Financial Aid Award
We consider you for all available assistance based on the information we have at the time of the award packaging. If your financial aid award does not show one of the types of aid described here, either you were not eligible for that aid, funds were no longer available from that source, or we have not been notified of your award from the donor.
Your financial aid award may be changed if your financial need changes, you receive funding from other sources or the data on your Free Application for Federal Student Aid (FAFSA) changes.
Estimated Cost of Attendance
The financial aid award lists the total estimated cost of attendance, including both direct and indirect cost. We use actual costs for full-time tuition, standard room and food and school fees. Other costs may vary, so we use averages for such items as books and supplies, personal expenses and miscellaneous expenses.
Student Aid Index (SAI)
The FAFSA is a confidential assessment of a family's ability to pay for a student's college education. This collection of personal and financial data is used to establish the Student Aid Index (SAI). The SAI range helps schools determine how much financial support a student may need. The SAI figure is subtracted from the total expenses of the college to determine the types and amounts of need-based financial aid for which the student is eligible.
Verification
Your FAFSA may be selected for a process called “Verification.” This means the Department of Education has instructed Rose-Hulman to verify the data you completed on your FAFSA before disbursing any federal financial aid. We will notify you of the documents needed via email and letter.
Revised Award Notification
Regulations require the Office of Financial Aid to notify you each time we adjust your award. Our notifications will be made via email with instructions to log onto our self-service Banner Web.
Student Financial Services Office (SFS)
The SFS Office works hand in hand with the Office of Financial Aid, so we wanted to make you aware of the differences between our offices. Financial Aid will handle all of your financial aid, including awarding and disbursing to your account. The SFS Office will send you an invoice every trimester and accept payment from you. Please contact Financial Aid concerning financial aid matters and SFS concerning billing issues.
Enrollment Status
Your financial aid award is based on a full academic year of full-time enrollment. If your plans change, your award will be adjusted accordingly. Students graduating at the end of any term are ineligible for undergraduate financial aid in subsequent terms.
|
Enrollment |
Undergraduate/Graduate |
Amount of Financial Aid |
|---|---|---|
|
Full-time |
12 Cr. Hrs. |
100% |
|
¾ time |
9-11 Cr. Hrs. |
75% |
|
½ time |
6-8 Cr. Hrs. |
50% |
|
< ½ time |
1-5 Cr. Hrs. |
No F/A |
Gift Aid
Gift aid, such as scholarships and grants, does not have to be repaid.
Pell Grant
This federal grant is for undergraduates working toward their first bachelor’s degree. The amount of Pell Grant is based on your SAI. Please note Pell Grant pays based upon student’s actual enrollment. For less than full time enrollment the Pell Grant will pay based upon the credit hours a student is enrollment. For full time enrollment (12 hours and above), students will receive the same amount.
Federal Supplemental Educational Opportunity Grants (FSEOG)
This federal grant is awarded to high-need Pell Grant recipients whose Student Aid Index (SAI) is below a certain threshold.
Freedom of Choice
The student and parent must reside in the state of Indiana and must file FAFSA before April 15th to be considered for these grants.
FRANK O’BANNON/21ST CENTURY SCHOLAR
The student and parent must reside in the state of Indiana and must file FAFSA before April 15th to be considered for these grants.
RHIT Grant
This is a need-based grant that can be re-evaluated each year or with every change in your financial need. The availability of this award will also depend on institutional funding available for the academic year. You must file a FAFSA each year to determine your eligibility to be considered for this award.
SCHOLARSHIPS
Rose-Hulman Merit
All admitted students are automatically considered for this scholarship. Rose-Hulman Merit Scholarships are awarded to students based on a number of academic and non-academic factors. Depending on institutional funding, this scholarship is renewable with no GPA requirement.
Rose-Hulman Endowed Scholarships
These awards are limited in number and have specific restrictions placed on them by the donor. All students who meet eligibility requirements for these awards will automatically be considered. In most cases, the Rose-Hulman Financial Aid Committee will award these scholarships based on the information provided in the student’s admission file.
National Merit Finalist Scholarships
These scholarships are awarded by Rose-Hulman, corporations and the National Merit Foundation. The scholarship is $2,000 per year.
ROTC Scholarships
These awards are awarded by the Army or Air Force and can be used at Rose-Hulman to cover a percentage of tuition, an allotment for books and a monthly stipend.
Outside Scholarships
Outside scholarships are awarded through donors/agencies outside of Rose-Hulman and will be used as a resource to meet your financial need. Upon receipt of these funds, the Office of Financial Aid will adjust your award accordingly.
Outside scholarships are regulated by NCAA Division III rules (bylaw 15.2.3.5). Outside scholarships may consider high school athletic participation but are subject to these restrictions:
Must be awarded to a student initially enrolling in college (not to continuing students);
Renewal criteria may not be based on athletics;
Awards must be available for use at any institution;
Award donors may have no direct connection to Rose-Hulman Institute of Technology;
Award programs must be established and continuing (not created for one-time award).
Students may not accept awards that do not comply with these rules. Awarding agencies may be asked to certify compliance.
Room and Board Scholarships
Starting with the Class of 2017, all students that have been awarded a Room and Board Scholarship must live on campus in order to receive the scholarship. The scholarship amount will adjust as the room and board charges change year to year. When awarded a Room/Board Scholarship, Rose-Hulman will lower the amount of the scholarship based on any institutional aid, Pell Grant and SEOG grant amounts.
Disbursements for Books and Supplies
Your financial aid will arrive in your student account ten days before classes begin. If you have credit on your account, you can use those funds to buy your books and supplies at the campus bookstore.
If you don't have enough credit in your account to cover your books and supplies, we offer a program called Bucks for Books, which allows you to pay off your books and supplies by the end of the quarter in which you used Bucks for Books. To sign up for Bucks for Books, visit the campus bookstore!