How We Award Aid
Page 1
How an award is built
To see how a financial award is built, we will use Molly, a freshmen from LA County, CA, as an example.
Molly graduated high school with a 3.6 GPA. She scored an 1150 on her SAT's (equivalent to about a 25 on the ACT) and is interested in computers and technology. She was the president of her church youth group, and she participated in some volunteer work.
Molly filed her FAFSA, and the Cal Grant GPA verification form by March 2nd. Based on the results of her FAFSA, her EFC (Expected Family Contribution) was $13,760.
CLU evaluates Molly for an academic merit scholarship at the time of her admission.
Then, once all of the FAFSA information is received, CLU builds the rest of Molly's financial aid package.
Page 2
CLU Costs for 2008-09
| Tuition | $27,600 |
| Room & Board | $9,650 |
| Fees | $250 |
| Total | $37,500 |
| + estimate for books, travel, costs and personal expenses | $4,265 |
| Grand Total | $41,765 |
Page 3
Molly's need is determined
| Grand Total | $41,765 |
| Molly's EFC | - $13,760 |
| Need | $28,005 |
Page 4
Molly's Financial Aid Award is built
| Need |
$28,005 |
| Academic Merit Scholarship | $13,000 |
| Cal Grant A | $9,708 |
| Federal Work Study Opportunity | $1,700 |
| Stafford Subsidized Student Loan | $3,500 |
| Parent Plus Loan | $4,000 |
| Total Financial Aid | $31,908 |
Page 5
How do you determine your out of pocket costs?
| Total Cost | $37,500 |
| Total Financial Aid | - $31,908 |
| Family's Out of Pocket | $5,592 |
