Determining Eligibility
Wheaton determines the amount that a family can realistically be expected to contribute toward total college expenses by reviewing the family's overall financial circumstances as presented on the financial aid application. This needs analysis takes into account such factors as family income and assets, mandatory expenses (federal, state, and local taxes and Social Security payments, for example), extraordinary expenses, family size and the number of siblings attending undergraduate college. In addition to examining the family's current circumstances, the needs analysis attempts to assess the family's ability to finance college costs. Thus, families may meet their responsibility to the educational partnership through a combination of resources: savings, current income and, often, some long-term financing.
Wheaton also expects the student to pay a portion of his or her own expenses, from summer earnings, savings or other assets as well as from wages earned during the academic year. We typically expect students to contribute between $1,400 and $1,600 each academic year.
Together, the amount of the parents' responsibility and the student's resources make up the expected family contribution. The difference between the total cost of education (tuition, fees, room, board, books and supplies, and personal and travel expenses) and the expected family contribution is the student's eligibility for aid.