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Financial Aid & Scholarships

Both financial aid and private scholarships can help your family cover the cost of college

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Types of Financial Aid

Financial aid comes in three main forms: grants & scholarships, federal work-study, and federal student loans

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Grants & Scholarships

Grants and scholarships are considered “gift aid” or free money, because they do not have to be repaid.

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Federal Work-Study

Federal work-study allows students to work part time on or near campus while in college.

Learn More
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Federal Student Loans

Federal student loans are sums of money that help students pay for school and must be repaid.

Learn More

Financial Aid Applications

It’s important to research the financial aid application requirements and deadlines for every school on your list. Check each college’s financial aid webpage for details.

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FAFSA

The Free Application for Federal Student Aid (FAFSA) is required by every college in the country. Schools use it to determine eligibility for federal, state, and institutional financial aid

File the FAFSA
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CSS Profile

The CSS Profile is required, in addition to the FAFSA, by roughly 200 colleges and universities, and is used to determine the distribution of a school’s own financial aid funds

File the CSS Profile

How is Financial Aid Awarded?

Colleges determine your financial aid offer based on your Student Aid Index (SAI) and the college’s strategic goals.

Massachusetts State Financial Aid

If you’re an MA resident, you may qualify for one or more types of state financial aid, including grants, scholarships, and tuition waivers.

MASSGrant & MASSGrant Plus
Christian A. Herter Memorial Scholarship
Gilbert Grant
Massachusetts No Interest Loan
Need-Based Tuition Waiver
MassReconnect
Foster Child Grant
John and Abigail Adams Scholarship

Terms To Know

A number calculated from a student’s FAFSA data that is intended to represent the family’s financial strength and is used to calculate eligibility for need-based financial aid. Learn more

Includes all billed (tuition, fees, meal plan, campus housing, etc.) and non-billed (books, supplies, etc.) expenses for attending college for one year. Learn more

Includes a listing of all information submited on the FAFSA and an estimated SAI; emailed to students within 1-3 days of FAFSA submission. Learn more

A username and password that allows an individual to log in to federal financial aid websites; both the student and one parent will need one to submit the FAFSA. Learn more

A resource provided by the Department of Education and IRS that allows the FAFSA to pull tax return data electronically into the FAFSA from the IRS website after a FAFSA contributor provides consent.

A federal loan, which is credit-based, that parents can apply for to cover educational expenses for their children. Learn more

IDOC is an acronym for the Institutional Documentation Service. It’s used by colleges and universities that require the CSS Profile to collect financial forms, including tax returns, W-2s, and 1099s, from families applying for financial aid.
Learn more

After You Apply

Once you submit your financial aid applications, the colleges may request additional documentation or information, and will then create your financial aid offer

Get a Financial Aid Overview

When applying for financial aid, get to know the applications, the types of aid awarded, and how colleges determine financial aid offers.

Financial Aid 101

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Appealing Financial Aid Offers

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Understand Financial Aid Appeals

If you don’t receive enough financial aid to attend your top choice college, you can appeal for additional funds

Learn about Private Scholarships

Separate from the financial aid process, private scholarships are offered by companies, associations, non-profits, and others to help students pay for college

Applying for Private College Scholarships

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Financial Aid FAQs

Financial aid eligibility is based primarily on citizenship, academic status, and family finances, and can differ among federal, institutional, and state aid programs. Learn more.

Financial aid is funded by the federal government (Pell Grant, work-study, and Direct Student Loans are some examples), state governments, and colleges and universities.

To complete your financial aid applications you’ll need the full legal name, SSN, and date of birth for the student and any parent on the applications, as well as recent income and current asset information for all parties. Learn more.

Federally independent students are those that meet certain criteria (see this checklist) such as having dependents, being married, or pursuing a graduate degree. Colleges can also classify a student as independent due to extraordinary circumstances (such as abandonment by the parents). Independent students do not need to report parent financial information on the FAFSA, which may increase a student’s eligibility for financial aid. However, a greater eligibility for financial aid does not guarantee an increase in the amount of financial aid offered, so independent students do not necessarily have an advantage in the financial aid process. Their own financial information is also evaluated differently than that of dependent students. Learn more about independent students

International students are not eligible for federal or state financial aid. Some colleges do provide institutional aid (their own funds) to international students, but that differs from school to school. And though most U.S. private scholarship organizations are only open to U.S. citizens or permanent residents, some do award prizes to international students. Learn more

Yes, the financial aid deadline at schools is usually before students are notified of their acceptance, so you should send your FAFSA and anything else required to every school where the student has applied. Do not wait until the student receives an offer of acceptance, as often, financial aid has run out by that time. If you submit your FAFSA to a school that ultimately does not accept the student, the school will simply delete the FAFSA information received.