2015 INDEPENDENT STUDENT
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The Financial Aid Shopping Sheet is a standardized form developed by the U.S. Department of Education for prospective students to compare the estimated costs of colleges and the types and amounts of aid available. The costs listed are subject to change and aid is contingent upon the student meeting all eligibility requirements. The form below contains average award information for students who have not applied for admission to Essex County College.
 
If you are already a student at Essex County College and completed the 2015-2016 Free Application for Federal Student Aid (FAFSA), you may log into MYECC for a personalized Shopping Sheet. If you have not yet applied for admission to Essex County College, you may wish to use the Net Price Calculator to estimate the cost of attending our school.
Costs in the 2015-16 year
Estimated Cost of Attendance
$27,264 / yr
Tuition and fees
 
$
9,288
Housing and meals
 
11,076
Books and supplies
 
2,400
Transportation
 
2,700
Other education costs
 
1,800
Grants and scholarships to pay for college
Total Grants ("Gift" Aid; no repayment needed)
$8,419 / yr
What will you pay for college
Net Costs
$27,264 / yr
(Cost of attendance minus total grants and scholarships)
Options to pay net costs
Work options
Federal Work-Study
 
$
4,000
Loan Options
Loan Options*
Alternative loans, the only loans available at Essex County College, can provide students with additional funding to meet their educational costs. These loans are obtained through private lenders and must be repaid with interest. Eligibility is determined by the lender. The borrower may need to be credit worthy and have established annual income, or may need a co-signer. You may choose any financial institution (banks, credit unions etc.) that participates in educational loan programs. Start your search on the internet or contact your personal banker to learn more about Private Alternative Loans. For more information, see http://www.essex.edu/fa/programs/loans/
*Recommended amounts shown here. You may be eligible for a different amount. Contact your financial aid office.
Other options
Family Contribution
$0 / yr
(As calculated by the institution using information reported on the FAFSA)
Graduation Rate
Percentage of full-time students who graduate within 6 years
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7.8%
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Repaying your loans
To learn about loan repayment choices and work out your Federal Loan monthly payment, go to: http://studentaid.ed.gov/repay-loans/understand/plans
For more information
and next steps:
ESSEX COUNTY COLLEGE
Financial Aid Office
303 University Avenue
Newark, NJ 07102
P: (973)877-3200
E: financialaid@essex.edu
GLOSSARY
Cost of Attendance (COA): The total amount (not including grants and scholarships) that it will cost you to go to school during the 2015–16 school year. COA includes tuition and fees; housing and meals; and allowances for books, supplies, transportation, loan fees, and dependent care. It also includes miscellaneous and personal expenses, such as an allowance for the rental or purchase of a personal computer; costs related to a disability; and reasonable costs for eligible study-abroad programs. For students attending less than half-time, the COA includes tuition and fees; an allowance for books, supplies, and transportation; and dependent care expenses.
Total Grants and Scholarships: Student aid funds that do not have to be repaid. Grants are often need-based, while scholarships are usually merit-based. Occasionally you might have to pay back part or all of a grant if, for example, you withdraw from school before finishing a semester.
Net Costs: An estimate of the actual costs that you or your family will need to pay during the 2015–16 school year to cover education expenses at a particular school. Net costs are determined by taking the institution's cost of attendance and subtracting your grants and scholarships.
Work-Study: A federal student aid program that provides part-time employment while you are enrolled in school to help pay your education expenses.
Loans: Borrowed money that must be repaid with interest. Loans from the federal government typically have a lower interest rate than loans from private lenders. Federal loans, listed from most advantageous to least advantageous, are called Federal Perkins Loans, Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans. You can find more information about federal loans at StudentAid.gov.
Family Contribution (also referred to as Expected Family Contribution): A number used by a school to calculate how much financial aid you are eligible to receive, if any. It’s based on the financial information you provided in your Free Application for Federal Student Aid (FAFSA). It’s not the amount of money your family will have to pay for college, nor is it the amount of federal student aid you will receive. The family contribution is reported to you on your Student Aid Report, also known as the SAR.
Graduation Rate: The percentage of students who graduate from an institution. This shows students who began their studies as first-time, full-time degree- or certificate-seeking students and completed their degree or certificate within 150 percent of "normal time." For example, for a four-year school, the graduation rate would be the percentage of students who completed that program within six years or less.
Loan Default Rate: The percentage of student borrowers – undergraduate and graduate – who have failed to repay their federal loans within three years of leaving a particular school. A low loan default rate could mean that the institution’s students are earning enough income after leaving school to successfully repay their loans.
Median Borrowing: The amount in federal loans the typical undergraduate student takes out at a particular institution. It also indicates the monthly payments that an average student would pay on that amount using a 10-year repayment plan.