<p>I was just wondering how Richmond calculates the EFC and the Cost of Attendance. </p>
<p>Part I (EFC): Does Richmond take the EFC right off the FAFSA (i.e. your EFC is $30000) or are there other things that they add and subtract to that FAFSA EFC?</p>
<p>Part II (The Cost of Attend.): I found this on Richmond's website </p>
<p>University</a> of Richmond Financial Aid: Undergraduate Cost of Attendance</p>
<p>Which one does Richmond base the Cost of Attendance on the $48500 or the $50500 because take is a somewhat substantial difference when calculating a Financial Aid award (i.e. $48500-$30000= $18500 Award vs. $50500-$30000= $20500)?</p>
<p>----Also will Richmond gurantee part of the grant you receive in you finaid package, so if your parents income goes from $30,000 to $300,000, you still get the guranteed aid--------</p>
<p>Part 1: Richmond uses information gathered on the Richmond In Reach Supplemental Financial Aid Application and from federal tax returns in addition to the data on the FAFSA to determine EFC. We use federal methodology and institutional policies to determine EFC. </p>
<p>Part 2: We calculate aid packages using the “total cost of attendance” rather than the straight tuition, room and board figures. Total COA includes tuition, room and board as well as allowances for personal expenses, books and supplies, etc. (though your actual spending may be higher or lower than the allowances). The total COA for the 09-10 academic year is $50,630. </p>
<p>So your eligibility will be based on Total COA – EFC = eligibility. </p>
<p>With need-based aid, there is not a guarantee of the size of your award from year to year. All students must apply for need-based aid annually, and as your family’s circumstances change (in either direction), so can your aid award amount. We will always meet 100% of your eligibility. </p>
<p>IMPORTANT NOTE: This answer only applies to U.S. citizens and permanent residents. International student aid is a different process.</p>