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Calculating Your Financial Need

Knox calculates your financial aid award based on your financial need. Your financial need is determined by using Knox's cost of attendance and the results of your Free Application for Federal Student Aid (FAFSA) which determines your family's ability to pay. The formula used in the FAFSA takes into account adjusted gross income, non-taxable income, federal and state taxes, assets, household size, and the number of students in college.

Approximately 69 percent of new (U.S. first-year) students entering in the fall of 2008 qualified for financial aid based on need. The following chart reflects awards received by students in Fall of 2008.

Number and Range of Awards Received by Enrolled First-Year Students for Fall 2008 who demonstrated financial need. Awards include scholarships, grants, loans (subsidized and unsubsidized), and student employment .

 

Total Family Income Number Applied Number Awarded Average Award Award Range
$0 - 17,999 22 22 $36,241 $30,908-
$40,203
$18,000 - 35,999 15 15 $33,622 $28,892-
$39,492
$36,000 - 53,999 31 31 $32,600 $23,059-
$39,360
$54,000 - 71,999 25 25 $29,141 $15,277-
$36,830
$72,000 - 89,999 38 38 $23,983 $12,500-
$37,785
$90,000 - 107,999 25 25 $21,595 $14,800-
$32,005
$108,000 - 125,999 29 29 $17,313 $10,000-
$30,662
$126,000 - 143,999 13 13 $16,424 $10,500-
$25,600
$144,000 and over 20 20 $16,259 $9,937-
$22,000