Financial Aid

Calculating 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.


$19,695 Cost of Attendance Budget
$200 EFC (Determined by FAFSA Results)
= $19,495 Financial Need
$5,565 Pell Grant (Eligibility Based on EFC )
$1,500 State Grant (Eligibility Based on EFC )
$5,500 Stafford Loan ($5,500 Freshman Max Per/Year)
$1,000 Missouri Western Scholarship
$1,000 External Scholarship
= $4,930 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.