Loan amounts are calculated using the following formulas (see definitions below):
The Cost of Attendance (COA) includes not only tuition and fees but also living expenses, books, supplies, personal expenses and transportation costs for the eight month period (undergraduate) or twelve month period (graduate) while you are in school.
The Expected Family Contribution (EFC) is based on the student's (and if applicable, the student's family's) income and assets, as was reported on the FAFSA form. The EFC is reported on your Student Aid Report (SAR) and is based on an eight month period of enrollment. For graduate students attending for three semesters, your EFC will be adjusted accordingly.
The Estimated Financial Assistance (EFA) usually takes the form of scholarships, grants, loans, tuition remission or work that is awarded on the basis of postsecondary enrollment.