Types of Aid
Hope International University participates in many excellent programs of financial aid to assist students in fulfilling their higher education goals. Federal, State, and Institutional sources include the following:
- Cal Grants A and B
- Direct Loans (Federal)
- Federal Work Study (FWS)
- FSEOG (Federal Supplemental Educational Opportunity Grant)
- Pell Grants (Federal)
- Perkins Loans (Federal)
- PLUS Loans (Federal parent loans)
2013-2014: Hope International University Scholarships, Grants, and Other Aid (for traditional undergraduate students only):
- Presidential Scholarship (Freshman only) $12,000 per year for off campus students; $16,000 per year for on campus students
- Eligibility Requirements - 3.5 Academic GPA and 1100 SAT (math & verbal only) or 24 ACT
- Renewal - 3.25 annual GPA
- Deadline – must be accepted to the University by March 15th, 2013 for Fall enrollment and November 15th, 2013 for Spring enrollment
- Dean's Scholarship (Freshman only) $10,000 per year
- Eligibility Requirements - 2.75 Academic GPA and 900 SAT (math & verbal only) or 19 ACT
- Renewal – 2.5 annual GPA
- Hope Grant $1000-$7000 per year
- Eligibility Requirements – Meet Admissions entry requirements
- Renewal - 2.5 annual GPA
- Pacific Scholarship Transfer Student Awards (24 units or more)
- $9,000 per year - 3.5 GPA or greater - 3.0 annual GPA for renewal
- $7,000 per year - 2.75 – 3.49 GPA - 2.75 annual GPA for renewal
- $5,000 per year - 2.5 – 2.74 GPA - 2.5 annual GPA for renewal
While many students will qualify for multiple sources of aid. Hope International University limits institutional grants and scholarships to one per student.
Veteran’s Benefits- Submit a DD-214 and VA Application for Educational Benefits to the Registrar’s Office.
VA Benefit Information - http://www.gibill.va.gov/
Requirements: Based on GPA, California Residency, and financial need.
Learn more at California Student Aid Comission
Direct Loans (Federal)
The Direct Loan Program provides low-interest, long-term loans through the University. These funds must be REPAID. Funding for these loans comes from bank lenders. These loans can be subsidized or unsubsidized.
To be eligible to borrow a federal Direct Loan, students must be enrolled at least half-time (6 units undergraduate and 6 credential). If you drop below half-time during a semester, the remainder of your loan may be canceled.
If you decide to borrow a Federal Direct Loan, you will be required to complete a Master Promissory Note. Visit the following web site, http://www.dl.ed.gov to complete the promissory note online. Special Note:First-time borrowers at HIU are required to complete an Entrance Loan Counseling session. Students may satisfy this requirement by completing an on-line session via the following web site http://www.dl.ed.gov or students can attend an in-person session by calling our office at (714) 879- 3901, x2202 to schedule an appointment.
The federal maximums are:
- $3500 per academic year for the first year of undergraduate study; $4,500 per academic year for the second year of undergraduate study; $5,500 per academic year for the remaining years of undergraduate and credential study, up to a total of $23,000 subsidized.
The interest is fixed and is established at 4.5% for subsidized loans and 6.8% for unsubsidized loans for loans disbursed on or after July 1, 2010. Repayment normally begins six months following graduation or when you cease to be enrolled at least half-time. Payments and length of repayment period depends on the size of your debt but must be a minimum of $600 per year. Under special circumstances, repayment of a Federal Direct Loan that is not in default may be deferred or canceled. Repayment, deferment and cancellation are handled by your lender or loan servicing center. If you are eligible for a Federal Direct Loan, we have included one (either subsidized or unsubsidized or a combination of both) as part of your financial aid award.
Please refer to the following paragraphs to learn the differences between the subsidized and unsubsidized Federal Direct Loans.
The amount of a subsidized Federal Direct Loan you can borrow is the difference between the cost of education and your resources (family contribution, financial aid, and any other assistance you receive from the school and outside sources). However, you cannot borrow more than the federal maximum. If you are eligible for a subsidized loan, the federal government pays the interest for you while you are enrolled at least half time.
The unsubsidized Federal Direct Loan is awarded to students who do not qualify for the maximum subsidized loan eligibility. The unsubsidized loan can replace all or part of the family contribution. However, the amount of the loan cannot be more than the difference between the cost of education and any financial assistance you will receive from the school and any outside source (including the subsidized Federal Direct Loan).
If you are a dependent student, your total Federal Direct Loan (subsidized, unsubsidized, or a combination of both) cannot exceed the annual and/or aggregate federal maximums for these loans. Interest will be charged beginning the day the loan is disbursed to you until the day the loan is repaid in full.
Federal Work Study (FWS)
The Federal Work Study Program (FWS) provides funds to employ students (on-campus or off-campus in selected opportunities) who qualify for financial aid. Students must be enrolled at least half-time and demonstrate financial need (through the need-analysis process ). FWS awards typically range up to $2,000; however, requests for increases may be directed to the Financial Aid Office. Hourly wages are paid in compliance with minimum wage laws; students may work from 5 to 20 hours per week, depending upon the supervisor's need and the student's work-study award.
- Free Application for Federal Student Aid (FAFSA) (www.fafsa.ed.gov)
- Hope Financial Aid Questionnaire
Federal Work Study awards will continue to be offered to students as long as funds and job opportunities are available. Federal Work study employment is coordinated through the office of Human Resources and students must fill out a FWS Job Application via the Hope FWS Job Application link listed above. The Financial Aid Office will award the FWS funds upon receipt of notification that the FWS Job Application has been submitted to Human Resources.
Federal Supplemental Education Opportunity Grant (FSEOG)
File FAFSA and Hope FAQ. Both forms are required. Amounts range up to a maximum of $1,000 depending on financial need, and funding levels established by the federal government. Awarded to undergraduate students with exceptional financial need until the dollar limit is exhausted.
Pell Grants (Federal)
File FAFSA, and Hope FAQ. Both forms are required. Award range up to a maximum of $5500 depending on cost of attendance, financial need, and funding levels approved by the federal government.
Perkins Loan (Federal )
The Federal Perkins Loan Program provides a long term, low interest student loan. These funds must be REPAID. Award amounts are based on financial need and the maximum award amount is $3,000 per academic year. Repayment begins nine months after you graduate or cease to be enrolled at least half-time at an eligible institution. The minimum repayment is $420 a year for new borrowers. The maximum repayment period is 10 years, but the actual amount of your payments and the length of the repayment period is dependent upon the size of your debt. No interest is charged until the repayment period begins. The interest is 5% on the unpaid balance.
Perkins Loan recipients should be sure to complete a Perkins Loan Promissory Note and Entrance Interview with the Business Office. Contact Tracy Houser at (714) 879-3901, extension 2214 or via email at email@example.com to schedule an appointment.
PLUS Loans (Federal parent loans)
PLUS loans are intended to provide a source of financial assistance to parents of dependent students. Parents (with satisfactory credit histories) may borrow up to the estimated cost of attendance each year, minus any financial aid awarded to the student. Interest begins to accrue immediately after the first disbursement. Repayment begins immediately after the final disbursement of the loan occurs, with the first payment due within 60 days. The fixed interest rate is 7.9%. If you are a dependent student and your parent does not qualify for a Federal PLUS loan, you may be eligible to borrow an additional unsubsidized Direct Loan. PLUS loan applications are available in the Financial Aid Office or parents may choose to apply online by visiting www.dlenote.ed.gov.