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Once admitted to UM your completed FAFSA and CSS / Financial Aid PROFILE will be reviewed to determine your financial need. Decisions regarding how much parents and students can be expected to contribute from their income and assets are based on federal need analysis formulas, the institutional need analysis formulas, and University policies.

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

  • Cost of Attendance (COA): The cost of attendance includes tuition, fees, on and off campus room and board costs, and additional allowance for books, supplies, transportation and personal expenses.
  • Estimated Family Contribution (EFC): The family is expected to contribute to the student’s education. A dependent undergraduate student's family includes parents and/or stepparents. Independent undergraduate students' families include the student and spouse, if applicable. FAFSA and CSS / Financial Aid PROFILE data is used to determine the amount of the family contribution for federal and institutional aid respectively. The family’s financial circumstances are evaluated in a consistent and equitable manner, recognizing special circumstances that alter a family’s ability to contribute to the student’s education
  • Financial Need: Financial need is the amount remaining when the EFC is subtracted from the COA.

    Cost of Attendance - Estimated Family Contribution = Financial Need


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