There are three partners – student, parent, and taxpayer (i.e. federal and state aid) – in assisting you to pay for your educational costs. When you complete the Free Application for Federal Student Aid (FAFSA) a need analysis is calculated using the federal financial aid formula. When you include St. Cloud State as a recipient of your FAFSA results, the Financial Aid Office is provided the results of this need analysis or Expected Family Contribution (EFC).
The EFC is made up of the student contribution and parent contribution (dependent students). Your eligibility or "need" is determined by subtracting the EFC from the school’s Cost of Attendance (COA). This need must be determined before we can award you financial aid. Example: SCSU Cost of Attendance – EFC = Need.
Need is the total amount of need-based aid (grants, work study, subsidized loans) a student may receive from all sources. Students may obtain loans not based on need to substitute for the EFC.
Financial aid awards are applied to outstanding charges after the sixth class day of each term based on your enrollment level. Late awards are applied to your account at the time they are awarded. If your aid exceeds your SCSU charges, you may use the difference to pay for your education-related expenses (books, rent, food, transportation, and miscellaneous personal expenses).
The fastest, most efficient way to receive these funds is by direct deposit to a savings or checking account. Direct deposit may be set up through the "Financial Aid" link in your e-Services.
Questions regarding disbursement
of your financial aid should be directed to:
Business Services Office
Administrative Services Building, Room 123