Federal Formula.
Need is the difference between the cost of attendance (budget) and your expected family contribution (EFC).
1. Budget
In order to treat students in like situations equally, standardized budgets are established each year and are applied to applicants in similar situations. Students with similar circumstances will receive the same allowances for rent, food, personal expenses, books, supplies, transportation and fees. Budgets are established by the California Community College Chancellor’s Office. Additional adjustments may be made to the budget for items such as child care, disability related expenses (which are not paid by an outside funding agency), or uninsured medical or dental expenses paid. If you must purchase a computer or supplies required by your program of study in excess of the budgeted amount the Student Financial Services Office is able to adjust your budget. Please use a Professional Judgment Form to apply for all budget adjustments other than child care. Child Care expenses are reported on your Student Information Form (SIF).
California Resident
|
Budget Expenses |
Living with Parents |
Sharing Expenses |
Away from Home |
| Tuition & Fees |
$792.00 |
$792.00 |
$792.00 |
| Room & Board |
$5,805.00 |
$10,170.00 |
$14,535.00 |
|
Books & Supplies |
$1,638.00 |
$1,638.00 |
$1,638.00 |
|
Transportation |
$900.00 |
$1,035.00 |
$1,035.00 |
|
Personal Expenses |
$2,790.00 |
$2,790.00 |
$2,790.00 |
|
Total |
$11,925.00 |
$16,425.00 |
$20,790.00 |
Out of State Students
|
Budget Expenses |
Living with Parents |
Sharing Expenses |
Away from Home |
| Tuition & Fees |
$6,112.00 |
$6,112.00 |
$6,112.00 |
|
Room & Board |
$5,805.00 |
$10,170.00 |
$14,535.00 |
|
Books & Supplies |
$1,638.00 |
$1,638.00 |
$1,638.00 |
|
Transportation |
$900.00 |
$1,035.00 |
$1,035.00 |
|
Personal Expenses |
$2,790.00 |
$2,790.00 |
$2,790.00 |
|
Total |
$17,245.00 |
$21,745.00 |
$26,110.00 |
Tuition is based on 14.5 units @ $26/unit. If you are a nonresident add $191/unit.
2. Expected Family Contribution
The Expected Family Contribution (EFC—located on the upper right hand corner of your SAR; i.e. EFC 0760) is the amount of money you and your family are expected to contribute toward your educational costs for a nine month period. Your EFC is calculated based on the information you reported on your FAFSA. Your financial aid eligibility is the difference between your student budget and your EFC.
3. Packaging financial aid
- Now that you have established your need it is time to calculate an estimated financial aid package.
- One important premise to remember: Funds are limited and often it is not possible to meet the student’s full financial aid eligibility.
- In packaging student aid at MPC, if you qualify for a BOG, subtract that from need. Next, consider Pell Grant (Hint: if you are a California State Resident and have a 0 EFC, your Pell grant will be $5,350. If you are a nonresident with a 0 EFC, the Pell grant will be $5,350). You subtract that from need.
- The need you have left may be filled with other grants, scholarships, loans, and work study that are available from MPC.
4. Financial aid funds are disbursed four times per year
Financial aid funds are disbursed twice per semester. The first disbursement is on the second day of the semester and the second disbursement is during mid-semester. Please check disbursement dates for further reference.
Note: Any outside funding that a student receives must be reported to Student Financial Services. This includes scholarships, child care, book vouchers, grants, food credit, and MPC Departmental funding.