Other Policies

Elmhurst University adheres to the following additional policies with respect to financial aid.

Financial Aid Limits

Elmhurst University financial aid cannot be refunded and cannot exceed tuition charges in combination with other tuition-restricted aid. Elmhurst aid designated for non-tuition costs will apply towards those respective charges. A student’s total financial aid (all sources) including Elmhurst University financial aid cannot exceed the calculated Cost of Attendance for the academic year. Elmhurst may be required to reduce or limit certain financial aid awards if students are near or at their maximum financial aid amount as it relates to their need or cost of attendance.

Part-Time Enrollment

Students who are enrolled between 6 and 11 credit hours per term will be charged per credit hour and therefore have lower tuition charges. Please note that students must be enrolled full-time in order to maintain eligibility for Elmhurst University scholarship and grants. Additionally, students who are enrolled less than full-time may have their federal aid prorated based on their rate of pursuit.

Summer

Students are not eligible for their Elmhurst University financial aid in the Summer Term. Some students attending at least half-time may have limited eligibility for federal grants or loans.

Study Abroad

Additional financial aid consideration may be offered to students taking international/study-abroad courses. A student’s enrollment in a program of study abroad approved for credit by Elmhurst University may be considered enrollment at Elmhurst University for the purpose of applying for assistance under federal student aid programs. For more information, please contact the Office of Global Engagement in the Weigand Center for Professional Excellence at (630) 617-3079.

Special Circumstances

The Office of Student Financial Services uses the FAFSA to determine eligibility for institutional, federal, and state financial aid. However, the FAFSA may not always provide an accurate representation of a family’s current financial situation. If your family’s financial situation has changed, Student Financial Services can review the circumstances and determine if eligibility can be re-evaluated.

Please visit the Special Circumstances page for further details on this process.

Taxes and Financial Aid

In accordance with the Tax Reform Act of 1986, scholarships and grants received during a specific calendar year that exceed qualified educational expenses are considered taxable income. In these cases, taxes are not withheld from the scholarship or grant funding, so you may be responsible for paying the appropriate taxes upon filing your tax return.

We provide some preliminary information for you here to help you get started, but it is important for you to consult with your tax preparer and carefully review the information available on the IRS website (including IRS Publication 970). This helpful IRS publication provides definitions, exceptions, a worksheet, and other important considerations.

When calculating your tax liability, you may calculate any general scholarship or grant aid as first applying to qualified educational expenses (i.e., tuition, mandatory fees, and required books and supplies). Student loans and work-study are not subject to these tax requirements and should not be included in your calculation. Federal Work-Study awards are not subject to Social Security Tax (F.I.C.A.) withholding during periods of enrollment. Please note that tax laws are subject to change.

You should carefully review and maintain your records, including invoice and award information. If you no longer have copies of your award information for the calendar year you are researching, you can access your award information online via Self-Service.

Beyond your tax liabilities, there may be tax benefits you may want to consider as well. The Office of Student Financial Services does not offer income tax counseling of any kind. Questions on income tax liability, filing status, reporting income and tax treaties should be addressed to the United States Internal Revenue Service.