More than 90 percent of Harding students receive some form of financial assistance, whether that is from federal, state or private sources. According to a recent College Board study, 60 percent of students who earned a bachelor’s degree in 2012 graduated with debt. The average debt was $26,500.
For Harding students looking to receive some sort of financial aid for the coming spring semester, now is the time to begin making a plan and taking action.
Students have several options when it comes to picking the type of financial aid that will meet their needs. Most students receive some sort of aid as freshmen, but upperclassmen are sometimes unaware of the opportunities for aid that exist.
- Need-based grants for sophomore, juniors and seniors. Freshman recipients of the Harding Freshman Grant or the Federal Pell Grant who have a GPA of at least 2.5 are eligible for further grants as sophomores, juniors and seniors. Through these grants, students can receive up to $9,750 in aid.
- Tuition discounts. Harding’s financial aid website details the following discounts: Christian College Employee Discount, Christian Ministers Discount, Christian Missionary Discount, Christian School (K-12) Discount, Orphan Discount and Tuition Exchange Discounts.
- Scholarships. The government’s student aid website suggests searching the U.S. Department of Labor’s free scholarship search tool for scholarships that may be available. Additionally, professional associations, foundations, religious or community organizations, civic groups and local business often give scholarship money to students.
- Federal Grants. While scholarships are merit-based, grants are need-based. To get a federal grant, it is essential for students to fill out a FAFSA and, once received, talk with a financial aid advisor at their university about options and details.
- Federal student loans. The U.S. Department of Education offers both subsidized and unsubsidized low-interest loans to eligible students. Once again, it is essential to fill out a FAFSA to begin this process.
For students who may not need aid right now but have loans to pay off, Harding’s website offers loan repayment assistance. Borrowers may have options that can forgive, discharge or pay for a portion of student loans. An eBook on the webpage captures more than 60 ways to “get rid of your student loans,” including loan consolidations, forgiveness programs and repayment programs.
A checklist from HU Financial Aid:
- Submit the FAFSA. Apply for federal aid by submitting this online form at www.fafsa.gov. Be prepared with parent and student tax return information. You will also need to go to pin.ed.gov at the end of the process to receive an electronic pin that will serve as an online signature.
- Complete requested forms. Some students will be asked to submit forms to verify their FAFSA information.
- Accept and review financial aid offers. Go on the financial aid tab on Pipeline and accept your financial aid package
- Apply for student loans. If you want to take out student loans, you will need to complete entrance counseling and master promissory note. Go to www.studentloans.gov.
