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- My name is Tony Sutphin. Im from the Office of Scholarships and Financial Aid here at George Washington University. And Im here today to talk to families and students about financial aid and the processes of what you need to go through and to give you a very basic understanding of the big world of filling out financial aid forms, scholarships, and things and how they work at George Washington. What is financial aid? Financial aid can come in many forms of things like grants, scholarships, institutional aid, as well as loans and outside scholarships. The purpose of financial aid is to help determine what the family or student can be eligible for at a school. And it starts with many processes of looking at things like grant, scholarships, loans, parent loans, and outside awarding. Definition of financial need is the cost of attendance for a school known as COA minus a thing called expected family contribution that comes from the free application for financial aid, is also called EFC,
