Determine Need

Before applying you will need to determine the amount of your loan. Consider the following:

Living Expenses

The award letter indicates the maximum amount of funds that you may be eligible to borrow. It is important that you determine the amount(s) you will need to pay for school and to assist you with your living expenses. You can then request up to the maximum amount listed on your award letter. Please note that financial aid programs are not intended to maintain a lifestyle nor are they intended to fund mortgages or credit card debts. Reasonable living expense allowances are based on housing status and include rent, food, and utilities. If you would like to estimate your monthly income and expenses.

Budget Calculator at the direct loan website to create your in-school student budget:
www.ed.gov/DirectLoan/calc.html

Cost of Attendance (COA)

The cost of education is the estimated amount a student will need to cover costs related to attendance at Saybrook University for one academic year of study. The academic year is defined as two Consecutive Semesters of enrollment. The standard budget is constructed by using basic costs of living and tuition and fees for your particular program of study. Check your award letter for your program of study for the cost of attendance breakdown.

Determining your financial aid package

The financial aid package is based on the expected family contribution (EFC) of both the student and spouse’s resources. This amount is determined by a financial needs assessment, which looks at assets, income, family size and number in college. The student’s financial need is the difference between the costs of education minus the expected family contribution. Once the financial need is determined, the student’s financial aid package is produced and it might include Federal Direct Loans, Federal Work Study, and or Saybrook Scholarships or Tuition Assistance. We encourage all students to apply for outside scholarships. We will accept any outside resources and encourage all students to apply for these none institutional resources. For some information on outside resources, please visit our website under financial aid "outside resources."