State Loans

Massachusetts No Interest Loan (NIL)

This loan program is  funded by the Commonwealth of Massachusetts and administered by the College for Massachusetts residents enrolled full-time in a degree program working toward their first bachelor's degree who demonstrate high need. This is a loan and must be repaid.  No Interest Loans are subject to available funding. The minimum NIL award you can receive is $1,000, with a maximum award amount of $4,000 per academic year. NIL award amounts are determined according to financial need. A NIL eligible student has a lifetime borrowing limit of $20,000.

You will be required to sign a promissory note and complete Loan Entrance Interview with a Representative from Student Financial Services at the start of the semester. Loan proceeds will be credited to your tuition account once the loan proceeds are received from the Commonwealth but no earlier than the end of the add/drop period for the semester.

Borrowers of Massachusetts No Interest Loans are required to complete an Exit Interview prior to ceasing enrollment on a half-time basis.  This may now be completed online.  You will receive a letter in March from the Massachusetts Department of Higher Education Office of Student Financial Assistance outlining the steps for completion of the online exit interview.  You will be asked to login to Educational Computer Systems, Inc (ECSI) website to complete the exit interview.  This is the loan servicing company for the Massachusetts Department of Education.  You will be required to provide family information and personal references.  Please be sure to have this information ready when you begin the online Exit Interview.  If you have any questions regarding your Massachusetts No Interest Loan debt or the Exit Interview process, please contact the Office of Student Financial Services.