Financial Aid at Hiram
Hiram College ’s financial aid program enables qualified students with financial need to attend Hiram. Financial need is the primary criterion considered in awarding aid. Need is defined as the difference between the total cost to attend Hiram and the amount your family can reasonably be expected to pay. The cost of attending Hiram includes tuition, fees, room and board. The actual costs for 2006-2007 are outlined in the “2006-2007 Fees and Charges” section of this catalog. The Free Application for Federal Student Aid (FAFSA) is used to determine each family’s ability to pay for college expenses. The FAFSA takes into account various factors, including parental income and assets, student’s savings and summer earnings, family size, parents’ age, and other children in college. All financial aid awards are made on a one-year basis; each year a new FAFSA is used to determine eligibility for aid. A student receiving aid at the time of admission to Hiram may expect to continue receiving assistance as long as financial need continues, financial aid resources are available, and a satisfactory academic progress is made. If financial need rises during your college career, you can expect financial assistance to increase, providing financial aid resources are available. Financial assistance will decrease if there is a reduction in your financial need. The FAFSA provides the specific family and financial information used to calculate the family contribution and financial aid for each student. Transfer students and upper-level students who were not awarded aid when they entered Hiram may apply for and receive aid if they demonstrate financial need and if funds are available. Additional student consumer information is made available for free annually in the Student Financial Aid Handbook available on the Hiram College Financial Aid website ( hiram.edu/finaid ) or in printed form upon request. We believe that all families should be willing to invest in the students’ Hiram education by using financial resources, educational loans, and student employment. Hiram supplements loans and employment with scholarships and/or Hiram College Grants. Financial aid awards at Hiram are generally a combination of loans, work-study, scholarship, and need based grants.
How to Apply
By submitting the FAFSA you will be considered for programs administered by the College for which you are eligible except for merit-based scholarships. All financial aid applicants should submit the FAFSA to the federal processor and can apply online at www.fafsa.ed.gov. Filing of the FAFSA is free. In addition, incoming students must also be accepted for admission to Hiram to receive a financial aid offer.
Tuition Guarantee
The Hiram College Tuition Guarantee ensures that the annual cost for tuition and fees will not increase between the first year a student is enrolled at Hiram and the student's senior year. While students at other institutes of higher education are never certain what type of annual tuitionincrease they will encounter, Hiram students will know: there will be no increase. For information, visit http://www.hiram.edu/tuitionguarantee/ .
Hiram College Grants
Hiram College Grants are awarded on the basis of financial need. Funded by the College, they are renewable if financial need continues and satisfactory academic progress is made. All students must reapply annually through the FAFSA. Students filing the FAFSA after the published priority deadline have the potential to lose financial aid. Please check the Hiram College Financial Aid Handbook for specific deadline dates ( hiram.edu/finaid ).
Hiram College Scholarships
For eligible incoming freshmen, Hiram College offers merit scholarships of varying monetary value. These scholarships are awarded on the basis of academic excellence and are listed in the section of this document entitled “Hiram College Merit Scholarships.” In addition, Hiram College offers merit scholarships through endowed and annual gift funds. These scholarships are awarded based on specific criteria and are listed in the “Scholarship” section of this document entitled “Awards from Endowment for Upper-class Students” and “Annual Awards for Upper-level Students.”
Federal Pell Grants
Pell Grants were established by the Higher Education Act of 1972. Grants may range from $400 to $4,050, but the actual amount available each year depends on congressional action. Eligibility will be determined by measuring the family’s ability to pay for higher education. Eligibility is determined through the FAFSA which is available online or from high schools, libraries, and the College.
Federal Supplemental Educational Opportunity Grants
Supplemental Educational Opportunity Grants, funded jointly by the federal government and Hiram College , are designed for students who would be unable to attend college without the assistance of the grant. Eligibility is determined through the FAFSA.
Federal Academic Competitiveness Grant
New grants starting with the 2006-2007 academic year, the Federal Academic Competitiveness Grants (ACG) are funded by the federal government through the Higher Education Reconciliation Act of 2005 (HERA). First-year students are eligible for awards up to $750 and second-year students are eligible for awards up to $1,300. Eligibility is determined by the FAFSA, as well as whether the student attended a rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education. In addition to the above criteria, the student must also be eligible for the Federal Pell Grant and second year students must have a cumulative grade point average (GAP) of at least 3.0.
Federal Science and Mathematics Access to Retain Talent Grant
New grants starting with the 2006-2007 academic year, the National Science and Mathematics Access to Retain Talent (SMART) Grants are funded by the federal government through the Higher Education Reconciliation Act of 2005 (HERA). Third and fourth year students are eligible up to $4,000. Eligibility is determined by the FAFSA, as well as whether the student is majoring in physical, life, or computer sciences, mathematics, technology, engineering or in a foreign language critical to national security. The student must have a 3.0 cumulative GPA, as well as being eligible for the Federal Pell Grant.
State Grants
Students who are residents of Ohio may be eligible for Ohio Instructional Grants. These grants are provided by the State of Ohio and range in value up to $5,466 per year. The State of Ohio determines eligibility and amounts of awards. Ohio residents who submit a FAFSA are considered for Ohio Instructional Grants. In addition, Ohio Choice Grants are available for Ohio residents attending private institutions full-time in Ohio . No application is necessary. The amount of the Ohio Choice Grant varies each year, and are approximately $1,000. Certain other states offer state grant programs which allow their residents to use such grants at out-of-state schools. For further information, contact your high school guidance counselor or local state agency.
Campus Employment
Campus employment is funded by the Federal Work-Study Program and by the College. Students are considered for jobs on the basis of interest, skills, and experience. Student employment is considered to be of great value to the student as well as essential to the on-going work of the College. Many financial aid recipients work and approximately three-fourths of all workers are financial aid recipients. Non-aid workers will be considered for jobs on the basis of the time of application, skills, and interest. Typical employment includes library service, dining hall service, assisting in departments and/or science laboratories, secretarial or clerical work, and campus maintenance. For more information, visit the student Job Central Web site at http://sjc.hiram.edu .
Loans
Hiram administers the Federal Perkins Loan and the Federal Family Educational Loan Program (FFELP) which includes Subsidized Stafford Loans, Unsubsidized Stafford Loans, and PLUS Loans (Parent Loans for Undergraduate Students). Stafford Loans (Subsidized and Unsubsidized) and Plus Loans are funded through private lending institutions and guaranteed through the federal government. The Federal Perkins Loans are funded through the federal government by the repayment of previous borrowers with Hiram College administering the program. All of these loans have different eligibility requirements, interest rates, repayment rates, etc. and regulations governing their use change frequently. Current information is available from the Office of Student Financial Aid and in Hiram College Financial Aid Handbook. In addition to the federal loans, Hiram College administers two special use college loan programs: the Kennedy Loan Fund and the Trustee Loan Fund. Information regarding eligibility for these loans may be obtained from the Office of Student Financial Aid.