Determining Your Need | Penn State Office of Student Aid

Determine Your Need:

Completing the Free Application for Federal Student Aid (FAFSA) is the first step in determining the types of aid for which you are eligible.

Once you have completed your FAFSA, your Expected Family Contribution (EFC) 2023-24 or Student Aid Index (SAI 2024-25) is calculated through a formula established by federal law. The formula takes into account many variables including your (and your parents' if you are a dependent student):

Income and assets
Number of people living in your household
State of residence

Your cost of attendance minus your EFC/SAI equals your financial need.

Your EFC/SAI does not vary from school to school regardless of the actual cost of the institution you are attending. However, your financial need will vary according to each school's cost of attendance. For most students, financial aid only meets part of their financial need.