Eligibility
The Hofstra University Office of Financial Aid is here to assist students and their families with the challenge of financing post-secondary education. It is important that you read all available information carefully and keep up-to-date on University policies. Staff is available in Room 202, Memorial Hall, for walk-in assistance or by telephone at (516) 463-8000.
Application Process
The Free Application for Federal Student Aid (FAFSA) is the only required application. The federal formula is used to determine eligibility for financial aid, but please remember you must reapply each year you are seeking assistance. We encourage you to file online at www.FAFSA.ed.gov to speed the process.
You and your parent(s) will need to request a PIN from the U.S. Department of Education at www.PIN.ed.gov to sign the Web version electronically. If you do not have a PIN, you MUST print the signature page and submit it as quickly as possible. When you are completing the FAFSA, please use Hofstra's school code 002732. While it should be filed as early as possible each year, you should not file before January 1. Applications filed before January 1 for the coming summer/fall semester will not be processed by the federal processor and will not be returned. Filing by March 15 is encouraged to permit sufficient time for processing for the fall semester.
In addition to federal financial aid, New York residents may be eligible for the Tuition Assistance Program (TAP). After the state higher education agency receives your FAFSA data, you will be sent an additional form called a TAP express form, or you can now file for TAP online at www.HESC.org. You will need to complete that form and return it to them for consideration.
If you are offered a Federal Stafford Loan, and it is your first loan with Hofstra, you will be required to complete an entrance interview explaining the aspects of the loan program before the funds can be released. In addition, you must complete a master promissory note (MPN) with your lender. The offer of a Federal Stafford Loan will be sent to you on your award notification. You should log on to the Hofstra Online Information System to accept or decline your awards. New students will accept or decline on the award notice. Processing of the loan will take 4-6 weeks at least to complete, so please do not delay.
Deadline Dates for Financial Aid
New York State Aid APTS (Aid for Part-Time Study): Institutions will submit a Recipient List to NY Higher Education within 45 days of add/drop period, and student applications should be submitted to the Financial Aid Office prior to recipient list date. The roster is certified by the Financial Aid Office 28 days after end of the term.
TAP (Tuition Assistance Program): NY State resident students may apply online via the FAFSA application. Express TAP application expiration date to NYHESC must be postmarked by May 1 of the current academic year for the coming fall.
Federal Financial Aid
A FAFSA must be received by Federal Student Aid Programs by June 30 of the current academic year for it to be processed; however, your application information must be received by Hofstra by your last date of attendance.
Determining Eligibility
General Eligibility Requirements are the following:
- Regular student in a degree program
- High school graduate or GED holder
- U.S. citizen or eligible non-citizen
- Not in default or owe a repayment to any federal program
- Make satisfactory academic progress in your program
Independent Student Status
You will be considered independent if you are:
- 24 years of age or older on or before December 31st of the award year
- a veteran of the U.S. Armed Forces
- accepted and enrolled in a graduate/professional program
- orphan or ward of the court
- legally and financially responsible for dependents other than a spouse
- married
Need-Based Awards
Eligibility for need-based financial aid is based on a need analysis. A formula established by Congress is applied to the information you provide on your application resulting in an expected family contribution (EFC). The difference between the annual costs of attending school (COA) and the EFC is your need (COA-EFC=Need).
Cost of Attendance
Because there is more to pay for a student than tuition, the COA includes more than just tuition and fees. The elements that are included are:
- Tuition
- Fees
- Room
- Board
- Books and Supplies
- Transportation
- Personal Expenses
- Expenses to assist a disabled student attend classes (if applicable).
Available Financial Aid Programs
The financial aid awarded by the Financial Aid Office consists of the general categories: grants, scholarships, loans and work awards. All programs are awarded based on the eligibility criteria established by federal or state law or University policy.
Grants
Federal Pell Grant is a federal grant that does not have to be repaid. It is awarded based on the EFC calculated by the federal processor. Grants may be made to students enrolling for as few as one class if eligible.
Federal Supplemental Educational Opportunity Grant (FSEOG) is a federal grant awarded by the University based on exceptional need from an annual allocation. First consideration must be given to those students eligible for Pell grant.
Tuition Assistance Program (TAP) is a state grant awarded to students for whom the state adjusted income is under $80,000. Award amounts are established and made by the New York Higher Education Services Corporation (HESC). This is a grant that does not have to be repaid.
Loans
Federal Stafford Loans are low 6.8% fixed interest rate loans made to students. Students are eligible for the following levels of awards: freshman $3,500, sophomore $4,500, junior $5,500, senior $5,500.
PLUS loans are low 8.5% fixed interest rate loans available to the parents of dependent undergraduate students to help with educational expenses. Parents may borrow up to an amount equaling the COA minus any other aid received. Repayment of these loans begins within 60 days after disbursement.
Scholarships
Scholarships are generally awarded by Hofstra and other organizations for academic or other merit. When you apply for admission, your academic credentials are evaluated for scholarships. As you continue through your program with the University, scholarships are possible based on academic excellence. Please refer to the letter awarding the scholarship for the renewal conditions for each award. If you receive a scholarship from a community group, business or other organization, please forward a copy of the award notice you received. The award must be accounted as part of your financial aid package, and we need you to keep us informed. Obtaining scholarships can require a bit of research, but there are tools to help you with that research.
Good Web sites to try:
Verification
The federal processor uses a system of edits, or flags, which produces a selection of certain applications for verification. If a student's application is selected for verification, this may mean that a data element in his/her application does not fit generally recognized patterns (not necessarily that the element is incorrect; it merely must be verified), or that the student was simply selected at random.
The Office of Financial Aid may also select files for verification if there appears to be a conflict of information. If a student is selected for verification, the student is notified on the Student Aid Report (SAR).
Required Documentation:
- 2007-2008 Verification Worksheet (Dependent or Independent)
- Signed copy of 2006 Parents' Federal Income Tax Returns and all schedules
- Signed copy of 2006 Student's (and Spouse if applicable) Federal Income Tax Return and all schedules (W-2 forms alone cannot be used for verification)
- If you need a copy of your tax return, call the IRS at 1-800-829-1040. Ask for a 1722 letter or tax transcript for the calendar year of 2006. This form is acceptable in lieu of an actual copy of your tax return
- Other documents as needed
Federal financial aid cannot be disbursed until verification is complete. Stafford Loans may not be certified until verification is complete. Estimated financial aid awards will be removed if verification is not completed within specified deadlines. Any deferred tuition and fees become due immediately. Please keep in mind: Corrections will be made for information that is not accurate which could affect your ability to receive aid. You will be notified of any adjustments that need to be made. If the corrections are done electronically, the student will be sent an updated Student Aid Report (SAR) from the federal processor.
Verification must be completed no later than 90 days past the last day of your enrollment for each academic year. Corrections involving the federal processor must be made prior to mid-August.
Satisfactory Academic Progress
Students must maintain satisfactory academic progress to receive funds under the Federal Work-Study, Federal Perkins Loan Program, Federal Supplemental Educational Opportunity Grant, Federal Pell Grant or Federal Stafford Loan. Students not meeting these guidelines will not be renewed for additional assistance. The appeals process is handled by the Academic Records Committee. These are the guidelines for satisfactory academic progress.
Satisfactory Academic Progress: In addition to maintaining a GPA that meets the University minimum standard of 2.0 for satisfactory degree completion, full-time undergraduates are expected to enroll in at least 12 or more credits each semester and successfully complete at least 24 of those credits each academic year for student aid eligibility. Part-time enrollment requires successful completion of credits as indicated below:
Part-Time Enrollment Criteria
| Credits Attempted Per Semester or Term |
Minimum Required |
|---|---|
| 9 - 11 | 9 |
| 6 - 8 | 6 |
| Less than 6 | All attempted |
Only successfully completed credits will be considered under this standard. Credits attempted (those enrolled at the beginning of each enrollment period) that were dropped, have earned a failing grade, been assigned an incomplete, or are otherwise not satisfactorily completed do not count toward the required number of successfully completed credits.
Academic records are reviewed at the end of each spring semester to determine academic progress and future student aid eligibility. Students who have met the minimum credit requirements each semester (earning at least 24), who are in good standing with their department, and who have not exceeded the maximum credit limit for program completion, are considered to be making satisfactory academic progress and are eligible for student aid in subsequent semesters.
Probationary Status
Full-time degree or certificate students who do not successfully meet the eligibility requirements stated above will be given a one-time probationary period of one academic year to re-establish their eligibility. During the probationary period, students must successfully complete a minimum of 24 credits for full-time status or the minimum number of part-time credits as listed above. Those not making progress will be dropped to unsatisfactory and be denied student aid for any upcoming enrollment period until the deficient number of credits is completed.
Maximum Time Frame
A maximum time frame is required for completion of a degree or certificate program and will be 150 percent of the normal completion time measured in credits. For example, an undergraduate program requiring 124 credits will extend to 186 credits.