Financial Aid Policies

Maximum Award Policy: A financial aid package cannot exceed the total cost of attendance for the designated academic term(s). The cost of attendance is calculated by Holy Cross College and includes both direct costs (tuition, fees, room and meals) and indirect costs (books, transportation, and personal expenses). If adjustments are necessary, offers of campus employment and Federal Direct Unsubsidized Loans will be reduced before Holy Cross gift assistance.

Outside/Private Scholarships: If you receive an outside/private scholarship, please notify the Office of Financial Aid so that the award can be added to your financial aid notification. This includes private scholarships, veterans’ benefits, vocational rehabilitation benefits, and fee reduction remission benefits. Receipt of any outside/private scholarships may result in adjustments to a financial aid notification if the resulting package exceeds cost of attendance or awards designated for tuition and fees only exceeds those direct costs.

Holy Cross Scholarships: Students are required to maintain a minimum GPA standard in order to maintain eligibility for Holy Cross merit scholarships and Signature Scholarships. If GPA standards are not met, awards may be reduced or revoked.

Institutional Aid Policy: It is the policy of Holy Cross College that students enrolling in fewer than 12 credit hours will not be eligible for any Holy Cross institutional aid, merit nor need-based, for that academic term.

Satisfactory Academic Progress: Federal regulations require colleges to establish and apply reasonable standards of satisfactory academic progress (SAP) for the purpose of the receipt of financial assistance under the programs authorized by Title IV of the Higher Education Act. To read Holy Cross College’s SAP policy, see Satisfactory Academic Progress Policy for Holy Cross College.

Withdrawal and Return of Title IV Funds: Federal regulations require Title IV financial aid funds to be awarded under the assumption that a student will attend the institution for the entire period in which federal assistance was awarded. When a student withdraws from all courses for any reason, including medical withdrawals, he/she may no longer be eligible for the full amount of Title IV funds that he/she was originally scheduled to receive. To view Holy Cross College’s policy, see Withdrawal and Return of Title IV Funds Policy (R2T4 Policy).

Student Rights and Responsibilities

A student has the right to:

  • All information submitted to the financial aid office will be treated as confidential as mandated by the Family Educational Rights and Privacy Act
  • An explanation of his/her financial aid package.
  • Accept or decline any financial aid that is offered.
  • Know what portion of his/her financial aid package is aid that must be repaid and what portion is gift aid.
  • Be notified of changes in financial aid status and eligibility.
  • Know how Holy Cross determines your financial need. This process includes how costs for tuition and fees, books, and living expenses are considered in your budget.
  • Allow parents/relatives to access financial aid information if an information disclosure release form is submitted.
  • Access financial aid information at any time by logging in to his/her student portal account.

A student has the responsibility to:

  • Respond to all requests from the financial aid in a timely manner.
  • Use financial aid funds for education related expenses only.
  • Report any outside scholarships/assistance that he/she will be receiving to the financial aid office
  • Make sure all financial aid forms are completed accurately and returned in a timely manner.
  • Repay student loans on time.
  • Notify Holy Cross and your lender of changes in your name, address, or school status.
  • Know and comply with deadlines for applying for financial aid, completing verification, completing the MPN and entrance counseling, and paying his/her balance.
  • Know and comply with Holy Cross’s Satisfactory Academic Progress Policy.
  • Read and understand all forms and agreements that you sign.
  • Know that changes in enrollment and housing can affect his/her financial aid package. Students should meet with the financial aid office before dropping classes or moving on or off campus.
  • Act in a professional manner when speaking with any college faculty or staff member. Students who raise their voice, become angry, or threaten a Holy Cross employee may be subject to disciplinary action.
  • Ask questions if you don’t understand something about financial aid. The Holy Cross financial aid office will be happy to assist you!