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Financial Aid Programs

Grants & Scholarships | 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.

Federal Work Study (FWS) is a federally funded program that provides employment to students with financial need. Students may work an average of 10 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 community service and non-profit agencies in the local community. The current rate of pay is $9.00/hr on campus and $10/hr off-campus. To apply for a Federal College Work Student position please complete the application found here and return to the Financial Aid Office on the Brocton Campus or to the Enrollment Center on the Canton 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.

Do you receive TAFDC, SNAP food assistance, WIC, MassHealth or other supplemental income?
You may be eligible for CHOICES, a free academic program offered for low-income individuals that qualify for financial aid assistance. Click here to learn more about CHOICES.

Federal Direct Loans  (top)

Direct Stafford Loans are loans made available to student borrowers through the federal government. Students who are enrolled at least half-time may borrow a Stafford Loan to pay for their education expenses. Before a student can borrow a loan, the student must apply for financial aid by completing a FAFSA application.

Federal Direct Subsidized Loans
The subsidized Federal Direct Stafford  Loan is a federal student loan available to students with financial need. Subsidized loans are among the least expensive loan options for students because the federal government pays the interest while the student is attending college on at least a half-time basis, during the six month grace period prior to repayment, and during other periods of authorized deferment. 

  • Fixed Interest rate of 4.66% for the 2014-2015 academic year
  • Eligibility is based on financial need, as determined by the FAFSA
  • Cumulative lifetime undergraduate loan limit of $23,000
  • No payments required while enrolled in school
  • Loan origination fee of 1.073% for loans disbursed after October 1, 2014

Federal Direct Unsubsidized Loans
The unsubsidized Federal Stafford Loan is a federal student loan that is not based on financial need. Interest accrues on unsubsidized loans from the time the loan is disbursed by the school. If the borrower does not pay the interest as it accrues, it is capitalized (added to the loan balance). The interest is not paid by the federal government. This is the key difference between subsidized and unsubsidized student loans.

  • Fixed Interest rate of 4.66% for the 2014-2015 academic year
  • Borrow up to $10,500 per year, depending on grade level and dependency status
  • Cumulative loan limit of up to $31,000 for dependent undergraduate students, and up to $57,500 for independent undergraduate students
  • No payments required while enrolled in school
  • Loan origination fee of 1.073% for loans disbursed after October 1, 2014

Is there a time limit on how long I can receive loans?

If you are a first-time borrower on or after July 1, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. This time limit does not apply to Direct Unsubsidized Loans or Direct PLUS Loans. If this limit applies to you, you may not receive Direct Subsidized Loans for more than 150 percent of the published length of your program. This is called your “maximum eligibility period.” Your maximum eligibility period is based on the published length of your current program.

For example, if you are enrolled in a two-year associate degree program, the maximum period for which you can receive Direct Subsidized Loans is three years (150 percent of 2 years = 3 years).  If you are enrolled in a one-year certificate program, the maximum period for which you can receive Direct Subsidized Loans is 1.5 years (150 percent of 1 years = 1.5 years).

Because your maximum eligibility period is based on the length of your current program of study, your maximum eligibility period can change if you change to a program that has a different length. Also, if you receive Direct Subsidized Loans for one program and then change to another program, the Direct Subsidized Loans you received for the earlier program will generally count toward your new maximum eligibility period.

Parent Loans  (top)

Federal Direct PLUS Loans
Federal Direct PLUS loans are federal loans that parents of dependent undergraduate students can use to help pay education expenses. The U.S. Department of Education makes Direct PLUS Loans to eligible borrowers through schools participating in the Direct Loan Program.  To apply for a PLUS loan, the student must complete a FAFSA application, and the parent borrower must submit a PLUS loan application, which is available here.

  • Fixed Interest rate of 7.21% for the 2014-2015 academic year
  • Interest is charged from the time the loan is disbursed
  • The maximum loan amount is the student’s cost of attendance minus any other financial aid received
  • Must be used for educational expenses only
  • Loan origination fee of 4.292% for loans disbursed after October 1, 2014
  • Borrower must be the student's biological or adoptive parent or the student's stepparent, if the biological or adoptive parent has remarried at the time of application.  Parent PLUS Loan borrowers cannot have an adverse credit history (a credit check will be done). In addition, parents and their dependent child must be U.S. citizens or eligible noncitizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the Federal Student Aid programs.

Tuition Waivers and Veterans Benefits (top)

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

Tuition Waivers
Several kinds of tuition waivers are available to Massasoit Community College students. These waivers include, but are not limited to, National Guard, veteran, senior citizen, Native American, state employee, and ward of the state.

Students will need to present documentation of eligibility, and may need to certify they meet all waiver eligibility requirements prior to having their waiver accepted. Students eligible for waivers should obtain clarification from the Financial Aid Office before making course selections.

Waiver documentation must be submitted by the bill due date, or at the time of registration, whichever is later. Students wishing to use a senior citizen waiver should check with the Financial Aid Office for additional requirements.

Veterans Administration Benefits
If you are a veteran, the widow of a veteran, or the child of a disabled or deceased veteran, you may qualify for federal and/or state benefits. For more information, contact the Veterans Services Office at Massasoit Community College at 508-588-9100 x.1477 or email to veterans@massasoit.mass.edu.

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