Philosophy, Principles, And Practice Of Financial Aid
Riverside College of Health Careers believes that the talents, hopes, and ambitions of our students are among the most valuable resources this nation possesses. The fundamental purpose of the financial aid program at Riverside College of Health Careers is to make it possible for students to attend who would normally be deprived of a postsecondary education due to inadequate funds. Though every effort has been made to provide accurate and up-to-date information, the programs and filing requirements may change as laws, regulations, policies, or amounts of funding change.

What Is Financial Aid?
To assist students with college expenses, financial aid is available in the form of grants, loans, and scholarships. Grants and scholarships generally do not have to be repaid as long as the student completes the program. Federal loans are usually need-based with low interest rates. Scholarships are also based on need. Federal loans must be repaid after the student leaves the program; the current grace period is six months. To receive most federal aid, a student must demonstrate a need for financial assistance. Demonstrated need is the difference between the cost of attendance and the amount the family is expected to contribute. This amount is determined based on information provided to the Department of Education on the Free Application for Federal Student Aid (FAFSA).

Who Is Eligible To Apply For Financial Aid?
To be eligible for financial assistance a student must:
1) be accepted for admission to Riverside College of Health Careers;
2) be enrolled in good standing and maintain satisfactory academic progress;
3) be a United States citizen or permanent resident of the United States or its trust territories;
4) not be in default on any loans;
5) not owe a refund on financial aid received at Riverside College of Health Careers;
6) be registered with Selective Services, if male and at least 18 years of age (born after January 1, 1960);
7) meet all criteria specified by the program.

How Do I Apply For Financial Aid?
Anyone with specific questions may contact Student Financial Services at 757-240-2232.

To apply for financial aid at Riverside College of Health Careers:
Complete the FAFSA, which can be completed online: FAFSA online (Federal School Code 014108)

  • When a student's Student Aid Report (SAR) is selected for verification, the student must provide the Financial Aid Administrator with a federal tax return transcript and/or parents' tax return transcript and complete a verification worksheet, so that the data can be verified.
  • Review your SAR and make any necessary corrections prior to contacting the Financial Aid Office for an appointment.

Scholarship Consideration:
Complete an Application for Scholarship Consideration by the announced deadline date.

  • Need-based scholarships require the student to demonstrate a financial need. Aid Administrators determine student's financial need after evaluating the processed SAR. The Expected Family Contribution (EFC) is used in the determination of financial need.
  • Scholarships are awarded in the fall (October) and spring (March) of each award year. Students must have a valid SAR and Scholarship Application on file to be considered for the various donor scholarships. Scholarship applications will be posted and requested at various times during the year.

Financial Aid and Scholarships

Federal Pell Grant Program
Pell Grant awards are based on the Expected Family Contribution (EFC) on the student's SAR, the academic year structure, and the student's cost of attendance. Scheduled Award amounts are specified on the Pell Payment Schedules released by the Department of Education to schools. The Scheduled Award is the maximum amount the student can receive during the award year, if he or she attends full-time for a full academic year. It is one of the first sources of aid to help defray the cost of an undergraduate education. A Pell award is an entitlement, which means an eligible student does not need to repay the grant. The EFC is used in determining the students' financial aid eligibility and other types of aid.

Veterans Benefits
Veterans, active service members, spouses and dependents may use Veteran's Affairs benefits and/or Tuition Assistance. The veteran initiates the application and supplies the college with any required documentation before the school completes the enrollment certification and forwards documents to the Department of Veteran's Affairs or Department of Defense.

Federal Direct Loan Program
Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education rather than a bank or other financial institution. Student Loans are offered under the William D. Ford Direct Loan (DL) Program. The two types of loans are Subsidized and Unsubsidized. A Subsidized Loan is based on need. The government pays the interest on the loan while the student is in college at least half-time. An Unsubsidized Loan is not based on need, which means the student is responsible for the interest that accrues on the loan. The college certifies loans and sets the disbursement dates. The annual combined loan limits for Dependent students: Freshman, $3,500; Sophomore, $4,500; and Senior, $5,500 Subsidized Loan with an additional $2,000 Unsubsidized Loan limit. The Annual Loan Limits for Independent students: Freshman, $3,500; Sophomore, $4,500, and Senior, $5,500 Subsidized Loan with an additional $6,000 for Freshman and Sophomore, and $7,000 for Seniors in Unsubsidized Loans. Loan interest rates vary and are specified on a disclosure statement when a loan is disbursed. Students have a 6-month grace period before entering into repayment. During periods of deferment, interest continues to accrue and in certain circumstances subsidized loans.

Note: Legislative changes affect loan amounts, interest rates, and other terms. Check with Student Financial Services for more information regarding federal student loans.

Federal Direct Plus Loan Program
Parent Loans for Undergraduate Students (PLUS) are Unsubsidized Loans for parents of dependent students to help pay for education expenses up to the cost of attendance minus all other financial assistance. It is a non-need based source of federal aid. PLUS may be used in conjunction with the student's Direct Loans. Direct PLUS Loans (DPL) interest rates vary from year to year. In addition to the interest rate charge, there is an origination fee that is a percentage of the principal amount of each DPL. There is no grace period for DPL. The repayment period for each DPL begins 60 days after the college makes the last disbursement of the loan. However, a parent PLUS borrower who is also a student can defer repayment while enrolled in college at least half time. The college will disburse the loan money by crediting it to the student's account to pay tuition, fees, and other authorized charges. If the loan disbursement amount exceeds the student's college charges, the college will pay the remaining balance of the disbursement directly by check to the parent.

To apply for a PLUS Loan: A credit check must be completed and first time borrowers must submit a DPL Master Promissory Note (MPN) by going to the Federal Student Aid website. Use the Federal Student Aid username and password to complete the DPL MPN. If you do not have a username and password, you must request one.

Lettie Pate Whitehead Foundation Grant - (Professional Nursing Only)
The Lettie Pate Whitehead Foundation is a charitable private foundation dedicated to the support of female students in financial need in nine southeastern states. The grant provides numerous scholarships for the Professional Nursing Program. Award determination is based on religious affiliation, gender, need, and GPA.

Application Process: Upon notification, students with a current year's FAFSA can apply by submitting the Application for Scholarship Consideration. Scholarships are awarded twice during an award year.

Nurse in the Hat Endowment Scholarship Fund - (Professional Nursing Only)
Scholarships are awarded to nursing students. Recipients from the previous year are considered for renewal their final year. Donations are accepted to continue this perpetual fund. Donation Opportunity: Mail donations to: Riverside College of Health Careers, 316 Main St., Newport News, VA 23601.

Application Process: Open to level three and four students only. Students must write a 100-word essay and submit application by announced deadline. Scholarship is announced each March. The recipient must have a financial need and a GPA of 3.0 or better.

Ruby Pope Drumm Endowment Scholarship Fund - (Professional Nursing Only)
Scholarships are awarded to students accepted into the Professional Nursing Program or currently enrolled in the Professional Nursing Program. Donation Opportunity: Mail donations to: Riverside College of Health Careers, 316 Main St., Newport News, VA 23601.

Application Process: Upon notification, students can apply by submitting the application and essay by the posted deadline. Recipient must have a cumulative GPA of 2.75 in prerequisite courses or have a cumulative GPA of 3.0 in completed coursework. The recipient must have a financial need verified by the College's Financial Aid Coordinator.

Mary Marshall Nursing Scholarship - (Professional Nursing and Practical Nursing Only)
The State of Virginia funds the scholarship with the awards being made by an advisory committee appointed by the State Board of Health. Recipients must agree to engage in one-month full-time nursing practice in Virginia for every $100 of scholarship received. If the recipient fails to complete the program or engage in full-time nursing practice in Virginia, the full amount of money represented in the scholarship received, plus an annual interest charge, must be repaid in full to the program.

Application Process: Application must be postmarked no later than June 30 for the academic year beginning in the fall of that calendar year. Applications and/or transcripts postmarked after June 30 will not be considered for scholarship awards. Applications are accepted in The Office of Health Policy and Planning after April 30.

Donor Scholarships - (Professional Nursing Only)
Scholarships are awarded on behalf of organizations that make donations. Donors or family members may present scholarships to students at scheduled scholarship events. The recipient must have a financial need and meet GPA requirements. Private donors include: Forty & Eight Voiture Locale #976, Spirit of Nursing, Crystal Hudgins Waller, York County Volunteer Association, and Clarise and Marvin Zukerman.

Applicants who are in need of financial assistance are encouraged to investigate other sources of information:

Riverside Health System Sources:

Student Guides: