Need Determination

Expected Family Contribution (EFC) 

The Expected Family Contribution a measure of your family’s financial strength and is calculated according to a formula established by law. Your family’s taxed and untaxed income, assets, and benefits (such as unemployment or social security) are all considered in the formula. Also considered are your family size and the number of family members who will attend college during the year. A dependent student’s family includes parent and stepparent.

Cost of Attendance (COA)

The Cost of Attendance (COA) is the estimated total cost of attending college for one year. It includes tuition and fees, room, board, books & supplies, personal expenses, and travel expenses.

Need Determination

Upon your admittance to McDaniel College, your completed FAFSA will be reviewed by the Financial Aid Office in order to determine your need for financial assistance.  Decisions regarding your financial need and your expected family contribution (from income and assets) are based upon federal need analysis formulas.

Financial need is defined as the difference between the cost of attendance (COA) and the expected family contribution (EFC).

COA – EFC = need