At St. John’s University financial aid is awarded primarily on
the basis of financial need. St. John’s participates in all forms
of federal financial aid and therefore recommends that all students
file the Free Application for
Federal Student Aid (FAFSA) as their major financial aid
application.
The financial information you and your family provide on your Free
Application for Federal Student Aid (FAFSA) OR renewal FAFSA is
analyzed by the federal need analysis processor using Federal
Methodology, a standard formula established by the U.S.
Congress. It is used by the federal processor to calculate
expected family contribution (EFC).
After analyzing your financial information, the federal processor
sends the results to the University, indicating how much you and
your family should be able to pay for your education. If the cost
of attending St. John’s is greater than what the processor
indicates you and your family should be able to pay, the University
then considers that you have financial need.
Family Contribution
Family contribution is the amount you and your family are expected
to contribute toward your college cost. Your family’s total income
and financial situation are taken into account in determining
financial need.
Parents’ Contribution
In determining parental contribution, deductions are made for
parents’ employment costs; living expenses such as food, clothing,
and housing; and the amount of taxes paid. Also considered are
family size, number of family members attending college or other
postsecondary schools, number of parents working and parents’ age.
In general, parents and students are expected to pay as much of the
educational costs as they can reasonably afford.
Student Contribution
Students are expected to help pay their educational costs from
their existing resources, such as savings, income, benefits or
employment. After analyzing all student income and assets
available, a determination of student contribution is made.