Types Of Financial Assistance
Lasell College Alumni: If you are an alum of Lasell College, you may qualify for a discount on tuition. Contact the Office of Graduate Admission or Student Financial Planning to find out more information.
Federal Direct Unsubsidized Stafford Loan
Graduate students who take a minimum of 6 credits per semester, or 3 credits in an 8 week term, and are enrolled in one of the Masters degree programs, may apply for the Federal Direct Stafford Loan. To apply students must complete the Free Application for Federal Student Aid at www.fafsa.ed.gov.
Unsubsidized Federal Direct Stafford Loan is not awarded on the basis of need. If you qualify for an unsubsidized loan, you will be charged interest from the time the loan is disbursed until it is paid in full. You can choose to pay the interest while you are in school and during your grace and authorized deferment periods or allow it to accumulate. If you allow the interest to accumulate, it will be added to the principal amount of your loan and will increase the amount you have to repay. If you pay the interest as it accumulates, you'll repay less in the long run. Students are required to complete a Master Promissory Note and Entrance interview the first time either loan is borrowed. Students should complete this online at www.studentloans.gov.
After you graduate, leave school, or drop below half-time enrollment, you have a grace period of six months before you begin repayment. If you return to school at least half time before your grace period expires, you will retain the entire 6-month grace grade period for your loans. The amount of each payment depends on your loan amount and on the length of your repayment period. You have the option of repaying your loan using a fixed, graduated or income-sensitive repayment plan, but you are required to repay the loan within 10 years, unless your balance warrants extended repayment and you are a new borrower. Maximum Annual Stafford Loan Amount available is $20,500 divided up equally over the academic year.
The total debt you can have outstanding from all Stafford Loans (Undergraduate and Graduate) combined is: $138,500 as a graduate or professional student.Online Resource: National Student Loan Data System www.nslds.ed.gov
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