Financial Aid Programs
When you complete the FAFSA and MCLA financial aid forms, you automatically apply for most of these programs; exceptions are noted. Steps to apply for aid
Federal Pell Grant Program: Available to undergraduates enrolled for six or more credits who demonstrate need. $602 - $5,730 a year. Eligibility limited to a maximum of 12 semesters or 6 years.
Presidential Scholarships: Available to incoming full-time, academically-talented undergraduates. Selected by Admission Office on the basis of GPA and/or standardized test scores. Renewable based on continued full-time enrollment with cumulative GPA of 3.0 or better. $1,000 to $4,000 a year.
Federal Supplemental Educational Opportunity Grant: Available to undergraduates enrolled for nine or more credits who demonstrate exceptional need. $200 - $1,800 a year.
Tuition Waiver/Mass Cash Grant: State grant or waiver available to undergraduate residents of Massachusetts enrolled for six or more credits who demonstrate need. All or part of your tuition and fees 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. $300 - $1,100 a year.
Massachusetts College of Liberal Arts Grant: Available for undergraduates enrolled for six or more credits who demonstrate need. $200 - $4,500 a year.
MCLA Community Engagement Grant: An Institutional grant that promotes and fosters involvement in community service and College events. Recipients of this grant will be expected to engage in a minimum of five hours of community service and attend two College events each semester. Students will log their service using E-Portfolio.
Part-Time Grants: Available to part-time undergraduate residents of Massachusetts enrolled for 6-11 credits who demonstrate need. $200 - $500 a year.
Paul E. Tsongas Scholarship: Available to full-time Massachusetts residents in the top 10% of their high school graduating class (or who have a recalculated GPA of 3.75 or better) and SAT I totals of 1200. Renewable based on continued enrollment with a cumulative GPA of 3.3 or better. Awarded at the time of admission. Tuition and college fees.
Massachusetts High Demand Professions Scholarship: Available to Massachusetts residents who are enrolled in high demand disciplines at the bachelor's degree level. At MCLA, the majors that would qualify are: Biology, Chemistry, Physics, Mathematics, Computer Science, medical and clinical laboratory technology; Elementary and Secondary Education (except Special Education); and Business, specifically finance and accounting. Applications can be accessed through the Office of Student Financial Assistance's (OSFA) website.
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/hour and all earnings are paid straight time. Award cannot be applied to the semester invoice. $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 that are not based on financial aid eligibility. Apply at Career Services.
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. Repayment begins nine months after graduation or withdrawal. $200 to $3,000 a year.
Federal Direct Subsidized Student Loan: Long-term, low interest loan. Fixed interest of 4.66% for the 2014-2015 academic year. Available to undergraduate students enrolled for six or more credits who demonstrate need. Repayment begins six months after graduation or withdrawal. Loan fees of 1.073% will be deducted from all loan proceeds.
Maximums for Subsidized and Unsubsidized Loans (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 or more credits earned
Up to $8,500 per year for graduate students
Federal Direct Unsubsidized Student Loan: Long-term, low interest loan. Fixed interest of 4.66% for the 2014-2015 academic year. Available to undergraduate and graduate students enrolled for six or more credits. Not based on financial need; however, you must apply using the financial aid application process. Interest payment charged while enrolled. Repayment begins six months after graduation or withdrawal. Loan fees of 1.073% are deducted from all loan proceeds. Loan maximums same as subsidized, above.
Students borrowing a Subsidized or Unsubsidized Federal Student Loan are eligible to borrow an additional $2,000 under the Unsubsidized Student Loan Program. For more information, please contact the Financial Aid Office.
Based on a 10-year repayment period and interest of 4.66%, the average 2014 debt and monthly payment for federal loans are:
Average Federal Student Loan debt, May 2014 graduates - $24,980
Average estimated monthly payment - $260.82
Federal Direct Parent Plus Loan Program: Available to parents of dependent students. Fixed interest rate of 7.921 for the 2014-2015 academic year. Repayment begins 60 days after the final loan disbursement. Loan fees of 4.292% are deducted from all loan proceeds. Parents may borrow up to the full cost of attendance less merit and need-based aid. Direct Parent Plus Loan info
Massachusetts No Interest Loan Program: State No Interest Loan awarded to eligible Massachusetts undergraduate residents who are enrolled in 12 or more credits. Repayment begins six months after graduation or withdrawal. $1,000 - $2,000 a year.
Completing Your Master Promissory Note (MPN) & Entrance Counseling
If you borrow under the Direct Loan Program, you must complete a Master Promissory Note (MPN) and entrance counseling before receiving loan proceeds from your first loan. Complete counseling online
Contact the Financial Aid Office at 413.662.5219 or 800.969.6252.