Determining Your Financial Aid
Reynolds calculates financial aid eligibility based on the number of credits for which you enroll:
Full-time: 12 or more credit hours
3/4 Time: 9-11 credit hours
1/2 Time: 6-8 credit hours
Less than 1/2 Time: 1-5 credit hours
A student's financial aid will NOT be increased for classes added after the regular session drop/add period if the student has a regular session starting class(es).
Cost of Attendance
When computing financial aid eligibility, the first figure used is the cost of attendance. The Financial Aid Office determines the estimated amount it will cost you to attend the institution.
The cost of attendance consists of both direct and indirect expenses. Direct educational expenses are tuition and fees, books and supplies. Indirect educational expenses are projected transportation and living expenses. Also included, with appropriate documentation, may be dependent care expenses, expenses related to a handicap, and expenses related to the purchase of a computer.
Tuition and fees are based upon the following factors:
- Domicile (in-state or out-of-state)
- Enrollment level (full-time, three-fourths-time, half-time, less-than-half time)
There are three categories for the living expense allowance:
- Dependent students who live with parents,
- Dependent students who live outside the parental home, or
- Independent students
These allowances include amounts for room and board, personal maintenance, health care, clothing, and other miscellaneous expenses.
The living expenses of your spouse and/or dependents (if applicable) are taken into account on the FAFSA when calculating your expected family contribution, and therefore cannot be included in the determination of cost of attendance.
Expected Family Contribution
A federally-mandated formula calculates the expected family contribution from the information on your FAFSA. Included are such factors as taxed and untaxed income, family size, number in college, savings and investments, and certain other assets. The expected family contribution is computed from two-year prior income tax return information. For example, for the 2020-21 academic year, the 2018 income tax return data is used. If there has been a significant change in your family's income or resources since the applicable income tax year, you may inquire about a Special Consideration. See the Forms/Documents page.