Navigating Stonehill College: A Comprehensive Guide to Scholarships and Financial Aid

Planning for college expenses is a crucial step in the application process. Stonehill College, while offering a high-quality education, comes with a significant cost. Understanding the various financial aid options available can make this cost more manageable. This article provides a detailed overview of Stonehill College's tuition, costs, scholarships, and financial aid programs to help prospective students and their families navigate the college financing process.

Understanding the Cost of Attendance

Knowing what a school costs is the first step in managing college costs. The "Cost of Attendance" is the total amount of money the average student has to pay, without any financial aid, to attend a particular school. Think of it as a school’s sticker price. Stonehill College's tuition is $59,300, which is more expensive compared with the national average cost of tuition of $50,159. These figures include both tuition and fees, also referred to as the sticker price. Fees differ by institution and may fund library services, student gym facilities, student centers, technology resources and campus health centers.

The total cost, which includes the sticker price, plus the cost of food and housing, books and supplies, and transportation and personal expenses, amounts to $75,945 at Stonehill College. The cost of rooming and dorms at Stonehill College is $9657 and the cost of meals is $6103. Other costs include books and supplies ($893 per year), personal expenses ($702 per year), and transportation ($675 per year).

Net Price: What You Actually Pay

The Cost of Attendance listed above might be intimidating. The Net Price is the total cost minus the total aid given. In other words, this is the price you have to pay to the school out of pocket. Your net price is a college’s cost of attendance minus the grants and scholarships you receive. The net price you pay for a particular college is specific to you because it’s based on your personal circumstances and the college’s financial aid policies. Use the college’s Net Price calculator for the most accurate estimate of your net price. The average annual cost for students at Stonehill College is $34380. The dictionary definition of average annual cost covers expenses like tuition, books and fees, and other miscellaneous items.

The average Net Price is $31,134 per year. CostsAverage Per Year After Aid is $31,134.

Estimating Your Net Price

To get a quick, general idea of your annual Net Price at Stonehill College, here's a handy chart showing the net price of real students. Most schools have an updated Net Price calculator available. Stonehill College’s Net Price Calculator, hosted by Collegeboard.com, can provide you with information about college costs and estimated financial aid eligibility.

Expected Family Contribution (EFC)

Once you have a Net Price estimate, you’ll want to figure out whether your family can afford to pay Stonehill College tuition and costs. Once again, the Net Price is the total cost of attending, minus the aid you can expect to get (grants and scholarships). The US government has come up with a standardized way to calculate how much a typical family can afford to pay without help. As an example, a family that brings home $80,000 in income before taxes, with no assets and no other children in college, has an EFC of around $7,000. Colleges use this number as a guideline to decide how much aid to give you, but it's just a guideline. So we're going to calculate your EFC and compare it to Stonehill College's Net Price. If the Net Price is higher than the EFC, the school will cost more than you can typically afford. This tool will calculate your Expected Family Contribution, or EFC. In order to calculate this amount, we need just 4 pieces of information from you. According to the information you’ve entered above, your Expected Family Contribution should be about $. This is the amount that the federal government thinks you can afford to pay for school. Please note this tool is only an approximation, and your personal situation may cause your EFC to vary.

Understanding Financial Aid

Financial aid can include grants, loans, scholarships and work-study jobs. Financial aid packages vary depending on your financial need. Most colleges determine financial need based on your FAFSA. Stonehill College awards financial aid, as funds permit, on the basis of demonstrated financial need and academic performance. In keeping with the philosophy that the primary responsibility for financing an education rests with you and your family, the Office of Student Financial Assistance reviews your financial aid application to determine your family’s financial strength. Your Student Aid Index is the amount your family can reasonably be expected to contribute to the cost of your education for one year from assets, current income, and future income. The difference between your Cost of Attendance for one year and your Student Aid Index for that year is your Financial Need or Eligibility for Financial Aid. Although Stonehill attempts to meet Financial Need/Eligibility with funding from institutional, state, and federal resources, the College cannot guarantee to meet 100% of your need. Stonehill utilizes the Free Application for Federal Student Aid (FAFSA) to determine eligibility for government funds. Need-based awards for new students are tentative because they are based on unverified data provided in your FAFSA. Your award may be adjusted after receipt and verification of financial and household data requested by the College. In addition, if there is a change in information originally submitted on your FAFSA, your financial aid package may be impacted. Per federal regulations, the receipt of private scholarships may affect a financial aid package. If required by federal regulations to adjust an aid package, the College will eliminate or reduce: 1) SEOG then Perkins/NIL Loans; 2) Federal Work-Study; and 3) Federal Direct Student Loan, in that order.

Types of Financial Aid

Financial aid comes in several forms, each with its own terms and conditions:

Grants and Scholarships: These are forms of aid that do not need to be repaid. They are typically awarded based on financial need (grants) or merit (scholarships).
Loans: These are borrowed funds that must be repaid with interest. They can be federal or private.
Work-Study: This program allows students to earn money through part-time jobs on campus to help cover expenses.

Grants and Scholarships

We’re focusing on grants and scholarships first because they’re the most important forms of financial aid. Grants and scholarships are better than loans because students don’t ever have to pay them back. At Stonehill College, 63.56% of students receive financial aid. Freshmen With Need and Received Financial Aid is 98.27%. The average Aid Packages Awarded is $43,798. The average need-based scholarship or grant awarded to first-year students at Stonehill College was $37,736. Additionally, 68% of first-year students received need-based financial aid in fall 2023.

Read also: Stonehill College Overview

Stonehill College awards financial aid (need-based, merit, athletic and gift aid) based on the annual total cost of attendance, whereby total aid from all sources will not exceed billed costs. If a situation arises where the College makes an adjustment to the total billed costs, institutional aid will be adjusted accordingly. Changes to institutional charges which would impact the total billed costs could include adjustments to tuition, room and board, and fees.

Need-Based Scholarships and Grants

Need-based scholarships take a student’s financial status into account. Need-Based Scholarship or Grant Award Scholarships and grants don’t need to be paid back. $38,239. Average Need-Based Scholarship or Grant Award (First-year Students).

Merit-Based Scholarships

Merit-based aid, also called non-need-based aid, is awarded for a specific talent or academic achievement. The average non-need-based scholarship or grant awarded to first-year students at Stonehill College - excluding any athletic scholarships, if applicable - was $32,054. Merit scholarships, awarded at the time of admission, beginning with the class of 2026 include, Shields Merit Scholarship, Stonehill Scholarship and the Stonehill Founders Award. While the name of the award may be adjusted based upon institutional resources and the potential availability of donor funds, there is no expectation that amounts will change in subsequent years of enrollment, except for a change in residency status. All merit based awards are renewable for up to four years providing the students maintains a required cumulative grade point average of at least 2.00 and Satisfactory Academic Progress. Institutional grants are tied to the family’s financial circumstances and requires annual completion of financial aid applications.

External Scholarship Opportunities

In addition to Stonehill's institutional aid, students can explore external scholarship opportunities. Some examples include:

Restricted & Endowed Scholarships: These are awarded for one year only, although you may apply for consideration in subsequent years.
Full Circle Scholarship Program: This program is awarded to students attending non-tribal colleges.
Asian Pacific Fund: This fund supports the Asian and Pacific Islander community in the Bay Area.
Café Bustelo: El Café del Futuro Scholarship: The Hispanic Association of Colleges and Universities partners with Café Bustelo to award ten eligible college students $5,000 scholarships.
Hispanic College Fund: This fund assists students of Hispanic heritage in obtaining a college degree.
United Negro College Fund Scholarships: This fund provides various scholarships to undergraduate students.

Student Loans

Aside from grants, the other major way to pay for college is with student loans. The more student loan money you borrow, the more debt you’ll end up with after graduation. Ideally, you want to minimize your student debt as much as possible. It’s generally a bad sign if a school has many students taking out a lot of loans.

Read also: Academics at Stonehill

Federal Loans

Federal loans tend to have low interest rates, which means they cost less in the long run. Need-Based Loan Amount Loans must be paid back is $3,786. At Stonehill College, 70% of all students take out federal loans. At Stonehill College, the average annual federal loan amount is $5625.

Private Loans

Other loans, or private loans, are the last resource students turn to when paying for college. At Stonehill College, 15% of students take out private loans. Just as important as the percentage of students with private loans is the average loan amount. The average private loan amount at Stonehill College is $9389. The percentage of students getting federal loans is greater than those getting private loans, which is a good sign.

Student Loan Debt at Graduation

The typical amount of loans a student must pay back is $42,352. How much student loan debt you accumulate can affect your financial life long after college ends. Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate. At Stonehill College, the median federal loan debt among borrowers who completed their undergraduate degree is $25,000. The median monthly federal loan payment (if it were repaid over 10 years at 5.05% interest) for student federal loan borrowers who graduated is $265. Additionally, 24% of graduating students at Stonehill College took out private loans. Students with private loans had an average of $56,644 in private loan debt at graduation. Average Total Indebtedness of 2024 Graduating Class is $42,352. Graduating students who have borrowed (any loan type, 2024) is 68%. Graduating students who have borrowed (private loans, 2024).

Work-Study Programs

Working while in school can help lessen the burden of your student loans. Schools offer work-study programs to those who qualify and campus jobs to students looking to earn money in their free time. Some institutions match students with work-study positions, while others require them apply to the positions, like they would for any other job. Begin your job search by checking whether your college has in-person or online job boards. Need-based self-help aid includes federal loans and work-study. The average need-based self-help aid awarded to first-year students was $4,511.

Financial Aid Application Process

Stonehill utilizes the Free Application for Federal Student Aid (FAFSA) to determine eligibility for government funds. The Application Due date is Jan 15. The last day to apply for financial aid or turn in related paperwork. Applications received prior to this date will be given the strongest consideration. Still apply for financial aid if you don’t make this due date. Notification Date is Mar 31. When students receive a letter with the amount and types of aid the college is offering. Most Stonehill funded aid requires full time attendance. However, some government programs require only part-time attendance although amounts would be prorated.

Additional Financial Aid Information

Stonehill College met 85% of its students’ financial aid need. For the Class of 2029, 81% of need was met through financial aid for students eligible for need-based aid and 33% had all of their need met. Not everyone’s situation can be neatly summed up in application forms and financial documents. And even the best effort to outline all the options and make the process understandable can fall short. We understand the sensitivity of discussing family finances and offer you confidentiality, compassion and advice. Every family is assigned a Stonehill financial aid counselor to guide them through the college financing process from completing FAFSA forms to understanding the billing statement and payment options.

Institution is G.I. Bill certified Yes. Institution participates in Yellow Ribbon Program Yes. Enrollment in a program of study abroad approved for credit by Stonehill College may be considered enrollment at Stonehill for the purpose of financial aid. Any awarded Stonehill scholarships, need-based grants, and other financial aid are valid for costs associated with studying abroad as long as the tuition/fees and any applicable room and board charges are billed by Stonehill directly to the student and payable to Stonehill.

Is Stonehill College Worth the Cost?

Chances are, college won't be cheap. Have you considered a range of private and public schools? What if you didn't attend college at all? Here's our take: college will be a really important stage in your development. Going to a better, more reputable college will usually pay off in the long run. To determine the value of Stonehill College, we're going to rely on reputable ranking lists. Stonehill College gets this verdict primarily on the school's reputation. On college ranking lists, it often ranks between #50 and 100, putting it roughly in the top 10% of schools. On value rankings lists, Stonehill College doesn't often appear. This usually means that, compared to other schools of similar reputation, {[s.get_name}} has a higher net price and may offer less competitive financial aid. Overall, we still believe Stonehill College is a high value school that is worth the cost. I think it’s particularly interesting to look at the salary 10 years after graduation, and it’s probably more indicative of whether Stonehill College is worth the cost. The future earnings potential is going to be much higher if you go to Stonehill College compared to not attending college at all. Often times, students enroll in the cheapest university available to them. There’s a lot of reasons why the average salary for Stonehill College students would differ from its peer schools.

Finding More Affordable Options

Since Stonehill College has a pretty strong reputation, you'll have to submit a solid application to get in. How do you compare to other students accepted to Stonehill College? Your next step should be to get a better idea of costs and aid availability at similar schools. If you’re interested in Stonehill College, you should check out some other high-value schools that could give you more bang for your buck. Get started here to check both in-state and out-of-state schools that might provide a better value. Finally, we're going to look at schools that might offer a better value than Stonehill College. To compile this list, we first find schools at similar academic levels, so you have a similar chance at getting in. It’s hard to know exactly what schools will be a great value for you without information on your family income. There are a lot of potential financial benefits that come with attending a school close to home. For example, in-state public schools tend to have subsidized tuitions for state residents. Here are just a few related schools to Stonehill College that may be of interest.

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