Eastwick College and the HoHoKus Schools are committed to making education accessible and affordable. We know that financing your education can be complicated; that’s why we are with you every step of the way. All of our applicants are scheduled for a personal meeting with a financial aid counselor to develop a personalized plan to meet their educational expenses.
Financial aid is any form of monetary support that assists you in paying for education and it comes in many forms:
Types of Financial Aid
Scholarships & Grants
Grants and scholarships do not need to be paid back. Some are based upon financial need and require that you file the Free Application for Federal Student Aid (FAFSA) to determine eligibility, especially scholarships and grants from federal sources.
Loans are a form of financial aid that must be paid back with interest to the lender over an extended period of time. All students who file the FAFSA will, at a minimum, automatically qualify for a Direct Student Loan from the federal government.
Payment plans allow students to structure tuition payments and other fees into installments throughout the year instead of paying a lump sum at the beginning of their program.
How to Apply
Each year, aid applicants must submit a FAFSA. This application may be submitted in person to the financial aid office, or online at www.fafsa.ed.gov. The Financial Aid Office may request additional documentation to support a student’s request for financial assistance, including signed copies of federal income tax returns. The student’s financial aid package cannot be finalized until the financial aid office has received all requested documentation.
Students are required to reapply each year by the announced deadline. Financial aid is awarded to each student based upon need.
HoHoKus School aid is awarded by the financial aid director according to institutional guidelines for each aid program.
Who can File the FAFSA?
- Students must be one of the following: a U.S. citizen, a U.S. national (includes natives of American Samoa or Swain’s Island) or a U.S. permanent resident who has an I-151, I-155 or I-155C (Alien Registration Card).
- Male students aged 18-25 must have registered with the Selective Service.
What Happens After I File the FAFSA?
After setting up an appointment with the financial aid department and completing the FAFSA, you will receive an Award Notification and Financial Planning Worksheet based on the information you submitted.
This worksheet will list all of the financial aid that you are receiving. This may include:
- Federal Pell Grant
- Federal Subsidized Stafford Loan
- Federal Unsubsidized Stafford Loan
- Federal Parent Loan for Undergraduate Students
- Federal Supplemental Educational Opportunity Grants
- Benefits For Veterans
- Scholarships and Awards
Financial Aid Sources
Federal Pell Grant
The Pell Grant Program provides awards of up to $5,550 per academic year for financially eligible undergraduate students who have not previously earned a bachelor’s degree.
Recipients must be United States citizens or eligible non-citizens enrolled in diploma programs. The Free Application for Federal Student Aid (FAFSA) must be completed when applying for financial aid.
Eastwick College and the HoHoKus Schools participate in the William D. Ford Direct Loan program. Eligible students and their parents borrow Stafford and/or PLUS loans directly from the US Department of Education and repay the loans directly to the US Department of Education.
Promissory notes can be completed at the financial aid office or online at StudentLoans.gov. Various repayment and deferment options exist for federal loans. For further information please contact the financial aid office.
Federal Subsidized Stafford Loan
Available to students who are enrolled at least half-time and have financial need, as determined by federal formulas. Currently the interest rate is a fixed rate of 4.5 percent, and in most cases repayment must be completed within 10 years. The US Department of Education pays the interest while the borrower is in school and during grace and deferment periods. Loan amounts will be certified by the school based on enrollment status and need as determined by the federal formulas.
Federal Unsubsidized Stafford Loan
Available to students who are enrolled at least half-time. The interest rate is a fixed rate of 6.8 percent, and in most cases repayment must be completed within 10 years. The student is responsible for the interest during the life of the loan. Loan amounts will be certified by the school based on enrollment status and need as determined by the federal formulas.
Federal Parent Loan for Undergraduate Students (PLUS)
Available to parents of dependent students who are enrolled at least half-time. The parent is responsible for interest during the life of the loan. The current interest rate is a fixed interest rate of 7.9 percent. In most cases, repayment must be completed within ten years. Parents may borrow up to the cost of attendance minus other financial assistance. Loan amounts will be certified by the school based on enrollment status and dependency status, as determined by the federal formulas.
Federal Supplemental Educational Opportunity Grants (SEOG)
In addition to a federal Pell Grant and/or Stafford Loan, students of exceptional need may be awarded a federal SEOG Grant of up to $750 per academic year. Federal Pell Grant eligibility is required to be considered for this award. Eligible students automatically are considered for this grant upon submission of the FAFSA. Due to limited funds, SEOG awards are normally reserved for students most in need.
Tuition Aid Grant (TAG)
New Jersey residents who attend college full time at a New Jersey institution may be eligible to receive a TAG grant of up to $6,326 per academic year. The grant awards are based upon student need and the availability of funds. Applicants must demonstrate need for aid and must have been legal residents of New Jersey for at least 12 consecutive months before receiving the grant. Students who already have a baccalaureate degree or an associate degree are not eligible.
Benefits for Veterans
Veterans and other eligible personnel planning to receive educational assistance benefits from the Veterans Administration (VA) should obtain VA approval prior to enrolling. The financial aid director serves as the certifying official for the school.
NJ Class Loans
NJ Class loans, made through HESAA (New Jersey Higher Education Student Assistance Authority) are intended to supplement the Federal Loan Program in meeting the costs of education. Interest is charged as well as an origination fee. Students are subject to a credit check prior to approval.
Scholarships and awards offered by Eastwick College and the HoHoKus Schools
Eastwick Education does not charge placement fees. As a result, we receive many generous contributions to our scholarship fund from corporate and private communities. Scholarships varying from $250 to $2,500 (total dollar amount awarded depends on contributions) are offered with and without competitive exams. Applications may be necessary. Please inquire with the financial aide department for specifics.
Additional information and application forms are available at the school.