Applying for Financial Aid
You must complete the Free Application for Federal Student Aid (FAFSA) in order to be considered for federal loan funds at www.fafsa.gov. You must indicate the federal school code for Chestnut Hill College (003245) on the FAFSA. This will insure that your FAFSA information will be sent to the Financial Aid Office at Chestnut Hill College. You will then be issued a financial aid package for you to review and accept on the CHC portal at my.chc.edu. New students will receive their portal log-in after they have registered for classes.
Eligibility for Federal Loans
To be eligible for federal loans you must be at least half-time (taking at least 4.5 credits per semester and matriculated in a degree program). After your first year in a graduate program, you must be making satisfactory academic progress toward your degree. You must also be either a U.S. citizen or a permanent resident of the U.S. You will be billed on a per-credit basis. The Cost of Education includes, but is not limited to, tuition costs, books and supplies, living expenses and transportation costs. The Expected Family Contribution (EFC) is based on the information you provide on the FAFSA. Your Cost of Education along with your EFC is used to calculate your eligibility for federal loans.
What is the FAFSA?
The FAFSA (Free Application for Federal Student Aid) asks for your financial information so that the financial aid staff can determine your financial need. To determine your EFC (expected family contribution), the US Department of Education uses a formula called the Federal Methodology which takes into account your income, assets, debts, size of family, number of family members in college and other expenses.
What Happens After You Complete Your Financial Aid Application?
The Financial Aid Office will send you a financial aid award letter that will detail your awards for fall, spring and summer semesters. If you are interested in borrowing the Federal Direct Loan funding on your award letter, follow the instructions to complete the Loan Master Promissory Note (MPN) and Entrance Counseling on www.studentloans.gov. If you want to make changes to your financial aid package, these can be requested on my.chc.edu “click” student, “click” financial aid.