Financial Aid and Scholarship Advocacy Lesson. WHAT IS FINANCIAL AID?. Financial aid is funding provided to students to help pay their educational expenses. Financial aid can be used for colleges/universities, community colleges and trade/technical schools.
Cost of Attendance (COA)
= Student’s Financial Need
For example, John wants to attend CSU, Chico where COA is $17,000 per year. His family’s EFC is $10,000.
$17,000-$10,000=$7,000 is John’s Financial Need.
The school will then send an award letter showing what
they will offer in grants and loans if John attends CSUC.