Need:
This is the difference between the Cost of Education and the Expected Family Contribution (EFC). It is the gap between the cost of attending the school and the student's resources.

Need Analysis:
Technique used to determine a student's need for financial assistance for college expenses. The analysis determines the family's ability to contribute to the student's cost of attendance.

Need-Based Financial Aid:
Financial aid that relies upon financial need as the determining factor. Financial need is considered to be total cost minus expected family contribution, as determined by Congress.

Net Income:
This is income after taxes, deductions, and allowances have been subtracted.

Non-Need Based Financial Aid:
Financial aid that does not require financial need as a criterion for eligibility. Examples of non-need based financial aid include the Federal Direct Unsubsidized Student Loan.

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