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Financial Aid

Determining Your Cost

A Missouri Western education is an important part of your future. It is important to understand the financial obligation associated with your education and also what opportunities for assistance are available to help meet that obligation.

Eighty seven percent of first-time, full-time freshmen at Missouri Western receive grant or scholarship assistance.

Cost and Budget Worksheet

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Federal Net Price Calculator

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FAFSA4Caster

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Determining Expected Family Contribution and Financial Need

To determine your financial need for assistance, Missouri Western begins by assigning you a Cost of Attendance budget in accordance with Federal regulations. This budget includes more than just the charges you see on your bill for tuition, fees, room, and board. Allowances for books and supplies, transportation expenses, living expenses, etc. are also built in.

Next, we subtract your Expected Family Contribution (EFC). Your EFC is determined by a formula created by the Federal Government that takes into consideration your family income, assets, number in the household, number in the household attending college, and the age of the older parent. In other words, your EFC is determined by your FAFSA results.

Then, we subtract the assistance you are expected to receive from ALL sources.

Cost of Attendance (COA) Budget
-Expected Family Contribution (EFC)
Financial Need
- All Sources of Assistance
Remaining Unmet Financial Need

Using guidelines established by the U.S. Department of Education, Missouri Western Financial Aid Administrators put together a financial aid package that comes as close as possible to meeting your need. Because funds are limited, the actual amount awarded may fall short of the amount of unmet need you have.

Example:

$18,605 Cost of Attendance Budget
- $200 EFC (Determined by FAFSA Results)
= $18,405 Financial Need
- $5,580 Pell Grant (Based on EFC – Max $5,645/Year )
- $1,000 State Grant
- $5,500 Stafford Loan ($5,500 Freshman Max Per/Year)
- $1000 Missouri Western Scholarship
- $1000 External Scholarship
= $4,325 Remaining Un-Met Need (Out Of Pocket Expense)

 

The Student Guide, provided by the U.S. Department of Education, provides more guidance on the calculation of Expected Family Contribution, Financial Need, and General Eligibility requirements for Federal Student Aid.

2014-15 Cost of Attendance Budgets for Full-Time Students

Remember, your cost of attendance budget includes more than just the charges you see on your bill for tuition, fees, room, and board. Allowances for books and supplies, transportation expenses, living expenses, etc. are also built in.

Keep in mind that this budget IS NOT representative of your direct cost of attending Missouri Western. To estimate your actual cost, please complete the Missouri Western Budget Calculator.

Full-Time Undergraduate Cost of Attendance – Missouri Resident
Missouri Residents Living at Home All Other Housing
Tuition & Fees $6,790 $6,790
Room & Board $2,000 $8,350
Books & Supplies $800 $800
Loan Fees $65 $65
Travel $1,000 $1,000
Personal/Miscellaneous $1,600 $1,600
Total $12,255 $18,605
Full-Time Undergraduate Cost of Attendance – Non-Resident
Non-Residents Living at Home All Other Housing
Tuition & Fees $12,420 $12,420
Room & Board $2,000 $8,350
Books & Supplies $800 $800
Loan Fees $65 $65
Travel $1,000 $1,000
Personal/Miscellaneous $1,600 $1,600
Total $17,885 $24,235
Graduate Cost of Attendance
Graduate Resident Non-Resident
Tuition & Fees $5,070 $11,290
Living Allowance $13,648 $13,648
Books & Supplies $600 $600
Loan Fees $100 $100
Total $19,418 $25,638