There are three basic steps used to determine the amount of financial aid you are eligible to receive.
Step One: Determining Your Student Budget
A student budget that includes standard fees and costs is assigned to financial aid recipients. The budget is determined each year based on the average estimated expenses in Northern Nevada.
Standard student budgets (A.k.a. Cost of Attendance) are constructed recognizing the different costs for students living at home with family support or living away from home. Out of state or international students who enroll for six or fewer credits in a semester are required to pay an additional $60.25 per credit. Those who enroll for more than six credits in a semester must pay an additional $2,692.50. The 2007-2008 academic year (fall & spring semesters) budgets for Nevada residents are as follows:
Full Time Budget (12 credits or more)
| Living With Parent | Not Living With Parent |
| Tuition/Fees | $1764 | $1764 |
| Books/Supplies | $1100 | $1100 |
| Room/Board | $1950 | $8550 |
| Personal/ Miscellaneous Expenses | $1200 | $1200 |
| Transportation | $1200 | $1200 |
| TOTAL | $7214 | $13,814 |
3/4 Time Budget (9-11 credits)
| Living With Parent | Not Living With Parent |
| Tuition/Fees | $1323 | $1323 |
| Books/Supplies | $825 | $825 |
| Room/Board | $1463 | $6412 |
| Personal/ Miscellaneous Expenses | $900 | $900 |
| Transportation | $900 | $900 |
| TOTAL | $5411 | $10,360 |
1/2 Time Budget (6-8 credits)
| Living With Parent | Not Living With Parent |
| Tuition/Fees | $882 | $882 |
| Books/Supplies | $550 | $550 |
| Room/Board | $974 | $4274 |
| Personal/ Miscellaneous Expenses | $600 | $600 |
| Transportation | $600 | $600 |
| TOTAL | $3606 | $6906 |
Less than 1/2 Time Budget (1-5 credits)
| Living With Parent | Not Living With Parent |
| Tuition/Fees | $441 | $441 |
| Books/Supplies | $275 | $275 |
| Room/Board | $0 | $0 |
| Personal/ Miscellaneous Expenses | $0 | $0 |
| Transportation | $300 | $300 |
| TOTAL | $1016 | $1016 |
Budget Adjustments
If you have additional expenses such as childcare, elder care, disability related expenses (which are not paid by an outside funding agency), or uninsured medical or dental expenses, please let us know. Also, if you must purchase additional supplies required for programs that are in excess of the standard budget allowance, you may request adjustments to your budget.
Step Two: Determining Your Eligibility
A: Financial Need
The Expected Family Contribution (EFC - located on the upper right hand corner of your SAR) is the amount of money you and your family are expected to contribute toward your educational costs. Your EFC is calculated based on the information you reported on your FAFSA. Your financial aid eligibility is the difference between your student budget and your EFC. Funds are limited and often it is not possible to meet a students' full financial aid eligibility.
Your Student Budget
- Your Expected Family Contribution (EFC)
= Your Financial Need
B: Academic Progress
To receive financial aid, you must maintain Satisfactory Academic Progress. Federal regulations require that academic progress be monitored for all periods of enrollment whether or not you have received financial aid. Students must maintain a 2.0 GPA, meet the Unit Completion Requirements, and not exceed the maximum number of credits for their program. Financial aid checks will not be processed for students who do not maintain the Standards for Satisfactory Academic Progress.
Step Three: Determining Your Financial Aid Award
Awards are based on student eligibility, enrollment status, and application deadlines. Once your file has been reviewed and your eligibility has been determined, the Financial Assistance Office will award you any grant and work-study funds you are eligible to receive. If you need to borrow student loan funds, you must complete the loan application process.
What if my financial Situation has changed?
The Financial Assistance Office recognizes that your circumstances can change. If you or your family's financial situation has changed, you are encouraged to contact the Financial Assistance Office.
