The calculation of need is based on a formula including income and family expenses, assets and liabilities, family size, parents’ ages, cost of living, and the number of children for whom a family must pay tuition. Pike’s Financial Aid Committee reviews the information received from SSS, combines it with tax and any explanatory material provided, and formulates an individual calculation of funds that a family can contribute toward tuition. The amount of a financial aid grant is designed to bridge the gap between a family’s contribution and Pike’s tuition.