Completing the FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)
Students must complete the FAFSA® annually to be considered for continued financial aid eligibility. The FAFSA® serves as the application for all federal, state, and institutional financial aid at Hondros College of Nursing and can be completed electronically through FAFSA® online at http://fafsa.ed.gov. The FAFSA® application opens every year for completion beginning on October 1.
Data retrieval is the recommended process for entering tax information. Students will also need to enter the Hondros College of Nursing school code, 040743.
Signing the FAFSA® through an electronic signature is recommended. In order to sign electronically, the student (and parent if applicable) must apply for a FSA ID at https://studentaid.ed.gov/sa/fafsa/filling-out/fsaid.
The information reported on the FAFSA® is used to determine the Expected Family Contribution (EFC). After the FAFSA® has been processed, the student will receive a Student Aid Report (SAR). The student and/or family must review the SAR for accuracy and update the FAFSA® with any necessary corrections. Financial need is determined by subtracting the EFC from the Cost of Attendance.
The EFC is the foundation for all financial aid awards. Students with a valid FAFSA on file will be awarded their maximum eligibility. Hondros College of Nursing students may view their awards through their Student Portal. Student aid is disbursed quarterly. Students must complete all required paperwork and accept or decline awards prior to disbursement.
Financial need is based on the following formula:
Cost of Attendance (Direct Costs + Indirect Costs) - Expected Family Contribution (EFC) = Financial Need
- Direct Costs are tuition, fees, books and supplies.
- Indirect Costs are transportation, personal expenses and room and board.
- Expected Family Contribution (EFC) is determined by a federally defined formula using information you provide on your Free Application for Federal Student Aid (FAFSA®).
Cost of attendance calculates the overall cost for a student to attend an institution. These numbers include tuition, fees, books, transportation, housing allowance, and personal fees. The Cost of Attendance is used when calculating student financial aid eligibility, and a student may not exceed the cost of attendance for an academic year.
|Tuition & Fees||$14,181|
|Textbooks and Supplies||$2,790|
|Housing & Food||$7,794|
|Tuition & Fees||$15,732|
|Textbooks and Supplies||$2,667|
|Housing & Food||$7,794|
NET PRICE CALCULATOR (NPC)
HCN’s Net Price Calculator (NPC) provides an early estimate of:
- The expected cost to attend HCN, and
- How much financial aid you may qualify for.
The NPC is a very valuable financial planning tool. The NPC is an estimation tool, not an application for admission or an application for financial aid. http://www.hondros.edu/how-to-pay/index.html
The federal government has established how dependency status is determined for federal financial aid purposes. If a student is considered a dependent, his or her parents’ income and asset information must be included on the FAFSA®. This information will be used in addition to the student’s income and asset information to determine the EFC.
The federal government requires some federal student aid applicants to verify the accuracy of information on their FAFSA®. In accordance with federal requirements, Hondros College of Nursing requires students to submit verification documents prior to disbursement of funds. Students and their spouses or parents may be required to submit a verification worksheet, federal tax return transcripts and additional information necessary to complete verification or clear conflicting information.
If information on any documents is found to be conflicting, students may be selected for verification and required to provide additional information. Failure to complete verification may result in a loss of financial aid eligibility. All verification documentation must be submitted prior to the student's last day of their academic year.
If Hondros College of Nursing suspects that an individual falsified information and/or altered documentation and fraudulently obtained federal funds, Hondros College of Nursing is legally obligated to file a report with the Office of the Inspector General and/or local law enforcement officials.
Based upon the receipt and review of specific documentation, financial aid may exercise Professional Judgement and make adjustments that effect student’s financial aid eligibility. Professional Judgement is the ability of financial aid to make adjustments to a student’s aid eligibility on a case by case basis. The adjustments may be made to the cost of attendance, to a data element required to calculate the student’s expected family contribution (EFC) or to dependency status.
All professional judgment requests require a Special Circumstance form and supporting documentation. Please contact your campus financial aid representative for additional information.