Awards Determination


South Baylo University uses a standard formula to determine your financial need. The elements of this formula are explained below.

Estimated Cost of Attendance - Expected Family Contribution = Financial Need

SBU Estimated Cost of Attendance (COA)

The first component of this formula is your estimated cost of attendance (COA). Your COA is a standard amount used to represent the expected costs to attend one year at SBU. These costs include tuition and fees, averages for room and board, books and supplies, personal expenses, and local transportation expenses. The largest variable is room and board, which will depend on where you plan to live. Click here to be directed to SBU estimated Cost of Attendance.

The COA is an estimated amount used to determine eligibility for financial aid and is not meant to represent the actual expenses for each individual student.

Expected Family Contribution (EFC)

The expected family contribution (EFC) is calculated from the income, asset, and other information that you and your parent(s) provided on the FAFSA application. The EFC is the amount of money you and your family are expected to contribute toward your educational expenses for one year at SBU.

Families are expected to provide their EFC through savings, current income, or financing opportunities. SBU uses the federal government’s formula to determine eligibility for federal, state need based institutional awards.

 

Financial Need

Your financial need is the difference between the cost of attendance and your expected family contribution, which determines the maximum amount of need-based assistance you can receive from federal, state, university, and outside agency sources. SBU is not able to meet 100% of every student's need.

 

Awarding Process

Once your financial need is determined, SBU awards federal, state, institutional aid, loans, and work programs based on general eligibility criteria.

New students: Your budget has been based on the following: we have assumed that you will enroll full time (12 or more quarter units for MSAOM program and 8 or more quarter units for Doctoral program) and your housing budget is based on the housing plans you provided on your FAFSA.

Transfer students: Your budget has been based on the following: we have assumed that you will enroll full time (12 or more quarter units for MSAOM program and 8 or more quarter units for Doctoral program), your housing budget is based on the housing plans you provided on your FAFSA and we have used your academic grade level upon admission to award the Federal Direct Loan.

Continuing students: Your budget has been based on the following: your intended enrollment is based on the answers you provided on the SBU Application and your housing budget is based on the housing plans you provided on your FAFSA. 

Your Financial Aid Award

  • SBU will, within federal, state, and university regulations, award you the maximum amount available from each funding source, without exceeding financial need. For university funds, priority funding is given to those applicants who meet the financial aid priority funding deadlines.
  • Federal funds are awarded based on the result of the federal formula which is stated above.
  • We coordinate any outside resources you may have received with your financial aid award according to federal, state, and institutional policies. Important: If you receive resources that cover tuition and fees from any source that were unknown to the Financial Aid Office when your award was initially determined, your award will be adjusted according to the rules and regulations of the U.S. Department of Education.
  • The total amount of financial aid awarded can never exceed your budget (SBU Estimated Cost of Attendance), regardless of the source of additional funding.
  • For continuing undergraduates: need-based grants are awarded based on the award received in the prior year unless their need is reduced beyond an established threshold. 

Reasons for a Reduction in your Financial Aid Award from the Prior Year

  • Changes in federal, state or institutional aid program eligibility requirements.
  • A reduction in the family size reported on the FAFSA reduction in the number in college reported on the FAFSA.
  • Increase in parent (or student) income significantly beyond a cost of living adjustment.
  • Increase in parent (or student) assets.
  • An appeal was submitted in the prior year to consider projected year income and actual income significantly exceeds the projection.