WHAT IS FINANCIAL NEED?
For financial aid purposes, financial need is defined as the difference between what it costs to attend and what the student and the student's family can pay towards college expenses. The calculation of what the family can pay is called the Expected Family Contribution or (EFC). The EFC is calculated by the application processors of the Free Application for Federal Student Aid (FAFSA) and the Washington Application for Student Financial Aid (WASFA) and the results are sent to the schools the student designates on the application.
The cost of attendance varies by school based on the schools tuition and other expenses. The cost of attendance, or student budget, at YVC consists of tuition at YVC combined with the student budgets prepared by the Washington Financial Aid Association that periodically conducts student budget surveys and adjusts costs based on changes to the consumer price index.
COST OF ATTENDANCE 2016-17
Annual (9 month)
Living with Parents
Living with Parents
Any Student who is
Not Living with Parents
|Books and Supplies||$825||$825||$825|
|Room and Board||$3,165||$7,634||$9,583|
|COA Total (Not including tuition)||$6,940||$11,811||$13,588|
|Average Full-Time Tuition|| Washington Resident||||Other State Resident|
|Lower Division||$4,125||Lower Division|| $4,617|
|Upper Division||$7,122||Upper Division|| $7,494|
NEED-BASED ASSISTANCE PROGRAMS
There are three main types of need-based financial aid that may be included in a student's financial aid award notice from the financial aid office:
GIFT AID (funds not repaid by eligible students) May be in the form of a grant, scholarship or waiver. Awards are based on student eligibility, need based on FAFSA data, and available funds. Awards are posted on the financial aid portal and do not require the student to formally accept each award.
LOAN (funds must be repaid, but may be deferred while the student is in school) Federal Direct Stafford Loans are based on student request after eligibility for grants has been determined. Loan request forms are available on the forms webpage and at the financial aid office after initial grant awards have been issued.
WORK (a job for which the student is paid) Work Study awards are based on student request after eligibility for grants has been determined. Awards are restricted by the availability of funded positions. Each student must attend an initial Student Work Study Orientation and verify eligibility for employment before being awarded. Watch the announcements on the financial aid office web-site for dates and times of upcoming orientation sessions.
YVC ADMINISTERS THE FOLLOWING NEED-BASED AID PROGRAMS:
Self Help Aid|
|FEDERAL PELL GRANT: A federal grant program. The student must enrolled for at least one credit per quarter. The student must meet federal eligibility requirements and not have earned a bachelor's degree. Eligibility ends after equivalent of six full-time years of Pell, 150% of credits required or bachelor's degree (whichever is first).||
FEDERAL WORK STUDY: Federally funded student employment program authorized by the Civil Rights Act of 1964. The student must meet federal eligibility requirements Currently, jobs are on-campus with payment on a monthly basis. The student must be enrolled in at least six credits.|
|FEDERAL SUPPLEMENTAL GRANT: A federal grant program. The student must be a Pell recipient and enrolled for at least one credit per quarter. The student must meet federal eligibility requirements with priority given to Pell recipients.||STATE
WORK STUDY: Washington State funded student employment program that is the second oldest state work study program in the nation. Currently, jobs are on-campus with payment on a monthly basis. The student must be enrolled in at least six credits. The student must meet federal eligibility requirements and be a Washington State resident.|
|WASHINGTON STATE NEED GRANT: A state grant program. The student must be a Washington State resident and be enrolled in at least three credits per quarter and must not have earned a bachelor's degree. The student must meet either federal eligibility requirements and be a Washington State resident or meet the state residency requirements under HB 1079 (Real Hope/Dream Act). Eligibility ends at maximum of 15 full-time quarters or125% of required credits. No eligibility for associates degree for 5 years after earning an associates degree.||FEDERAL DIRECT (SUBSIDIZED) STAFFORD LOAN: A low-interest federal loan program. No interest accrues on this loan while the student is enrolled at least half-time. The student must be enrolled in at least six credits and show "need" to request this loan. (Loan request forms are available after grant-eligibility is determined.)|
COLLEGE BOUND SCHOLARSHIP: A state scholarship program for residents who enrolled in the program in middle school and have met all conditions. Eligible student must meet State Need Grant requirements at below the 65% MFI level and meet program enrollment/usage requirements. |||
TUITION WAIVER: A state-authorized grant program that pays/waives a portion or resident tuition. The student must meet federal eligibility requirements and be a Washington State resident.|