FINANCIAL AID/SCHOLARSHIPS
Financial need is the difference between the cost of attending a particular university or college and the total amount a student and his/her family can be expected to provide for educational expenses. Educational expenses include tuition, fees, books and transportation, and personal and living expenses.
Financial assistance in the form of loans, grants, scholarships, and work/study employment is available to qualified students who are unable to pay the entire educational expense.
The Financial Aid Office evaluates each applicant's particular financial situation and selects a financial aid package which will meet the need to the extent available funds allow. The financial aid program does not discriminate on the basis of sex, race, religion, or physical ability. Heritage University will endeavor to meet the demonstrated financial need of each qualified student with a program of work, loans, grants, and scholarships to the extent possible.
Eligibility
In general, to be eligible for aid, a student must meet the following criteria:
1. Be enrolled at least half-time (minimum of 6 credits/term) as a regular student; some campus-based aid may be available for less than half-time under special conditions;
2. Be officially admitted for enrollment in an eligible program as a graduate or undergraduate student at Heritage;
3. Be (a) a U.S. citizen or national; or (b) a permanent resident of the U.S.; or (c) providing evidence from the Immigration and Naturalization Service that s/he is in the United States for other than a temporary purpose with the intention of becoming a citizen or permanent resident; or (d) a permanent resident of Palau or citizen of Marshall Islands in post-secondary education in U.S. on 10/20/86; or citizen of Federated States of Micronesia in post-secondary education in U.S. on 11/2/86 (eligible for Pell, SEOG, FWS only);
4. Be in need of financial assistance, as determined by a specific need analysis;
5. Have maintained satisfactory progress in the course of study s/he is pursuing according to the standards and practices of the U.S. Department of Education and the University's Financial Aid Office;
6. Not owe a return of Title IV funds or repayment on a Federal Pell Grant, Federal SEOG, or a repayment of Washington State Need Grant received to meet the cost of attending that institution or any prior institution;
7. Not be in default on any Federal Perkins Loan, Federal Stafford Loan, Federal Direct Loan, SLS, P.L.U.S. Loan, any other loan through the Federal Family Education Loan Program or other federal or state loan received to meet the cost of attending Heritage University or any prior institution;
8. Be a high school graduate, has earned a G.E.D., or has achieved junior standing (received an A.A. degree or has 60 or more transfer credits).
Determining Need
Two factors affect a student's eligibility for financial aid: the cost of attendance and the expected contribution from income and assets of the student and his or her family. The formula is as follows: cost minus family contribution equals need. The need determines the maximum amount of financial aid awarded.
The total cost of attendance will depend upon several factors, such as marital status, whether there are children supported by the student, and whether the student is dependent on his or her parents. For a dependent student, the expected family contribution would include the parents' contribution and the student's contribution. Single students under 24 years of age are considered to be dependent unless they meet certain criteria involving veteran's status, having dependents of their own, etc. For the independent student, the resources would usually include only the student's contribution and the spouse's. See Federal Financial Aid “The Student Guide” or FAFSA for details.
The family's contribution is officially calculated from the Free Application for Federal Student Aid (FAFSA) which requires up to 6 weeks for processing and may be submitted by mail or on the World Wide Web. This analysis determines the family's expected contribution.
Once the need has been determined by subtracting family contributions from the expenses, a combination of loans, grants, scholarships, and/or employment is packaged to meet the need. The composition of the package will depend upon the need level, eligibility requirements for the various programs, meeting of deadlines for various programs, availability of funds, and student choice to the extent possible.
Application Process
To be considered for maximum funding for each academic year, admission application and FAFSA must be sent in by February 10th.
To apply for financial aid at Heritage University, all applicants must submit the following forms:
1. Application for admission—the student must be officially admitted before financial aid will be awarded;
2. Free Application for Federal Student Aid (FAFSA) on the Web at www.fafsa.ed.gov or by mail;
Purpose: Analysis of financial need
Fee: None. Sent directly by student to address on form or apply on the Web
3. Heritage University Financial Aid Supplement, available in the Financial Aid Office;
Purpose: Necessary for obtaining additional information not on FAFSA
Recommended for everyone applying for aid, required for most forms of aid
4. Verification Worksheet and other required documents—students selected for verification will be asked to provide additional documents as needed. Call the Financial Aid Office, (509) 865-8502, for additional information.
FINANCIAL AID PROGRAMS
Grants
1. Federal Pell Grant
Amount: up to $4,310 yearly (2007-08), as set by federal government
Qualifications: Demonstration of financial need; undergraduate
Donor: Federal Government through Congressional appropriation.
Applicable: To any college costs, awarded on basis of cost of college
Form: FAFSA form, available in high school counseling offices, college admissions and financial aid offices, public libraries, or on the Web at www.fafsa.ed.gov
2. Federal Supplemental Educational Opportunity Grant (FSEOG)
Amount: $100 or more up to $4,000 yearly, average award at Heritage $400
Qualification: Undergraduate, financial need
Donor: Federal Government
May be used for any college costs
Form: FAFSA, available as above
3. Academic Competitiveness Award (ACG)
- Full-time, Pell eligible, US citizens
- graduate from “academically competitive” high school with 3.0 GPA
- First time freshman & sophomores only
- $750 first year, $1300 second year
4. Science and Mathematics Access to Retain Talent Grant (SMART)
- Juniors & seniors in math, science, technology, some languages
- Full-time, Pell eligible, US citizens, 3.0 GPA
- $4,000 per year
5. Washington State Need Grant (WSNG)
Amount: To be set by State Legislature each biennium, available in limited numbers depending on state funding
Qualification: Demonstration of extreme financial need for Washington State residents who are at least half-time undergraduate students
Donor: State of Washington with matching funds from the federal government
May be used for books, transportation, child care expenses, or room and board, or tuition at student's request
Form: FAFSA
6. Veterans Benefits -- The University's V.A. Certification Office assists veterans, their dependents and service personnel in obtaining educational benefits from the Veterans Administration.
Total financial aid award cannot exceed demonstrated need.
Loans
1. Federal Perkins Loan
Amount: Up to $4,000/year, to $20,000 toward baccalaureate degree; $6,000 per year, $40,000 aggregate toward professional or graduate degree (including undergraduate total)
Interest: 5% annually, accruing nine months after leaving college
Repayment: Begins nine months after leaving college, with 10 years to pay
Deferment: For Peace Corps, Vista volunteers, military, student status, or hardship
Cancellation: Under certain teaching situations, social work and law enforcement, contact Perkins Loan Officer in the Business Office
Forms: FAFSA and a required loan application through Heritage University Business Office.
Administrator: Heritage University
2. Federal Stafford Loan-Subsidized and Unsubsidized
Amount: Up to $3,500 first year undergraduate, $4,500 second year undergraduate, $5,500 third and fourth year undergraduate, $8,500/year graduate study for 2007-2008; Interest is subsidized during enrollment period (for Subsidized Stafford only); Accrues six months after leaving school at set interest rate with 10 years to pay (rates set primarily by federal government)
Deferments for at least half-time student status, unemployment, and economic hardship, etc.
Forms: FAFSA, loan application through bank, credit union, or savings and loan association. Application form will be sent by Heritage University Financial Aid Office through Guarantee Agency. Administrator: Bank, credit union, or savings and loan association; the loans are long-term with low interest rates. Repayment on the long-term loans begins six months after the student graduates, leaves school, or drops below half-time status, with 10 years to repay.
3. Unsubsidized Federal Stafford Loan
Long-term loans are available for students who do not qualify for Subsidized Stafford or who elect to receive an additional loan. They are not available to dependent students except under unusual circumstances.
Interest: Rates are set by the federal government
Amount: $4,000 annual loan limit first and second years; $5,000 third, fourth and fifth years; the graduate student limit is to $12,000 for the 2007-2008 year
The annual unsubsidized limit will increase $7,000 in 2007-2008 for the following categories of students:
- Students with undergraduate degrees who are enrolled in coursework necessary for a professional credential or certification for employment as a teacher;
- Students with undergraduate degrees who are enrolled in courses that will prepare them to enter a graduate program.
Deferments: Study at half-time or more, unemployment, economic hardship, etc.
See the Financial Aid Office for a complete list
Administrator: Same as subsidized Stafford
Repayment: Interest is not subsidized by the federal government; therefore the repayment period begins on the date the loan is disbursed and interest begins to accrue on that day. May be deferred
4. Parent Loan for Undergraduate Students (PLUS): Unsubsidized loan taken by parent for a dependent student. Terms and conditions similar to Unsubsidized Stafford but parent take out the loan (not student). Limits: Up to the student's budget less other awarded aid
5. Grad PLUS loans are available to qualifying graduate students. This loan is not based on financial need, so Grad PLUS borrowers can apply for a loan amount up to the full cost of education, less other aid received. However, Heritage University requires that you apply for financial aid before you apply for a Grad PLUS loan. A credit check is required for a Grad PLUS loan.
6. Emergency short-term loans: $75 maximum for personal expenses, consult EAGLES Program; funded through donations to the Heritage University Student Emergency Loan Fund
Employment
1. Federal Work-Study—available only to the student with demonstrated financial need. The federal government subsidizes a percentage of the student's on-campus wages; the University pays the balance. Percentage may vary from year to year (2007-08 was federal 75%, college 25% at Heritage University)
2. Off-campus employment through Federal Work-Study (FWS) Program or State Work-Study (SWS) Program—students may be placed in off-campus employment with qualified employers. The State Higher Education Coordinating Board (for SWS) or the Federal Government (for FWS) reimburses the employer a percentage of the student's wages. Funding for both programs is limited. Student applies through FAFSA and EAGLES Program's Career Services.
Scholarships
Heritage University awards a number of scholarships each year from University funds and donations from outside corporate and private sources. These scholarships range from $100 to $5,000 per academic year. Awards are generally made based on some combination of need plus academic performance and/or leadership qualities.
In addition, Heritage University makes available information on scholarships from organizations outside of the institution as it comes available. The EAGLES Program provides assistance in researching and applying for other scholarships.
YEARLY REAPPLICATION
Aid is granted for a period of one academic year at a time. Re-application is needed each year. Complete the FAFSA and apply in the winter or early spring for fall attendance. For maximum funding consideration, apply by February 10th.
SAMPLE STUDENT BUDGET
The following sample budget may be used as a guide in estimating college expenses for the purposes of financial aid.
Heritage University Undergraduate Student Budget 2007-2008
All Undergraduate Campuses
Living with parent(s) Living Away from parent(s)
Nine Months (Dependent) (Independent or Dependent)
Tuition & Fees (24 credits) 9,720 9,720
Books and Supplies 924 924
Rent/Food/Utilities 2,598 8,052
Transportation 1,839 1,839
Personal 1,590 1,941
TOTAL (9 mos. Year) 16,671 22,476
Undergraduate enrollment status per semester is:
12 or more credits per semester = full-time undergraduate status
9-11 credits per semester = 3/4-time undergraduate status
6-8 credits per semester = 1/2-time undergraduate status
5 credits and below = less than 1/2-time status
Graduate enrollment status per semester is:
6 or more credits per semester are equal to full-time graduate status.
4 or 5 credits per semester are equal to 3/4-time graduate status.
2 or 3 credits per semester are equal to 1/2-time graduate status.
Additional Allowances:
Dependent Care/Child Care may be added. These are restricted to costs directly resulting from the student's attendance at college.
RIGHT TO MAKE CHANGES
Heritage University reserves the right to make changes in procedures, policies and charges related to its tuition and aid programs. Announcements concerning changes are made available in the Student Service Center.