Determination of Need

In determining financial need, the Office of Financial Aid estimates a student's expenses for a 9-month period (Fall and Spring semesters).  These estimated expenses include tuition and fees, books, supplies, room and board, transportation, and personal expenses. These estimates are called student expense budgets (or the total cost of attendance).

To be considered for federal financial aid, you must complete the Free Application for Federal Student Aid (FAFSA). The information reported by you on this application is used by the U.S. Department of Education to calculate your expected family contribution (EFC).  The formula used to calculate your EFC is established by law and is uniformly applied to all aid applicants.  This formula analyzes a number of factors to determine what you and your family should be able to contribute toward your educational costs, including the following:

An independent student's need is based on the resources of his or her family unit; parental contribution is not considered.

To determine your financial need, the total expected family contribution is subtracted from the student expense budget (the total cost of attendance). The remaining figure represents your maximum eligibility for need-based financial assistance and scholarships. Because of limited funding, a student's total aid package is often less than the amount of financial need determined.  If the total of your awarded financial aid is less than your need, remaining need may be met through other programs, generally through additional borrowing and/or non-need-based employment.  Information about the Federal Parent Loan (PLUS) and other non-need-based educational loan programs is available in our office and at  www.usca.edu/financialaid/loaninfo.html.

In some cases, a student's aid package will require adjustments to avoid an overaward, defined by federal regulations as financial aid in excess of financial need.  Students who receive institutional, state, and/or federal aid and later receive additional aid not considered in the development of the initial award package may receive an adjusted award letter reducing aid as required by law.

The following student expense budgets for 2007-2008 are based on full-time enrollment for the academic year (Fall and Spring semesters). 
 

(For actual costs at USC Aiken for tuition, fees, housing, meal plans, and other expenses, click here.)

Award Notification

If you are awarded financial aid, you will be sent an award letter which will indicate the source(s) and amount(s) of the aid. Click here for important information about your award letter and the terms and conditions of your financial aid award. It is the student's responsibility to read this information and be familiar with the terms and conditions of the financial aid award.

Initially, your awards are made assuming full-time enrollment in USC Aiken credit hours for each semester (12 credit hours for undergraduates and 9 credit hours for graduate students).  If you do not enroll as a full-time student, your award will not be credited to your account without review.  If you attempt to process your financial aid to pay your bill but your registered credit hours are less than the minimums listed on your award letter, you will be unable to use your financial aid to pay your charges.  You should speak with a financial aid counselor regarding your enrollment plans and the effect upon your financial aid. 

You have the opportunity to update your hours of enrollment on your award letter.  If you correct the number of hours on the award letter and return it to us prior to the payment of fees, your financial aid award(s) and hours will be adjusted to permit easy payment via VIP, by mail, or in the USCA Business Services Office.  If you enroll as a less than full-time student, your aid may need to be adjusted to reflect actual lower tuition costs.  If the hours listed on your award letter are correct, you do not need to return the letter to our office.

You may use your financial aid award to pay for study only at the USC Aiken campus. If you will be attending a USC campus other than Aiken, you must contact the Financial Aid Office at that campus for application information.

Failure to enroll will result in the cancellation of your financial aid for that semester or summer session, as well as any subsequent semester or term for which aid was awarded.  Should you drop below half-time status during the semester or term, any future disbursement of either a Stafford or PLUS Loan will be cancelled.