Hanover College: Scholarships and Financial Aid Opportunities

Choosing a college is a significant investment, and Hanover College is committed to making higher education affordable and accessible for all students. Understanding the financial aid options available is a crucial step in the college application process. Hanover College strives to meet the individual needs of undergraduate students through various forms of financial assistance. 100% of Hanover students receive some form of financial aid.

Understanding the Cost of Attendance

The "Cost of Attendance" represents the total amount of money the average student has to pay, without any financial aid, to attend a particular school. It's often referred to as the sticker price. At Hanover College, tuition is $46,232. Your rate is locked for four years! Food (meal plan) is $7,626. This is the cost of any meal plan we offer. Avg. Housing is $7,034. This is the average cost of Hanover housing. *These costs apply to residential students. Commuter students have a $550 annual commuter fee. For purposes of calculating total cost of attendance and aid eligibility, commuters are allocated a reduced amount for housing ($5,500) and food ($5,550). Other costs include Parking $110 Charged only if you plan to keep a car on campus, Course-Specific Costs $0-$750 Depending on your course selection, there may be lab fees, certification or testing requirements, Federal Direct Loan Origination Fees $78 This is for federal subsidized and unsubsidized student loans only. If Parent PLUS loan is taken, additional fee amount will be added, Athletic Insurance $400 Students who participate in varsity or junior varsity sports are required to have additional insurance, Miscellaneous $500-$1,500 Expenses such as supplies, equipment, transportation, toiletries, shopping or dining off campus, computer rental, etc.Compared with the national average cost of tuition of $51,147, Hanover College is cheaper. 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. At Hanover College, the total cost is $59,152.

Types of Financial Aid Available

Hanover College offers several types of financial aid to assist students in meeting the cost of their education. These include scholarships, grants, loans, and work-study programs.

Scholarships: Funding You Don't Have to Repay

Scholarships are a form of funding that you don’t need to pay back. They can be need-based, merit-based, or awarded based on specific criteria such as community service, unique hobbies, personal background, or a parent’s affiliation (e.g., employer or military). Some students receive enough scholarship money to cover their tuition and living expenses. Scholarship decisions are based on an applicant’s weighted GPA at the time of applying; utilizing the GPA as provided by the high school on the applicant’s transcript. Test scores submitted will be considered in application review, but will not affect merit scholarship consideration.

Need-Based Scholarships and Grants: These take a student’s financial status into account. The average need-based scholarship or grant awarded to first-year students at Hanover College was $33,805. In fall 2022, 83% of first-year students received need-based financial aid.

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Merit-Based Scholarships and Grants: These are awarded to students for academic or athletic achievement. The average non-need-based scholarship or grant awarded to first-year students at Hanover College - excluding any athletic scholarships, if applicable - was $30,474.

Hanover College met 87% of its students’ financial aid need.

Specific Scholarship Opportunities at Hanover College

Hanover College provides a range of specific scholarship programs, including:

Campus Visit Award: A $4,000 award for domestic admitted students who visit campus or attend a one-on-one virtual admission event during their senior year of high school. A second visit earns another $2,000, totaling $6,000, which is then available for annual renewal as the Student Success Award.
Social Justice Leadership Program Scholarship: A $2,500 renewable scholarship for students participating in the Social Justice Leadership Program, which combines academic studies, co-curricular activities, mentoring, and a paid internship focused on social justice.
Music Scholarship: A $2,500 scholarship for students interested in music (concert band, orchestra, or choir), renewable each year upon continued ensemble participation and meeting Satisfactory Academic Progress.
Theatre Scholarship: Designed to honor talented high school students passionate about performing or technical roles in theatre.
Moses Broyles Scholarship: Three full-tuition scholarships awarded annually to students who are members of (or nominated by) Purpose of Life Ministries in Indianapolis, Indiana.
Muhammad Ali Center Council of Students Scholarship: Two full-tuition scholarships awarded annually to students who are active members of the Muhammad Ali Center Council of Students in Louisville, Kentucky.
Starfish Initiative Scholarship: One full-tuition scholarship awarded annually to an incoming first-year student who is a part of Starfish Initiative in Indianapolis and a resident of Indiana.
Indiana Pell Promise: Hanover College assists in meeting full tuition for admitted students who file the FAFSA by April 15, have a Student Aid Index (SAI) from -$1,500 to $0, and have a weighted high school GPA of at least 3.25. The award is renewable each year upon filing the FAFSA, continuing to meet the qualifying SAI and meeting Satisfactory Academic Progress.
Indiana Pell Promise "Full-Ride": For Pell-eligible Indiana students with a -$1,500 Student Aid Index (SAI) and a high school GPA of 4.0 or higher, Hanover will combine our scholarships and aid with Federal and State grants to give these students a “full-ride” (covering all direct costs of tuition, general fees, standard housing and meal plan).
Indiana Pell Promise (Tuition, Fees, and Housing): For Pell-eligible Indiana students with a -$1,500 Student Aid Index (SAI) and a high school GPA of 3.75-3.99, Hanover will combine our scholarships and aid with Federal and State grants to cover the direct costs of tuition, general fees and standard housing.
K-12 Educator's Dependent Scholarship: Beginning in Fall 2025, Hanover College will award a $2,500 scholarship to first-year students whose parent or legal guardian is employed by any accredited K-12 school in Indiana - public or private.
Alumni Legacy Award: A $2,000 award to immediate relatives of Hanover alumni and current students.
Sibling Award: Incoming students who are siblings of current or past students will receive an additional $2,000 renewable award.
Lilly Scholar Benefits: In addition to the scholarship provided through the Lilly Endowment, Hanover College promises Lilly Scholars a 4-year renewable scholarship equal to the value of housing, food, and laundry fees and will also fully fund a May term off-campus experience.
STEM Scholarship: A $5,000 renewable scholarship for approximately four first-year students, preferably from Ohio, planning to major in a discipline included within the definition of STEM. The scholarship is funded through the Austin E.
Children of Fallen Heroes Award: Children of those who died in the line of duty in the military, police, or emergency workers will receive an award up to full tuition.
National Guard Supplemental Grant (NGSG): Students eligible for the National Guard Supplemental Grant (NGSG) will receive an annual award of up to $5000 towards tuition and regularly assessed fees.
Tuition and Fee Exemption for Children of Disabled Veterans or Purple Heart Recipients: Students eligible for the Tuition and Fee Exemption for Children of Disabled Veterans or Purple Heart Recipients will receive an annual award of up to $5,000 towards tuition and regularly assessed fees at the undergraduate resident tuition rate.
FIRST Robotics Scholarship: Hanover College offers ten (10) $2,000 scholarships to admitted students who have participated in a FIRST Robotics Competition or a FIRST Robotics Tech Challenge Team in high school.
Phi Theta Kappa Scholarship: This $2,500 scholarship honors members of the Phi Theta Kappa honors society as academic achievers and peer leaders in the two-year college environment.
Tuition Rewards Program: Family members can earn “points” by investing or saving with participating banks, credit unions, 529 Plans, and other financial institutions to provide students with guaranteed minimum scholarships at a national consortium of participating independent institutions that includes Hanover College. Points can be redeemed for up to the full cost of base tuition and spread evenly over four undergraduate years.
Employee Tuition Benefit: Immediate relatives of current or former employees will pay no more than $5,000 in undergraduate tuition per year after merit and other aid is applied.

Grants: Need-Based Aid

Hanover College offers numerous grants for students who demonstrate financial need. Grants, like scholarships, do not need to be repaid.

Student Loans: Borrowing for Your Education

Student loans are another way to finance your college education. However, it’s important to remember that loans need to be repaid with interest. Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate.

Federal Loans: These tend to have lower interest rates and more flexible repayment options compared to private loans. At Hanover College, the median federal loan debt among borrowers who completed their undergraduate degree is $25,250. 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 $268.
Private Loans: These are typically used as a last resort when federal loans and other financial aid options are not sufficient. At Hanover College, 57% of graduating students took out private loans. Students with private loans had an average of $20,931 in private loan debt at graduation.

The average total indebtedness of 2023 graduating class was $27,304. 90% of graduating students who have borrowed any loan type, 2023.

Work-Study Programs and Campus Jobs

Working while in school can help lessen the burden of your student loans. Hanover College offers work-study programs to those who qualify and campus jobs to students looking to earn money in their free time. Begin your job search by checking whether your college has in-person or online job boards.

Net Price and Expected Family Contribution (EFC)

The Net Price is the total cost of attending Hanover College minus the total aid given. This is the amount you have to pay out of pocket. Most schools have an updated Net Price calculator available.

The US government has a standardized way to calculate how much a typical family can afford to pay without help, known as the Expected Family Contribution (EFC). Colleges use this number as a guideline to decide how much aid to give you. If the Net Price is higher than the EFC, the school will cost more than you can typically afford.

External Scholarship Opportunities

In addition to Hanover College's internal financial aid programs, numerous external scholarships are available from various organizations. Some notable examples include:

American Occupational Therapy Foundation (AOTF) Scholarships: Over 50 scholarships are available from the AOTF and state occupational therapy associations.
AOTA E.K. Wise Scholarship: A $25,000 no-essay scholarship awarded to the applicant with the boldest profile.
F.A. Davis Scholarships: F.A. Davis offers scholarships in varying amounts, but not exceeding $1,000, to students reentering the job market, beginning a second career, or seeking to improve professional skills by continuing education.
Education.com's Empowered Future Teachers Scholarship: Awards a teaching student with a $10,000 scholarship twice per year.
Education.com's Building the Future Scholarship: Awards two aspiring early childhood education teachers with a $5,000 scholarship each towards their educational expenses twice per year.
Next Generation Hoosier Educators Scholarship: Provides 200 high-achieving high school and college students the opportunity to earn a renewable scholarship for up to four academic years.
Earline S. Rogers Student Teaching Stipend for Minorities: Available for minority students (defined as black and Hispanic individuals) who will participate in student teaching or a school administration internship.
Student Teaching Stipend for High-Need Fields: Available for students who plan to teach in a high-need field (defined as middle or high school level math or science, or special education) who will participate in student teaching.
William A. Crawford Minority Teacher Scholarship: Available to minority students (defined as black and Hispanic individuals) who intend to teach in Indiana.
Identify financial resources for college by conducting a free college scholarship search at scholarships.com. To get started, you will need to complete an online profile that identifies information about you (academic, artistic, athletic, etc.). Doing so will allow the site to locate online scholarships for which you may qualify.
Applicants must search online at fastweb.com.
Sallie Mae offers one of the largest scholarship search engines available-3 million scholarships worth more than $16 billion.
The TFS is a massive scholarship database that provides you with access to $41 billion in funding and grows at a rate of 5,000 new awards per month. The best part is most of these opportunities come directly from colleges and universities - not just from competitive, national pools.

Scholarships for Physical Therapy Students

APTA Scholarships: The APTA offers multiple scholarships for members of the APTA and current DPT students. This award acknowledges and honors outstanding physical therapist and physical therapist assistant students who are nearing the completion of their respective programs of study.
ASAHP Scholarships: The ASAHP offers scholarships to outstanding students pursuing an allied health profession.
AMBUCS Scholarships: AMBUCS awards scholarships to graduate students enrolled in physical therapy programs, among others.
Daughters of the American Revolution Scholarships: The Daughters of the American Revolution offers scholarships to students of financial need enrolled in an accredited physical therapy program.
James B. McKillip Scholarship: The James B. McKillip scholarship was established to support individuals pursuing a career in physical therapy and continue the growth of the profession. This scholarship of $5,000 is offered twice a year to current PT students.
NSCA Scholarships: Multiple scholarships are offered through the NSCA for students pursuing undergraduate or graduate degrees in the strength and conditioning field. Physical therapy education does qualify.
Pat Tillman Foundation Scholarships: The Pat Tillman Foundation offers scholarship support for service members, veterans, and military spouses.
Veterans United Foundation Scholarship: The Veterans United Foundation Scholarship offers financial support for family of service members and veterans pursuing their education.
Department of Veterans Affairs: Information from the Dept.

Financial Aid for Education Majors

Hanover College provides specific financial support for education majors through programs like the Spicer Phillips Endowment. This fund assists with costs associated with urban student teaching assignments and reimburses Praxis exam expenses.

Reimbursement of Praxis Exam Costs: Candidates will pay for the exam and then apply for reimbursement via the form on My Hanover. Applicants must upload a PDF of their paid receipt from ETS and must also upload a PDF of their score report in the application. Passing scores are not required for reimbursement, but each exam may only be reimbursed one time.
Assistance with Urban Student Teaching: Assistance with the costs associated with an urban student teaching assignment at 64%. The applicant must complete the urban teaching section of the same Spicer Phillips grant application and upload apartment lease and other documentation.
Lauren Lester Grant: Established as part of the Montgomery scholarship in honor of their niece, Lauren Lester Edwards '20 and provides some assistance for extra expenses incurred by student teachers who live on campus during their student teaching assignment.

Additional Resources and Support

Hanover College is committed to providing resources and support to help students navigate the financial aid process.

Financial Aid Office: Contact the Financial Aid Office for personalized guidance and information on available aid options.
Online Resources: Explore the Hanover College website for detailed information on financial aid policies, application procedures, and scholarship opportunities.

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