Financial Aid At Hardin Simmons University: Who Receives It?

Hardin-Simmons University offers a range of financial aid options to its students, including scholarships, grants, loans, and work-study programs. The university is committed to providing an affordable Christian education and has experience helping students secure financial aid. In fact, 98% of students at Hardin-Simmons University receive some form of financial aid, which is significantly higher than the average for private not-for-profit schools. The average financial aid package at the university is $16,682, with the average grant award being $10,760. Additionally, 77% of first-year students received need-based financial aid in the fall of 2021. The university also offers institutional aid, with 88% of students receiving any school grants, and the average school grant being $8,908. The university's financial aid office is available to answer any questions regarding financial aid and can be contacted via phone or email.

Types of financial aid at Hardin-Simmons University

Financial aid at Hardin-Simmons University comes in many forms, including merit-based scholarships, federal aid, and institutional aid. The university is committed to providing a quality and affordable Christian education, with 97% of students receiving some type of financial aid. The average financial aid package is $16,682, and the university offers multiple sources of financial aid to accommodate each student's financial needs.

The first step in applying for financial aid is to complete the Free Application for Federal Student Aid (FAFSA) or the Texas Application for State Financial Aid (TASFA) for students who are Texas residents and cannot apply for federal financial aid. These applications help determine eligibility for financial aid, which can include scholarships, grants, loans, and employment opportunities.

Need-based aid is awarded to students with financial need, as determined by the FAFSA. 77% of first-year students at Hardin-Simmons University received need-based financial aid, with an average award of $10,580. Need-based self-help aid includes federal loans and work-study programs, with an average award of $3,511 for first-year students.

Merit-based aid is awarded to students with special skills, talents, or academic accomplishments. The average non-need-based scholarship or grant for first-year students at Hardin-Simmons University was $26,601, excluding any athletic scholarships.

Hardin-Simmons University also offers institutional aid, which is financial aid that comes directly from the university itself. 88% of students at Hardin-Simmons University receive institutional aid, with an average award of $8,908. This is a competitive financial aid program, as it means fewer students will need to take out loans to pay for their education.

In addition to these forms of financial aid, students at Hardin-Simmons University can also seek outside scholarships and apply for additional scholarships through the university's endowed scholarship management system. The university provides resources and guidance to help students and their families navigate the financial aid process and make attending the university more affordable.

Average financial aid package

The average financial aid package for students at Hardin-Simmons University is $16,682. This is lower than the average for private not-for-profit schools, which is $16,488.

The average financial aid package for students at Hardin-Simmons University consists of scholarships, grants, loans, and employment opportunities. The university accepts the FAFSA or TASFA to determine student eligibility for federal and/or state financial aid.

The average need-based scholarship or grant awarded to first-year students at Hardin-Simmons University was $10,580. Additionally, 77% of first-year students received need-based financial aid in the fall of 2021. The average non-need-based scholarship or grant awarded to first-year students, excluding athletic scholarships, was $26,601.

The university also offers outside scholarships, which can be found on their "Outside Scholarship Opportunities" page. These include scholarships from the student's high school, local library, newspaper, community organizations, or church.

Hardin-Simmons University provides multiple sources of financial aid to accommodate each student’s financial needs. The Financial Aid office is available to answer questions concerning institutional and outside scholarships, grants, loans, and the overall financial aid process.

Cost of attendance

The cost of attendance at Hardin-Simmons University is the total amount of money the average student has to pay without any financial aid. This includes tuition and fees, room, board, textbooks, and personal expenses.

For the 2023-24 school year, the tuition and fees at Hardin-Simmons University were $23,460. The total cost of attendance for on-campus and off-campus students was $33,626. This is much lower than the national average cost of attendance, which is $43,477.

The total cost of attendance at Hardin-Simmons University is $46,331. This includes tuition and fees, room and board, books and supplies, transportation, and personal expenses. The net price, which is the average cost of the university after aid and scholarship funds are discounted from the total cost, is $37,206 for the average student receiving need-based aid.

The cost of attendance is used to determine a student's financial need. This is calculated by subtracting the Expected Family Contribution (EFC) from the cost of attendance. The EFC is based on the family's income, assets, family size, and number of family members in post-secondary education.

Students can apply for financial aid at Hardin-Simmons University by filling out the Free Application for Federal Student Aid (FAFSA) or the Texas Application for State Financial Aid (TASFA) if they are a Texas resident and non-US citizen. The university also offers institutional scholarships, grants, loans, and work-study programs to help students finance their education.

Average student debt

The average financial aid package at Hardin-Simmons University is $16,682. The university offers multiple sources of financial aid to accommodate each student's financial needs.

Student Loans

Student loans are a common way to pay for college, but they can lead to a significant financial burden after graduation. At Hardin-Simmons University, 70% of students take out student loans, which is 4% higher than the average for private not-for-profit schools. The average federal loan amount is $5,965, slightly lower than the average for private not-for-profit schools. Additionally, 6% of students take out private loans, with an average loan amount of $11,548.

Debt

The median federal loan debt among borrowers who completed their undergraduate degree at Hardin-Simmons University is $24,711. The median monthly federal loan payment, if repaid over 10 years at 5.05% interest, is $262. Furthermore, 14% of graduating students took out private loans, with an average private loan debt of $28,197.

Scholarships and Grants

Scholarships and grants are the most important forms of financial aid, as they do not need to be repaid. At Hardin-Simmons University, 97% of students receive any grant money, with an average grant award of $10,760. The university also offers institutional grants, with 88% of students receiving any school grants and an average school grant of $8,908.

Work-Study Programs

Work-study programs allow students to work and help pay for their education. Hardin-Simmons University offers various part-time job opportunities on campus, although there are typically more students wanting jobs than available positions.

Overall Financial Aid

Hardin-Simmons University is committed to providing a quality and affordable Christian education. 98% of students receive any financial aid, which is significantly higher than the average for private not-for-profit schools. The university's tuition is $31,686, and the total cost, including room and board, books, and supplies, is $46,331. The net price, after aid and scholarship funds, is $37,206 for the average student receiving need-based aid.

Applying for financial aid

Step 1: Apply to Hardin-Simmons University

First, you need to apply and be admitted to the university. Once admitted, you will receive information about the scholarship awards for which you qualify.

Step 2: Apply for Federal and State Grants and Loans

To initiate the financial aid process, complete the Free Application for Federal Student Aid (FAFSA). This form is available online and must be submitted by October 1 for the following school year. The FAFSA is based on the previous two years' tax information and must be filed annually. Be sure to include HSU's code: 003571.

For non-US citizens who are Texas residents, the Texas Application for State Financial Aid (TASFA) is available. The TASFA also opens on October 1 for the following school year.

Step 3: Complete Verification

Your FAFSA application may be selected for review through a process called verification. This involves confirming the information provided on your FAFSA. You may be asked to provide additional documentation, and your FAFSA information may need to be corrected if discrepancies are found.

Step 4: Submit your Texas Residency Affirmation Form

If you are a bona fide Texas resident, you must submit a Texas Residency Affirmation form to be eligible for state grant or loan funds.

Step 5: Seek Outside Scholarships

Explore external scholarship opportunities through websites like www.fastweb.com, your local library, newspaper, and community organizations. Your high school counsellor can also be a valuable resource for scholarship information.

Step 6: Apply for Additional HSU Scholarships

Once admitted to HSU, you can apply for additional scholarship opportunities through Scholarship Central, their endowed scholarship management system.

Step 7: Review Your Financial Aid Notification

After being admitted to HSU, filing your FAFSA, and submitting any necessary verification documents, you will receive an official financial aid notification. This will detail the types and amounts of financial aid for which you qualify.

Step 8: Apply for Student Employment

If you are interested in working on campus, you may apply for part-time jobs available. However, note that there are typically more students seeking jobs than available positions.

Step 9: Educational Loans

If you have been awarded a Direct Loan or need to seek additional loans, such as a Parent PLUS loan or Private Educational Loan, refer to the Loans section on the HSU website.

Step 10: Enrollment Deposit

A $300 enrollment deposit is required for all new students before class registration. This deposit is refundable until May 1.

Step 11: Payment Arrangements

Visit the HSU Business Office webpage for information on payment of accounts, payment plan options, refunds, and more.

Hardin-Simmons University is committed to providing an affordable education and has extensive experience helping students secure financial aid. With a range of scholarships, grants, and loans available, they are well-equipped to guide you through the financial aid process.

Frequently asked questions