An application for financial aid begins with the FAFSA, the Free Application for Federal Student Aid. This is the application for need-based aid*. You must complete and submit this form in order to be considered for federal, state, and institutional aid. The form is available online at at www.fafsa.gov. To apply at Hendrix, you must enter the Hendrix code, 001099, on the FAFSA.
The financial aid equation: COA - EFC = Need
The FAFSA determines the Expected Family Contribution (EFC), the estimated amount a family can contribute to a student's education. This amount is reported on the Student Aid Report (SAR).
The Hendrix Office of Financial Aid calculates a yearly cost of attendance (COA) budget that accounts for the College's full comprehensive fee (tuition, double occupancy residence hall room, unlimited board plan, and student activity fee) along with health insurance, textbooks, lab fees, parking permit and money for personal expenses. Your "demonstrated financial need" is the difference between the Hendrix COA and your EFC.
The Office of Financial Aid may consider circumstances not covered by the FAFSA, such as medical expenses, loss of income caused by divorce or death, or tuition costs for private secondary school. Such considerations may require the submission of tax returns or other documents.
Promptness Pays: Any accepted Hendrix applicant who files the FAFSA by March 1 automatically receives an aid package with a minimum $1,000 grant that is renewable if the FAFSA is filed each year by March 1.
Your family should make it a priority to complete the FAFSA. Some families incorrectly assume that they do not qualify for need-based assistance and skip this important step. The only way to make sure that you are eligible to be considered for need-based assistance at Hendrix is to submit the FAFSA.
*Need-based sources of financial aid include the Federal Pell Grant, Federal Supplement Grant, Federal Stafford Loan, Federal Perkins Loan, Federal Work-Study, Hendrix Aid Grant, and Hendrix Priddy Scholarship.