Costs, Financial Aid, and Scholarships

Making it AffordableHope College works with families to do everything possible to make a college education affordable. A financial aid package for a student most often involves a combination of grants, loans, and campus employment.

The following profile information displays the actual numbers of dependent students (U.S. citizens and permanent residents) who received need-based aid at Hope during the 2013-14 academic year. Within the various ranges of total parental income (including both taxable and non-taxable income), the number of eligible applicants is displayed for each income category along with the average amounts of financial aid received by these students. It is important to keep in mind that the figures listed under the heading "Average Amount of Aid Packages" (far right column) are influenced by a family's size, assets, and individual circumstances.

Financial Aid Applicant Income Profiles

Total
Parental
Income

Number of Applicants

Number
Eligible for
Financial Aid

Average Amount
of Aid Package
(middle 50%)

$0-10,000

57

56

$24,361-35,395

$10,001-20,000

65

65

$26,595-35,949

$20,001-30,000

102

102

$26,519-33,449

$30,001-40,000

127

126

$24,769-32,775

$40,001-50,000

129

128

$24,819-32,699

$50,001-60,000

117

117

$21,719-29,419

$60,001-70,000

143

141

$20,279-27,424

$70,001-80,000

135

135

$17,524-25,919

$80,001-90,000

142

141

$15,871-24,414

$90,001-100,000

127

125

$14,061-22,724

$100,001-110,000

118

115

$11,704-20,500

$110,001-120,000

127

124

$9,968-18,674

$120,001+Over

851

467

$7,300-16,624

Totals/Averages

2240

1842

$20,581*

* Used average amount of package for all students – not just the middle 50%.

The financial aid forms you file determine the level of contribution your family will be expected to pay towards your college education. This is referred to as the "Expected Family Contribution (EFC)." Your EFC will be the same regardless of the schools you apply to; thus, your financial need may vary from college to college. 

A simple formulaCollege Cost – Expected Family Contribution = Approximate aid eligibility from all sources

You must complete both the Free Application for Federal Student Aid (FAFSA) and the Hope College Supplemental Application for Financial Aid (SAF) to be considered for financial aid.

1. Free Application for Federal Student Aid (FAFSA) 
Complete and submit the FAFSA online. When filing the FAFSA electronically, both you and one of your parents must have federal Personal Identification Numbers (PINs). These PINs serve as electronic signatures on the FAFSA. Be sure to send your information to Hope College using the College's Federal School Code: 002273.

2. Hope College Supplemental Application for Financial Aid (SAF) 
Hope College mails this form to parents/guardians of prospective students in January of their senior year. You can access the SAF online where you can complete the form and print it. (Note: You cannot submit your SAF online.) Mail or fax your completed SAF to the Hope College Office of Financial Aid. To assist you in completing this form, see our online instructions and helpful hints.

The information you provide on these forms is based on your 2014 federal tax return information.

DeadlinesIt is highly recommended that both the Hope SAF and the FAFSA be filed between January 1, 2015 and March 1, 2015. Do not file prior to January 1, 2015. For more information on the financial aid forms, visit the Office of Financial Aid.

About Your Financial Aid PackageFinancial Aid Packages may contain three forms of financial aid.

Financial Aid Package NotificationThe first financial aid awards are typically sent in the end of March and are continually processed as applications and other information is received from families.