Financial aid is more than just grant assistance. Education loans are also a large part of the total financial aid available (and needed) to finance the cost of a legal education. These grants and loans come from a variety of different sources. These include, but may not be limited to, the U.S. Government, Hofstra Law institutional funds, Hofstra University funds, outside awards & scholarships sources and private education loan funds.
Hofstra Law uses a standard student budget when packaging federal and campus-based financial aid. Other educationally related expenses may be taken into consideration, such as child care, uninsured medical costs and relocation expenses (for entering students). These adjustments to the standard student budget are reviewed and approved on a case-by-case basis. A completed Budget Appeal Form (PDF) for should be submitted to the Financial Aid Office. The Financial Aid Office produces financial aid offers for admitted law students from March through August. The offers reflect eligibility for federal student loans and for some campus-based aid, such as need-based grants. Grant and scholarship awards made by the law school are assimilated into the federal student aid offer resulting in a package combining the federal student loans, campus-based aid, and grants and scholarships.
Financial need is the difference between the cost of attendance (student budget) and our assessed student and parent contributions. There are two standardized formulas used to determine family contributions. The first is called Federal Methodology. Hofstra is required by law to use this formula to determine a student's eligibility for federal financial aid. The data used to conduct this analysis is collected via the FAFSA. Graduate students are always treated as independent for the purposes of determining eligibility for federal aid and therefore, they do not need to submit parental information on the FAFSA.
The second formula is known as Institutional Methodology. Most institutions that have a substantial amount of their own institutional aid dollars use this formula to determine a student's eligibility for institutional need-based grants and loans. Institutional Methodology requires more financial information be provided, and therefore more accurately, and more equitably, reflects a family's financial strength. The data used to complete this analysis is collected via the Need Access Application. Hofstra Law students applying for need-based grants and loans are not treated as financially independent from their parents for the purposes of determining eligibility for these funds. Parent financial information is always required unless one meets the criteria of our seven-year independence policy.
Your Expected Family Contribution is determined by the data collected on the FAFSA and the NeedAccess applications. The information you provide goes through a federal and institutional methodology formula, which calculates your EFC.
Yes, Hofstra Law School offers both merit and need-based financial aid.
No. The Office of Financial Aid sends you a financial aid award letter. Your financial aid award is also available on your Hofstra Portal. Your award notice lists any scholarships, grants, loans, or Work-Study that you are eligible to receive.
The Office of Student Financial Services sends you a bill which is also available to view on your Hofstra Portal. Your bill is the actual amount you owe the University. Financial aid administered by the Office of Financial Aid is applied directly to the charges listed on your bill. You are responsible for paying any amount not covered by these awards.
The Hofstra Law financial aid process applies the same need analysis and packaging guidelines to all students. In a given school year, students with similar financial circumstances will receive similar aid packages, regardless of their year in school. However, it is not unusual for a student's financial aid award to change over the three years while enrolled at Hofstra.