Financial Aid: Understanding Your Financial Aid Award
Financial Aid at Fitchburg State College
The primary purpose of financial aid at Fitchburg State College
is to assist those students who, without financial assistance, would
be unable to attend. The various financial aid programs are
provided through a number of funding sources and are described in
this brochure. The information enclosed also describes how
your eligibility for financial aid is determined, college billing
and refund procedures, alternative financing options and helpful
hints and phone numbers.
You are encouraged to carefully review the information in this
brochure. The staff of the Financial Aid Office is available
to assist you throughout the financial aid process and looks forward
to working with you throughout your education at Fitchburg State
College.
Determining your Eligibility for Financial Aid
Your eligibility for financial aid is determined by computing the
difference between your family's available resources for college
and the total cost of attendance at Fitchburg State College (FSC).
Your family's available resources are determined by an analysis
of the information you submitted on the Free Application for Federal
Student Aid (FAFSA). This analysis considers the income and
assets of you and your family, the size of your household and the
number of household members attending college on at least a half-time
basis. From this analysis an Expected Family Contribution
(EFC) is determined.
The EFC is subtracted from the total cost of attendance at FSC
for the academic year. The difference is your eligibility
for financial aid.
Cost of Attendance - EFC = Financial Need
Your financial aid award is based on this eligibility,
the college's resources and institutional policy. Alternative
loans, such as those described in this brochure, are available
to students and parents to help finance all, or part, of your EFC
as well as any unmet financial need.
Cost of Attendance
Your cost of attendance or student budget is based
on your enrollment status and place of residence while enrolled
at FSC. A budget contains the following expenses: tuition,
fees, room, board, and estimated costs for books, supplies, transportation,
personal expenses and loan fees.
Students with dependent children may qualify for additional
financial aid to assist with child care expenses. Contact
our office for more information.
Should a change in any of the listed expenses occur,
your budget and eligibility for financial aid will be recalculated.
If this results in adjusted financial aid eligibility, you will
be notified with a revised award letter.
The total cost of attendance listed below is estimated
for a Massachusetts Resident living in a residence hall. If
you are living off-campus or with your parents, and/or you are attending
on a less than full-time basis your budget will be lower.
Your budget is based on the enrollment and housing information you
supply on your FAFSA and is confirmed after registration is completed.
Estimated Cost of
Attendance*
On-Campus Massachusetts Resident |
Direct Costs |
Indirect Costs |
| Tuition |
$ 970.00 |
Books/Supplies |
$800.00 |
| Fees |
5430.00 |
Transportation |
350.00 |
| Room |
5110.00 |
Personal/Misc. |
1500.00 |
| Board |
2700.00 |
|
|
| |
|
|
|
|
| Total |
$14,210.00 |
Total |
$2650.00 |
|
Total Budget $16,860.00
|
*2009-2010 costs not yet available |
Financial Aid Awards
Financial Aid is awarded from three major sources:
federal, state and institutional funds. Your financial aid
package is made up of one or several of these sources depending
on your calculated financial need.
For purposes of financial aid, MA residency is determined in accordance with regulations set forth by the Massachusetts Board of Higher Education's Office of Student Financial Assistance. Students qualifying for in-state tuition do not necessarily meet the residency requirements for Massachusetts state financial aid.
Grants & Scholarships
Federal Pell Grant
Gift aid from the federal government. Awarded
to high need students who are pursuing their first undergraduate
degree. Awards range from $609 to $5350 per year depending
on the student's enrollment status and EFC.
Academic Competitiveness Grant (ACG)
Gift aid from the federal government. Awarded to Pell Grant recipients who have completed a rigorous high school program as determined by the financial aid office. Award is $750 for freshmen and $1,300 for qualifying sophomores who maintain a 3.0 GPA.
Supplemental Educational Opportunity Grant (SEOG)
Gift aid from the federal government administered
by Fitchburg State College. Priority for this grant is given
to the highest need students. Available to undergraduate students
who are pursuing their first undergraduate degree and are enrolled
at least half-time. Average award is $800 per year.
MA State Grant
Gift aid from the Commonwealth. Awarded to full-time
undergraduate students who have been a resident of Massachusetts
for at least one year. (Parents of dependent students must
also meet residency criteria.)
Awards range from $300 to $1300 per year, depending on the student's
EFC and funding from the state.
MA Cash Grant
Available to Massachusetts residents who are enrolled
at least half-time in an undergraduate degree program. Average
award is $1000 per year, not to exceed the cost of tuition and fees.
MA Part-Time Grant
Available to Massachusetts residents enrolled part-time
in an undergraduate degree program. Eligibility is dependent
on the student's EFC. Average award is $600 per year.
National SMART Grant
Gift aid from the federal government awarded to high need juniors and seniors enrolled in select science majors. Recipients must be receiving a Pell Grant, attend full time, and maintain a minimum cumulative GPA of 3.0 Award is $4,000 per year. For purposes of this grant, grade level progression is defined by federal guidelines.
Special Fee Scholarship
Institutional funds awarded to out-of-state students
with financial need. Average award is $1000 per year.
Fitchburg State College Fee Grant
Institutional funds awarded to undergraduate students
with financial need. Average award is $1,000.
Tuition Waiver
Available to Massachusetts residents enrolled at least
half-time in an undergraduate day school program. Average
award is $970 per year, not to exceed the cost of tuition.
MSCBA Grant
Need based grant funding provided by the Massachusetts State College Building Authority for qualifying students residing in the dormitories. Average award amounts varies, not to exceed 50% of billed semester housing costs.
Loans
Massachusetts No-Interest Loan
A need-based loan from the Commonwealth to residents of Massachusetts.
No interest is charged on this loan. Repayment does not begin
until the student graduates, withdraws or drops below half-time
status. Available to high need students enrolled full-time
in an undergraduate program. Awards range from $1000 to $4000
per year.
Federal Perkins Loan
A low interest (5%) need-based loan from the federal government
and Fitchburg State College. Interest charges and repayment
begin nine months after the student graduates, withdraws or drops
below half-time status. Available to both undergraduate and graduate
students enrolled at least half-time. Awards range from $400
to $4000 per year.
Nursing Student Loan
This loan mirrors the Federal Perkins Loan and is
awarded specifically to Nursing majors.
Federal Direct Student Loans
Federally guaranteed student loan administered by
Fitchburg State College. Subsidized Direct Loans are need-based
loans whose interest is paid by the government while the student
is enrolled at least half-time. Students are responsible for
the interest on the Unsubsidized loan for the life of the loan.
Repayment of principal begins six months after the student graduates,
withdraws or drops below half-time status.
Annual Direct Student
Loan Limits |
Grade Level |
Dependent |
Independent |
|
| Freshman |
$5500 |
$9500 |
| Sophomore |
$6500 |
$10500 |
| Junior/Senior |
$7500 |
$12500 |
| Graduate Student |
|
$20500 |
These loan limits include both subsidized and unsubsidized
amounts and cannot exceed your cost of attendance minus other financial
aid.
Note: A Federal Direct Loan can
not be used against the bill without a signed promissory note and
a signed award letter.
Employment Opportunities
Federal Work Study
Money which you are eligible to earn through an on-campus
or community service job. Your earnings are subsidized by
the federal government and Fitchburg State College. Please
note that Federal Work Study funds may not be used as a credit towards
your bill. If you accept this award, you will receive further
information on available positions at the College. Average
award is $2000.
Trust Fund Positions
On-campus jobs available to students who are not eligible
for Federal Work Study. A listing of campus offices with trust
funded positions is available in the Financial Aid Office.
Off-Campus
Students can find information regarding off-campus
employment opportunities in the Office of Career Services.
Outside Resources
Scholarships or benefits received outside of Fitchburg
State College must be reported to both the Financial Aid and Student
Accounts Offices. Federal and state regulations require us
to consider these resources before awarding financial aid.
It is the policy of Fitchburg State College to reduce self-help
(loan or work awards) before reducing grants or scholarships whenever
possible.
Terms and Conditions of Awards
- You must return a signed copy of your award letter to the Financial
Aid Office, indicating if you are accepting or declining your
financial aid offer.
- A loan counseling entrance interview is required of all first
time loan borrowers. You will be notified with instructions
for completing the entrance interview.
- You must report any outside awards, educational benefits and scholarships to the Financial
Aid Office. We are required to make adjustments to your
financial aid package to prevent or correct over-awards.
A financial aid package can never exceed the cost of attendance.
- A reduction in course load may result in a decrease in financial
aid. In addition, most states require full-time enrollment
(12 credits or more) in order to receive a state grant or scholarship.
- Changes in your housing status may result in an adjustment to
your financial aid and should be reported immediately to the Financial
Aid Office.
- Withdrawal from the college may result in partial or full cancellation
of your financial aid award. Withdrawal may also effect
your future eligibility for financial aid. Financial aid
recipients considering withdrawal from the College are advised
to contact the Financial Aid Office immediately.
- Satisfactory Academic Progress must be maintained in order to
retain eligibility for financial aid. Refer to the College
Catalogue for the Satisfactory Academic Progress policy.
- You must meet all tests of eligibility. If at any time
you cease to be eligible, your awards will be canceled.
We assume you are the following: accepted to and enrolled
in a degree program, a citizen or permanent resident of the U.S.,
maintaining at least half-time status, not in default on a student
loan, registered with the Selective Service (if a male over 18),
and maintaining satisfactory academic progress, as defined by the financial aid office.
- You must reapply for financial aid each year. Priority
will be given to students completing the FAFSA prior to March
1st.
College Billing and Refund Procedure
Fitchburg State College bills twice per year.
Fall semester charges are billed in July (due in August).
Spring semester charges are billed in December (due in January).
Each semester you are required to notify the Office of Student Accounts your intent to return for the semester by the due date even if the bill is covered
by financial aid.
You may use your financial aid awards (except "estimated"
awards and Federal Work Study) toward your bill. Approved
financial aid will appear as a credit on the semester bill.
Each semester, 99 percent of your Direct Loan (97.5 percent of your Direct Parent Loan) may be used
toward your bill once you have completed the promissory note and
the award letter. Any alternative loan funds must be received
by FSC before they can be used to satisfy your bill. It is
your responsibility to pay any balance due. Cash, checks,
Master Card, Discover, Visa and American Express are options available
to pay outstanding balances.
Although you may have financial aid above the amount
of your bill with the College, Fitchburg State complies with the federal recommendations
that all institutional obligations be satisfied before refunds are
issued.
Disbursements will be processed in a timely manner
once your enrollment and housing status is confirmed, your loan
promissory notes have been properly signed, your award letter has
been signed, and an entrance interview has been completed.
Please plan accordingly for the purchase of books and the payment
of rent if living off campus - refunds may not be available until
the midpoint of the semester.
Alternative Financing Options
In addition to need-based financial aid there are
several programs you may want to consider to supplement your financial
aid award or to assist you if you do not qualify for need-based
assistance. These programs may be used to finance all or part
of the total cost of attendance.
Federal Direct Plus Loans
Provides loans to qualified parents of dependent students. Parents may borrow up to the cost of attendance minus financial aid. The interest rate is fixed at 7.9 percent. Repayment begins 60 days after disbursement. Contact the Financial Aid Office for more information or an application.
MEFA Loans
Low-cost financing options that allow creditworthy
families to borrow up to the total cost of attendance minus financial
aid. There are a number of loan options available, so you
are able to choose the best loan for you. The fixed interest rate for 2007-2008 was 6.39
percent. Contact Massachusetts Education Finance Authority
or the Financial Aid Office for more information.
Alternative Student Loans
Offered by various lenders, these provide students with a
low interest alternative loan option, if they choose to borrow beyond
the limits set by the Federal Direct Loan Program. Contact
the Financial Aid office for more information.
Payment Plan
Offered through Tuition Management Services (TMS),
this interest-free plan divides your payments into four or five
equal monthly installments per semester for a $55 application fee.
Contact TMS or the Fitchburg State Student Accounts Office for more information. TMS is offered to students enrolled in day classes.
Helpful Hints
- You must reapply for financial aid each year. These awards
are valid for the 2009-2010 academic year only.
- Include the student's name and social security number on all
documents and letters mailed to the College.
- Establish a financial aid file for yourself. Make copies
of everything before mailing them.
- Complete, sign and return one copy of your award letter.
If you are borrowing with a Direct Loan for the first time at Fitchburg State college, complete your promissory
note and entrance interview as instructed.
- Respond to all requests in a timely manner. If additional
documentation is required, your financial aid award will be delayed
until you have responded. In addition, we will be informing
you during the course of the semester of any additional responsibilities
associated with receiving financial aid.
- We are here to help you. Please call our office if you
have questions regarding your award letter, alternative ways to
finance your education or about how a change in your family's
financial circumstances may be considered.
Important Information for Incoming Students
- Tentative Award Letters, which are mailed during the months of March and April, are based solely on the FAFSA data and are intended to provide you with an estimate of your financial aid eligibility. These awards cannot be used against the fall semester bill. Actual Award Letters are mailed beginning May 1st to all deposited students with a complete financial aid file and are based on a full review of your application.
- If you are borrowing a Federal Direct Subsidized or Unsubsidized Loan for the first time at FSC, you must complete a loan counseling session, called an Entrance Interview, online at www.dlssonline.com. You must also complete a Master Promissory Note online at http://dlenote.ed.gov. Additional information and instructions can be found at www.fsc.edu/finaid/undergraduate/studentloans.html. Notification will be mailed to you once you have signed and returned your Actual Award Letter to the Financial Aid Office.
Important Phone Numbers
| Fitchburg
State College Financial Aid Office
|
Phone: (978) 665-3156 |
| Fax: (978) 665-3559 |
| Email: finaid@fsc.edu |
| www.fsc.edu/finaid
|
Fitchburg State College
Student Accounts
(Billing & Payment Plan) |
(978) 665-4126
www.fsc.edu/studentaccts |
| Fitchburg State College
Admissions Office |
(978) 665-3144 |
| Tuition
Management Services (Payment Plan) |
1-800-722-4867 |
| www.afford.com |
MA Office
of Student Financial Assistance (OSFA)
(MA Grant) |
(617) 727-9420 |
| Massachusetts Educational
Finance Authority (MEFA) (MEFA Loans)
|
1-800-449-MEFA |
Internal Revenue Service
(Copies of Federal Tax Returns) |
1-800-829-1040 |
|
