Hiram College’s financial aid program enables qualified students with financial need to attend Hiram. 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.
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 2019-2020 are outlined in the "2019-2020 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, your application will be re-evaluated and provided financial aid resources are available, you may see an increase to your financial assistance. Financial assistance can also 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.
In order to receive federally funded financial aid, incoming students are required to provide proof of federally recognized secondary education completion by the second Friday of their first term of enrollment. Federal financial aid will not be disbursed until this documentation is received by the Registrar's Office. Please see the Financial Aid Handbook for more information.
Upper-level students who were not awarded need-based aid when they entered Hiram may apply for and receive aid if they demonstrate financial need and if funds are available.
The Higher Education Opportunity Act requires each institution to provide certain consumer information, which is made available annually online each fall. This information is available online at http://www.hiram.edu/about/profile/consumer-info. Instructions on how to access the information can also be found in the Financial Aid Handbook, available on the Hiram College Financial Aid webpage http://www.hiram.edu/admission/financial-aid/documents-and-resources or in printed form upon request by calling the Financial Aid Office at 330-569-5107.
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.gov. There is no fee for submitting the FAFSA. In addition, new and transfer students must also be accepted for admission to Hiram in order to receive a financial aid offer. The FAFSA filing priority deadline for returning students is June 1. FAFSA applications received after this priority deadline are reviewed on a rolling basis and may be subject to reduced aid eligibility.
The Hiram College Tuition Guarantee ensures that the annual cost for tuition will not increase for the four years a student is at Hiram. While students at other institutes of higher education are never certain what type of annual tuition increase they will encounter, Hiram students will know: there will be no increase. For information, visit www.hiram.edu/tuition-guarantee/.
Academic Progress and Financial Aid Eligibility
Students must make academic progress towards completing their degree to continue being eligible for all sources of financial aid. This policy is separate from the college’s academic standing policy monitored by the Academic Review Board (ARB).
In general, students must maintain a 2.0 cumulative GPA and successfully complete 67% of the cumulative credits attempted. Students eligible for the Choose Ohio First Scholarship must maintain a 3.0 cumulative GPA. Academic progress is reviewed on a semesterly basis and failure to meet this requirement can result in the loss of all financial aid. Detailed information is available in the Financial Aid Handbook, available online at http://www.hiram.edu/financial-aid/documents-and-resources or by contacting the Financial Aid Office.
Hiram College Grants (Need-based)
Hiram College Grants are awarded on the basis of financial need. Funded by the College, they are renewable if financial need continues and if satisfactory academic progress is made. All students who wish to receive College Grants 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 at http://www.hiram.edu/admission/financial-aid/documents-and-resources.
A portion of the funding for the Hiram College Grant is provided by the generous contributions of alumni, friends of Hiram College, and others. You may find that all or a portion of your current Hiram College Grant may take a more visible form as a named scholarship during the academic year. Also, as Stafford loan eligibility increases, you will be expected to borrow more and your Hiram College Grant may be decreased by this increased loan availability.
Hiram College Scholarships (Merit-based)
For eligible incoming freshmen and transfer students accepted into the Traditional College, Hiram College offers merit scholarships of varying monetary value. These scholarships are awarded on the basis of academic excellence. For details about the various types of scholarships available, see the information online at https://www.hiram.edu/academics/undergraduate/scholarship-grants/
Federal Pell Grants
Pell Grants were established by the Higher Education Act of 1972. Grants range from $657 to $6,195, but the actual amount available each year depends on congressional action. Eligibility is determined by the federally determined EFC after completing the FAFSA and the award amount is based upon the Federal Pell Grant chart issued for the specific award year by the Department of Education. For the 2019-2020 academic year, student’s whose EFC is between 0 and 5576 are eligible for a Federal Pell Grant, provided they are enrolled full-time. Students that are enrolled less than full-time will have their Federal Pell Grant prorated.
Federal Supplemental Educational Opportunity Grants
Supplemental Educational Opportunity Grants, funded jointly by the federal government and Hiram College, are designed for Pell-eligible students who would be unable to attend college without the assistance of the grant. Eligibility is determined through the FAFSA.
Students who are residents of Ohio may be eligible for grant and scholarship funding from the Ohio Board of Regents. The main grant that many Hiram students are eligible for is the Ohio College Opportunity Grant. This grant is provided by the State of Ohio to high need students and range in value up to $3,500 for full-time enrollment. The grant is prorated for students attending less than full-time. A listing of all current programs offered through the State of Ohio is available online at https://www.ohiohighered.org/sgs.
Certain other states offer state grant programs which allow their residents to use such grants at out-of-state schools. Some of these states include Pennsylvania and Rhode Island. For further information and to see if your state grant can be used outside of your residential state, contact your high school guidance counselor or local state agency.
Campus employment is funded by the Federal Work-Study Program and by the College. Students are considered for jobs on the basis of interests, skills, and experience. Federal Work-Study is a need-based employment program and is included as part of a student’s financial aid award. Students not eligible for the federal work-study program still have the ability work on-campus through our campus employment program. Typical employment includes library service, dining hall service, assisting in departments and/or science laboratories, secretarial or clerical work, and campus maintenance. Students receive a bi-weekly paycheck for hours previously worked and can elect to have their earnings applied to their student account as it is earned. For job listings via Student Job Central, log on to the Hiram College Portal at https://my.hiram.edu.
Student loans are available through the Federal Direct Loan Program, which includes Subsidized Loans, Unsubsidized Loans, and PLUS Loans (Parent Loans for Undergraduate Students). These loans are funded and guaranteed through the federal government. When the student completes the FAFSA, their financial aid award letter will include their eligibility for their Stafford Loan eligibility. Parents of interested in applying for the PLUS loan should log on to http://www.hiram.edu/financial-aid/loan-information.
In addition to the federal loans, Hiram College administers two special-use college loan programs: the Kennedy Loan Fund and the Trustee Loan Fund. Both of these loan funds are used as “last dollar” funds, after all other loan options have been exhausted and/or denied. Information regarding these loans, including further eligibility criteria and application process, can be obtained from the Financial Aid Office.
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 Financial Aid Office, on our website (www.hiram.edu/admission/financial-aid/loan-information), and in the Hiram College Financial Aid Handbook.