GUIDE TO FINANCIAL AID
Am I Eligible?
The majority of students who apply for financial aid receive it. Regardless of your income, there is only one way to know if you qualify: You need to apply.
The agencies that process applications for financial aid calculate a figure called "Effective Family Contribution," or EFC. This is the amount that your family (parents and student) is expected to contribute to the cost of education for the upcoming school year. EFC is based on the following:
- net income
- untaxed income
- income taxes paid
- cash and savings
- business assets
- value of real estate and investments
- emergency expenses
- number of dependents
- number in college
Your family's financial need is calculated as:
Cost of Education - Effective Family Contribution = Financial Need
Financial need is met by the varying types of financial aid available from Dordt College and other sources. Therefore, the amount you and your family would pay for a year of study is calculated as:
Tuition, room, and board - Financial Aid = Amount Payable To Dordt College
If you are interested in knowing how much financial aid you might receive, the FAFSA4caster may help you. Using the FAFSA4caster, you and your family will receive an early estimate of eligibility for federal student aid. This website provides you with an opportunity to increase your knowledge of the financial aid process; become familiar with the various types of federal student aid that are available; and investigate other sources of aid, such as grants and scholarships. Please realize you will not receive an actual award letter, but you will have a better idea of how the process works and what you might receive as aid.