Financial Aid at Hope University College

The primary target of the university college are needy but bright applicants.
Need is ascertained by a committee constituted of local government agencies and representatives from the poorest of the poor.
One’s brightness is assessed in terms of one’s outstanding performance in school and student profile as a motivated and purpose driven person to use the opportunities of education available.
Selections will be posted for community review to ensure that no one of means tries to exploit the opportunity that is available for needy youngsters.
Financial aid covers either the costs of tuition or allowance for room and board or both. It may be offered semesterly or partially and is not a right but a privilege to the needy provided there is funding.
The university college shall do its best to find sponsorships to cover tuition, room and board expenses for those considered to be needy and bright. Those for whom sponsors have not been found, arrangements of student loan may be made provided a student signs to a loan and is committed to pay back the loan as per an agreement and there is seed funding to enable the coverage of expenses until loan recovery.
Needy students are also encouraged to come up with their own sponsors like other NGOs, companies, governmental agencies and individuals. Textbooks shall be loaned each semester with recovery deposits for lost or damaged books.

Tuition and Deferred Payment (Student Loan)

The financial aid that may be available to needy candidates is deferred payment on the cost of tuition less the subsidy that may be applied from sources such as donations and income generation.
The deferred payment on the subsidized tuition shall materialize through a student loan arrangement that shall be framed by the Vice President for Administrative and Financial Affairs and applied as one condition of enrollment.
How many of the needy students constitute the student body of the university college and how much financial assistance one gets towards his tuition shall depend on the amount of funding that the university college gets from sources such as grants, donations, sponsorships and revenue from income generating activities.
The university college shall figure out the financial gap for financial aid by matching available funding with student financial needs. This data shall then be used to tap what can be gained from fee payers and subsequent repayment from the cited beneficiaries of deferred payment.
Student loans shall be paid within three to five years of graduation on a monthly basis. The loan shall be interest bearing and shall use the interests rates of savings that are applicable during the period of loan payment.
While payment of student loans is useful in raising up the university college’s capacity to enroll more needy students than is possible, it also has the advantage of making students work harder for their education than is otherwise the case in as much as they take part in paying for it.

Allowance for Room and Board

The university college shall do its best to find sponsorship for living allowance for primarily youngsters that hade been supported by Hope in the various programs of the Ladders of Hope.
Needy youngsters recruited from the community may benefit from sponsorship if there are more sponsors than needy youngsters from Hope. In this case, the university college shall consider both the neediest and brightest of youngsters based on an assessment and recommendation by a committee set up by the Dean of Student Life and a final decision made by the Senate.
Until the university college is able to roll out residential living arrangements, the living allowance shall covers costs for room and board in off campus living arrangement.
The amount of the monthly living allowance per student shall be proposed by the VPAFA and endorsed by the Advisory Board.