The Award process

HOW FINANCIAL AID IS AWARDED

Montgomery College uses the federal government’s formula (link to Department of Education pdf 35 pp.) to determine your ability to pay for your education. We review and award applications for financial aid in the date order they are received, completed, and verified.

Yearly Cost of Attendance

minus Estimated Family Contribution

equals Demonstrated Need)


The Need Analysis formula components:

We collect eligibility information on the Free Application for Federal Student Aid (FAFSA) that you submit to the federal processor.

The formula considers your family income (including your parents' income if you are dependent and your spouse's income if you are independent), the size of your family, the number of family members attending college at least halftime (not including your parents), and your family's assets. Federal, state, and local taxes paid, social security paid, and an allowance for supporting the family are also factors in determining your Expected Family Contribution (EFC).

This EFC amount represents what the formula says your family can contribute to your educational costs.

COA (Cost of Attendance):

The Office of Student Financial Aid constructs average budgets that include tuition, fees, books, transportation, and living expenses. These budgets are the Cost of Attendance.

Demonstrated Need:

The Office of Student Financial Aid subtracts the Expected Family Contribution from the Cost of Attendance. The difference between the Cost of Attendance and the Expected Family Contribution is your Financial Need. (Students who register for less than six credit hours each semester may not have financial need for most types of aid, except Pell Grants.) We review and award applications for financial aid in the order they are received, completed, and verified.

You may use your financial aid to pay for developmental course work. (For additional information, see the Satisfactory Academic Progress Policy.) Refer to the Schedule of Classes for the credit hour equivalent for developmental classes. Financial aid does not cover continuing education courses or classes students register for as “Audit.”

If you complete all file requirements needed to review you financial aid application by May 15 for the fall semester and by November 1 for the spring semester, the financial aid office will have an award decision in time for the start of classes for the semester. You can meet with a financial aid representative if you have special circumstances or if you want an explanation of your award status/financial aid eligibility.