Types of Financial Aid | Hodges University
  • The Hodges University Financial Aid Office in Fort Myers, Florida.
  • Types of Financial Aid

    Hodges University is in compliance with all requirements for eligibility to award student financial aid under Title IV of the Higher Education Act (Student Assistance). Review the Guide to Federal Student Aid here. Currently, students may be eligible for:

    GRANTS - Financial aid awards offered by the federal and state government that do not require repayment.

    SCHOLARSHIPS – Financial aid that does not have to be repaid.

    WORK-STUDY – Need-based employment on a part-time, hourly basis.

    • Federal Work-Study (FSW) Program – provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. To qualify, students must be enrolled, be in good academic standing and have a demonstrated financial need. https://studentaid.ed.gov/sa/types/work-study

    LOANS – Financial aid that must be repaid with interest. Hodges University’s Financial Aid staff want to ease your concerns regarding student loans. Read our recent article, “ Removing the Negative Mindset: Five Student Loan Benefits,” to learn ways student loans can benefit your future.

    • Federal Direct Student Loans – the most popular low-interest education loan designed for undergraduate and graduate students.There are two types of Federal Direct Student Loans: subsidized and unsubsidized. Depending on household income, a student may be eligible for one or both varieties of student loans.
      • Subsidized Loans are awarded based on financial need. Student borrowers are not required to pay the interest that accrues while enrolled in school. The federal government pays the interest on subsidized loans for students that are enrolled at least half-time as well as during the first six months of the grace period. Effective July 1, 2013, subsidized loans were limited to 150% of the length of a student's academic program. Graduate students are not eligible for subsidized loans.
      • Unsubsidized Loans are not awarded based on financial need. Student borrowers are charged interest while in school but may choose to have the interest payment deferred while in school. If the student borrower selects to defer interest payments while in school, at repayment, the amount owed will be increased by the interest that has accrued. If the student borrower chooses to pay the interest while in school, the borrower will need to contact their servicer to set up payment arrangements.
    • PLUS Loans - federal loans that parents of dependent undergraduate students can use to help pay education expenses that are not covered by other aid. 
      https://studentaid.ed.gov/sa/types/loans/plus
    • For all types of loans, Hodges University determines the amount that students can borrow and/or are eligible to receive for each academic year by considering the cost of attendance and the amount of other financial aid that students are eligible to receive. The limits on the amounts in Federal Direct Subsidized and Federal Direct Unsubsidized Loans that students may be eligible to receive each academic year (annual loan limits) and over the student’s academic career (aggregate loan limits). These limits depend on what year the student is in school (grade level) and (for Federal Direct Subsidized and Federal Direct Unsubsidized Loans), whether the student is a dependent or independent student. If the student is a dependent student whose parents are ineligible for a Federal Direct PLUS Loan, the student may be able to receive additional funds from Federal Direct Unsubsidized Loans, up to the amounts that are normally available only to independent students.
    • At least half-time enrollment is required to secure Federal Direct Student Loan funding, and the student cannot be in default on any Title IV aid. Repayment of Federal Direct Student Loans begins six months after graduation or when a student’s enrollment drops below half-time. For more information on Federal Direct Subsidized and Unsubsidized Student Loans including the annual and aggregate loan limits and current interest rates, visit: https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized
    • Federal Direct Student Loan borrowers must complete Federal Entrance Loan Counseling and complete a Direct Loan Master Promissory Note. Studentloans.gov is the website where students will complete Exit Loan Counseling upon graduating, leaving school, or dropping below half-time enrollment status. All of these requirements can be completed at: https://studentloans.gov/myDirectLoan/index.action
    • Private or alternative loans are designed to bridge the funding gap when savings, grants, federal loans, and other resources are not enough or simply not available. Private or alternative loans are provided by private lenders and are based upon the credit worthiness of the borrower and/or co-signer. Hodges University encourages all students to file the Free Application for Federal Student Aid (FAFSA) and exhaust all eligibility for federal and state funds before applying for private or alternative loans.

    VETERANS BENEFITS – Education benefits under Post-9/11 GI Bill.

    • If you are a veteran or you are the spouse or dependent of a veteran, education benefits may be available. Under the Post-9/11Veterans Education Assistance Act of 2008, many veterans who served after September 11, 2001 and active-duty service members are eligible for a comprehensive education benefits package that goes beyond helping to pay for tuition. For more information, visit www.gibill.va.gov or call 1-888-442-4551.
    • Eligible veterans planning on using their educational benefits at Hodges University should visit the Dr. Peter Thomas Veterans Services Center for more information or contact the center’s director at VeteransServices@hodges.edu.

    Hodges University Student Loan Code of Conduct

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