The deep-rooted policy of the College’s Financial Aid Scholarship Program has been to consider requests from parents who are experiencing financial difficulties. Further to College’s mission statement and decades old operation policy, the Program provides financial aid (tuition discount) based on the family’s financial situation/economic need rather than on the student’s academic performance. The student, nonetheless, must meet certain minimum academic standards and comport him/herself with appropriate behavior. Through this Program, the College assists hundreds of students each year.
Pursuant to the long-established principles of the College, the financial aid provided is traditionally looked upon as an “honor debt” that recipients are expected to settle whenever, and to whatever extent, their future financial status permits.
Applications for Financial Assistance for the tuition fees of the following academic year are submitted to the Scholarship Office within predetermined deadlines for each year.
Decisions on the granting of financial assistance are made by the Scholarship Committee, comprised of its President, the Directors of the Merit and Financial Assistance Programs, members of the Administration and Faculty Association of all HAEF school units.
Their decisions are valid for one academic year, therefore, students who wish to continue to receive assistance must resubmit an application every year.
Particulars submitted to the Scholarship Office together with the application form are used solely for the purpose of deciding on whether or not to grant financial aid and are kept in the strictest confidence. Applicants must give their irrevocable consent to allow the Scholarship Committee to retain all documents and information for a period of three years from the time they were submitted.
The Committee’s decision is irrevocable. A review of the application, following the Committee’s decision, is only possible in the event of a drastic change in the family’s financial or personal situation, which must be substantiated by submitting new documentation. Applicants must immediately notify the School of any significant change in financial status or property ownership, whether it be positive or negative. The Committee, in certain cases, may visit the applicant’s home or business further to prior consent.
Financial aid ranges from 25% to 85% of the tuition fees and is granted provided that candidates meet criteria relating to their character and overall school performance.
Criteria for the granting of Financial Aid include: family’s annual income and financial status from the previous three years, family assets and the manner in which they were obtained, as well as family circumstances (such as, divorce, unemployment, illness, other relevant information relating to the parents’ professional activity/activities, financial burdens/obligations, etc.).
The Scholarship Committee may in certain cases visit the applicant’s home or business further to prior consent.
The Scholarship Committee does not consider applications for financial assistance submitted by a parent in the event that he/she, or the other parent, or the student’s guardian or sponsor have any outstanding debts/obligations to HAEF. This includes: (a) submitting the Financial Aid application past the deadline; (b) making use of the HAEF discount for upfront payment of tuition fees and/or the discount for 3rd, 4th, etc. child; (c) not having reached an agreement with HAEF’s Financial Services regarding the settlement of overdue debts; (d) not complying with the terms of the settlement; (e) having agreed to pay tuition fees by underwriting them; and/or (f) having provided incomplete or inaccurate information on the application form.
Special Interest/Specification Scholarships
It is known that the College has established and gives particular emphasis on “Special Interests / Specifications” Scholarships, which combine the scholar’s financial need with academic performance and contribution to College life. These types of scholarships already exist at the College and include those in memory of M. Dertouzos, Ch. Vellis, Emm. Troullinos and G. Gondicas. They are funded through donations from members of the College, family, corporations and foundations.