What does cost of attendance COA mean? Your eligibility depends on your Expected Family Contribution, your year in school, your enrollment statusand the cost of attendance at the school you will be attending. The financial aid office at your college or career school will determine how much financial aid you are eligible to receive. Your COA is the amount it will cost you to go to school. Most two-year and four-year colleges will calculate your COA to show your total cost for the school year for instance, for the fall semester plus the spring semester. Schools with programs that last a different period of time for instance, an month certificate program might give you a COA fod covers a time period other than a year. Your EFC is an index number that college financial aid staff use to determine how much financial aid you would receive if you were to attend their school. The EFC how much money can you make for fafsa calculated according to a formula established by law. Your family’s taxed and untaxed income, assets, and benefits such as unemployment or Social Security all could be considered in the formula. Also considered are your family size and the number of family members who will attend college or career school during the year. Your ,oney or career school first determines whether you have financial need by using this simple formula:. Need-based aid is financial aid that you can receive if you have financial need and meet other eligibility criteria.
