Massasoit - Financial Aid Sources

Financial Aid Sources

Massasoit recognizes the need for financial assistance on the part of some students to help pay the cost of their higher education. This page will provide information regarding the types of financial aid available to students who wish to attend Massasoit, application proceedures, and eligibility.

Financial Aid consists of :

Grants & Scholarships - gifts which do not have to be repaid.
Tuition Waivers
Loans - these must be repaid but generally only after you have completed your higher education.
Student Employment - work on campus for which you are paid.

Grants (top)
Pell Grants
This federal program provides grants up to $4,731 for each undergraduate year. The award amount is based on the cost of attendance and length of study. Monies may available for study in the summer sessions if recipients attended less than full time during the Fall and Spring semesters.

Supplemental Opportunity Grant
For students with exceptional financial need.

Mass Grant
Provides assistance to Massachusetts residents who are studying full time. Award values range from $150 to $450 per semester. The Office of Student Financial Assistance sends award notifications directly to the student. Deadline to file FAFSA - May 1 each year.

Part Time Grant
Funded by the Commonwealth of Massachusetts, this program provides assistance to Massachusetts residents who are studying part time. Maximum award is $450 annually.

Access Grant
Another state funded program, this grant is available for needy students on a first come/first serve basis.

Tuition Waivers (top)
Tuition Waiver Policy

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.

Waiver documentation must be submitted by the bill due date, or at the time of registration, which ever is later. Waivers will not be processed retroactively. Waivers are not refundable.

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.

Students eligible for the Senior Citizen Waiver need to certify US citizenship and MA residency, and present proof of age 60 yrs or greater. Senior Citizen Waivers will not be accepted until late registration, which is 1 week before the start of class, and enrollment of 15 students in the class is confirmed.

Loans (top)

Federal Direct Subsidized Loans
Available to eligible student borrowers. They are need based: a FAFSA must be filed with the school the student plans to attend. These loans have a fixed interest rate of 6.0% for the 2008-2009 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, a FAFSA must be filed with the school the students plans to attend. Interest accrues during in-school period. Combined totals of subsidized Federal Stafford and unsubsidized Federal Stafford are the same as Federal Stafford Loans. loans have a fixed interest rate of 6.0% for the 2008-2009 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.

Plus Loans
For parent borrowers. These programs provide additional loan funds for educational purposes and are made by lenders. These loans have variable interest rates, adjusted each year. Plus loans are subject to credit approval. Further information on loan programs, repayment and debt management is available from the Office of Financial Aid.

Work / Employment (top)

Federal Work Study (FWS) is a federally funded student employment program. Students are placed with various academic and administrative offices throughout the College. There are also off-campus Work Study opportunities through our America Reads and Community Service programs. Student employees may not work more than 20 hours per week while classes are in session. The hourly wage is $8.00 per hour. Student employment guidelines and applications for the Federal Work Study are available in the Office of Financial Aid.

Study Abroad
A student's enrollment in a program of study abroad which is approved for credit by the home institution may be considered enrollment at the home institution for the purpose of applying for Title IV assistance. Students must contact the Registrar and the Director of Financial Aid to apply.

Education Tax Credits
Effective January 1, 1998, the Federal Government passed legislation to help students and/or parents with tax credits called the Hope Scholarship and The Lifetime Learning Tax Credit. If a student or their parents pay their tuition and fees upfront (they are not a recipient of grants or scholarships that paid their entire tuition), and their incomes fall in the established ranges ($80,000 joint filers/$40,000 single filers) they are eligible for this new tax credit the following year, and they must complete IRS forms with their taxes.

With the Hope Scholarship, if they pay $2,000+ they get the maximum $1,500 tax credit. It's 100% of the first $1,000 paid and 50% of the second $1,000. The Hope Scholarship is available for the first two years of post secondary education.

The Lifetime Learning Tax Credit is available beyond the first two years of college, and consists of a 20% tax credit for $5,000 (maximum) of tuition and fees paid each year through 2002, and for the first $10,000 thereafter.

For more information contact: The Admissions Office at (508) 588-9100, ext. 1411

Last Update: February 10, 2009

Call Toll Free: 1-800-CAREERS

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