Understanding Financial Need

The amount of financial aid you qualify for is based on a number of variables; your individual status, the cost of attendance, your enrollment status at MCC, any concurrent enrollment at another college, federal regulations, state rules, and the availability of program funding. This information enables us to derive your Financial Need.

Defining Financial Need

Financial Need is a key component used by colleges to determine the maximum amount of financial aid you can be awarded for the academic year. Financial Need is the end result of a simple calculation that subtracts the Expected Family Contribution from MCC's Cost of Attendance.

Cost of Attendance (COA) - Expected Family Contribution (EFC) = Financial Need

Using your Financial Need, we identify each financial aid award you are eligible to receive. Need-based aid sources include grants, scholarships, federal work study and loans.

Some financial aid sources are available without regard to Financial Need such as unsubsidized federal and private loans as well as Federal Veteran Benefits. Non-need-based aid eligibility is determined by subtracting any financial aid already awarded from MCC’s Cost of Attendance.

Cost of Attendance (COA) - Financial Aid Awarded = Non-need-based eligibility

Cost of Attendance (COA)

The Cost of Attendance (COA) to attend MCC for an academic year is based on your dependency and enrollment status. The COA for students attending at least half time includes academic expenses such as tuition, fees, books and supplies, miscellaneous expenses, room, board and transportation. Other expenses such as child care or disability assistance may be considered as part of the COA. Financial aid funds cannot be used towards non-education related expenses. The total amount of financial aid you receive cannot exceed the Cost of Attendance.

Approximate Student Budget* for Aid Year 2019-2020

Independent Student
Tuition and Fees $ 4,024
Books and Supplies $1,400
Room and Board $12,298
Personal Expense
$ 1,538
Transportation $ 1,616
Estimated Cost per Year $20,876
Dependent Student
Tuition and Fees $4,024
Books and Supplies $1,400
Room and Board $1,646
Personal Expense
Transportation $1,616
Estimated Cost per Year $10,224

*Budget based on 15 credit hours per semester, in-district

Expected Family Contribution (EFC)

Your Expected Family Contribution is an index determined by the U.S. Department of Education through a process called Federal Methodology. The information provided on your FAFSA is used to calculate your EFC. This process takes into account taxed and untaxed income, assets, and benefits, as well as family size and number in college.   

The EFC represents the total dollar amount the federal government feels you and/or your family can reasonably contribute towards educational expenses during the academic year applied for.

Special Circumstances

If you feel that the information reported on the FAFSA does not accurately reflect your current financial situation, you may be eligible for a professional judgment review. An aid administrator may use professional judgment (PJ), on a case-by-case basis only, to update the data used to calculate the EFC to better reflect your current financial situation. We ask that you provide supporting documentation that is to be considered in your review.

Professional judgment can't be used to waive general student eligibility requirements or to circumvent the intent of the law or regulations. If you believe you have special circumstances that should be considered please stop by the Office of Financial Aid.