111 CMR, § 6.05 - Determination of Financial Need

The counselor will determine the consumer's financial need in accordance with the following standards before authorizing paid college training services.

The existence and extent of the financial need is determined by subtracting the following amounts from the projected total cost for the academic year:

(1) The amount designated as "Parents' Contribution" on the analysis of the FAFSA; and

(2) The amount designated as "Student's Contribution" on the analysis of the FAFSA; and

(3) The amount of any Federal government grants awarded to the consumer (If the grant has not yet been awarded at the time financial need is determined, the estimated amount of grant eligibility that is reported on the FAFSA will be subtracted. If the grant, when awarded, is more or less than the estimated amount, financial need will be recalculated.); and

(4) The amount of any scholarship or grant awarded to the consumer; and

(5) The projected work-study and/or teaching assistant earnings.

The projected total cost of tuition and fees, for the academic year will be determined by the Financial Aid Officer of the institution which the consumer will be attending and will be reported to the counselor.

Notes

111 CMR, § 6.05