General Financial Aid Information

Chestnut Hill College is committed to making its high quality academic experience accessible to all qualified students regardless of income levels. No student should be discouraged from applying to the College because of a lack of funds. The staff in the Financial Aid Office stands ready to assist you in the process of applying for financial aid.

Financial aid is based on need and is awarded in a combination of grants, loans and student employment. Chestnut Hill College offers the following federal aid: Pell Grants, Supplemental Educational Opportunity Grant (SEOG), Perkins Loans, Federal Work Study and Stafford Loans (formerly Guaranteed Student Loans). Pennsylvania residents may apply for PHEAA State Grants. Chestnut Hill College Grants are institutional grants based on financial need.  Approximately 75% of Chestnut Hill College students receive some type of financial aid.

To be eligible to receive financial aid, the student must be accepted by the College into a degree or certificate program, must have a high school diploma or equivalent, and must submit all required forms and requested information by the established deadline.

*All Students must reapply each year for all forms of financial aid.

Eligibility Requirements

• U.S citizen or permanent resident or eligible noncitzen of the U.S. with a valid social security number
• Matriculated: enrolled in an eligible program seeking a degree or certificate
• Eligibility is dependent on your federally calculated need and the availability of funds.
• Standards of Academic Progress

Types of Financial Aid

      There are three types of financial aid:

1.  Grant	This is money, given to the student for her educational costs, that does not have to be repaid.  Grants are generally based on financial need.  Other forms of grant financial aid based on the merit and accomplishments of the students are more often known as Scholarships or Awards.
2.  Loan	This is money lent to the student that must be repaid with interest over a period of time.  Most loans allow students to complete their education before beginning repayment.  There are some loans available to parents for their daughter's educational costs.
3.  Work Study	This is money a student can earn to use for her eduation costs.  Work study is where a student obtains a job on campus and is paid an hourly wage.

          

Federal Financial Aid

Federal financial aid, also known as Federal Title IV aid, includes Pell Grants, Supplemental Educational Opportunity Grants (SEOG), Stafford Loans and Federal Work Study.  All of these are available at Chestnut Hill College.  Students must complete a FAFSA (Free Application for Federal Student Aid) to be eligible for federal aid.  Eligibility for federal aid programs is determined by the federal government and based on each student's FAFSA.  The deadline for applying for any financial aid is April 15.

Federal and State Grants

The State of Pennsylvania offers a PHEAA state grant that can be applied for by all residents of Pennsylvania.  The grant is based on need.  Chestnut Hill College students who reside in Pennsylvania may be eligible for this grant.   There is no separate application to apply for the PHEAA grant.  The only required application is the FAFSA.

CHC Grants

Chestnut Hill College offers additional types of financial aid to help students obtain their college education.  To be eligible for a Chestnut Hill College Grant students must be accepted by the College into a degree or certificate program and must complete the FASFA and requested information by the established deadlines.

Perkins Loan

The Federal Perkins Loan program is a low interest (5%) loan for students with exceptional financial need.  It is administered by Chestnut Hill College.   The loan is made with government funds with a shared contribution by Chestnut Hill College.  Students awarded the Perkins Loan may be eligible to have the loan "cancelled" by the federal government if they pursue full-time employment in certain areas.  More information on this can be obtained from the Financial Aid Office.

Federal Work Study Program

Chestnut Hill College administers the federal workstudy program on-campus.  Students who are awarded workstudy funds should apply for specific positions.  Positions available are listed on the third floor of St. Joseph Hall.  Each Chestnut Hill College workstudy position has a written job description and can be used by students to build their professional resumes as well as a source of funds for payment of educational or personal living expenses.

Chestnut Hill College Financial Aid Policies

Academic Progress Policy for Continuation of Federal Financial Aid

Average Fall '00 Financial Aid Package

Tuition Exchange Program

Council of Independent Colleges Tuition Exchange Program (CICTEP)

Steps to Apply

Free application for Federal Student Aid and Stafford Loan

1. You must complete the Free Application for Federal Student Aid (FAFSA).  The FAFSA application for the 2001-2002 academic year will be available after January 1, 2001. You can use the paper FAFSA form (available in the Financial Aid Office at CHC or your high school guidance office) access the FAFSA over the Internet at http://www.fafsa.ed.gov or you can use the FAFSA renewal application (this will only be sent to you if you are a previous financial aid recipient.)

2. You must indicate Chestnut Hill College’s federal school code (003245) on the FAFSA. This will ensure that your FAFSA information will be sent to Chestnut Hill College. 

3. By completing the FAFSA, you will be applying for federal, state and institutional funding.  If additional paperwork or documentation is needed, the Financial Aid Office will contact you.

4. The FAFSA application deadline for priority consideration is April 15^th.

5. Processing of the FAFSA application takes approximately four weeks.  You will receive a Student Aid Report (SAR) form the Department of Education after your application has been processed. 

6. Please review your SAR report carefully.  If you have any corrections that need to be made to your SAR, use part II of the SAR to make the necessary corrections.  Return part II of the SAR to the Department of Education with your changes.  If you have no changes that need to be made to your SAR, please keep it for your records.

7. If you are interested in applying for a Federal Stafford Loan, you must sign a Master Promissory Note.  The MPN should be completed approximately four to six weeks before the start of classes.  The MPN is a multi-year promissory note that can be used for your entire collegiate career.  This means that once you sign the MPN, you do not need to sign another note for future years borrowing.  Your bank lender will mail you a disclosure statement once the loan has been processed by the Financial Aid Office for each academic year.

8. You should receive the MPN in the mail.  If for some reason you do not, please contact the Financial Aid Office and we will mail one to you.  The Federal Stafford Loan programs constitute legal debts that must be repaid.

9. Notification of financial aid awards.  You will receive a financial aid package (also called a financial aid award letter) from Chestnut Hill College.  This will indicate all federal, state and institutional financial aid that you are eligible to receive.  Prospective/incoming student award letters will begin to be mailed out to students in mid-March.  All CHC current students will receive their award letter in late June.

10. You must re-apply for financial aid each academic year.

For more Information or Questions

Visit the Financial Aid Office - The Financial Aid Office provides the financial aid needs of students.

Hours
Monday 9:00 am - 5:00 pm
Tuesday and Wednesday 9:00 am - 7:00 pm
Thursday 9:00 am - 5:00 pm
Friday 9:00 am - 4:00 pm

Location
1st floor St. Joseph Hall

Phone: 215-248-7182

Fax: 215-242-7714

E-Mail: finaid@chc.edu

 

©Chestnut Hill College 2003