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Message from the Dean
Financial Aid Home
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One of the fundamentals of financial aid is that it is first the responsibility of the family to pay for your education based on its financial ability to contribute. It is then the responsibility of the government or taxpayer to help you meet the rest of the cost of education as much as possible. This contribution is based on your family’s income and assets. (If your family’s income has changed be sure to read the last paragraph) Your “family” could include you and your parents or it could be just you if you are a single, independent student. Your answers to certain questions in the FAFSA determine if your parents should be expected to contribute toward your education. The costs toward which you are expected to contribute include your direct costs (tuition, fees, and books) and indirect costs (living expenses).
At LBCC we determine the average costs of attendance for different categories of students such as living with parents or not and California or out of state residents. These costs are updated yearly based on statistics from the government. We subtract your EFC from that cost to determine your financial aid eligibility or “need”. From that we subtract the amount of Federal Pell Grant (also determined from the EFC) and any other free money you may be receiving such as the Cal Grant. What is left is called your “unmet need”. That is the amount of “self help” aid that you can receive such as student loans or Federal Work-Study.
One other important factor you need to know about the EFC. It’s based on last year’s income such as 2007 income for the 2008-09 school year. That’s because it’s the last verifiable year and the government assumes for most people income doesn’t change from year to year. However, if your family’s circumstances have changed from 2007 and your income is substantially less now we can help you to have your EFC recalculated based on your current situation. Be sure to see a Financial Aid Specialist for help.
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