The needs analysis system evaluates all of the information requested and determines a reasonable contribution to be expected from the parent and student towards the studentís educational expenses. Unless there are extenuating circumstances, the Office of Financial Aid is required to use this expected family contribution in determining a studentís need for college aid. If family financial circumstances change significantly after filing the FAFSA (due to loss of employment, extended illness or disability, etc.), the family should write to the financial aid office as soon as possible, outlining this change in personal resources.
For the purpose of application, income is defined as wages, salary, tips, interest accrued, dividends, pensions, welfare, social security, or any other form of income. Deductions against income are made for taxes and there is an employment allowance for parents working outside the home, as well as an income protection allowance that is based upon family size and the total number of family members in college.