RHIT Financial Aid Award Notification Guide

Award Basics

Financial Aid Award

Your financial aid award describes the cost of attending Rose-Hulman and the financial aid available to help you meet these expenses.

We have considered you for all available assistance based on the information we have at the time of the award packaging.  If your financial aid award does not show one of the types of aid described here, either you were not eligible for that aid, funds were no longer available from that source, or we have not been notified of your award from the donor.  Your financial aid award may be changed if your financial need changes, you receive funding from other sources, or the data on your Free Application for Federal Student Aid (FAFSA) changes.

Estimated Cost of Attendance

The financial aid award lists the total estimated cost of attendance, including both direct and indirect cost.  We use actual costs for full-time tuition, standard room and board, and school fees.  Other costs may vary, so we use averages for such items as books and supplies, personal expenses, and miscellaneous expenses.

Expected Family Contribution (EFC)

Your EFC is the amount your family is expected to contribute toward your education.  Your EFC is calculated using a federal formula and is based on information you supplied on your FAFSA. Your financial need is calculated by subtracting your EFC from the total cost of attendance.  Most financial aid programs are based on your financial need.  Other programs will allow you to borrow your EFC to help you meet your costs.


Your FAFSA may be selected for a process called “Verification”.  This means the Department of Education has instructed Rose-Hulman to verify the data you completed on your FAFSA before disbursing any federal financial aid.  We will notify you of the documents needed via email and letter. 

Revised Award Notification

Regulations require the Office of Financial Aid to notify you each time we adjust your award.  Our notifications will be made via email with instructions to log onto our self-service Banner Web.

Student Financial Services Office (SFS)

The SFS Office works hand in hand with the Office of Financial Aid, so we wanted to make you aware of the differences between our offices.  Financial Aid will handle all of your financial aid, including awarding and disbursing to your account.  The SFS Office will send you an invoice every trimester and accept payment from you.  Please contact Financial Aid concerning financial aid matters and SFS concerning billing issues.

Enrollment Status

Your financial aid award is based on a full academic year of full-time enrollment.  If your plans change from this, your award will be adjusted accordingly.  Students graduating at the end of any term are ineligible for undergraduate financial aid in subsequent terms.




12  Cr. Hrs.

¾ time

9-11 Cr. Hrs.

½ time

6-8 Cr. Hrs.

< ½ time

1-5 Cr. Hrs.


Gift Aid

Gift aid, such as scholarships and grants, does not have to be repaid. 

Pell Grant

This federal grant is for undergraduates working toward their first bachelor’s degree.  The amount of Pell Grant is based on your EFC.

Federal Supplemental Educational Opportunity Grants (FSEOG)

This federal grant is awarded to high-need Pell Grant recipients whose Expected Family Contribution (EFC) is below a certain threshold.

Freedom of Choice

The student and parent must reside in the state of Indiana and must file FAFSA before March 10th to be considered for these grants.

RHIT Grant

This is a need-based grant that can be re-evaluated each year or with every change in your financial need.  The availability of this award will also depend on institutional funding available for the academic year.  You must file a FAFSA each year to determine your eligibility to be considered for this award. 


Rose-Hulman Merit

All admitted students are automatically considered for this scholarship.  Rose-Hulman Merit Scholarships are awarded to students based on a number of academic and non-academic factors.  Depending on institutional funding, this scholarship is renewable with no GPA requirement.

Rose-Hulman Endowed Scholarships

These awards are limited in number and have specific restrictions placed on them by the donor.  All students who meet eligibility requirements for these awards will automatically be considered.  In most cases, the Rose-Hulman Financial Aid Committee will award these scholarships based on the information provided in the student’s admission file.

National Merit Finalist Scholarships

These scholarships are awarded by Rose-Hulman, corporations, and the National Merit Foundation.  The awards range from $1,000 to $2,000 depending upon the student’s financial need.

ROTC Scholarships

These awards are awarded by the Army or Air Force and can be used at Rose-Hulman to cover a percentage of tuition, an allotment for books, and a monthly stipend. 

Outside Scholarships

Outside scholarships are awarded through donors/agencies outside of Rose-Hulman and will be used as a resource to meet your financial need.  Upon receipt of these funds, the Office of Financial Aid will adjust your award accordingly.

Outside scholarships are regulated by NCAA Division III rules (bylaw  Outside scholarships may consider high school athletic participation but are subject to these restrictions:

     Must be awarded to a student initially enrolling in college (not to continuing students);

     Renewal criteria may not be based on athletics;

     Awards must be available for use at any institution;

     Award donors may have no direct connection to Rose-Hulman Institute of Technology;

     Award programs must be established and continuing (not created for one-time award).

Students may not accept awards that do not comply with these rules.  Awarding agencies may be asked to certify compliance.

Room and Board Scholarships

Starting with the Class of 2017, all students that have been awarded a Room and Board Scholarship must live on campus in order  to receive the scholarship.  The scholarship amount will adjust as the room and board charges change year to year.    When awarded a Room/Board Scholarship, Rose-Hulman will lower the amount of the scholarship based on the pell grant and seog grant amounts.




Student Employment

Approximately 60% of our students participate in either the Federal College Work Study program or Rose-Hulman Work Opportunity program.  These programs allow students to work on-campus in a flexible schedule environment. We also offer opportunities to work off-campus with local community service organizations.  Students wanting to earn the full amount of a typical award of $1,300 would need to work an average of 8 hours per week over the course of the academic year.  These funds are paid directly to the student on a bi-weekly basis as he/she performs the work.  THE FUNDS WILL NOT BE CREDITED TO YOUR INVOICE.

Federal Loans

Loans are funds you must repay.  You have been considered for all loan types and awarded loans for which you have eligibility.  The amount listed on your financial aid award is the maximum amount you are eligible to receive in a particular loan.

You may decline or reduce any loan amount awarded via Banner Web.  You will remain eligible to apply at a later time, if necessary, by contacting the Office of Financial Aid.

The following federal loans are handled thru the William D. Ford Federal Direct Loan Program and require you to file a FAFSA to determine your eligibility.

If you are a first-time borrower for the Federal Direct Subsidized or Unsubsidized Stafford Loan, you must complete an electronic Master Promissory Note and Entrance Loan Counseling on-line at www.studenloans.gov.

Federal Direct Subsidized Stafford Loan  

The interest on this need-based loan is paid by the federal government as long as you maintain at least half-time enrollment.  Interest will begin to accrue after you graduate or drop below half-time enrollment at a fixed-rate determined by the federal government. 

Loan repayment begins six months after you graduate or drop below half-time enrollment.  Interest will begin to accrue, however, as soon as you cease or drop below half-time enrollment. The federal government will deduct an origination fee of 1% (during the sequester the fee is 1.05%) from the proceeds of each disbursement prior to sending the funds to Rose-Hulman.

Federal Unsubsidized Stafford Loan 

The interest on this non-need based loan accrues from the time the loan is disbursed until paid in full.  The interest rate is fixed at 3.76% annually for the 16/17 year.  Rates for the 17/18 loans will be available July 1.  You may pay the interest while you are in school, or it will be added to the principal balance of the loan when you enter repayment.

Loan repayment begins six months after you graduate or drop below half-time enrollment. The federal government will deduct an origination fee of 1% (during the sequester the fee is 1.05%) from the proceeds of each disbursement prior to sending the funds to Rose-Hulman.

                   Borrowing Limits

(combination of subsidized and unsubsidized loans)
















Max Total Subsidized



Max Total Sub. & Unsub.




Federal Direct Parent PLUS Loan

This loan is available for parents of dependent undergraduate students.  A credit check is required, but the parent’s debt and current income is not considered.  A parent may borrow up to the amount of the student’s cost of attendance less any other financial aid.  The amount of eligibility is listed on the student’s award letter.  The interest rate is fixed at 6.31% annually for the 16/17 year.  A new interest rate for the 17/18 PLUS loan will be available July 1.  Interest accrues from the time the loan is disbursed until the loan is paid in full.  Parents have the option of beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed or requesting a deferment to begin repayment six months after the dependent student ceases enrollment or drops below half-time status.  The federal government will deduct an origination fee of 4% (during the sequester the fee is 4.2%) from the proceeds of each disbursement prior to sending funds to Rose-Hulman. YOU MUST FILE A FAFSA to be eligible for this loan.

Federal Perkins Loan

The Federal Perkins Loan is for undergraduate students who show financial need.  These funds are very limited and Rose-Hulman uses this loan as a supplemental loan for upperclassmen to help offset the lower Stafford Loan borrowing levels. The interest on this need-based loan is paid by the federal government as long as you remain in school at least half-time.  Interest will begin to accrue after you graduate or drop below half-time enrollment at a fixed rate of 5% annually.  Loan repayment begins nine months after you graduate or drop below half-time enrollment. The maximum loan per year is $5,500, and the total aggregate limit as an undergraduate is $27,500.

Private Loan Options

Private student loans are offered by outside lenders to supplement the federal loan programs.  These loans require a separate application, which is submitted directly to the lender.  You must meet the lender’s credit criteria to qualify and, in most cases, will require a co-signer for this loan.  You can view lenders that Rose-Hulman students have used in the past by visiting the following site http://www.rose-hulman.edu/offices-services/financial-aid-office/loan-programs/alternative-student-loans.aspx .  At the bottom of the page select FASTCHOICE.

Financial Aid Web Links


This website is your source for free information from the U.S. Department of Education on preparing for and funding education beyond high school.


This website is your source for information from the U.S. Department of Education about how to manage your federal student loans.


This is the website of the Indiana Commission of Higher Education Division of Student Financial Aid.  If you are a student from Indiana and receive State Aid, this site can help you manage your account.


You can utilize this website to look up any current or past federal aid.


This website is your source to file your FAFSA each year to be considered for federal and need-based student financial aid.


Rose-Hulman Office of Financial Aid
5500 Wabash Ave.
CM #5
Terre Haute, Indiana 47803
Phone# 812-877-8672
Fax# 812-877-8838 

Financial Aid Staff

Melinda Middleton - Financial Aid Director

Luann Hastings - Assistant Financial Aid Director

Candice Sutliff - Assistant Financial Aid Director

Jill Mishler - Secretary