F12.2 Financial Aid Award

Finance

Effective Date: June 20, 2023
Last Reviewed: June 20, 2023

POLICY:

Stonehill College awards financial aid, as funds permit, on the basis of demonstrated financial need and academic performance.

PROCEDURE:

  1. Certain sources of gift aid are based solely on merit, and no financial aid application is required.
  2. Much of the aid awarded to Stonehill students is based on a combination of need and merit; and, in keeping with the philosophy that the primary responsibility for financing an education rests with the student, and family, the Student Financial Assistance Office reviews the financial aid application to determine a family’s financial strength. This strength is expressed as Expected Family Contribution – the amount the family can reasonably be expected to contribute to the cost of the student’s education for one year from savings, current income, and future income. The difference between a student’s Cost of Education for one year and the Expected Family Contribution for that year is the Financial Need or Eligibility for Financial Aid:
  3. Stonehill cannot guarantee to meet 100% of the student’s demonstrated financial need determined by their application for financial aid.
  4. Unless otherwise noted, students must file a complete financial aid application for each year in which they wish to apply for aid, to renew the assistance received in the prior year, or to be considered for any additional assistance.
  5. To be a candidate for scholarships, grants, loans, or work awards, the student’s financial aid application must be complete by the deadline established each year. To verify eligibility for the award(s) offered, students must provide documentation requested by the College, which may include copies of parental and student Federal Income Tax returns for the most recent year.
  6. It is the student’s responsibility to notify the Student Financial Assistance Office of any change(s) in information originally submitted on the student’s FAFSA (Free Application for Federal Student Aid) or Renewal FAFSA.

*Series change, previously G6.2