Web Editor’s Note: This story was written for the MCOMM 3309 – News Editing & Reporting Class

Despite the fact that the government’s financial aid program has helped fund the college careers of numerous people, one thing that remains mysterious to some is exactly how a person’s “need” is determined. WT’s Associate Director of Student Financial Services, Marian Giesecke, helped explain the financial aid equation:

• Step One: First, they take your cost of attendance. This cost is a combination of your tuition and fees, books, room and board, transportation, and personal costs. The tuition is based on 15-hour enrollment, and the room and board is an average of the three major residence halls’ costs.
• Step Two: Next, they subtract your estimated family contribution (EFC). When you file your FAFSA each year, the government determines a certain amount of money that your family is expected to be able to contribute to your college costs.
• Step Three: Then, they subtract any other form of financial aid besides unsubsidized loan. This includes scholarships, grants, and subsidized loans.

Finally, the remainder equals your financial need. However, this equation has its faults, which has left some students with things not adding up. Marco Gillezeau, a sophomore at WT, is one of those students. After receiving scholarships and accepting the student loans offered to him, Gillezeau still had some costs not paid for.“My scholarships and FASFA student loans did not cover everything,” Gillezeau said.

Because of this, his parents had to cover the remaining costs out of pocket, but this was not done without complication or sacrifice on their part.

“There was one month where my parents didn’t pay their credit card bills because they paid my tuition,” Gillezeau said.

This situation is not uncommon. Often students are offered smaller loans due to their high EFC number, but this calculation is not always accurate. As Giesecke explained, there are some components that aren’t factored into this number.

“They don’t take into account bills, and that’s the biggest complaint,” she said. “Yeah, they say I can do this, but they don’t say ‘Ok, I pay for a house, I pay for cars, and I pay for food’ and that’s true.”

While it may seem that none of the everyday costs of life (like paying for housing, food, and transportation) are factored into the EFC calculation, there is a certain level at which they are included.

“Somewhere in their calculations there’s so much allowed for food and housing… so it’s not totally omitted,” Giesecke said. “It may seem that way, but it’s not.”

For students who face this problem of remaining costs after loans and scholarships, there are still options. Financial Aid Specialist Terri Faver said there are other alternatives than just paying out of pocket.

“Students can apply for a Parent Plus Loan, in which the parent is the borrower,” Faver said. “If for any reason the parents are denied a loan, we automatically offer the student other additional loans.” She also said that some students may choose to take out a personal loan through a bank.