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Financial
Aid
Determining Your
Financial Need Tuition
and Fees Expense
Typical Cost of Attendance
[COA] for 2007-08, assumes full-time enrollment
for two semesters.
Tuition
and Fees
Other Expenses:
In addition to tuition and fees, a student should
budget for other types of expenses, i.e., money
to pay for books and supplies, transportation
to and from campus, living and miscellaneous expenses.
The Financial Aid Office makes allowances for
other
expenses.
Total Cost of Attendance (COA) if enrolled full-time,
two semesters, living with parents' = $13531.
If living off-campus (not living with parents)
= $19381.
 Family's
Expected Contribution
You (and your parent(s)' or spouse, if
applicable) must complete the Free Application
for Federal Student Aid (FAFSA) and send it to
the federal processor. Given the income, asset,
and household information provided, an expected
family contribution [EFC] is computed using a
federally mandated formula, i.e., Federal Methodology.
OCC's Financial Aid Office uses the data received
from the federal processor to determine:
- Your dependency status
- Your (and your spouse, if applicable) contribution
from your earnings
- Your (and your spouse, if applicable) contribution
from your assets
- Your (and your spouse, if applicable) other
resources, e.g., Veterans Benefits
- Your parents' contribution from their resources
(if applicable)
The EFC is used by the Financial Aid Office to
determine your financial aid eligibility and to
make financial aid awards.
NOTE: The EFC is not
used in the Cashier's Office
to determine the amount a student (and his/her
parent(s)', if applicable) must pay. The balance
due on a student's account is the difference between
the College charges and the financial aid disbursed.
This amount may be more or less than the EFC.
Financial Aid Eligibility
(or Financial Need)
Ocean County College's financial aid policy states
that the College may award need-based aid up to
the student's financial aid eligibility, as determined
by the Financial Aid Office and using the Federal
Methodology formula. A student's need-based
aid eligibility is computed by
subtracting the Expected Family Contribution
(EFC) from the Cost of Attendance
(COA).
A financial aid package may include a combination
of scholarships, grants, work, and/or loan. The
actual amount of grant, work, and/or loan a student
is offered depends on the student's eligibility
and the total amount of funds available to assist
all eligible financial aid applicants. Given limited
federal, state, and institutional funds, OCC may
be unable to award 100% of a student's financial
need.
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