Financial Aid Eligibility

How your Eligibility for Student Financial Aid is Calculated

Estimated Costs

Calculating your eligibility for financial aid begins with determining your cost of attendance.  Because actual costs will vary from student to student, SFA uses average costs. The cost of attendance structure is first based on your anticipated place of residence for the award year (e.g., commuting from the home of a parent or guardian; living in University-owned housing; or commuting from an off-campus home or apartment). Then, other factors such as whether you are a graduate or undergraduate student, the BGSU campus you will be attending, and your state residency status are taken into consideration.

Once the above has been determined, you are assigned a cost of attendance. Your cost of attendance contains both direct and indirect educational costs. Direct costs include BGSU charges for instructional and general fees (based on a minimum of 12 credit hours of enrollment for fall and spring semesters), average on-campus room and meal charges, and the non-resident fee, when applicable. Indirect costs include books and supplies, transportation costs, personal expenses, and off-campus room and meal costs. Keep in mind that average costs are used to determine eligibility and that your actual costs (particularly indirect costs) may be different.

Expected Family Contribution (EFC) (thru 2023-2024 school year)

Your EFC is based on the data you provided on your Free Application for Federal Student Aid (FAFSA). FAFSA data is analyzed using a federally-mandated formula which considers the student and parent taxable and non-taxable income, assets, taxes paid, the size of your household and the number of family members (not including parents) in college.

Student Aid Index (SAI) (beginning 2024-2025 the SAI will replace EFC)

Your SAI is based on the data you provided on your Free Application for Federal Student Aid (FAFSA). FAFSA data is analyzed using a federally-mandated formula which considers the student and parent taxable and non-taxable income, assets, taxes paid, and family size.

Other Student Resources

If you are receiving private scholarships, fee waivers, talent awards, athletic grants, proceeds from a prepaid tuition program or educational assistance from an external agency, these resources must be included when determining your financial need.

Financial Need

Since you are the primary beneficiary of your college education, a fundamental premise associated with need-based financial aid is that you and, if you are dependent, your parents have the first responsibility to pay for your college education. Therefore, when determining your level of financial need, we begin with your estimated cost of attendance (see above) and subtract your EFC/SAI and other student resources from it. If your SAI is a negative number, subtract zero from the estimated cost of attendance to determine your financial need.

If the resulting calculation is a positive figure, then you are considered to have financial need. SFA attempts to meet your financial need by providing access to federal, state, and institutional funds.

If your combined EFC/SAI and other resources are higher than the estimated cost figure, you are not eligible for need-based aid, but may qualify for low-interest educational loans. Employment is another source of funds to assist you in paying your school expenses.

Extenuating Circumstances

If you feel you have extenuating circumstances which could affect your cost of attendance, or your Student Aid Index (SAI), you should contact SFA and discuss your situation with a staff member. Before changes are made, supporting documentation will be required. Complete the Special Consideration application on our SFA website.