Financial Need Determination

Financial need is determined from the information provided on the Free Application for Federal Student Aid (FAFSA). A formula is used to determine your Expected Family Contribution (EFC), which is the amount that you and your family are expected to contribute toward your education. This EFC will be the same, no matter what school you are attending.

The Financial Aid Office developed a cost-of-attendance budget based on Federal Methodology Cost of Attendance Budget guidelines that is composed of your direct and indirect expenses while attending college. To determine your need at Cleary, we use the following formula:

Cost of Attendance (-) EFC = Need

The need figure tells us the maximum amount of aid you may receive in the form of grants, awards, work-study, and loans.

The cost of attendance for programs is based on the number of credits you take per quarter, books, supplies, room, board, and transportation costs. Cleary University uses several different budgets, depending on the student's situation. The Michigan Department of Education uses its own budget to determine eligibility for Michigan Tuition Grant and Michigan Competitive Scholarships.