Financial Assistance Letter
After your file is complete, a financial assistance letter will be mailed to you. Please sign the financial assistance letter and return it to the Office of Student Financial Assistance within two weeks of the date on the letter to let the office know what aid/loans you would like to accept or decline.Review Your Cost of Attendance
The cost of attendance listed on your financial aid letter is NOT the amount you will be billed for by the college. It represents the maximum amount of financial aid that you may have for one academic year, and it is based on both billed and non-billed expenses associated with attending MassArt.Review Your Financial Assistance
Review each item on your letter carefully and refer to the Guide to Financial Assistance for a description of each type of aid on your letter, including your loan terms and interest rates.
You may choose to accept the full amount of an award/loan, accept only a portion of the offered amount, or decline an award/loan entirely by crossing it out on your letter. Should you choose to accept only a portion of the offered financial assistance, you can make your changes right on the letter. For instance, if you are offered a loan for $2,000 for the year, but wish to borrow only $1,000, you may cross out the offered amount and write $1,000 beside it. You may always borrow the remaining portion of your loan if you determine later in the academic year that you need it.
Sign and Return Your Financial Assistance Letter
If you do not sign and return a copy of your financial assistance letter (and complete the necessary loan applications), your financial aid will not appear on your billing statement and the Office of Student Financial Assistance will assume you do not wish to accept your offer of financial aid.
Complete Loan Instructions
Federal Stafford Loan borrowers, complete your loan instructions.
Federal Parent PLUS Loan borrowers, complete your loan instructions.
Federal Graduate PLUS Loan borrowers, complete your loan instructions.
Outside Awards From Other Agencies
It is the responsibility of the student to notify the Office of Student Financial Assistance in writing of any scholarships or assistance you will be receiving from other sources. Please mail/fax a copy of your award letter from the outside agency to the Office of Student Financial Assistance. Types of assistance that must be reported include private scholarships, tuition waivers, veteran’s benefits, Massachusetts Rehabilitation assistance, and others.
In some cases your financial aid may have to be adjusted because of your outside scholarships/assistance. If this is the case, MassArt will do everything possible within the realm of federal regulations to protect a student’s grant aid. The Office of Student Financial Assistance will reduce loans before reducing grant aid.