MassArt participates in a wide variety of federal and state financial aid programs. These programs can be grouped into three categories: grant, loan and work. If an award is not listed on a student's award letter then that student is either not eligible for the program, or the funding for the particular award has been exhausted. Please contact a financial aid counselor with questions about any of the award programs.

Grants and Waivers

Grants and Waivers are considered gift aid and do not have to be repaid.

Mass Grant
A state funded program administered by the Commonwealth of Massachusetts, which is awarded to eligible Massachusetts Residents who complete their FAFSAs by May 1. This is a strict state deadline. Funds are awarded to students who are financially needy and do not have a prior bachelor's degree. The MassArt Office of Student Financial Assistance is familiar with the state's criteria in awarding these funds, and will include the amount a student is eligible for on the award letter prior to confirmation from the state. In some cases, the state may require additional information from a student's family to determine eligibility for an award. If the state notifies a student that they require further information, it is important to comply immediately. Students who do not comply in a timely manner lose their state scholarship award.

Pell Grant
A federal grant awarded to undergraduate students who are pursuing their first bachelor's degree. These awards are based on financial need.

SEOG (Supplemental Education Opportunity Grant)
A federal grant which is only awarded to Pell Grant recipients.

ACG (Academic Competitiveness Grant)
An Academic Competitiveness Grant will provide up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study to full-time students who are U.S citizens, eligible for a Federal Pell Grant, and who had successfully completed a rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education. Second year students must also have maintained a cumulative grade point average (GPA) of at least 3.0. The program is available for the first time for the 2006-07 school year for first year students who graduated from high school after January 1, 2006 and for second year students who graduated from high school after January 1, 2005. The Academic Competitiveness Grant award is in addition to the student's Pell Grant award.

If you can answer YES to all of the following questions, you may potentially be eligible to receive an Academic Competitiveness Grant.

1. Are you a U.S. citizen?
2. Did you graduate from high school after January 1, 2005?
3. Are you eligible to receive a Pell Grant?
4. Will you be enrolled as a full-time first or second year student in a two-year or four-year degree program?

Tuition Waiver/Tuition Grant
State funded grants awarded to undergraduates from Massachusetts who are pursuing their first bachelor's degree. Awards are based on financial need.

State Scholarships
For residents of Massachusetts, see the description of the MassGrant (above). For residents of other states, check with the state's scholarship office to determine eligibility for an award and if it is transferable to MassArt. MassArt's Office of Student Financial Assistance should be notified of any transferable award from a state other than Massachusetts and this award will be included in the financial aid package.

Senator Paul E. Tsongas Scholarship Program
A scholarship covering all tuition and fee charges for four years awarded annually to five new students from Massachusetts. Recipients must place in the top ten percent of their class or have a grade point average of 3.75 and have a combined SAT score of 1200 or higher or have earned at least two grades of 3.5 (B+) or better in advanced placement or honors courses. MassArt's Admissions staff selects Tsongas Scholars from the pool of accepted applicants who meet the above criteria and who also have exemplary portfolios and other admission submissions; preference is given to those candidates demonstrating financial need. Tsongas scholars must maintain solid academic records and receive endorsement from their faculty each year to continue their awards.

Stanley Z. Koplik Certificate of Mastery Tuition Waivers
Massachusetts Board of Higher Education Koplik Certificates recognizes high academic achievement on the MCAS and other measures of academic accomplishment including competitions, student publications, and awards. Recipients must maintain a college 3.3 grade-point-average or the equivalent. The Massachusetts Department of Education determines Koplik Certificate of Mastery Tuition Waiver awards.

A NOTE ON THE JOHN AND ABIGAIL ADAMS SCHOLARSHIP

MassArt does not participate in the Adams Scholarship program. Because of the college's special status, we do not receive funding for these scholarships from the Commonwealth. MassArt's special status within the state's higher education system makes us more dependent on tuition revenue than the other state colleges. In our New Partnership agreement, the college accepted a reduced appropriation from the state in exchange for the ability to retain tuition revenue. This arrangement means that tuition waivers which are not reimbursed by the Commonwealth, including the Adams Scholarship, directly reduce the resources available to maintain quality academic programs, which is our highest priority. Currently, there is no approved mechanism for the College to receive reimbursement for Adams scholarships. MassArt enrolls a large number of Adams scholarship recipients each year, and we are not able to cover the cost of the program without reimbursement from the Commonwealth. However, MassArt continues its strong commitment to directing financial aid resources to the best-qualified students--with academic and artistic potential--through our long-standing and successful need-based financial aid strategy. This includes scholarship assistance for many students from middle-income families.

State Employees Tuition Waiver
According to the System-Wide Tuition Remission Policy for Higher Education, tuition remission may be provided to eligible state employees, their spouses, and dependent children based on guidelines established by the Board of Higher Education. Students receiving tuition remission benefits may be exempt from all or partial tuition. Students are responsible for all other education costs including fees, books, supplies, and living expenses.

National Guard/Veterans Exemption
Students who have served in the armed forces or are active members of the National Guard may be entitled to receive tuition remission benefits equal to the cost of tuition. Students are responsible for all other educational costs including fees, books, supplies, and living expenses. Contact MassArt's Registrar's Office for additional information.

Federal Work-Study

Federal Work-Study is a work program, as the title suggests, and is money that a student can earn in one of the work-study jobs at MassArt. Work-study students are paid $8.00 per hour and receive paychecks like any other job. Money earned in the work-study program can be used for any educational and/or living expenses but cannot be deducted from the school bill. On average, work-study students work approximately 8 hours per week and may be responsible for helping various administrative offices, bringing prospective students on tours, helping out in one of the studios, gallery sitting, etc.

Unfortunately, we cannot guarantee jobs since there are not enough work-study positions on campus for each student. Students are responsible for finding their own work-study jobs, and can search for them online. New students who are awarded work study as part of their financial aid package receive more information about the program during the summer months. Students interested in working off-campus may apply for one of the community service work-study jobs through the Center for Art and Community Partnerships Office. In addition, the Career Services Office also posts jobs available in the Boston area. Students that are not able to find a work-study job will NOT receive additional funding to replace the work-study award.

Loan Programs

Loan programs have varying repayment terms and interest rates and MUST BE REPAID! Students who receive a Stafford loan for the first time at MassArt are required to attend an entrance interview. Entrance interviews are short informative sessions that teach students about their rights and responsibilities as student loan borrowers. Entrance interviews are completed online by visiting the web site www.dlssonline.com, and clicking on the "Entrance & Exit Counseling" button. Loans are cancelled for students who do not attend an entrance interview.

The average student loan debt for a 2006 graduate is $22,093.

Direct Subsidized Stafford Loan
A federal student loan that does not need to be repaid until six months after the student graduates, withdraws, or drops to less than part-time. The interest rate is fixed at 6.8%, but no interest is charged on the loan until the student begins repayment. Students borrow this money directly from the federal government; however the Office of Student Financial Assistance does all of the loan processing. By law, a loan fee will be subtracted from each loan you receive. This fee will be subtracted proportionally from each disbursement of your loan. The loan fee will be shown on a disclosure statement that is sent to you.

Direct Unsubsidized Stafford Loan
A federal student loan that does not need to be repaid until six months after the student graduates, withdraws, or drops to less than part-time. The student is responsible for the interest, but has the option of either paying it monthly, or having the interest accrue. Students borrow this money directly from the federal government; however the Office of Student Financial Assistance does all of the loan processing. The interest rate is fixed, at 6.8%. By law, a loan fee will be subtracted from each loan you receive. This fee will be subtracted proportionally from each disbursement of your loan. The loan fee will be shown on a disclosure statement that is sent to you.

Direct Parent PLUS Loan
A federal loan for parents of undergraduate dependent students that is not based on financial need. This loan has a fixed interest rate of 7.9%. PLUS loans are subject to a credit evaluation and therefore can be denied. Parents borrow this loan directly from the federal government; however the Office of Student Financial Assistance does the loan processing. Repayment begins after 60 days from the date the loan is fully disbursed. A PLUS loan cannot be deducted from a student bill until the Office of Student Financial Assistance has received notification of approval. Please note that 4% of this loan is retained by the federal government for processing. If your parents cannot borrow a Direct PLUS Loan for you because they have an adverse credit history, and if you’re a dependent undergraduate, you may be eligible to borrow additional amounts in the form of Direct Unsubsidized Loans.

Graduate PLUS Loan
Graduate students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance in the Direct Loan Program. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate PLUS loans. These requirements include a determination that the applicant does not have an adverse credit history, repayment beginning on the date of the last disbursement of the loan, and a fixed interest rate of 7.9 percent in the Direct Loan program. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS loan.

Massachusetts No Interest Loan Program
A student loan offered to needy Massachusetts's residents by MassArt’s Office of Student Financial Assistance on behalf of the Commonwealth of Massachusetts. This loan requires repayment 6 months after the borrower graduates, withdraws, or drops to less than part-time, and there is absolutely no interest charged. Students awarded this loan must come to the Office of Student Financial Assistance once college starts to complete the necessary paperwork.

Perkins Loan
A federal student loan offered to undergraduates and graduates that does not need to be repaid until 9 months after the student graduates, withdraws, or drops to less than part-time. The interest rate is 5%, however interest is not charged until repayment begins. Students awarded this loan must come to the Office of Student Financial Assistance once college starts to complete the necessary paperwork.

Alternative Loan Programs
We are hopeful that the financial aid offered to you will be sufficient in covering your costs associated with enrolling at MassArt. The loans on your financial aid award letter are federal and/or state loans and offer the best interest rates and repayment terms than any other type of non-federal or non-state student loan. If federal aid does not cover the total cost of your education, or should you decide not to accept a portion of the federal loans offered to you, you can apply for a private student loan.

The Office of Student Financial Assistance will process any loan application, but the following lenders have competitive rates while providing good customer service and loan processing:

www.studentloan.com (Citibank CitiAssist loan)
www.bankofamerica.com/teriloans (Bank of America TERI Loan)
www.salliemae.com (Sallie Mae Signature student loan)
www.citizensbank.com (Citizens Bank alternative loan)
www.Key.com/college (Key Bank alternative loan)
www.wachovia.com/education (Wachovia Education loan)

Outside Scholarships
MassArt's Office of Student Financial Assistance receives many notices about scholarships offered from private sources. Any outside scholarship opportunities and how to apply for them are posted on the Career Services website. Students should contact the Career Services Office once the semester begins to register for a User ID and password. Flyers for the scholarships are usually posted around campus or on the bulletin board directly next to the front door of the Office of Student Financial Assistance on the 8th floor of the Tower Building. Students are also encouraged to register at www.fastweb.com, the largest private scholarship search engine.

It is the student's responsibility to notify the Office of Student Financial Assistance of all financial aid received from other sources. Types of assistance that must be reported include private scholarships, tuition waivers, veteran's benefits, Massachusetts Rehabilitation assistance, etc. In some cases financial aid may have to be adjusted because of 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 awards. The Office of Student Financial Assistance will reduce loans before reducing grant aid. Please note that it is the student's responsibility to make certain that MassArt receives these outside scholarship funds.

Financial Aid Counseling Services

MassArt's Office of Student Financial Assistance offers a variety of counseling services to students. The staff offers budget counseling to help students determine if they have enough money to cover all of their educational expenses. Financial counseling is offered to those students who are living in an apartment for the first time and are not sure of their expenses. Students are encouraged to borrow only what is needed and the office is always available for private loan counseling. Appointments are encouraged for any of these counseling sessions to provide the best service.