Understanding the Art Student’s Financial Need
The student’s financial need is the difference between PrattMWP’s cost of attendance and the amount the student’s family is expected to contribute to their education.
Cost of Attendance – Expected Family Contribution = Financial Need
Expected Family Contribution
The Expected Family Contribution (EFC) is determined from a calculation created by the federal government, and is based on a family’s income, assets, and household size submitted on the FAFSA (current debt is not taken into consideration). Students can find their EFC on the confirmation page of their FAFSA, or in their FAFSA confirmation email. The EFC is an estimate of what the family should be able to contribute, and is used to determine financial aid eligibility. It is not what the family has to, or is required to pay.
Cost of Attendance
The Cost of Attendance is an estimate of the college expenses a student will incur while attending PrattMWP for one academic year (fall and spring semester). Included in our cost of attendance are tuition, fees, room and board, books/supplies, and personal expenses. Travel expenses are not taken into consideration for students that will be living on campus.