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Financial Aid Programs

Federal Pell Grant

Need-Based Federal Grant

Federal Pell Grant: A need-based grant program from the federal government for undergraduate students with significant financial need. In order to be eligible for a Pell Grant, a student must have a valid Expected Family Contribution that falls within a range that is set by Congress annually. Students must also meet all of the general Title IV student eligibility requirements, and not have a prior bachelor’s degree.

Change in Enrollment: The Federal Pell Grant is subject to change based on your enrollment. A student will initially receive an aid package that is based on anticipated enrollment. However, if changes are made to your enrollment status it is possible your award will be adjusted. Please remember this includes course drops and withdrawals, that will result in reduction of financial aid funds.

We strongly encourage you to contact the Financial Aid Office PRIOR to making any changes to your enrollment so we can counsel you on the impact. This will help you make an informed decision about your enrollment change. Once we have adjusted your financial aid award, a revised award letter will be sent to you in the weeks following your enrollment change.

Federal Supplemental Educational Grant (FSEOG)

Need-Based Federal Grant

A need-based grant from the federal government for undergraduate students with significant financial need. FSEOG is awarded on a funds available basis. Priority is given to students who are recipients of the Federal Pell Grant.

Federal Work-Study

Need-Based Self-Help Fund

Federal Work-Study (FWS) is a need-based, federally funded program that provides part-time jobs to students. Jobs are available both on and off campus. FWS funds are awarded on a funds available basis. Eligibility is determined from the information provided on the FAFSA. To see if you qualify to receive FWS, please contact the Financial Aid Office. Once students are eligible they search our job postings and apply for open positions directly with the hiring supervisor. A listing of jobs is available on the MassBay website.

If you are awarded FWS, the amount awarded on the financial aid award notification reflects the maximum amount you may earn during the academic year. FWS employees will receive a paycheck every two weeks based on the actual number of hours worked, FWS funds are not credited to a student’s account.

Students who participate in the Federal Work-Study program must first visit the Financial Aid office to complete the work study paperwork packet which includes the I-9, W-4, M-4, Statement of Confidentiality, Employer Authorization Form, and Direct Deposit Form (if so desired). Students must also meet with the Work-Study Coordinator to verify all required documents are complete and to review MassBay policies regarding employment. Students may work a maximum of 18 hours per week during the semester; however, the Financial Aid Office may approve additional hours on a per student basis. Students cannot work during scheduled class times. Please note: If a student works during scheduled class times, they will not be paid for their time worked.

Federal Subsidized Stafford Loan

Need-Based Federal Loan

Direct Subsidized Loans are need-based and do not accrue interest while a student is enrolled at least half-time. Students may receive subsidized loans only within 150% of the average length of your program of study. Once you have reached the end of this limit you are no longer able to receive Direct Subsidized Loans. For example; if you are enrolled in a two-year associates degree program, the maximum period for which you can receive Subsidized Loans is three years (2 x 150% = 3 years).

In essence, students will no longer be able to receive Direct Subsidized Loans for more than 150% of the length of your program. Once you reach the length of your program, you may continue to receive Direct Unsubsidized Loans; however interest will start accruing on the outstanding Subsidized Loans. To review your remaining subsidized loan eligibility students should visit the National Student Loan Data System (NSLDS) at https://nslds.ed.gov/nslds/nslds_SA (you will need your FSA ID and password to login).

Federal Unsubsidized Stafford Loan

Not a Need-Based Federal Loan

Direct Unsubsidized Loans are not need-based. Interest accrues on the loans while a student is enrolled. Accumulated interest may be paid on a quarterly basis while enrolled. However, students may choose to defer the interest and pay it with the principal amount upon graduation or when enrollment drops below the minimum half-time status (6 credits).

First time loan borrowers at MassBay must complete Loan Entrance Counseling and a Master Promissory Note (MPN). These documents must be completed to formally accept Loan funds and allow for disbursement of funds to a student account. Loans will not be applied as anticipated aid or disburse to your student account until both documents have been completed. If you would like to accept, reduce or decline your loans please check your MassBay email account for detailed instructions. .You will need to log into Bay Navigator to Accept, Reduce or Decline your student loan.

Federal PLUS Loan

Not a Need-Based Federal Loan

Parents of dependent, undergraduate students may borrow up to the cost of attendance less any other financial aid. Interest rates and origination fees for this loan program can be found at the following U.S. Department of Education’s website.

Repayment of the loan can begin immediately and extend for up to 10 years or payment can be deferred while a student is enrolled at least half-time. During the deferment period interest can be paid monthly, quarterly, or capitalize quarterly. A federal origination fee is deducted from the loan proceeds before it disburses to the students account.

Eligibility is based on the borrower’s creditworthiness. If parents are denied the Federal PLUS Loan, the student becomes eligible for additional Unsubsidized Federal Loans. The PLUS Loan application and the accompanying PLUS loan Master Promissory Note is available online at https://studentloans.gov/myDirectLoan/index.action.

Massachusetts State Grant

Need-Based Grant

A need-based grant awarded to full-time students, (enrolled in 12 credits or more each semester) who are Massachusetts residents for at least one year and who do not have a prior bachelor’s degree. Typically, students eligible for this grant are also eligible for the Federal Pell Grant. A FAFSA must be filed by the May 1 priority deadline to be considered for this grant. Students may only receive this award for a maximum of four semesters.

Massachusetts State Grant PLUS:

Need-Based Grant

A need-based grant awarded to full-time and part-time students attending Massachusetts public community colleges. Students may be eligible for additional funding to help pay their tuition and fees charges only. For specific details on this program, please visit the Office of Student Financial Assistance website at : https://www.mass.edu/osfa/home/home.asp

Massachusetts Cash Grant

Need-Based State Grant

A grant awarded to Massachusetts residents who have resided in the state for at least one year. The Mass Cash Grant is awarded on a funds available basis and can only be applied towards tuition and mandatory fee charges.

Massachusetts Tuition Waiver

Need-Based State Tuition Waiver

A state funded, need-based program available to Massachusetts residents who have resided in Massachusetts for at least one year. Awards cannot exceed assessed state-supported day tuition charges.

Massachusetts Categorical Tuition Waivers

State Tuition Waiver

A tuition waiver designed to provide financial support to individuals who might not have the opportunity to achieve higher education without such assistance.  Eligible categories are available at the following website : https://www.mass.edu/osfa/home/home.asp

Massachusetts Part-Time Grant

Need-Based State Grant

A need-based grant awarded to part-time students (enrolled in 6 to 11 credits each semester) who are Massachusetts residents for at least one year and who do not have a prior bachelor’s degree. Typically, students eligible for this grant are also eligible for the Federal Pell Grant. The Massachusetts Part-Time Grant is awarded on a funds available basis.

Massachusetts Gear Up Grant

Need-Based State Grant

A grant awarded in conjunction with the federal and state government and is designed to assist socially disadvantaged students. Students must participate in the GEAR UP Massachusetts program while in high school in order to be eligible.

John and Abigail Adams Scholarship

State Scholarship

Recipients of the John and Abigail Adams Scholarship are eligible for a tuition waiver for state-supported day tuition charges. Students are required to maintain a G.P.A. of 3.0 for continued eligibility. There is no application process for this non-need based scholarship. Eligible students will be notified in the fall of their senior year in high school by the MA Office of Student Financial Assistance (OSFA) and must submit a copy of their eligibility letter to the Financial Aid Office. Students may only receive this award for a maximum of four semesters.

Early Childhood Educators Scholarship

State Scholarship

A scholarship designed to provide financial assistance for currently employed early childhood and out-of-school-time educators and providers who enroll in an associate degree program in Early Childhood Education or a related program. Students must complete an application with the Massachusetts Department of Higher Education in order to qualify. For additional information about Massachusetts state grant and scholarship programs, including eligibility requirements, visit the Massachusetts Office of Student Financial Assistance website at:https://www.mass.edu/osfa/home/home.asp