General Information on Financial Aid Programs

Financial Award Package

The Office of Financial Aid creates financial award packages for eligible students. Each student's financial situation is different, so each package is unique. An award package will include one or more types of financial aid. The most common types include scholarships, grants, loans, and work-study. 

Students who qualify for financial aid will be sent an award notification by mail or email. New students are sent an award notification after acceptance to the college. Continuing students will receive their award notifications by email beginning in June prior to the fall semester. To prevent delays in awarding of financial aid, submit all required documentation as requested by the Office of Financial Aid in a timely manner. Check Self-Service for any requested information from our office. All financial aid forms are located on the Financial Aid website as well as in the office. 

Financial Need

All need-based awards require the student to be degree-seeking, demonstrate financial need, and maintain satisfactory academic progress (SAP). The number of credit hours enrolled also affects the types and amount of need-based aid awarded. 

To determine a student's financial need, the student must complete the FAFSA. Need for financial aid is determined by the following calculation:

  COA - EFC = Need

COA (Cost of Attendance) is the total price of attending college. The COA consists of direct charges and indirect costs. Direct charges are what is paid directly to the college (such as tuition and fees, as well as room and meals if living on-campus). Indirect costs are expenses not paid directly to the college (such as books and supplies, transportation, and personal expenses). 

The EFC (Expected Family Contribution) is a formula calculated by the U.S. Department of Education upon completion of the FAFSA. Factors taken into consideration include, but are not limited to family size, number of students in college, income, and assets. For more information, visit https://studentaid.ed.gov/sa/.

The FAFSA for the following year will be available in December and students may complete it online at https://studentaid.gov/h/apply-for-aid/fafsa. Students should list Hood College (school code 002076) on the FAFSA. We recommend submitting the FAFSA by our priority date of March 1 to be considered for all types of need-based aid. However, you may submit the FAFSA before the end of the semester in which you are enrolled if you need financial assistance for college.

Institutional Aid

Institutional aid (scholarships, grants, and awards) helps bridge the gap between a student's (family) resources and the direct charges assessed by Hood College. Institutional funds are available due to the generosity of alumni, foundations, individuals, and other organizations. There are limited resources, and Hood College reserves the right to make adjustments at any time.

Institutional aid is only awarded to students pursuing their first baccalaureate degree. Students must be enrolled full-time (12 or more credit hours per semester), unless specified by the donor that funds may be awarded to a part-time student(s). Institutional aid may not be used for summer or winter courses. The maximum timeframe to receive institutional aid is eight semesters for first-year students and determined on a case-by-case basis for transfer students. To receive financial assistance beyond the maximum timeframe, an appeal must be approved by the Office of Financial Aid.

Merit Scholarships

Hood College has developed an extensive merit scholarship program that recognizes the achievement, talent, and potential of students. Awards are based upon the student's achievement in the classroom, ability to think analytically, talent and creativity within areas of interest, and the potential to be successful at Hood College.

All students applying for admission will be considered for merit scholarships. No special application is required. Students will be informed of their eligibility upon acceptance to Hood College.

From time to time, an individual student-applicant may qualify for consideration in more than one scholarship category. In such a case, the highest scholarship amount will take precedence in Hood's awarding process. All are limited up to eight semesters. Students are notified of yearly renewal criteria, including minimum grade point average, upon receipt of their financial award notification.

The new scholarship structure for First-Year students entering in the fall 2023 semester are as follows:

Trustee Scholarship	$30,000 per year
Presidential Scholarship	$28,000 per year
Dean Scholarship	$24,000 per year
Leadership Award	$20,000 per year
Achievement Award	$15,000 per year

The new scholarship structure for Transfer students entering in the fall 2023 semester are as follows:

Presidential Scholarship	$28,000 per year
Dean Scholarship	$24,000 per year
Leadership Award	$20,000 per year

 

Chair of the Board Scholarship

This highly prestigious scholarship provides four new full-tuition awards to academically superior students in each entering class (full-time, first-year students). To be considered for this scholarship, candidates will be invited to attend Scholars' Day, which will include a scholarship interview.

Hodson Beneficial Financial Grant

Children of former Beneficial employees with two or more years of full-time service with Beneficial Corporation and its subsidiaries are potential candidates for these full-tuition scholarships (must be enrolled full-time). 

 

Stackable Awards

BOA Leadership - awarded to incoming full-time, first-year students who demonstrate outstanding leadership. Amount varies. 

FAFSA Incentive Grant - awarded to students who enroll full-time annually for filing the Free Application for Federal Student Aid (FAFSA).

Family Discount - awarded when two or more members of the same family are enrolled. The award amount is $2,000 and awarded to the second member of the family (must be an undergraduate student). Family is defined as parent, dependent child, and/or dependent child's sibling. Both members of the family must be enrolled full-time. 

Hodson- Gilliam Scholarship - awarded to incoming full-time, first-year students and new transfer students from ethnic backgrounds traditionally underrepresented in higher education. Applicants must have demonstrated high academic achievement. Amount varies.

Honors - awarded to incoming full-time, first-year students and new transfer students who have been admitted to the Honors Program. Amount is $2,000.

Legacy- awarded to full-time, first-year and new transfer students whose parent, sibling or grandparent received a Hood bachelor's or master's degree. Amount is $1,000.

Phi Theta Kappa Scholarship - awarded to incoming full-time transfer students who are Phi Theta Kappa members and have earned an A.A. or A.S. degree. Must be a Phi Theta Kappa member at the time of admission. Amount is $2,000. 

Teacher Academy of Maryland Scholarship - awarded to incoming full-time, first-year students majoring in education who have successfully fulfilled required criteria for TAM program completion. In addition to the monetary scholarship, three (3) credits will be awarded to fulfill EDUC 204, a prerequisite education course. Amount is $3,000.

 

Hood Grants

Awarded to full-time undergraduates who demonstrate financial need. Funding is limited. Students must be pursuing their first baccalaureate degree. Hood Grants may be replaced with named funds. See Scholarships and Awards for a list of endowed and annual undergraduate scholarships. 

Financial Aid Programs

Campus Employment

This institutionally funded employment program enables eligible undergraduate students (who are not eligible for federal work-study) to earn money for miscellaneous expenses while gaining practical experience. Limited number of positions are available. 

Employee Educational Benefits

Tuition remission benefit. Please see staff manual for policy details and program rules. 

Federal Aid

To be eligible for federal aid programs students must be citizens, nationals of the United States, or permanent residents and have a valid FAFSA on file. All eligibility criteria are available at https://studentaid.ed.gov/sa/. Funding depends on federal approval and subject to change.

Federal Pell Grants

Awarded to undergraduate students with demonstrated financial need. Prorated awards may be made to eligible part-time students. Students must be pursuing their first baccalaureate degree. 

Federal Supplemental Educational Opportunity Grant- FSEOG

Awarded to undergraduate students with the greatest demonstrated financial need. Students must be pursuing their first baccalaureate degree and be a Pell Grant recipient. Limited funding available.

Federal Work-Study Program

This federally funded need-based employment program enables eligible undergraduate students to earn money for miscellaneous expenses while gaining practical experience in on- and off-campus jobs. Limited funding available.

Federal Direct Subsidized Loan

A need-based student loan program offered to undergraduate students. The interest rate is fixed. No interest accrues and generally no payments are due while a student is enrolled on at least a half-time basis. Repayment generally begins six months after the student’s enrollment status drops below half-time. For more details, visit https://studentaid.ed.gov/sa/.

Federal Direct Unsubsidized Loan

A non-need-based student loan program offered to undergraduate students. The interest rate is fixed. The six-month deferment applies only to repayment on the principal. Interest accrues when the loan is disbursed. Students are sent quarterly interest statements by their Loan Servicer and may elect to pay the interest. For more details, visit https://studentaid.ed.gov/sa/.

Federal Direct PLUS Loan

Parents may borrow a loan (if approved based on credit check) up to the cost of education, minus any financial aid received. The interest rate is fixed. Repayment of principal and interest begins when the loan is disbursed, however deferment options are available. For more details, visit https://studentaid.ed.gov/sa/.
 

Maryland State Scholarship Program

The Maryland Higher Education Commission offers several need-based grants, scholarships, and loan repayment programs for Maryland residents. The scholarships and grants most frequently awarded to Hood students include, but are not limited to, the Howard P. Rawlings Educational Assistance Grant, the Howard P. Rawlings Guaranteed Access Grant, Senatorial Scholarships, and Delegate Scholarships. In order to be considered for Maryland State aid, students must file the FAFSA by March 1. In addition, some state scholarships may require a separate application. For more information regarding the State aid programs, please contact the Maryland Higher Education Commission-Office of Student Financial Assistance at 800-974-0203 or https://.mhec.state.md.us.

Veterans’ Educational Benefits

Hood College serves as a liaison/informational resource to veterans by providing Veterans Administration forms and certifying military students for benefits. Hood College Office of Financial Aid provides services to veterans and dependents of veterans eligible for education benefits. To initiate or continue benefits, veterans must contact the Office of Financial Aid, 301-696-3411, at the beginning of each semester to complete the required paperwork, in compliance with the policies and procedures established by the Office of Financial Aid and the Department of Veterans Affairs. Information and application forms may be obtained from the Office of Financial Aid or via the Hood College Financial Aid web page, under Forms.  Educational benefit programs include:

• Chapter 30, Montgomery GI Bill
• Chapter 31, Vocational Rehabilitation
• Chapter 33, Post-9/11 GI Bill [Forever GI Bill]
• Chapter 35, Survivors’ and Dependents’ Educational Assistance
• Chapter 1606, Selected Reserve

Hood College participates in the Department of Veterans Affairs Yellow Ribbon Program. The Yellow Ribbon GI Educational Enhancement Program (Yellow Ribbon Program) is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008. Participating students remain in the Yellow Ribbon program throughout their enrollment at Hood College and remain eligible for Yellow Ribbon program scholarship as long as each of the following applies: Hood College continues to participate in the Yellow Ribbon Program, the students remain in good academic standing, and the students have remaining VA Educational Benefits entitlement.

For information on each of these programs, current payment rates, availability of benefits, or approvals, call the local Regional VA Office at 1-888-442-4551.

VETERAN ENROLLMENT

Per Public Law 115-407 (Section 103), veterans who have submitted and been approved for education benefits may enroll in, attend, and participate in courses while payment for those courses is still pending.  

Satisfactory Academic Progress Requirements for Financial Aid (SAP)

Process Overview and Responsibilities 

In accordance with the U.S. Department of Education, the Office of Financial Aid at Hood College monitors undergraduate students after the spring semester each academic year for successful completion of satisfactory academic progress (SAP) standards. For financial aid eligibility, terms are defined as fall, winter, spring and summer. All students are measured on qualitative (grade-based) and quantitative (time-based) standards. Students who fail to meet SAP standards are not eligible for any financial aid unless an appeal is approved. Students are not limited to one appeal.

Programs affected by the SAP standards include: Federal Pell Grant, Federal Direct Loans (Subsidized and Unsubsidized), Parent PLUS Loans, Federal SEOG, Federal Work-Study, state aid, institutional aid, and outside/private financial assistance.

Students who are not meeting the SAP standards at the end of the spring semester are notified in writing via email to their Hood College email address.

Cumulative Grade Point Average

The qualitative standard measures a student’s quality of performance in terms of GPA, including basic skills courses (reading, writing, mathematics). 

Each semester a student must meet the following cumulative GPA standard:

Total Hours Attempted	Minimum GPA Requirement
1-25	1.50 GPA
26-38	1.60 GPA
39-50	1.70 GPA
51-63	1.90 GPA
64-124	2.00 GPA

In order to graduate, a student must have a minimum GPA of 2.0. If a student fails to meet the above cumulative GPA requirements, the student will be suspended from financial aid but will have the opportunity to submit an appeal. 

Cumulative Completion Rate (PACE)

This quantitative standard is measured by comparing attempted credits to successfully completed credits. In order to maintain financial aid eligibility, the U.S. Department of Education requires a student to successfully complete 67 percent of the credits attempted as shown in the example below:

Hood College Office of Financial Aid calculates the pace at which a student is progressing by dividing the cumulative number of credits successfully completed by the cumulative number of credits attempted. All periods of enrollment count when assessing quantitative standards, even periods in which the student did not receive financial aid. 

Pace = Cumulative number of credits successfully completed

            Cumulative number of credits attempted

Grades of W, F, INC, and U do not count as completed courses and are not included in the GPA but will count as attempted credits. A satisfactory grade (S) grade is treated as attempted credits earned but is not included in the GPA calculation. An audit (AU) grade is not considered attempted coursework, is not included in the GPA calculation or pace, and is not counted in enrollment status for financial aid eligibility.

Repeated courses are counted as attempted hours for financial aid eligibility. The highest grade received will be included in the GPA calculation. Students can only receive financial aid for a repeated, previously passed course one additional time. If the student registers for a previously passed course the third time, the course is ineligible for financial aid.

Students are eligible up to 30 attempted hours for basic skills courses (reading, writing, mathematics) which are not counted in the quantitative standards (but are counted qualitatively). If a student exceeds 30 attempted hours without successful completion, the student becomes ineligible for financial aid and must pay for those courses prior to continuing at Hood College. 

Transfer credits that count toward the student’s current program count as attempted and completed for financial aid eligibility. Transfer credits are not included in the GPA calculation.

Due to flexibility provided through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), attempted courses will be excluded from the qualitative component if the credits not completed was a result of the COVID-19 national emergency.

Maximum Timeframe

Students must be making progress toward a degree. To quantify academic progress, Hood College must set a maximum timeframe in which you are expected to finish a program. A student must complete their program of study within 150% of the length of the program. If a student needs additional time to complete the degree, the student may submit an appeal for financial aid. Students at Hood College are expected to complete 124 credit hours to earn an undergraduate degree. Students are eligible to receive financial aid up to 186 attempted hours at Hood College (not including 30 credit hours for basic skills courses). If additional time is needed, students can submit an appeal to the Office of Financial Aid.

Financial Aid Suspension

Students are placed on financial aid suspension if they do not meet all three of the SAP standards. Hood College monitors SAP annually at the end of the spring semester and students are notified accordingly with an email to their Hood College email account. Students are not given a warning period since the process is monitored once per academic year. Students have the option to appeal for financial aid once they are on suspension.  

Re-Establishing Financial Aid Eligibility

Reinstatement of financial aid after a student is placed in financial aid suspension status is achieved in one of the following ways:

1. The student submits a written appeal via fax, email, or in person, and the Financial Aid Appeals Committee grants the appeal. The student is placed on Probation for one semester of enrollment, or on an Academic Plan for a specified number of semesters.
2. The student registers for coursework, pays tuition and fees etc. without the help of student financial aid, and does well enough in the coursework to satisfy all of the SAP standards.

Appeals Process

Students on financial aid suspension may appeal in writing to the Office of Financial Aid. Appeals must be submitted by August 1 in order to review for the upcoming fall semester. The written appeal must include the following:

1. A description of the extenuating circumstances that prevented the student from meeting the SAP standards. The student must demonstrate that they understand the reason behind the failure to meet the SAP standards.
2. A description of the course of action and/or change in situation that will allow the student to meet the SAP standards by the end of the next semester or at the next SAP evaluation period. Include specific plans to rectify the SAP suspension status.
3. Documentation which supports the statements made in the appeal.

The Financial Aid Appeals Committee may request that the student submit an academic plan signed by the student's academic advisor if the student will not be able to meet the SAP standards by the end of the next semester of enrollment. The Office of Financial Aid will notify the student by email if such documentation is needed for the appeal.

The Financial Aid Appeals Committee will review the appeal and notify the student by email within ten business days of the decision. All decisions made by the Financial Aid Appeals Committee are final.

If the appeal is granted, students will be placed on financial aid probation for one semester and are expected to meet SAP standards by the end of the semester. If, at that time, the student does not meet SAP standards, the student will be suspended from financial aid and may appeal based on extenuating circumstances. If the student is successful, the student will be removed from probation and placed in good standing for financial aid eligibility. In order to be successful, the student must meet all of the SAP standards by the end of the probation period.

If the student is placed on an academic plan as a condition of the appeal and is following the plan, the student shall remain eligible for financial aid during the time period indicated in the terms and conditions of the academic plan. The academic plan may only be modified with prior approval of the academic advisor and/or relevant student services office.

Appeals should be delivered to the Office of Financial Aid in person, or by: 

Email: finaid@hood.edu

Fax: 301-696-3812

If students are unable to fax or email appeals, they may submit all required documentation by postal mail to:

Office of Financial Aid

Hood College

401 Rosemont Avenue

Frederick, MD 21701