Financial Aid Programs
Grant Programs
Federal Pell Grant Program
Available to undergraduate students without a bachelor's degree enrolled for six or more credits who demonstrate need.
Amounts vary from $555 - $5,550 for the 2011-2012 academic year
Presidential Scholarships
Available to incoming full-time, academically-talented undergraduate students. Selected by Admissions Office on the basis of G.P.A. and/or Standardized Test Scores. Renewable based on continued full-time enrollment with cumulative G.P.A of 3.0 or better.
Amounts vary from $2,000 to $3,000 a year.
Federal Supplemental Educational Opportunity Grant
Available to undergraduate students without a bachelor's degree enrolled for nine or more credits who demonstrate exceptional need.
Amounts vary from $200 - $1,800 a year.
Tuition Waiver/Mass Cash Grant
State grant or waiver available to undergraduate residents of Massachusetts without a bachelor's degree enrolled for six or more credits who demonstrate need. All or part of your tuition & fee charges may be waived or paid.
Massachusetts Grant Program (MASSGrant)
A State grant for a maximum of eight semesters. Available to Massachusetts residents who do not have an undergraduate degree. Full-time enrollment required. FAFSA filing deadline is May 1st.
Massachusetts College of Liberal Arts Grant
Available for undergraduates enrolled for six or more credits who demonstrate need.
Amounts vary from $200 - $4,500 a year
Part-Time Grants
Available to part-time undergraduate residents of Massachusetts without a bachelor's degree enrolled for 6-11 credits who demonstrate need.
Awards vary from $200 - $500 a year
Paul E. Tsongas Scholarship
Available to full-time Massachusetts residents in the top ten percent of their high school graduating class (or who have a recalculated G.P.A. of 3.75 or better) and SAT I totals of 1200. Renewable based on continued enrollment with a cumulative G.P.A. of 3.3 or better. Scholarships are awarded at the time of admissions.
Tuition & Fees
Student Employment Programs
Federal College Work Study
Part-time jobs for students enrolled for nine or more credits who demonstrate need. Bi-weekly paycheck received for hours worked. Wage begins at $8.00 per hour. All earnings are paid at straight time. Apply using the standard application procedures. Award cannot be applied to the semester invoice.
Awards vary from $1,000 - $2,000 a year
Campus Part-Time Employment
On-campus jobs funded by Massachusetts College of Liberal Arts that are not based on financial aid eligibility. Apply at Career Services.
Job Location and Referral Service
Alternative employment options in the community. Apply at Career Services.
Loan Programs
Federal Perkins Loan Program
Long-term, low-interest (5%) loan. Available to undergraduate and graduate students enrolled for six or more credits who demonstrate need. Apply using the standard application procedures. Repayment begins nine months after graduation or withdrawal.
Amounts from $200 to $3,000.
Federal Direct Subsidized Student Loan
Long-term, low interest. Fixed interest of 6.8% for the 2012-2013 academic year. Available to undergraduate and graduate students enrolled for six or more credits who demonstrate need. Repayment for students begins six months after graduation or withdrawal. Loan fees of .5% will be deducted from all loan proceeds.
Loan Maximums - based on grade level
$3,500 1st year ( 1-29 credits earned)
$4,500 2nd year (30-59 credits earned)
$5,500 3rd-5th year (60 and above - credits earned)
Up to $8,500 per year for graduate student.
Federal Direct Unsubsidized Student Loan
Long-term, low interest. Fixed interest of 6.8% for the 2012-2013 academic year. Available to undergraduate and graduate students enrolled for six or more credits. Do not have to demonstrate financial need to qualify, however, you must apply using the financial aid application process. Interest payment charged to student while enrolled. Repayment begins six months after graduation or withdrawal. Loan fees of .5% will be deducted from all loan proceeds.
Same as subsidized
Up to $12,000 per year for graduate students.
Beginning with the 2008-2009 academic year, students borrowing a Subsidized or Unsubsidized Stafford Student Loan are now eligible to borrow an additional $2,000 under the Unsubsidized Stafford Loan Program. For more information, please contact the Financial Aid Office.
Average Student Loan Debt May 2011 Graduates - $20,932
Average Monthly Payment - $242.10
(Based on a 10 year repayment period and interest of 6.8%)
Federal Direct Parent Plus Loan Program
Available to parents of dependent students. Fixed interest rate of 7.9% for the 2012-2013 academic year. Repayment begins 60 days after the final loan disbursement. Loan fees of 2.5% will be deducted from all loan proceeds.
Parents may borrow up to the full cost of attendance less merit and need-based aid. To apply for a Direct Parent Plus Loan please click on the following website - https://www.studentloans.gov
Massachusetts No Interest Loan Program
State No Interest Loan awarded to eligible Massachusetts residents
who are enrolled in 12 or more credits. Repayment begins six months
after graduation or withdrawal.
Amounts from $1,000 - $2,000
Completing your Master Promissory Note (MPN) & Entrance Counseling
Students who borrow under the Direct Loan Program are required to complete a Master Promissory Note (MPN) and entrance counseling before receiving loan proceeds from their first loan.
To complete your MPN and entrance counseling for the 2011-2012 academic year, please click on the following website and the follow the directions which were mailed to you from our office.
If you have any questions concerning this process, please feel free to contact the Financial Aid Office at 413-662-5219.
