Student Financial Services
FAQ: Award Letter
Student Financial ServicesWhat is my estimated cost of attendance?
The estimated cost of attendance (COA) is the estimate of what it will cost to attend UNA for the academic year. This figure consists of estimated tuition, books, room/board, personal, and transportation costs. Items could be higher or lower than our estimates depending on personal spending habits.
What is "Expected Family Contribution?Expected Family Contribution is the indicator of how much you and your family are expected to contribute to your education. The Federal Processor calculates your EFC based on the data that you provide on the federal aid application (FAFSA). We use the EFC, among other factors, to determine how much and what types of aid that you qualify for.
What are "outside resources"?
Outside resources include other aid sources that either you have reported to us or we have identified on your student billing statement. These resources include but are not limited to the Alabama GI Dependents Scholarship, ANGEAP, and any other outside scholarships or loans.
What is "financial need"?
Financial need is the difference between your cost of attendance and the amount of money your family is expected to contribute (EFC). The formula is: COA minus EFC minus other aid = Financial Need. The need amount represents the limit of your eligibility to participate in need based programs which include grants, subsidized Stafford Loans, and Federal Work Study. If your calculated need is -0-, you may qualify for non-need based aid such as unsubsidized Federal Loans and/or Federal Parent PLUS Loans.
What is "unmet need"?
Unmet need is the amount of need that we cannot meet from need based aid programs. Unmet need = Need minus need-based aid. You may have unmet need after being awarded the maximum limits you qualify for in need based programs.
How much will my family and I be expected to pay (excluding financial aid) for my education over the course of the school year?
The amount the student and/or family can expect to pay for tuition, books, room/board, personal, transportation = estimated cost of attendance minus total aid. In some cases, students do not receive enough aid to cover the full COA. Parent Loans and alternative loans are available to make up the difference.
For more information about parent and/alternative loans, visit our Student Loans page.
If my parent is approved for a PLUS loan (credit check is required) how much can they borrow?
A parent of a dependent undergraduate student can borrow the amount of estimated cost of attendance minus total aid that the student expects to receive. If your parent applies for a PLUS loan and is denied the loan, you may be eligible for additional unsubsidized loan funds.
Visit our Student Loans page for additional information.