Your Financial Aid Offer
Your financial aid offer is based on a comprehensive review of the data contained in your financial aid application. Given your level of demonstrated financial need, we have offered you the full array of financial aid for which you are eligible in a manner that is equitable and consistent for all students.
Types and Sources of Aid
Financial aid funds come from a variety of sources, including 91自拍论坛, federal and state government programs, and private organizations.
- Grants/Scholarships: Awards that don鈥檛 have to be repaid 鈥� often called 鈥済ift aid.鈥�
- Work Study: Money that can be earned by working on campus and can be used to pay your college costs. Student work-study opportunities are often posted on hope.edu/handshake (Hope email credentials required).
- Loans: Funds that you must repay after you stop attending college or drop below half-time status.
Facts About Federal Direct Loans
The Federal Direct Loan Program includes both subsidized and unsubsidized student loans.
- Subsidized loans have no interest charged while you are enrolled at least half-time. Eligibility is based on demonstrated financial need.
- Unsubsidized loans accrue interest on the principal amount of the loan from the date of disbursement until the loan is paid in full. You have the option of either paying the accruing interest while in school or deferring the payment of interest.
Repayment of principal (and deferred interest) begins six months after you leave school or drop below half-time status. Information regarding repayment options, current interest rates and fees is available at .
First-time borrowers are required to complete the Entrance Loan Counseling and a Master Promissory Note (MPN) at .
In combination, your subsidized and unsubsidized loans may not exceed the following undergraduate annual limits:
| Dependent Students | Independent Students | |
|---|---|---|
| Freshman | $5,500 for the year (maximum $3,500 subsidized) |
$9,500 for the year (maximum $3,500 subsidized) |
| Sophomore | $6,500 for the year (maximum $4,500 subsidized) |
$10,500 for the year (maximum $4,500 subsidized) |
| Junior / Senior | $7,500 for the year (maximum $5,500 subsidized) |
$12,500 for the year (maximum $5,500 subsidized) |
| Aggregate Limit | $31,000 (maximum $23,000 subsidized) |
$57,500 (maximum $23,000 subsidized) |
Policies and Conditions of Your Aid
As you review your financial aid offer, it is important to review the following information:
- Your financial aid is based on your enrollment as a degree-seeking, full-time student.
- Your housing arrangements may impact your eligibility for financial aid. If you change your status from on-campus resident to commuter at any time, your aid eligibility will be reviewed and your aid may be adjusted.
- In order to continue receiving financial aid, you must make Satisfactory Academic Progress (SAP). Failure to meet the terms of the SAP Policy may result in cancellation of your aid.
- In accepting our offer of financial aid, you authorize the Office of Financial Aid to discuss your aid with other agencies from which you might receive assistance. You also authorize us to release your cumulative GPA to other 91自拍论坛 offices and/or outside agencies that are considering you for additional financial aid.
- Renewal of Aid and Continued Eligibility
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To be considered for need-based financial aid, you must submit the Free Application for Federal Student Aid (), to 91自拍论坛 by the stated deadlines each year. Renewal of your aid will be determined after your academic record has been reviewed and you have submitted all necessary applications and requested documentation.
Awards normally remain constant if your financial need remains similar from year to year. Occasionally, however, a student鈥檚 financial aid eligibility changes from the previous year.
Common factors that can reduce your eligibility from the previous year are:
- An increase in your income or your parents鈥� income
- A decrease in the number of family members supported within your household or your parents鈥� household
- A decrease in the number of family members in college
- An increase in your assets or your parents鈥� assets
Renewal of Hope merit scholarships is determined at the close of the spring semester of your sophomore year and again at the close of each spring semester thereafter. Your original scholarship letter included specific renewal criteria, such as required cumulative GPA and award duration.
- Negotiation Policy/Appeal
-
While some colleges engage in the practice of negotiation for additional assistance, 91自拍论坛 does not negotiate financial aid packages, including the use of comparison financial aid award letters from other colleges.
- Important Federal/State Requirement
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You are required to report to 91自拍论坛 any scholarships, grants, loans or tuition benefits not already reflected in your aid notice that you receive to assist in paying your educational expenses during the academic year. An adjustment to your aid may be necessary to keep your total assistance within your financial aid eligibility.
If you receive such assistance at any time during the academic year, you are required by federal and state law to notify the 91自拍论坛 Office of Financial Aid.
- Special or Unusual Circumstances
- If you experience special or unusual circumstances that significantly alter your and/or your family's financial condition, please contact the Office of Financial Aid immediately. Such changes could include the death of a parent, divorce or involuntary loss of employment. Your situation will be reviewed and your aid may be adjusted accordingly.
MANAGING yOUR rEMAINING cOSTS
Hope Installment Plan
91自拍论坛 offers a payment plan allowing you to pay your out-of-pocket expenses in four interest-free installments each semester.
Additional Loan Options
Be sure you understand the terms and benefits of each loan you are considering. It is extremely important to be aware of all possible rates, fees, grace periods, repayment terms and borrower benefits before you make a decision about a loan.
- Federal Parent PLUS Loan
- The U.S. Department of Education offers this loan option to parents (or stepparents) of undergraduate students to assist in financing the remaining expenses of a student's education. Interest is charged on the loan from the time it is fully disbursed until it is paid in full. You may choose to pay the interest while in school or postpone the interest payments and allow the interest to be capitalized. Visit studentaid.gov.
- Private Education Loan
- Private education loan programs are designed to supplement a student鈥檚 awarded financial aid. Offered by various lending institutions such as banks and credit unions, these loans are typically creditworthy options that require a co-signer at the time of application. Students can apply online through the lender鈥檚 website. The interest rates and terms (fixed or variable) vary depending on the institution. Compare loan options at hope.edu/privateloans.