Financial Aid

Hebrew College Financial Aid

Hebrew College's financial aid program is designed to ensure that, to the extent possible, financial need is not a barrier to study here. The College has an extensive financial aid program and assists students in finding outside sources of aid to further support their education. For more information, please contact Marilyn Jaye at 617-559-8642 or mjaye@hebrewcollege.edu.

Applying for Financial Aid

Hebrew College’s financial aid program is designed to ensure that, to the extent possible, financial need is not a barrier to study here. Regardless of your family income, please consider applying for financial aid. We take many factors into consideration, not just financial need. The only way to know if you will be eligible for grants, loans, fellowships and scholarships is to apply for aid.

Preference in financial aid decisions is given to those who return their completed application by the March 1st deadline. Financial aid decisions are based on both need and merit, and reflect the College’s commitment to admit students regardless of financial need.

All matriculated students must re-apply for financial aid each year. The entire application is due on March 1st, including the student’s Fafsa application (www.fafsa.ed.gov) and tax information. We cannot base any financial aid decisions on incomplete applications. Applications received after the March 1st deadline will still be considered, but there may be less money available for distribution.

Those students wishing to apply for fellowships and other merit-based funds only, should complete the Hebrew College Financial Aid form and note on the form that you do not wish to be considered for need-based or federal aid. If this is the case, you do not need to complete the FAFSA Application.

Qualifying for Financial Aid

To qualify for financial aid, the application must meet the following criteria:
Be a matriculated student in one of the College’s degree or certificate programs, or be in the process of applying for admittance to one of the degree or certificate programs.
Be enrolled in enough credits during the semester to be considered at least a half-time student. While the number of credits required to be counted as attending half-time may vary by program, generally this means taking a minimum of 6 credits during the semester.

Maintain satisfactory academic progress in the student’s course of study.

No one who owes a refund on a federal grant or is in default on a federal educational loan will qualify for aid.

Any award is subject to revision if the student changes the number of credits he/she is taking, or if the student’s financial situation changes. The College will also make adjustments if there are discrepancies between the financial aid application and supporting documentation.

Hebrew College reserves the right to withhold financial support from any student who has not met his/her financial obligations to the college.

Federal Direct Loans are low-interest loans made to the student through the U.S. Department of Education. These loans are subject to federally mandated regulations regarding student eligibility, interest rate, repayment, and refund rules. The loans are obtained through the College, and if the student is qualified, will be offered as part of the student’s financial aid package. Students are not obligated to take out a student loan. The College cannot, however, offer additional aid if the student does not want to borrow in order to pay for school.

Should you have any questions about the application process, student loans, or your financial aid award, please feel free to contact the Office of Student Financial Aid: 617-559-8642 or email mjaye@hebrewcollege.edu. The Financial Aid Office is open Monday through Thursday from 9 am to 5 pm (Massachusetts time) and from 9 am to 1 pm on Friday. The office is closed on weekends, Jewish, and legal holidays.

How To Apply

All students must complete both the Hebrew College Financial Aid Application and the Free Application for Federal Student Aid (FAFSA). You may complete the FAFSA by going to www.fafsa.ed.gov. (If you are an international student, you should not complete the FAFSA). Hebrew College’s FAFSA Code is #002157.

Full instructions for completing the financial aid application are included with the application itself. You may download the application from our website here.

The FAFSA application is done online at the www.fafsa.ed.gov website. It is based on your federal taxes. If you are applying for aid for the 2012-2013 academic year, the taxes used for this application are those due on April 17, 2012. You may begin your FAFSA application using estimates, but once you file your taxes, you will be required to go back to your FAFSA and change your answers to match your tax forms. You will also be asked to use the IRS Data Retrieval System available on the FAFSA website once you file your taxes. Full information is available on the FAFSA website.

Deadlines

Continuing matriculated students must re-apply every year. The application is due March 1. Applications will be accepted after that date, but late applicants run the risk of receiving less funding.

Students applying for admission should complete their aid application at the same time they complete their admissions application or as soon as they are accepted. Should you defer admittance for a year, your application for financial aid will be due by March 1 before your entry date (in July or September).

AWARDING POLICIES

Accepting Your Award

After all of your application has been submitted and reviewed by our office, an offer of financial assistance will be sent to you, outlining the financial aid that you are eligible to receive for the specified academic year. Your offer will come with an acceptance form—you may accept or decline all or part of the aid package. We MUST have the form back. No aid will be disbursed until the signed and completed form is returned. No offer of aid will be made before the student has been accepted into a certificate or degree program at Hebrew College.

Declining Your Award

Please make sure you complete the Acceptance Award Form, clearly marking those parts of the offer you wish to accept and those you wish to decline. If we do not receive the form back, we will have to assume you do not want any of the financial aid offered.

Reporting Outside Assistance

If you will be receiving any forms of assistance not listed on your offer (such as a scholarship from an outside organization), you must notify us of this additional resource. All aid you receive from the school and outside sources must be accounted for so you do not end up having to return some funds because of over-awarding. This is especially true if you receive any federal funding.

Reduction in Enrollment

Your offer of aid is based on the expectation that you will take a certain number of credits each semester. A reduction to your courseload may result in a reduction or cancellation of your aid. An amended offer of financial aid will be sent to you stating the new amount(s) you will qualify for after the change in courseload. You will be expected to return the Acceptance of Amended Aid form before any aid is disbursed.

Disbursement of Funds

Most aid is disbursed term by term—the same way you pay tuition. In most cases, you must be attending school during a particular term to receive a disbursement. No aid is given out until after the Add/Drop date of each semester has passed and we have verified the number of credits for which the student is registered.

Student Loan Disbursements

Federal student loans are disbursed per semester. No funds will be disbursed until after the Add/Drop date has passed each semester. When the semester’s disbursement arrives at the school, it is placed into the student’s account and the student is notified. The student then has 14 days to change his/her mind about the loan and notify the school. If the school does not receive notification that the student wishes to decline receipt of the disbursement, the money is applied to any outstanding tuition and fees, and any left over funds are refunded to the student by check. The check is mailed to the student. If you wish to pick up your refund, you must make arrangements with the Bursar’s Office.

Students who are new to the school and are receiving federal student loans through us for the first time will receive their first loan disbursement after the fourth week of classes during the first semester they receive student loans. All other disbursements will be done as explained above.

Students who are studying abroad should make arrangements with the Financial Aid Office as to where they want their disbursement checks sent (to a relative or friend in the U.S. so it can be deposited in the student’s bank account, to the student in the foreign country).

Satisfactory Academic Progress

Undergraduate students are required to maintain a minimum of a 2.7 GPA (C+); graduate students must maintain a minimum of a 3.0 GPA (B-). Merit-based may scholarships require a higher GPA for renewed consideration. All students must make continuous progress towards completing their degree within the timeframe stipulated by the degree program—generally 3 to 6 years for a full-time program and 10 years for a part-time program. Multiple leaves of absence can bring you out of compliance with the satisfactory academic progress requirement and may limit your eligibility for federal, state or institutional aid.

Federal Verification Process

Approximately one-third of all financial aid applicants are selected by either the U.S. Department of Education for verification of the accuracy of information provided on the FAFSA. We will notify you if you have been selected. If you are selected, any offer of aid you have received will be tentative pending the completion of the verification process. No aid can be disbursed until verification is complete.

Should the verified financial information differ significantly from the original information provided on the FAFSA, your offer of aid may have to be amended. Please be sure to respond to requests for follow-up documentation in a timely manner to avoid delays in applying your financial aid as a credit to your student account.

You will be required to complete the verification worksheet and provide a copy of your federal income tax transcript and/or tax return forms. Upon receipt of the required materials, we will finalize the review of your application for financial aid. If documentation is not received by the established deadline, your offer of assistance could be canceled.

Policies/Procedures

Federal, state, and institutional resources form a partnership with your own commitment to meet your educational costs. As a financial aid recipient and a partner in this relationship you have a number of responsibilities and rights.

RIGHTS AND RESPONSIBILITIES

Student Responsibilities

Complete and submit application materials to the appropriate agencies within required or recommended timeframes.
Read all materials sent to you from the Financial Aid Office and other agencies awarding you aid. Read, understand, and keep copies of all forms you sign.
Know and comply with the rules governing the aid you receive. These rules include but are not limited to:
You must not be in default on any prior educational loan.
You must not owe a refund on a Federal Pell Grant or a Federal Supplemental Educational Opportunity Grant due to repayment.
Provide additional documentation, federal tax transcripts, federal tax returns,
W-2s, verification documentation, and any additional information that may be requested by the Financial Aid Office
Comply with the provisions of any promissory note and all other agreements you sign including repaying your student loans.
Complete the registration process each term by the end of the Add/Drop period to ensure availability of all student aid funds you have been awarded.
Use student financial aid proceeds solely for direct educational costs and related living expenses.
Maintain satisfactory academic progress.
Report private sources of student financial aid to the Financial Aid Office.
Report any changes in your status: marital, academic, enrollment, residential, or name status.

Keep your local and permanent addresses current with the Registrar.

Student Rights

All records and data submitted with your application for financial aid will be treated as confidential information, as prescribed by the Family Education Rights and Privacy Act (FERPA). All students have the right to:

Have an explanation of the award process.
Be notified of changes in your financial aid status and the reasons for those changes.

Know the conditions of any loan you accept.

Code of Conduct

The Office of Student Financial Aid has adopted the National Association of Student Financial Assistance Administrators’ (NASFAA) Statement of Ethical Principles and Code of Conduct, which helps to guide financial aid professionals in ensuring transparency in the administration of student financial aid programs. In addition, Financial Aid Office follows legislated requirements prohibiting a conflict of interest regarding the administration of Title IV student loans and the responsibilities of an agent of the College.

1. Employees shall not solicit or accept any gift having a monetary value of more than a nominal amount from a lender, guarantor, or servicer. Certain items are not considered gifts, such as training materials, meals at training events, and philanthropic contributions not related to student loans. Employees may also be reimbursed for reasonable expenses incurred in serving on the advisory board, commission, or group.

2. Employees shall not enter into any revenue-sharing arrangement with any lender where the lender provides or issues a Title IV loan to the student or student’s family in exchange for the school recommending the lender or the lender’s loan products in exchange for a fee or material benefit including profit or revenue sharing that benefits the school or a school’s employee or agent.

3. Employees shall not accept from any lender or affiliate of any lender, any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.

4. The College shall not request or accept funds from any lender for private education loans including funds for an opportunity pool loan to it students in exchange for the school providing promises of a specified loan number or volume or a preferred lender arrangement for educational loans.

5. Employees shall not assign, through award packaging or other methods, a first-time borrower’s loan to a particular lender or refuse or delay processing of a loan based on the borrower’s selection of a lender or guarantor.

6. Employees shall not accept or request any assistance with call center or financial aid office staffing from any lender except as allowed by law.

Satisfactory Academic Progress

Satisfactory academic progress is defined as the measure of progress toward the completion of a course of study according to the standards of Hebrew College and as required by Federal regulations.

The standards of Satisfactory Academic Progress (SAP) apply to all financial assistance programs including Federal Pell Grant, Federal Direct Loans, and Grad PLUS Loans, as well as any assistance received from the state and from Hebrew College. SAP standards apply to all students: full-time, part-time, degree and certificate candidates even if they are not receiving aid.

Undergraduate Students

The satisfactory academic progress of an undergraduate student will be reviewed based on the following standards.

Qualitative Standard (Undergraduate)

For qualitative purposes, satisfactory academic progress requires a cumulative Quality Point Average (QPA) of 2.7 (C+) or better by the end of two academic years. Students will be reviewed at least annually thereafter to evaluate eligibility for aid, and must maintain at least a 2.5 QPA (C) in order to continue to receive financial aid.

Quantitative Standard (Undergraduate)

Students must also meet two quantitative requirements to retain their eligibility for financial aid.

1. Credit Completion Rate: We measure a student’s quantitative standards by reviewing completed credits as a percentage of attempted credits. Beginning with periods of enrollment after spring 2011, students must earn at least 67% of their cumulative attempted credits to maintain satisfactory academic progress. To calculate this number, all attempted hours will be totaled and multiplied by 0.67 to determine the number of credit hours a student must have earned in order to continue to receive financial aid. *See example below

2. Maximum Time Frame Standard: You will not be eligible to receive financial aid once you have attempted more than 150% of the normal credits required for your degree or certificate program. For the majority of programs at Hebrew College, this means that students must complete their degree in a maximum of 7.5 years. Students that go beyond 7.5 years will not be eligible to receive financial aid.

Important Considerations:

The following are considered when evaluating a student’s satisfactory academic progress:

Withdrawals, incompletes, no grade and failures (W, I, PI, NG, F) are considered attempted but not earned hours.
Passing credits received for pass/fail courses are considered attempted and earned credits; failing grades in pass/fail courses are considered attempted but not earned
Repeated courses are included in the calculation of both attempted and earned hours. A student is allowed to repeat a course only twice. No federal aid is allowed to be given for courses that are passed and then repeated only to get a better grade

Transfer credits are included in the credit completion rate and maximum time-frame calculations, but not the GPA.

Graduate Students

A graduate student’s satisfactory academic progress will be reviewed based on the following standards:

Qualitative Standard (Graduate)

For qualitative purposes, satisfactory academic progress requires a cumulative Quality Point Average (QPA) of 3.0 or better. The qualitative standard will be reviewed annually. Students that fail to meet this standard will not be eligible for federal aid until the cumulative 3.0 QPA is achieved.

Quantitative Standards (graduate)

Students must also meet two quantitative requirements to retain their eligibility for financial aid.

1. Credit Completion Rate: The Financial Aid Office measures a student’s quantitative standards by reviewing completed credits as a percentage of attempted credits. Students must earn at least 50% of their cumulative attempted credits to maintain satisfactory academic progress. To calculate this number, all attempted hours will be totaled and multiplied by 0.50 to determine the number of credit hours a student must have earned in order to continue to receive financial aid. *See example below

2. Maximum Time Frame Standard: Students will not be eligible to receive financial aid once they have attempted more than 150% of the normal credits required for their degree or certificate program.

Important Considerations

The following are considered when evaluating a student’s satisfactory academic progress:

Withdrawals, incompletes, no grade and failures (W, I, PI, NG, F) are considered attempted but not earned hours.
Passing credits received for pass/fail courses are considered attempted and earned credits; failing grades in pass/fail courses are considered attempted but not earned.
Repeated courses are included in the calculation of both attempted and earned hours. A student is allowed to repeat a course only twice. . No federal aid may be given for courses that are passed and then repeated only to get a better grade.

Transfer credits are included in the credit completion rate and maximum time frame calculations, but not the GPA.

* Example: Andrew and Marie enroll in 16 credits per semester for the first year. At the end of the second semester, Andrew has earned a total of 20 credits and Marie has earned a total of 30 credits. To be making satisfactory progress, they must have earned 67% of the credits attempted by the end of each increment. By the end of the second semester, they must have earned 22 credits (67% x 32). Marie is meeting SAP, but because Andrew only earned 20 credits, he is not.

Appeals of Ineligibility Due to Non-Satisfactory Academic Progress

Students who appeal their ineligibility due to not making satisfactory academic progress have the right to have their situation reviewed by Financial Aid Office. Approval of a student’s financial aid appeal will be based on extenuating circumstances outside the normal school activities that have an impact on the student’s ability to achieve the minimum standards of satisfactory academic progress. Cases to consider may fall into the following categories:

Student becomes seriously ill. Spouse, child or other relative has medical emergency.
Student is severely injured. Spouse, child or other relative has medical emergency.

Student’s family member dies.

Other cases may be considered if they are determined to have caused physical or psychological stress on a student. Each situation is reviewed on a case-by-case basis. These requirements, stating time-frame and consequences must be submitted in writing by the student and documented in their file. A student’s eligibility for all aid will be lost in the next semester if the student does not meet the requirements in the period stated.

Regaining Eligibility

Students may regain eligibility for aid during the academic year if they reach the minimum standards of satisfactory progress within the same period of enrollment. Students may continue to attend courses without the assistance of federal, state or institutional funding. In addition, students may be able to attend classes elsewhere in order to demonstrate eligibility for reconsideration of aid. Students are determined to be eligible for funds based on the timing in which they reach the minimum standards. The U.S. Department of Education’s standards outline different eligibility criteria for students who meet satisfactory progress standards within the current period of enrollment versus those who regain eligibility in a later period. The Financial Aid Office will award appropriate aid as specified by the U. S. Department of Education.

Changes in Financial Circumstances

Financial Need

The majority of financial assistance is need-based. The FAFSA form collects data primarily on your financial resources for the previous year. We realize that a family’s income is not always the same from one year to the next, and that circumstances beyond a family’s control may inhibit a family’s ability to contribute to educational expenses.

Changes in Financial Circumstances

We welcome the opportunity to discuss a substantial change in your family’s status since filing your aid application and the FAFSA. Such circumstances may include marriage or divorce, loss of income, high medical or dental expenses (not covered by insurance), or a catastrophic expense.

Reporting Changes in Financial Circumstances

If you or your family experience a significant financial change (such as those listed above), you should submit a letter explaining the situation and any pertinent documentation to support an explanation of the situation. This documentation should be addressed to Office of Student Financial Aid.

Review Process

The Financial Aid Office will review the submitted documentation and determine if there can be a recalculation of your original EFC (Estimated Family Contribution). If there is a recalculation that results in a decrease in your EFC, additional aid will be considered for you based on a funds available basis.

Tax Credits & Deductions

There are a number of tax advantages related to educational expenses. The following is general information and not tax advice; we are providing this information to educate you about what tax advantages may be available to you. You should consult a tax professional about your particular situation and follow that professional’s advice when filing your taxes and claiming any credits or deductions.

Tax Credits

The American Opportunity Credit was set to expire in 2010 but was extended to 2011 and 2012. It allows taxpayers to take up to a maximum credit of $2,500 for education expenses for each qualifying student.. The full credit is available to individuals with a modified adjusted gross income of $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. A taxpayer whose modified adjusted gross income is greater than $90,000 ($180,000 for joint filers) cannot benefit from this credit. The tax credit can be applied towards four years of post-secondary education instead of two and adds required reading materials and a computer (if it is needed as a condition of enrollment or attendance at the educational institution) to the list of qualified expenses. You should check with your tax advisor for guidance and more complete information about the tax benefit.

Generally, to take the American Opportunity Credit for a student, all of the following must apply:

As of the beginning of the tax year, the student had not completed the first 4 years of postsecondary education as determined by the eligible educational institution.
The student was enrolled during the tax year in a program that leads to a degree, certificate, or other recognized educational credential.
The student was taking at least one-half the normal full-time workload for his or her course of study for at least one academic period during the tax year.

The student has not been convicted of a felony for possessing or distributing a controlled substance.

If all of the above conditions are not met, you may be able to take the Lifetime Learning Credit for all or part of that student’s qualified education expenses instead.

A Lifetime Learning Credit of up to $2,000 can be claimed for qualified education expenses paid for all students enrolled in eligible educational institutions. It is most useful for graduate students, part-time students and those who are not pursuing a degree because there is no limit to the number of years the lifetime learning credit may be claimed for each student. The amount of the credit equals 20% of qualified expenses paid, up to a maximum of $10,000 of qualified expenses per return. The amount of your credit is gradually reduced if your modified adjusted gross income is between $50,000 and $60,000 ($100,000 and $120,000 if you file a joint return). You cannot claim a credit if your modified adjusted gross income is $60,000 or more ($120,000 or more if you file a joint return).

Generally, you may claim the Lifetime Learning Credit if you meet all three of the following requirements:

You paid qualified education expenses of higher education.
You paid the education expenses for an eligible student.
The eligible student is yourself, your spouse or a dependent you claim as an exemption on your tax return.

Education credits are claimed on IRS Form 8863.

Please note: You cannot take both the American Opportunity Credit and the Lifetime Learning Credit for the same student in the same year. However, if you pay for qualified educational expenses for more than one student in the same you, you can choose to take the American Opportunity Credit for one student and the Lifetime Credit for the other student. You should check with your tax advisor for guidance on this and all other tax matters.

Tax Deductions

Taxpayers not eligible for the American Opportunity or Lifetime Learning Credits may be eligible for a Tuition and Fees Deduction. The qualified expenses must be for higher education. This deduction, reported on IRS Form 8917, can reduce the amount of your income subject to tax by up to $4,000.

Generally, the tuition and fees deduction may be claimed if you meet all three of the following requirements:

You paid qualified education expenses of higher education.
You paid the education expenses for an eligible student.

The eligible student is yourself, your spouse, or your dependent you claim an exemption on your tax return.

You cannot claim the Tuition and Fees Deduction if any of the following apply:

Your filing status is married filing separately.
Another person can claim an exemption for you as a dependent on his or her tax return. You cannot take the deduction even if the other person does not actually claim that exemption.
Your modified adjusted gross income is more than $80,000 ($160,000 if filing a joint return).
You were a nonresident alien for any part of the year and did not elect to be treated as a resident alien for tax purposes.

You or anyone else claims an education credit for expenses of the student for whom the qualified education expenses were paid.

Withdrawal / Leave of Absence

Students who need to withdraw or take a leave of absence may do so for academic, discipline, personal, or medical reasons. If you are receiving federal financial aid and withdraw or take a leave of absence, you may be subject to the federal Return of Title IV Aid and state financial aid return policies. Students must notify the Financial Aid Office about any change in enrollment, whether due to withdrawal from a class, a leave of absence, or withdrawal from Hebrew College. The withdrawal or leave must be done officially in writing using the appropriate form.

Non-attendance does not constitute official withdrawal. If a student stops attending class and does not officially withdraw, that student will fail to earn a passing grade in at least one course over an entire term. Hebrew College must assume that the student has unofficially withdrawn. For this purpose, non-passing grades are defined as W, I, PI, NG or F. Unofficial withdrawals will be determined within 90 days of the end of the term. Federal financial aid recipients will have their awards reviewed and recalculated, causing a reduction in aid awarded.

Remember that if you are not enrolled at least half-time for more than six months, your student loans will go into repayment.

Federal Return to Title IV Aid Overview

The Office of Student Financial Aid is required by federal law to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a term. The student’s eligibility for the funds received from federal Title IV financial aid programs must be recalculated in these situations. Recalculation is based on the percentage of earned aid using a federally mandated formula.

Federal Return of Title IV funds formula.

Percentage of earned aid = number of days of the term completed up to the withdrawal date divided by the total days in the term. For unofficial withdrawals, the withdrawal date used for aid recalculation is the midpoint of the term. Any break of five days or more is not counted as part of the days in the term.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the term.
If a student earned less aid than was disbursed, the institution and/or student will be required to return a portion of the funds that were disbursed to the student. Therefore, when it is necessary to return Title IV funds to the U.S. Government, if the funds were already disbursed to the student, the student may be required to return those funds to the government. If a student earned more aid than was disbursed, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student’s withdrawal.