Federal Programs
In order to receive consideration for any of these programs, students must complete a FAFSA annually. You can file your FAFSAform for 2008-2009 beginning January 1, 2008 online at www.fafsa.ed.gov.
Federal Pell Grant – A federally funded program that uses a standard formula, established by Congress, to evaluate the information you report on your FAFSA, to determine your Pell Grant eligibility. Pell Grant funding is set by the federal government each year. Current awards range from $400 to $4241 per academic year and are also based on enrollment status.
Federal Supplemental Educational Opportunity Grants (FSEOG) – A federally funded program for students with calculated exceptional need which gives priority to students who receive Federal Pell Grants. Award amounts depend on a student’s need and the level of funding received by the college. (Students are required to complete a FAFSA annually for consideration).
Federal Perkins Loans – A federally funded, need-based educational loan for students with exceptional need. The interest rate is 5 percent. Repayment begins nine months after a student graduates, withdraws from the College, or attends on a less than half-time basis. Award amounts vary. First time borrowers must complete an entrance interview before funds can be disbursed.
Federal Work Study (FWS) – A federally funded program that provides both on-campus and off-campus employment opportunities to Curry students with financial need. Unlike other financial aid awards, work study earnings do not automatically reduce tuition charges. Work Study students must work to earn the amount of their award each semester. Students will receive a bi-weekly pay check for the number of hours that they work.
Federal Stafford Loans - A federally funded, need-based loan available to eligible student borrowers. A Free Application for Student Aid (FAFSA) must be filed with the school the student plans to attend. First time borrowers must complete an entrance interview before funds can be disbursed.
Award amounts (per Academic year):
- Freshmen (0-29.5 credits) up to $3,500
- Sophomores (30-59.5 credits) up to $4,500
- Juniors & Seniors (60-120 credits) up to $5,500
Terms:
- Fixed interest rate of 6.0%
- 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
- A 2% fee may be deducted from loan proceeds prior to disbursement.
Federal Unsubsidized Stafford Loans - A federal funded loan, not need-based, available to eligible student borrowers.
Award amounts:
- Freshmen (0-29.5 credits) up to $3,500
- Sophomores (30-59.5 credits) up to $4,500
- Juniors & Seniors (60-120 credits) up to $5,500
Terms:
- Interest and principal may be deferred until student ceases to be enrolled
- Interest accrues during in-school grace and deferment periods
- Fixed interest rate of 6.8%
- Interest is not paid by the government. Borrower is responsible for all interest payments
- Repayment begins 6 months after the student graduates, withdraws or stops attending school at least half-time
- A 2% fee may be deducted from loan proceeds prior to disbursement
Student Loan funds will not be credited to your account until you are enrolled for at least six credits. If you are receiving a student loan for the first time at Curry, you will be required to complete loan entrance counseling. You may complete this on-line at Mapping Your Future. If you would prefer the paper version, we would be happy to mail one to you. You will also need to sign a Master Promissory Note for your Stafford loan. Instructions for completing the MPN will be sent to you after your eligibility has been determined. You can complete your MPN online by visiting ASA Direct.
Federal Parent Plus Loans – The Parent Loan for Undergraduate Students (PLUS) allows parents of to borrow on behalf of their dependent undergraduate students. Eligibility for this loan is not based on financial need but does require a credit check. Parents may borrow up to the cost of attendance less any financial aid. The Interest Rate is fixed at 8.5%. Payment on and interest and principal begin after the second disbursement of the loan. Parents have up to ten years to repay this loan. If a parent is denied the PLUS loan, his/her dependent student may be eligible for an additional Unsubsidized Stafford Loan. Please visit ASA Directto apply for a Parent Plus Loan or you may call 800-999-9080 X5015.
Award amounts:
Terms:
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Fixed interest rate of 8.5%
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Up to a 4% fee is deducted from loan proceeds prior to disbursement
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All fees are deducted from loan proceeds at disbursement
State Programs
State grants are based on financial need and may be offered to eligible students from their state of legal residence. Students should complete the FAFSA and follow any additional application requirements from their home state. Students should also be aware of any deadlines that are imposed by their home state. Many states such as New Hampshire, Vermont, Rhode Island, Maine, and Pennsylvania have reciprocal agreements with Massachusetts and provide funding to students who attend Massachusetts colleges. Please contact your state agency for additional information regarding eligibility.
Massachusetts Grants - A supplemental source of financial aid. Eligibility requires state residency and demonstrated financial need.
Mass State Grants – Awards are based on need and availability of funds to Massachusetts residents enrolled as full-time students at private colleges and universities in Massachusetts. No separate application is necessary.
Massachusetts Gilbert Grant – Gilbert Grants are funded by the Commonwealth of Massachusetts and are awarded by Curry College to eligible Massachusetts residents enrolled full time who demonstrate financial need. Awards vary and are subject to available funding.
Massachusetts No Interest Loan - A loan program funded by the Commonwealth of Massachusetts for Massachusetts residents who demonstrate high need. No Interest Loans are subject to available funding.