How Need is Determined
A student’s need is determined by subtracting the family contribution from the cost of attending the college. The family contribution includes support from parents, savings from previous earnings, liquid assets and the public or private assistance that may be available to the student.
Normal college expenses include tuition, fees, room and board, medical insurance, books, transportation, and miscellaneous living expenses. Any increase or decrease in college charges will automatically be considered in determining or revising a student’s financial aid award.
Cost of Education
Family Contribution
= Demonstrated Need
The budget used in calculating a student’s financial aid varies with changes in the costs of attending Guilford. Listed below is a typical budget (cost of education) for a student living on campus in the 2007-08 academic year.
Budgeted Expenses
Tuition and Fees $24,540
Room and Board $ 6,860
Books and Supplies $ 900
Transportation $ 750
Miscellaneous Living Expenses $ 1,100
Total $34,150