NCAN considers a public college to be affordable if its total in-state cost of attendance plus $300 in emergency expenses is lower than the combination of the institution’s average grant awards, the average federal loan disbursement and Federal Work Study award, the expected family contribution of the average Pell Grant recipient and summer wages.
“The formula is designed to show the student is doing everything right,” said Carrie Warick, NCAN’s director of policy and advocacy. “They’re taking advantage of all the opportunities available to them to fund their education and they’re still not able to meet those requirements.”
