What Is Need-Based Aid?
Need-based aid, as opposed to merit-based scholarships, is awarded through the financial aid office. When determining need, the financial aid office considers several factors including:
- Parent and student income
- Parent and student current assets
- Federal taxes paid
- Number of people dependent on the family’s income
- Number of children in the family currently attending college
- Age(s) of parent(s)
- Expected Family Contribution (EFC), as determined by the U.S. Government based on the FAFSA
How is Financial Need Determined?
The FAFSA determines your eligibility based on your and your family’s ability to pay. Agnes Scott combines its resources with state and federal aid to create financial aid packages customized to your needs.
The college automatically considers all early-decision and scholarship-decision students for merit-based scholarships, and it considers all students for need-based aid.
What Does an Award Package Usually Include?
Once we determine your eligibility for financial aid, we apply assistance from all sources toward your eligibility. If you qualify for aid, your package may contain any or all of the following:
- Grants (institutional, federal and state awards that do not need to be repaid)
- Scholarships (which also require no repayment)
- Student employment
- Loans and other payment options