Admissions

Financial Aid

Common Questions

  1. What is a 'Title IV School Code'?
  2. Will my application be kept confidential?
  3. What type of aid is available for undergraduate students?
  4. What type of aid is available for graduate students?
  5. Are any scholarships available?
  6. How much can I borrow?
  7. How does company reimbursement affect my aid?
  8. How do I defer my undergraduate student loans?
  9. How often do I have to reapply?
  10. What is the timeframe involved in receiving my funds?
  11. How do I receive my funds?
  12. How do I receive any credit balance?
  13. Will I get a refund if I have to withdraw?
  14. When do I begin making payments?
  15. What is a 'Leave of Absence'?
  16. What is the phone number for the U.S. Department of Education?

Ever wondered why you should go to college, how to go, and how to pay for college? Visit www.college.gov for information, useful tips and instructions to assist you with these questions.

1. What is a 'Title IV School Code'?

A Title IV School Code is designated by the U.S. Department of Education. All schools that are able to offer federal financial aid are issued this code. The Title IV School Code for all Hope International University is: 001252.

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2. Will my application be kept confidential?

All records are held in strict confidence. Information related to your academic, financial aid, or accounting files will be released only to you and only with proper identification. If you want other parties (including your spouse) to have access to this information, you must submit a notarized letter of authorization on a separate piece of paper to each individual office.

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3. What type of aid is available for undergraduate students?

  • Federal PELL Grant - Targeted to highest need students.
  • Federal SEOG Grant - Targeted to highest need students. Must be a Pell Grant recipient.
  • Federal Subsidized Direct Loan - Based on need. Interest-free while you are in school and for six months after your last day of class.
  • Federal Unsubsidized Direct Loan - Not based on need. Interest (for which you are responsible) accrues while you are in school. You have the option of paying the interest while you're in school, or having it added to the principal when you go into repayment (six months after your last day of class).
  • Cal grant - Available for California residents who graduated from a High School in California. Deadline: March 2nd. Visit www.csac.org for more details.
  • Federal PLUS Loan - Available to parents of dependent students. Interest accrues while you are in school. Repayment begins 60 days after the loan is fully disbursed for the academic year.

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4. What type of aid is available for graduate students?

  • Federal Subsidized Direct Loan - Based on need. Interest-free while you are in school and for six months after your last day of class.
  • Federal Unsubsidized Direct Loan - Not based on need. Interest (for which you are responsible) accrues while you are in school. You have the option of paying the interest while you're in school, or having it added to the principal when you go into repayment (six months after your last day of class).

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5. Are any scholarships available?

Hope International University does not offer any institutional scholarships, however additional funds may be available through one or more of the following sources:

fastWEB - Financial Aid Search Through the Web
FinAid - Unusual sources of funding links
American Educational Guidance Center - Free college scholarship search through
CollegeBoard - Free college scholarship search through
Scholarhips.com, LLC - Free college scholarship search through
The Financial Aid Information Page
Minority scholarship links
Scholarships for all minorities
American Indian College Fund - Provides funding and assistance
Scholarships for Latino students
Hispanic scholarship fund
International Education Financial Aid

Provides a free searchable database of scholarships for international students

United Negro College Fund
ESA Foundation Scholarships

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6. How much can I borrow?

The maximum amounts available are listed below.*

Freshman (0-30 units)

  • Dependant 5500/yr
  • Independant 9500/yr

Sophmore (31-60 units)

  • Dependant 6500/yr
  • Independant 10,500/yr

Junior/Senior (61 units and above)

  • Dependant 7500/yr
  • Independant 12,500/yr

*Please note: Maximum amounts are listed above; you may or may not qualify for the maximum.

MBA Degree Programs - Base of $8,500 for each loan period of at least 24 credits and 40 weeks; varies by program. The maximum loan limit can exceed the direct costs of tuition and books. Second loan period may be prorated based on credits and weeks remaining.

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7. How does company reimbursement affect my aid?

You can still apply for federal aid even if you will receive 100% company reimbursement for tuition and books. However, estimated company reimbursement, VA benefits, and outside scholarships must be taken into account when aid eligibility is determined.

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8. How do I defer my undergraduate student loans?

You must contact your current loan servicer(s) and request an "In-School Deferment Form". You will need to complete and mail the form to our Academic Records Department at Hope International University. The form will then be completed and returned to your loan servicer(s) once your class has started.

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9. How often do I have to reapply?

Each year you must re-apply for financial aid by completing your FAFSA. The FAFSA is available online each January for the next school year.

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10. What is the timeframe involved in receiving my funds?

In order to have your tuition payment deferred until the award process can be completed, you must have the following documents on file before you begin class:

  • Submitted the Authorization to Apply Funds, the Satisfactory Academic Progress Policy, and the Rights & Responsibilities form.
  • Submitted the original signed FAFSA or processed results
  • Accepted to the program.
  • Completed Loan Application (Master Promissory Note)

Once the official roster has been issued verifying you are attending class, your loan application will be certified. You will receive an Award Letter and Loan Checklist via U.S. mail approximately 2-3 weeks after starting class. Your award letter will state the anticipated disbursement dates that the Department of Education will issue your funds, not the dates funds will actually be posted to your account.

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11. How do I receive my funds?

Your loan funds will be disbursed directly to Hope International University either electronically or by paper check. Your Loan Information Checklist or on-line entrance counseling results must be on file with our Financial Aid Office. You must currently be attending class before the scheduled disbursement will be released.

There are usually two disbursements per loan period: one each semester.

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12. How do I receive any credit balance?

Many students opt to keep their money on account for ease of subsequent payments. However, if you choose to have the credit balance returned, it is important that the EFT release form or the endorsed check(s) be returned to us immediately. Checks for financial aid credit balances will be mailed to your home address approximately two weeks after our Accounting Office receives your endorsed loan check(s) and/or request for credit balance.

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13. Will I get a refund if I have to withdraw?

The federal policy for this is called "Return of Title IV Funds." These regulations govern the return of aid disbursed for students who completely withdraw from a term or payment period. During the first 60% of the payment period, you will "earn" aid in direct proportion to the length of time you remain enrolled. The percentage of time that you remain enrolled determines the percentage of disbursable aid for that period. If you remain enrolled beyond the 60% point, you will earn all awarded aid for the payment period. If you plan to withdraw from a course or a program, you must notify our Student Services Office in writing. Institutional charges and financial aid are adjusted once the withdrawal date is determined. For more details, refer to the school policy.

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14. When do I begin making payments?

Federal Direct Loan repayment begins 6 months after your last date of class attendance. The standard repayment term is 10 years, with a minimum monthly payment of $50. Federal PLUS loan repayment begins 60 days after the second half of the loan has been disbursed by the lender for the academic year.

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15. What is a 'Leave of Absence'?

If you experience a serious medical, family, or scheduling problem that you anticipate may affect your attendance for more than 30 days, you may request a Leave of Absence. Breaks in enrollment trigger a mandatory recalculation of your financial aid package. However, with an approved Leave of Absence, your financial aid award will usually stay the same and the award period will be extended. By federal regulation Leave of Absence must be approved prior to any break in attendance. This Leave is not to exceed 90 days per 12-month period. It is possible for more than one Leave to be granted, provided the total days of leave do not exceed more than 90 days per 12-month period.

Process

  1. Contact your Academic Advisor immediately regarding any proposed schedule change.
  2. Request your Leave of Absence form prior to beginning your Leave. The request must bear your signature per the requirements of the U.S. Department of Education.
  3. Request for Leave of Absence form should be downloaded, completed, and either faxed (714) 681-7421 or mailed to the Financial Aid office.

Electronic signatures are not valid in this instance. In emergency situations, we may accept your written request after Leave has begun. Your loan repayment will not begin during this time period provided you have followed the steps necessary to gain an approved Leave of Absence. If you do not return from your approved Leave of Absence on your scheduled date, federal regulation requires that your financial aid award be recalculated and funds returned if necessary. Your lender will use your last day of class attendance prior to your Leave when calculating repayment scheduling.

 

16. What is the phone number for the U.S. Department of Education?

1-800-848-0979

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