How are awards calculated at NOVA?

Awards are processed on a first-come, first-served basis as files are completed. Students who complete the FAFSA are assigned an EFC number (Estimated Family Contribution) which allows the federal government and department of education to determine how much aid you may be eligible for. Once you submit your FAFSA, NOVA receives your EFC and creates a COA worksheet.

How do you calculate need-based aid? How do you calculate non-need based aid?

Federal financial aid eligibility is calculated based on guidelines from the Department of Education. For more information go to studentaid.ed.gov/fafsa/next-steps/how-calculated.

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Topic Information
  • Topic #: 8202-59
  • Date Created: 9/14/2011
  • Last Modified Since: 5/8/2014
  • Viewed: 1123
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