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Frequently Asked
Questions
about Tuition and Financial Assistance
WILL I BE ABLE TO AFFORD A PRIVATE
UNIVERSITY?
A common concern among parents and prospective students centers around the cost of a
private education. You may be wondering whether or not you can afford an education at
Huntington University.
Keep in mind the stated price of a private college education
is often misleading. The
more expensive the college, the more aid you may qualify for to make up the difference
between what your family is expected to contribute and the
price. Because the need is
greater, the financial aid is greater.
Over ninety percent of our students received financial aid during the
2005-2006
school year.
HOW DO I APPLY FOR FINANCIAL AID?
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You must be accepted for admission at Huntington
University before you can receive
financial aid consideration.
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Complete the Free Application for Federal Student Aid (FAFSA) as soon after January 1 as possible.
a. Pick up a FAFSA from your
high school guidance office or from Huntington University
or file the FAFSA on the Web by going to
www.fafsa.ed.gov.
b. Use your 2006 income tax returns to complete the FAFSA.
c. List Huntington
University as a school to receive your financial aid information.
Our
Federal School code is 001803.
d. Indiana residents must file the FAFSA
and it must be received at the processor by March 10th.
e. Out-of-state residents are encouraged to file the FAFSA prior to March 1 in order to
receive maximum consideration for aid.
f. If you did not list Huntington
University on your FAFSA, submit a copy of your student
aid report to the Financial Aid Office.
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Respond promptly to any requests made for additional information or documentation.
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WHAT IS THE PURPOSE OF FINANCIAL AID?
The primary purpose of the financial aid program at Huntington
University is to provide assistance to
students who wish to benefit from a higher education but cannot afford to do so without
help.
Federal aid programs are designed under the assumption that parents will, to the extent
they are able, take the primary responsibility to pay for their children's education.
Thus, financial aid programs are designed to help students who show a financial need.
HOW IS FINANCIAL NEED DETERMINED?
Financial need is based on the ability of the student's family to pay for college taking
into account such factors as income, assets, debts, and number of family members.
In order to determine your financial need, Huntington uses the Free Application for
Federal Student Aid (FAFSA). This will help us determine what your family is expected to
contribute toward your education. This figure is known as the Expected Family Contribution
(EFC).
The following equation illustrates how financial need is determined:
| Student Budget |
Includes: Tuition & fees, room,
board, books & supplies, transportation, and personal expense. |
| - EFC |
Expected Family Contribution based on FAFSA |
| - IM |
Institutional Methodology (Percentage of need HU
is able to meet) |
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Financial Need |
|
WHAT ARE THE SOURCES OF FUNDS AVAILABLE?
Financial aid can be divided into two categories:
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GIFT AID
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SELF-HELP AID
Gift aid is the most preferred source of funding because the awarded amount does not
have to be repaid - it is "free money." Funds for gift aid are provided by
federal and state governments, private organizations, and college funds. Generally, these
funds are awarded in the form of scholarships and grants.
Scholarships and grants are the only sources of
financial aid that do not require you to repay or earn the funds received. Grants are
usually awarded on a need basis. Scholarships may be awarded based on need, scholastics,
performance, religious affiliation, specific majors, etc.
Self-help aid must either be earned or repaid. Employment and
loans are the two categories under self-help financial aid. Employment is awarded in
the form of Federal Work-Study. A student must earn his/her employment award.
Students may be eligible for the following types of loans:
• Federal Stafford loan
- subsidized
- unsubsidized
• Federal Perkins Loan, and
• Federal PLUS Loans.
All of these forms of financial aid must be repaid.
Click here for a brief synopsis of types of aid and
eligibility requirements.
WHERE CAN I GET MORE INFORMATION?
Write: Financial Aid Office
Huntington University
2303 College Avenue
Huntington, IN 46750
Call: (260) 359-4015,
or 1-800-642-6493
Email: admissions@huntington.edu
Other helpful financial aid websites:
Back to Financial
Aid home page
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