Financial Aid Basics - Part I
Welcome! This site has been designed to help prospective students and their families understand the most important aspects of financial aid at CLU. We've written these pages so that you can easily understand them - you will find a minimum of jargon here - and feel more informed about the how's and why's of making the college years affordable. First, you should know that this site will be most relevant for prospective undergraduate students at CLU. By using the navigation bar on the right-hand margin, you'll learn about all the most important aspects of financial aid at CLU.
A college education is both an experience and a commodity of great value. It represents a significant investment of time, energy, and resources by you and your family. A CLU education is a worthwhile investment, one which will provide lifelong returns. CLU supports you in that investment, striving to make a CLU education possible for as many families as possible through the use of financial aid.
Financial aid is broken down initially into 2 general categories: need-based & non-need based. CLU awards both of these types of aid.
To apply for need-based aid, you must file the FAFSA form (CLU's School Code is 001133)- this form will determine your Expected Family Contribution (EFC). The difference between the student's EFC and the total cost of attendance is called Financial Need.
Cost of Attendance - Estimated Family Contribution (EFC) = NEED
Non-need based aid is also sometimes called merit-based aid, and is based on the student and his/her profile. In general, most scholarships are considered merit-based aid.
