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. $652 - $6,095 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. $600 - $1,300 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.
Part-Time Grants: Available to part-time undergraduate residents of Massachusetts enrolled for 6-11 credits who demonstrate need. $200 - $600 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.
Federal College Work Study: Part-time jobs for students enrolled for nine or more credits who demonstrate need. A bi-weekly paycheck is received for hours worked. Wage begins at $11/hour and all earnings are paid at 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.
Job Location and Referral Service: Alternative employment options in the community that are not based on financial aid eligibility.
Federal Direct Subsidized Student Loan: Long-term, low interest loan. Fixed interest of 5.05% for the 2018-2019 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 1.062% (before October 1, 2019) 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 $20,500 per year for graduate students
Federal Direct Unsubsidized Student Loan: Long-term, low interest loan. Fixed interest of 5.05% for the 2018-2019 academic year for undergraduate loans. Fixed interest of 6.6% for the 2018-2019 graduate loans. Undergraduate and graduate students must be 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 1.062% (before October 1, 2019) will be deducted from all loan proceeds. Loan maximums same as subsidized, above.
Based on a 10-year repayment period, the average 2018 debt and monthly payment for federal loans are:
Average Federal Student Loan debt, May 2018 graduates - $27,833
Average estimated monthly payment - $323.54
Federal Direct Parent Plus Loan Program: Available to parents of dependent students. Fixed interest rate of 7.6% for the 2018-2019 academic year. Repayment begins 60 days after the final loan disbursement. Loan fees of 4.248% are deducted from all loans processed before October 1, 2019. Parents may borrow up to the full cost of attendance less merit and need-based aid. Direct Parent Plus Loan info.
For more information concerning applying for, managing and paying back Federal college loans, please visit STUDENT LOANS THE RIGHT WAY.
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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.
If you are a first time Federal Direct Student Loan Borrower at MCLA, 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.