Philosophy of Student Financial Aid at ASU
We believe that...
- The federal formula used is designed to provide an equitable means for evaluating financial status and determining an Expected Family Contributed (EFC).
- The formula may not address individual situations. Students must let us know if there are extenuating circumstances.
- Our first responsibility is to assist the most economically-disadvantaged students. Funding is limited. We award to the neediest students first and may not be able to meet all students' total financial needs.
- Student budgets should reflect reasonable allowances for typical student expenses.
- The financial aid awarding process ensures distribution of funds in a fair and equitable manner to all aid applicants.
- Students should make a commitment to their education with both current and future earnings through working and borrowing to pay for their costs. Therefore, self-help (work and loan) is a part of the aid awarded.
- We have a responsibility to develop information and policies that educate students about loan debt to reduce defaults on student loans.