Types of Financial Aid

Our Undergraduate financial aid package is a combination of need based grants from federal, state and institutional resources, academic or merit awards, along with self-help aid such as loans and Federal Work Study. Based on the information provided on the FAFSA and on the tax returns provided to our office, we will determine the financial need of the student and meet as much of that need as possible with a combination of Lasell College funding, federal and state funding from both grants and loans, and with Federal College Work Study. Academic awards are determined separately.

Institutional Aid For New Students

Institutional Aid For Transfer Students

Federal Aid

State Aid

Loan Options

Loan & Financing Options
When considering which loan to use to assist in paying for college, Lasell College recommends that all students complete the Free Application for Federal Financial Aid and apply for need based aid, and the Federal Stafford loan first, before pursuing any other more expensive loan options. 

Federal Stafford Loan: See Federal Aid Section for amounts.

Approximately 67% of first time, full time students who matriculate through to graduation borrow on the Federal Direct Stafford Loan. Students who borrow the maximum amount available, and graduate within four years, can expect to borrow $27,000 in the Federal Direct Stafford Loan program. The students who graduated from July 1 2013 to June 30, 2014 borrowed an average of $25,840 in Federal Student loans and an average of $37,302 in student loans from all sources. The 3 year draft cohort default rate for students who separated from the college between July 1, 2011 and June 30, 2012 is 5.1%. This loan is a STUDENT loan, and if you wish to use these funds toward your costs here at Lasell College this year, you will need to complete the Master Promissory Note (MPN) and Entrance Counseling. These should be completed online at the website.

Federal Direct Parent Loans for Undergraduate Students (PLUS):  This loan is available for parents to borrow to cover some or all of the out of pocket expenses for the year not covered by other financial aid being received by the student. This is a credit based loan, and a parent begins the process by applying at In order to apply, you will need to log into this site with YOUR Federal Student Aid ID used to sign the Free Application for Federal Student Aid (FAFSA). If you do not have a Federal Student Aid Id  or have forgotten yours, you may get one assigned to you by first going to Create a FSA ID and requesting one. Once you have the FSA ID, you may proceed with the application process. It takes approximately 24 hours for the credit decision to be processed. If approved, our office will be notified and we will add the loan to the students' package.If you are denied the Direct PLUS loan, you may appeal that decision, apply with an endorser or do nothing. If you choose not to appeal or apply with an endorser, your student will be eligible for additional Direct Unsubsidized Stafford loan funding in the following amounts:

  • Freshman and Sophomore students: additional $4000 for the year Unsubsidized Stafford Loan
  • Junior and Senior students: additional $5000 for the year Unsubsidized Stafford Loan
  • We highly recommend applying for enough to cover the cost of attendance for the full year. If you need assistance determining the amount to borrow, we recommend you contact Student Accounts at 617-243-2103.

Private/Alternative loans for students:
These loans are usually borrowed in the students' name with someone as a cosigner. The amount is limited to the cost of attendance less the other aid a student is receiving. To research the loans, the lenders available and to begin the application process for a loan, we recommend you research the education loan options by going to ELM Select. You will be able to research the lenders who offer private education loans, and follow the links to the lenders' websites to complete the application online. We require that the application be completed and approved before we will add this loan to the award package and allow it to appear as a credit on the student's bill.

We highly recommend applying for enough to cover the cost of attendance for the full year. If you need assistance determining the amount to borrow, we recommend you contact Student Accounts at 617-243-2103.

Lasell College has chosen ELM Select to present information regarding private loan lenders. Any lender with whom our students have previously borrowed, or who has provided their information to us to be listed appears on this list. We will process the application for a private student loan from any lender you choose. We are referring you to the ELM Select website for informational purposes only.

Application Timeline:

  • Stafford Loan Master Promissory Note and Entrance interview for new students: After May 1.
  • Parent loans for new or returning students: After May 1.
  • Private Student Loans for new or returning students: After May 1.
  • Monthly Payment Plan: Set up payments for the 10 month plan beginning in June by going to the Student Account Center

Information regarding repayment of loans: As students graduate or separate from college for other reasons, they will need to be aware of their repayment options in the Federal Stafford Loan programs. More information and guidance can be found at or at the National Student Loan Database System.

Financing Options