Need a based aid is determined by the?

Need-based aid is determined by a student's financial circumstances, which typically includes factors such as family income, assets, and the cost of attendance at the institution. Financial aid offices assess this information through applications like the Free Application for Federal Student Aid (FAFSA) to calculate the Expected Family Contribution (EFC). The difference between the cost of attendance and the EFC helps determine the amount of need-based aid a student may qualify for, including grants, scholarships, and loans.