Financial Need Assessment

Once your documents are received, the maximum loan amount you are eligible for is determined by a process called Financial Needs Analysis (FNA). Firstly, your Cost of Attendance (COA) is determined based on the cost factors above. This is an estimate of your expected educational costs for the period in which you enrol. The Expected Family Contribution (EFC), reported on the top right corner of your SAR, is then deducted from your COA as well as your Estimated Financial Assistance (EFA), e.g. sponsorships or scholarships, to determine your financial need.

Financial Need = Cost of Attendance – Expected Family Contribution - Estimated Financial Assistance