What is demonstrated financial need?

Demonstrated financial need refers to the difference between Jewell's total cost of attendance (COA) and the expected family contribution (EFC) as determined by your FAFSA. This calculation determines how much federal, state, and institutional scholarship, grant, and subsidized work and loan programs may be awarded to a student.

COA - EFC = Need

Example: William's EFC is 25,000 and the cost of attendance is 40,000 resulting in a financial need of 15,000. William is eligible to receive a $11,000 Presidential Scholarship from Jewell; therefore he has 4,000 of unmet eligibility remaining that would allow the college to award a $3,500 Subsidized Direct Loan and $500 of Federal Work Study (funds available basis only).

After Scholar Recognition Day, William finds out he will receive a $17,000 Jewell Scholarship. His financial need of 15,000 has thus been met by the $17,000 scholarship. This allows for $0 in Work Study and the Subsidized Direct Loan must be redistributed to an Unsubsidized Direct Loan.

Need may be exceeded by scholarship dollars only.