Hondros offers several educational financing options including Federal Student Aid, grants and loans, Veterans' Benefits, and more. Financial aid is available to those that qualify. Students requesting to use Federal Financial Aid are required to complete the Free Application for Federal Student Aid (FAFSA®). Information provided on the FAFSA® is used to calculate the student’s Estimated Family Contribution (EFC), which is sent to the school electronically. The institution will use the EFC in combination with the Cost of Attendance (COA) to create awards for each student. Students may view and accept or decline their awards through the Student Portal. Financial aid disbursements occur throughout the term, generally beginning the third week of classes. Disbursements are made via a credit to a student’s institutional account. Learn more about completing your FAFSA®.
Federal Student Aid Programs
FAFSA®, Direct Loans, and the Direct Loan Program are registered trademarks of the U.S. Department of Education. There are three categories of federal financial assistance:
- Grant – aid that does not need to be repaid.
- Loan – aid that must be repaid, but generally not until the students have graduated, enroll less than half time, or stop attending school.
- Work Study – wages for part-time, educationally related, student or community-service employment. FWS allows students who demonstrate financial need to earn a portion of their educational expenses. Students must complete the FAFSA® to be considered for FWS funds. In this program, students earn at least the current hourly minimum wage by working at Hondros College of Nursing or in community service roles. Certain restrictions apply.
General Eligibility for Federal Programs
In order to qualify for federal financial assistance*, you must:
- Enroll as a degree-seeking student.
- Be a U.S. citizen or an eligible noncitizen.
- Meet and consent to all Federal FAFSA® filing requirements.
- Qualify in accordance with all applicable rules and regulations defined under Title IV of the Code of Federal Regulations and the 1965 Higher Education Act, as amended.
- Demonstrate financial need for need based aid programs according to the federally defined formula.
- Maintain Satisfactory Academic Progress
- Not be in default on a federal education loan.
- Not owe a refund on a federal education grant
- Have a high school diploma or verifiable recognized equivalent.
* Financial aid is available for those who qualify.
Students who may qualify for veterans’ educational benefits should notify their financial aid representative regarding eligibility as far in advance of their scheduled class start date as possible.
Federal Work-Study (FWS)
FWS allows students who demonstrate financial need to earn a portion of their educational expenses. Students must complete the FAFSA® to be considered for FWS funds. In this program, students earn at least the current hourly minimum wage by working at Hondros College of Nursing or in community service roles. Certain restrictions apply.
In addition to federal financial assistance, state programs may be available to students who demonstrate financial need or who have successfully achieved certain academic qualifications. Typically, state recipients must attend an institution in their home state, and they or their parents must have resided in the state for a specified period of time. Proof of residency is usually required. The application for the State of Ohio is the FAFSA. https://highered.ohio.gov/
This Alumni Achievement Grant is designed to assist Hondros College of Nursing Alumni as they progress into our Associate Degree in Nursing (ADN) program.
This Institutional Affordability Grant (IAG) is designed to assist Hondros College of Nursing (the “College”) students thathave financial need in order to cover their gap funding, i.e., the difference between total cost of tuition and fees (direct) less the amount of all eligible financial aid resources.
Private Education Loans
Many lenders also offer private education loans to students to supplement their federal financial aid. Terms of repayment, including interest rates, vary by loan. Lenders perform a credit check and determine a loan applicant’s creditworthiness before approving these loans. A loan applicant may also be required to provide a credit-worthy cosigner. The following link provides more information on private education loans. https://www.hondros.edu/how-to-pay/financial-aid-programs
Employer Tuition Reimbursement
Students eligible for employer tuition reimbursement benefits should contact their employer or human resources department. Tuition reimbursement does not eliminate a student’s responsibility to pay tuition. Students receiving tuition reimbursement are required to disclose to the college the benefit and the amount as is must be considered as Estimated Financial Assistance.