Massasoit - Financial Aid Programs

Financial Aid Programs

Grants & Scholarships | Federal College Work Study | Student Loans | Tuition Payment
Veteran's Benefits | How to Apply | Eligibility

Financial Aid includes grants and scholarships, loans, and work study. Some aid does not need to be paid back, some aid must be repaid, and some aid takes the form of employment. Financial aid is available for both part-time (1-11 credits) and full-time (12+ credits) study, although some awards are restricted. All students must be in eligible degree or certificate programs to receive financial aid.

Types of Financial Aid
There are three basic types of financial aid available to students attending Massasoit Community College.

Grants and Scholarships are offers of aid which do not have to be repaid. These may include awards from the federal or state governments, Massasoit Community College, or outside agencies or groups. Examples of such grants are Pell Grant, SEOG, MassGrant, MA Foster Furcolo Access Grant, MA Part-Time Grant, Massasoit Fee Assistance Grant, the Massasoit United Student Fund.

Student employment or Federal College Work Study is a federally funded program that provides employment to students with financial need. Students may work an average of 10-12 hours per week during academic terms and up to 20 hours per week during the summer. Positions are available on both the Canton and Brockton campuses as well as at non-profit agencies in the local community. The current rate of pay is $8.00/hr on campus and $10/hr off-campus.

Loans are financial aid that must be repaid. In general, student loan repayment may be deferred until after you have completed your higher education. Parent loans generally go into repayment within 30-60 days of their disbursement.

Student Loans (top)

Federal Direct Subsidized Loans
Available to eligible student borrowers. They are need based and you must complete a FAFSA to determine eligibility. These loans have a fixed interest rate of 5.6% for the 2009-2010 aid year. Interest and principal are subsidized by the government until the student ceases to be enrolled at least half-time. Repayment begins 6 months after the student graduates, withdraws or stops attending school at least half-time.

Federal Direct Unsubsidized Loans
Available to eligible student borrowers. These loans are not need based; however, you must still complete a FAFSA. Interest accrues during in-school period. These loans have a fixed interest rate of 6.8% for the 2009-2010 aid year. Interest and principal may be deferred until the student ceases to be enrolled. Interest is NOT paid by the government. The borrower is responsible for all interest payments. Repayment begins 6 months after the student graduates, withdraws or stops attending school at least half-time.

Parent Loans (top)

Federal Parent Plus Loans
Available to parents or legal guardians of dependent undergraduate students. These loans have a fixed interest rate of 7.9% for the 2009-2010 aid year.

Tuition Waivers and Veterans Benefits

In addition to the above award programs, Massasoit also accepts and processes state tuition waivers, and a variety of veteran benefits.

How to Apply
Each new or returning Massasoit student applying for financial aid must file The Free Application for Federal Student Aid (FAFSA) by the priority deadline of April 15. This form is required to be considered for any federal, state, and most of Massasoit’s institutional aid. The FAFSA is available online at www.fafsa.ed.gov. (See Financial Aid Links) Returning students must re-apply each year.

Who is Eligible? (top)
First, students must be accepted into a degree program. Financial aid is awarded on the basis of financial need, as reflected on the FAFSA. To be considered for any federal funds, whether awarded through the College or by an outside agency, a student must be a citizen or permanent resident of the United States. Males born after December 31, 1959 must be registered with the Selective Service System. A student cannot be in default of any loan(s) and cannot owe any refunds for Title IV funds.

How is Financial Aid Awarded?
Financial aid decisions at Massasoit Community College are made for a full academic year, on the basis of financial need, the availability of funds, and, for currently enrolled students, evidence of satisfactory academic progress. Financial need is determined through a review of your FAFSA. Satisfactory academic progress is clearly outlined in the Massasoit Community College Catalog. Wherever possible, awards are made to help cover costs of education (tuition and fees).

Last Update: August 3, 2009

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