Eligibility Requirements:
In order to be considered for a HEAR Scholarship, all applicants must possess all of the following as a pre-requisite:
– An unweighted GPA of at or above 3.0;
– Demonstrated financial need;
– Excellent character, impeccable work ethic, and a demonstrated commitment to service;
– Reside and attend high school in the Chicagoland area (in Illinois);
– Must be a U.S. citizen, or due to become one before the start of college;
– Submission of ACT / SAT are optional, but if you have taken these exams, you are strongly encouraged to submit your scores. As a rule, ACT scores of at or above 22 OR SAT scores of at or above 1110 are required.
– Only applicants who are planning to attend a four-year course at an accredited institution of higher education will be considered.
Financial Considerations:
HEAR considers both a student’s SAI number and the total annual household income when determining financial eligibility. To help you understand these, please review the information below.
Student Aid Index
The Student Aid Index (SAI) is a number calculated from information provided on the Free Application for Federal Student Aid (FAFSA). It replaces the former Expected Family Contribution (EFC) and is used by colleges to determine a student’s eligibility for financial aid. The SAI reflects a family’s financial strength and provides a benchmark for colleges to determine the amount of need-based aid a student can receive. Here’s how it works:
- Calculation: The SAI is based on the family’s income, assets, household size, and number of family members attending college
- Purpose: Colleges subtract the SAI from their Cost of Attendance (COA) (which includes tuition, fees, housing, and other expenses) to calculate a student’s financial need. This helps colleges tailor a financial aid package that may include grants, work-study, loans, and other aid
- SAI Range: Unlike the EFC, the SAI can be as low as -$1,500, allowing schools to offer additional aid to students with the greatest financial need.
This new system is designed to make financial aid calculations more transparent and accessible for families. As a benchmark, the SAI range for eligibility is $-1,500-$5,000. However, extenuating circumstances will may also be taken into consideration.
Total annual household income
This is the combined income of all family members who contribute to or rely on the household finances over a year. This includes all sources of income for anyone who is part of the household, such as:
- Salaries or wages from jobs
- Self-employment income
- Social Security benefits
- Child support or alimony payments
- Unemployment benefits
- Rental income from property
- Investment income (like interest or dividends)
For the application, students should calculate their total annual household income based on everyone living in the household, typically parents or guardians and anyone else contributing financially, to provide a complete picture of the household’s financial situation. As a guide, applicants whose household income is at or below $15,000 per family member per year will be eligible to apply.