Financial aid is awarded on the basis of financial need, except for some student loan programs.  When you apply for federal student aid, the information you report is calculated using a formula established by Congress.  The formula determines your Student Aid Index (SAI), an amount you and your family are expected to contribute toward your education (although this amount may not exactly match the amount you and your family end up contributing).  If your SAI is below a certain amount, you may be eligible for a Federal Pell Grant, assuming you meet all other eligibility requirements.

There is not a maximum SAI that defines eligibility for the other financial aid programs.  Instead, your SAI is used in the following equation to determine your financial need:

Cost of Attendance Formula

The formula for determining a student’s need remains the same, except that EFC has been replaced by SAI and EFA has been replaced by OFA

When determining a student’s need, an institution will use the following formula:

Cost of Attendance (COA) - Student Aid Index (SAI) - Other Financial Assistance (OFA) equals need.

(COA – SAI – OFA = Need)

Based on your financial need, Oxnard College may offer a mix of:

  • Grants (federal, state, or college-based)
  • Scholarships
  • Work-study opportunities
  • Federal student loans

Please note: Due to limited funding, not all students may receive aid that covers their full financial need.

We calculate your cost of attendance and subtract the amount you and your family is expected to contribute toward that cost.  If there is anything left over, you are considered to have financial need. A financial aid package is put together for you that comes as close as possible to meeting your financial need.  However, because funding is limited, the amount awarded to you may fall short of the amount of which you are eligible.  Also, in determining your need for aid we must first consider other educational resources you are expected to receive during the school year.


Other Considerations

When reviewing your eligibility, we also consider any outside resources you may receive—like scholarships, tuition assistance, or other financial aid—which can impact the total amount of aid you're eligible for.

 

Enrollment Fees

College Budgets

Other Financial Assistance (OFA)