Financial Aid Award Guidelines

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Eligibility for Financial Aid

Stonehill College awards financial aid, as funds permit, on the basis of demonstrated financial need and academic performance. In keeping with the philosophy that the primary responsibility for financing an education rests with you and your family, the Office of Student Financial Assistance reviews your financial aid application to determine your family’s financial strength. Your Expected Family Contribution is the amount your family can reasonably be expected to contribute to the cost of your education for one year from assets, current income, and future income. The difference between your Cost of Attendance for one year and your Expected Family Contribution for that year is your Financial Need or Eligibility for Financial Aid. Although Stonehill attempts to meet Financial Need/Eligibility with funding from institutional, state, and federal resources, the College cannot guarantee to meet 100% of your need. Stonehill utilizes the Free Application for Federal Student Aid (FAFSA) to determine eligibility for government funds. Need-based awards for new students are tentative because they are based on unverified data provided in your FAFSA. Your award may be adjusted after receipt and verification of financial and household data requested by the College. In addition, if there is a change in information originally submitted on your FAFSA, your financial aid package may be impacted. It is your responsibility to notify the Office of Student Financial Assistance of any changes.

Private Scholarships

Per federal regulations, the receipt of private scholarships may affect a financial aid package. It is the student’s responsibility to notify the Student Financial Services of all private scholarships received so that it may be determined if these funds have an effect on other resources awarded.

Stonehill’s policy regarding private scholarships is as follows:

If required by federal regulations to adjust an aid package, the College will eliminate or reduce: 1) SEOG then Perkins/NIL LoanS; 2) Federal Work-Study; and 3) Federal Direct Student Loan, in that order. Stonehill gift aid will not be reduced unless the total of all gift aid exceeds federal need or billed costs.

Academic Progress

To receive or continue to receive financial aid funded by the state, the federal government, or the College (including loans, grants, jobs, scholarships), you must make satisfactory academic progress, which requires that you achieve and maintain a cumulative grade point average of at least 2.0 after two academic years of college attendance, and complete a minimum number of the total credits attempted.

Study Abroad

Enrollment in a program of study abroad approved for credit by Stonehill College may be considered enrollment at Stonehill for the purpose of financial aid. Any awarded Stonehill scholarships, need-based grants, and other financial aid are valid for costs associated with studying abroad as long as the tuition/fees and any applicable room and board charges are billed by Stonehill directly to the student and payable to Stonehill. Tuition Exchange Scholarships, however, are only partially transferable.

Full Time Attendance

Most Stonehill funded aid requires full time attendance. However, some government programs require only part-time attendance although amounts would be prorated. The definitions for enrollment status are as follows:

• Full time = 12 or more credits in a semester
• Three Quarter time= 9-11 credits in a semester
• Half time = 6-8 credits in a semester
• Less than half time= fewer than 6 credits in a semester