Eligibility for federal, state, Carnegie Mellon and most private aid programs is determined by using a Congressional formula called Federal Methodology. It uses your 2007 income and your spouse's 2007 income and current equity in assets, reported on the Free Application for Federal Student Aid (FAFSA), to determine the amount you are expected to pay toward your eduction. This amount is called your Expected Family Contribution.
After we confirm your EFC, we calculate your financial need.
| Financial Need = |
Cost of Attendence Minus Expected Family Contribution |
Cost of Attendance is the expected dollar amount you will need to attend Carnegie Mellon for an academic year; please refer to the Tuition & Fees Information Page.
Using the cost of attendance, you can calculate your estimated loan eligibility. Cost of attendance will vary. You should refer to The HUB Website.
| Maximum Graduate Loan Eligibility |
Cost of Attendence Plus $1,000 Additional Allowance for Loan Fees minus Your Scholarships, Fellowships, Tuition/Fee Stipends Equals Maximum Stafford Loan Eligibility up to $20,500 *For the remaining Cost of Attendance (Cost of Attendance PLUS $1,000.00 Additional Allowance for loan fees MINUS Maximum Stafford Loans Equals remaining Cost of Attendance that you can also borrow. |
Once your financial aid package has been determined, Enrollment Services will mail a Financial aid Award Letter to your permanent address. This letter contains important information and instructions regarding your financial aid package. If your financial aid package changes at any point throughout the academic year, you will receive a revised Financial Aid Letter.
If we are unable to process your financial aid package due to missing documents, you will receive a "Financial Aid Alert" email from The HUB. If you receive this information, please remit all required documents by the date specified.