Demonstrated Financial Need
Financial aid at Scripps College is awarded on the basis of demonstrated financial need, which is the difference between the costs of attendance and the amount your family is expected to pay (your expected family contribution, or EFC). Scripps College meets 100 percent of this demonstrated need for all admitted students who meet all eligibility criteria and established application deadlines.
Cost of Attendance:
Educational expenses for the academic year include actual charges for tuition, standard fees, room, board, and an estimated allowance for books and supplies, transportation, and personal expenses, including average fees associated with federal student loans. Your actual cost of attendance may vary.
Please note that the estimated cost of attendance changes each academic year. Normally, the Board of Trustees will establish the rate of tuition and fees and room and board in their March meeting for the upcoming academic year.
Estimated 2018-2019 costs for full-time, degree-seeking, residential students (on-campus or off-campus and not with parents):
|Tuition and Fees
|Room and Board
|Books and Supplies
*The personal expense allowance includes the average Federal Direct Loan origination fee experienced by borrowers in the 2017-2018 academic year.
**The transportation allowance vary by student based on the geographic location of their permanent residence.
Estimated Family Contribution (EFC):
Scripps College Office of Financial Aid determines the family contribution by carefully reviewing each family’s financial aid applications including the FAFSA and CSS /Financial Aid PROFILE Forms, along with parent and student tax returns and supporting documentation. Scripps College uses both Federal Methodology(FM) and Institutional Methodology(IM) to determine your EFC.
Federal Methodology is the formula used to determine eligibility for the Federal Pell Grant, Federal Direct Loans, Federal Work-Study, and state scholarship programs such as the Cal Grant. The EFC is determined from the data provided on the Free Application for Federal Student Aid (FAFSA) and verified using data from federal tax returns and other supplemental documents. FM excludes some forms of income and expenses, and eliminates some assets from consideration, when calculating the EFC.
Institutional Methodology is a formula developed by the College Board used by over 400 colleges and universities in awarding institutional financial aid. Institutional Methodology includes several forms of income, asset, and expense elements not considered under Federal Methodology. We believe that this method of need analysis most accurately determines a family’s ability to pay for college.
Estimated Family Contributions may be made up from a custodial parent contribution, a noncustodial parent contribution, and a student contribution.
The following items are considered:
- family size
- number of children enrolled in undergraduate degree programs
- student income and assets
- parents’ income and assets (including home equity, business equity, but not retirement accounts)
- extenuating family circumstances (such as illness or loss of employment)
Our need analysis allows for necessary family expenditures such as taxes, reasonable living costs (if you live in a more expensive area we have greater allowances for cost of living), educational savings for siblings and unusual medical expenses. Our analysis protects a portion of the family’s assets as allowances for emergencies and educational savings. Part of the remaining income and assets is considered to be available for current college expenses.
In addition to a parent contribution, each student is expected to provide a minimum student contribution from income of $1,700 each year for books and personal expenses and a portion of personal savings or assets.
The Financial Aid Award
Once the family’s financial contribution has been determined, Scripps awards a combinations of grants, loans, and work-study to meet the student’s financial need. Outside scholarships may be used to reduce the minimum student contribution from income and self-help awards (i.e., loans and work) before they reduce Scripps College Grants.
Financial Aid for Future Years
Students and families must re-apply for financial aid each year. If the family’s financial circumstance remain relatively stable from year to year, the Estimated Financial Contribution (EFC) and the amount of financial aid should remain fairly stable. If a family’s financial circumstances change from year to year (i.e., changes in income, changes in assets, changes in number of siblings who are undergraduates in college, then the EFC will change.
Families should note that the cost of attendance will change each year. Historically, this change has been approximately 3 to 4 percent each year. In addition, the maximum annual amount of need-based student loans you will receive in your financial aid award will change each year. We cannot guarantee your financial aid award will not change in future years; however, for families whose financial circumstances do not change year-to-year, the amount of need-based grant aid will generally remain the same or increase slightly.
If a domestic student’s family experiences a change in circumstance during the academic year, the student should contact the Office of Financial Aid for more information.
Special Circumstances in Need Analysis