Federal financial aid is made up of grants, work study programs, and student loans. Federal student loans are funded, in part, by the federal government and are not subject to credit, making them more attractive than commercial private loans. The ability of students to defer repayment until after they leave school is also a feature not found in commercial loans. Therefore, student loans are considered financial aid. Federal grant monies are typically reserved for the students and families who demonstrate the most financial need. Middle-to-high-income households therefore might see little or no federal grant money in their financial aid award offers.
Financial aid eligibility will depend on your and your parents’ (if dependent) income, living expenses, assets, and savings. This is called the Expected Family Contribution (EFC) (for the 24-25 award year and beyond, Student Aid Index (SAI)).
Your eligibility is also determined by the Cost of Attendance (COA) at WSU. The amount of need-based financial aid you are eligible to receive is determined by subtracting the EFC from the COA: Estimated Cost of Attendance at WSU - Expected Family Contribution = Financial Need (for the 24-25 award year and beyond, estimated COA at WSU minus SAI - Other Financial Assistance (OFA) equals Financial Need).