Understanding Your Financial Aid Offer
Financial Aid Award
Your Financial Aid Offer lists the financial aid assistance you have been offered toward payment of your tuition, fees, and living expenses. Several factors determine the amount and type of financial aid you are offered, including your financial need, timing of your application, your willingness to accept various types of aid, and availability of funds. The starting point for aid is always Financial Need. Financial Aid is a product of the difference between a college’s Cost of Attendance and your Expected Family Contribution (EFC).
Your award offer may include a variety of award types, including need and non-need based aid from federal, state, and institutional sources. Note that March 2 is the priority application date for California grants. Your award offer may also include other financial assistance offered by the University such as scholarships and tuition waivers. There are two rules to keep in mind:
- Your total need-based aid cannot exceed your financial need.
- Your total aid package (including non-need-based awards) cannot exceed the total Cost of Attendance.
Please note that it is your responsibility to keep the Office of Financial Aid informed of any awards or sources of aid you anticipate receiving that are not listed on your award offer. This will help ensure that you are not in an overaward situation – where you are receiving more funds than what your cost of attendance permits. We may adjust other awards if necessary to avoid an overaward.
To view your financial aid award offer:
- Sign in to MyCSULB.
- Click on the "Finances and Aid" hyperlink located in the "My Menu" section.
- Select "View My Financial Aid.” When viewing your awards make sure the semester(s) for which you have been awarded correspond to your enrollment plans.
If you need additional assistance refer to the Using Finances and Aid guide.
Cost of Attendance (COA)
Your Cost of Attendance, also known as the student budget, is based on the estimated cost of a typical student's registration fees, books and supplies, room and board, transportation, and personal expenses for a nine–month academic year (fall and spring semesters). These budgets include direct university charges (registration and on-campus room and board) and estimates of indirect expenses (transportation, books and supplies, miscellaneous living expenses, and off-campus room and board).
Your COA, or budget, will vary depending on where you live -- on or off campus, or with your parents - and depending on whether you are an undergraduate, graduate, or credential student.
Expected Family Contribution (EFC)
When your FAFSA is analyzed by the Central Processing System of the U.S. Department of Education, a formula is applied to the information you provided. The FAFSA analysis takes into account yours and your family's (or spouse’s) income and some types of assets, and indicates how much money you and your family (or spouse) are expected to contribute toward your cost of attendance for the academic year. This amount is referred to as the “Expected Family Contribution,” or EFC. The EFC determines the types and amounts of federal and state aid for which you qualify.
If you are a dependent student, your EFC may be based on:
- your and your parent(s)' taxable and non-taxable income
- your and your parent(s)' assets
- the age of your older parent living in your household
- the number of family members living in your household
- the number of family members (other than your parents) in college during the upcoming academic year
If you are an independent student, your EFC will be based on:
- your taxable and non-taxable income and your assets (as well as your spouse's, if you are married)
- the number of children and other dependents in your household
- the number of family members in college during the academic year
Financial Need
Financial need, is the difference between the standard Cost of Attendance calculated for the academic year and your EFC.
Your EFC will stay the same no matter which college you attend, because it is the product of a standardized federal formula. You may be eligible for different types and amounts of aid at different colleges, however, because each college has its own Cost of Attendance. The bottom line is:
COA - EFC = Your Financial Need
Your estimated financial aid offer from CSULB will be determined by the formula above. Offers are also estimated based on full-time enrollment. The financial aid you will actually receive is based on need and enrollment; if you are not enrolled full-time, or drop below full-time status, your awards will be adjusted to reflect your correct status/budget.
If you have any questions about how CSULB has determined your estimated award, check your Student Aid Report for your EFC as well as our links to Costs and Types of Aid.
If you have any additional questions, please call us at 562-985-8403, or stop by our office in Brotman Hall, Room 101.