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 Calculated need is the difference between a student’s educational cost and the Expected Family Contribution (EFC). In order to be eligible for need-based aid, students must have calculated need.
The EFC is the amount the student and his or her parents are expected to provide as determined by the evaluation of financial and other information. A financial aid award package cannot exceed the calculated need.  The Free Application for Federal Student Aid (FAFSA) and federally legislated formulas are used to determine eligibility for federal financial aid. There is no minimum student contribution in the federal calculation. Eligibility for University grant funds is determined using information from the CSS PROFILE and calculations based on the CSS Institutional Methodology (IM), with some standard University modifications. Family income is only one of several factors that go into this determination. Others include the number of household members, the number of siblings (or certain other household members) attending college as undergraduates, and the financial assets of both student and parents. University calculation of total income usually excludes certain losses and includes certain types of tax-deferred income. These calculations have proven over the years to provide an equitable and reasonable assessment of parents’ ability to contribute to educational expenses. IM: What Is It? explains the calculation of an expected family contribution and provides detailed information about the Institutional Methodology. The EFC consists of:
The College Board maintains an EFC Calculator to help you estimate how much your family will be expected to contribute. Initial calculations may be revised, based on actual tax return information. Standard adjustments to institutional methodology (IM) formulas, made in accordance with University policy, may also affect your calculated need.  Students whose need does not change substantially and who meet all other eligibility criteria can expect their aid to be renewed in subsequent years. Changes in family financial circumstances, such as income and/or the number of household members attending college, will affect financial need and eligibility for aid. Because the number of children in college substantially reduces the amount expected for each child, changes in this number will usually result in significant differences in financial aid awarded. The type and amount of future aid will depend on your calculated need and available funds.
Families are responsible for covering the difference between the total cost of attendance and total financial aid. They must plan adequately for this expense before students arrive on campus. For additional information see Evaluating Your Situation
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| Office of Financial Assistance | 881 Commonwealth Ave. | Boston, MA 02215 | Phone:617-353-2965 | Fax:617-358-2792 |