Constructing Your Budget
In developing your financial aid award package, SFT begins by constructing a budget based on the estimated cost of education for the academic year. After analyzing your resources, calculating your need, and assessing your level of academic achievement, we determine your financial aid award in relation to your budget.
Your need for financial assistance is calculated as the difference between the estimated cost of your education (your budget) and your resources. An estimated expense budget includes tuition and fees, room and board, books and supplies, personal expenses, and a transportation allowance. Although we use standard amounts for certain categories of students, budgets vary depending on the following factors:
- Where you plan to reside — at home with your parents or a relative, in an on-campus residence hall, or in an off-campus apartment. Students who live off-campus may be required to verify their living arrangement with a copy of their lease. If a lease is not obtained, your aid will be adjusted to commuter status.
- Whether you are dependent on your parents or self-supported according to federal regulation.