Financial Aid

Office of Financial Aid Mission Statement

Our mission in the financial aid office is to assist you and your family in meeting the cost of an accredited education, and to make it possible for every qualified applicant to enroll at our school. This goal is met through the awarding of grant and job aid when available, and low-interest student loans, and by providing you and your family with appropriate counseling with respect to college costs and the application for and awarding of financial aid.

How to Apply

To apply for financial aid, you must complete the Free Application for Federal Student Aid (FAFSA). Completion of the FAFSA is required for consideration of federal, state and ANY IOHS College financial aid. The quickest and easiest way to apply is online at To fully utilize the online application, you (and your parent if applicable) should obtain a PIN from the U.S. Department of Education so that you may electronically sign your application. Otherwise, you will need to print, sign and mail a signature page at the end of the FAFSA on the Web process, and this will significantly increase the amount of time required to process your application. You may obtain a PIN at

Many high schools and public libraries have Internet access, as well. You may also contact the Financial Aid Office at (410) 821-9620, for assistance.

You must provide the school’s federal school code of 042096 when you complete the FAFSA. Remember to read all instructions and answer questions accurately. Please respond in a timely manner to requests for information by the financial aid office. You may be required to submit a signed copy of your federal tax return and other information.

We recommend you begin the admissions process and complete the FAFSA prior to your interview with an admissions representative, This will allow the academic advisor to discuss the financial opportunities and explain, in detail, the programs you qualify for.

Let’s review the steps to complete the financial aid application.

STEP 1: Apply for a Federal Student Aid PIN at

STEP 2: Complete the FAFSA application at using the Institute of Health Science School code: 042096 . Once complete, you will receive an Expected Family Contribution (EFC) report from the US Department of Education.

STEP 3: Institute of Health Sciences will also receive and review an official Student Aid Report (SAR) from the Department of Education that includes your Expected Financial Contribution (EFC). Your IOHS advisor will discuss with you to review this report with you, explain your options, and finalize a financial plan.

For more detailed information on the Federal Financial Aid Process, please contact a IOHS Financial Aid Officer by calling 1-410-821-9620.

Privacy and Confidentiality

Institute of Health Sciences keeps all of your personal, financial and identifying information strictly confidential. To this end, we ask for a personal identifier such as your social security number whenever you contact us for information. This is done not merely for our convenience, but as a protective measure to safeguard your information. Furthermore, federal FERPA laws govern and restrict the information we can give to others (parents, for instance).


Priority Deadline is April 1. You must meet this deadline to receive maximum consideration for all types of financial aid. Applications received after this deadline will be considered for financial aid on a funds available basis. This is a priority deadline, not an absolute deadline. You may complete the FAFSA after the priority deadline, but you will be considered for financial aid on a funds available basis. All students are strongly encouraged to complete the FAFSA by the priority deadline.

Types of Aid

  • Grant Aid
  • Federal Pell Grant

For exceptionally needy students who have not earned a bachelor’s degree, this grant is funded by the U.S. Department of Education. The amount of the grant is determined by federal government regulations. Maximum Pell Grant for 2017/2018 is $5,550.

Federal Supplemental Educational Opportunity Grant (FSEOG)

A companion grant to the Federal Pell Grant, this is also for exceptionally needy students who have not earned a bachelor’s degree. Students must be at least half-time (six credits). Limited funding.


Federal Stafford Loan – Subsidized and Unsubsidized

This is a low-interest government loan program. The Stafford loan is the basic undergraduate loan in the United States. The money comes from the federal government, and there is no credit check. The interest rate changes once per year, on July 1, and it will never be higher than 8.25 percent. There are lifetime Stafford loan limits. For Independent students, the lifetime limit is $57,500 with no more than $23,000 in subsidized loans. For Dependent students, the lifetime limit is $31,000 with no more than $23,000 in subsidized. Repayment of your loans starts six months after you cease to be a half-time student (this is called a 6 month Grace Period). Generally, you will have ten years to repay your Stafford loans, there are various payment plans available that may allow a borrower to increase the ten year period, You may also pay them off more quickly with no prepayment penalty, and you will save money in interest charges.

Subsidized means the government pays the interest while you’re a half-time student and you must qualify for a subsidized loan by having need. For the 2017/2018 award year the interest rate will be a fixed 4.5 percent. By regulation, the annual amount you may receive for IOHS articulation degree programs is $3,500 as a first year student, $4,500 as a second year student, or $5,500 as a third year student or higher.

Unsubsidized means you are responsible for the interest. You may pay the interest while you are student or you may capitalize the interest and pay it when you enter repayment on your loans. The 2017/2018 fixed interest rate is 6.8 percent. You do not have to have financial need to qualify for an unsubsidized loan. Independent students may borrow annually $6,000 in unsubsidized loan as first and second year students. Combined with the subsidized amount, this is $9,500 in Stafford loans per year for first year students, $10,500 in Stafford loans per year for second year students. Third years students and beyond can borrow up to $7,000 per year for a combined total of $12,500 in Stafford loans per year. Dependent students may borrow annually $2,000 in unsubsidized loan. This means that first year dependant students can borrow up to a total of $5,500, second year students can borrow up to a total of $6,500 and third year or higher students can borrow up to a total of $7,500 in Stafford loans a year Also, dependent students whose parent cannot obtain a Federal Parent PLUS loan may borrow up to and additional $4,000.

Federal Parent PLUS Loan

This is a low-interest unsubsidized federal loan for the parent of a dependent student. For the 2017/2018 year the interest rate is a fixed 7.9 percent. There lender may keep up to a 4 percent fee that will be deducted from the loan proceeds. There is a credit check on the borrower. The funds come from the federal government. If a dependent student’s parent cannot obtain a Parent PLUS loan, then the dependent student may borrow up to $4,000 in unsubsidized Stafford loan. This is an excellent educational financing option for dependent students.

Federal Perkins Loan

This is a fixed rate (5 percent) federal loan that gets repaid after a nine month grace period. The monthly payment will be at least $40 per month, perhaps more depending on amount borrowed. It is awarded to students who are exceptionally needy, and you must be receiving the maximum Stafford loan available to you in order to also receive a Perkins loan. If you decline or cancel your Stafford loan, then your Perkins loan will be cancelled. Limited funding.

Alternative Loan

This is known as a private loan. Students apply directly to financial institutions and must be credit worthy or have a credit worthy co-signer. Private loans are often used by students who need assistance in addition to the Federal Stafford Loan, who need money for living expenses, or who don’t have access to the Federal Stafford Loan.

Job Aid

Federal Work-Study

This is a federal program that provides funding for part-time jobs on campus. Students must be enrolled at least half-time and have financial need. Students typically work up to 20 hours per week and get paid directly biweekly. The Financial Aid Office has a list of available openings.

Scholarships are available throughout your college education. The federal guide to financial aid is a source, not only for loans, but for researching scholarship information. The Internet can be a source for locating additional scholarship money. The sites identified below will bring you to online tools that may help you find additional sources of revenue for your college expenses.

Other Financial Aids

The federal guide to financial aid is a source, not only for loans, but for researching scholarship information. The Internet can be a source for locating additional scholarship money. The sites identified below will bring you to online tools that may help you find additional sources of revenue for your college expenses.

  • You can access the federal guide on the Federal Student Aid website.
  • The College Board created an online tool to help you locate scholarships. This tool can also be accessed on the Federal Student Aid website.