Financial Aid Process

To apply for financial aid, complete these steps: 

1. Complete the application

   Students should log in to Federal Student Aid, fill out the Free Application for Federal Student Aid (FAFSA), and complete any other documents required by the Office of Student Financial Planning.
   

   Please use Lasell University FASFA Code: 002158
   
   To maximize your aid eligibility, be sure to apply by the appropriate deadline for your state of residence. For MA state residents in the BSBA Program, the FAFSA should be completed and submitted no later than March 1 to be considered for MA state grant funding. 
   
   
2. Financial Aid Agreement
   Please fill out the Financial Aid Agreement Form to update us on your financial aid needs and excepted enrollment.
   
   
3. Complete the Entrance Counseling and Master Promissory Note (MPN)
   The Department of Education mandates that Direct Student Loan and/or Grad PLUS borrowers must complete Entrance Counseling, MPN before disbursement of their loan. 

• Direct Loan Entrance Counseling: Entrance Counseling helps to ensure that you understand the responsibilities and obligations you are assuming. Loan proceeds cannot be credited to your student account until you fulfill this requirement. 
• Direct Loan Master Promissory Note: The Subsidized/Unsubsidized Master Promissory Note (MPN) is a legal document in which you promise to repay your federal student loan(s) and any accrued interest and fees to your lender or loan holder.  

Alternative Lending Options:

1. Discontinued: Grad PLUS Loan.
   As of July 1, 2026, the U.S. Department of Education discontinued Grad PLUS loans for new borrowers and placed stricter borrowing limits on graduate students. 
   

   The U.S. Department of Education makes Direct PLUS Loans to eligible graduate or professional students through schools participating in the Direct Loan Program.

   To receive a Grad PLUS loan, you must:

   • Be a graduate or professional student enrolled at least half-time at an eligible school in a program leading to a graduate or professional degree or certificate;

   • Not have an adverse credit history (unless you meet certain additional eligibility requirements)

   • Meet the general eligibility requirements for federal student aid.

2. Private Loans  
   
   We highly recommend exhausting all federal financial aid options like the Federal Direct Loan(s) before pursuing the more expensive private student loans. Lasell University makes no recommendations regarding private loan lenders and will process a loan from any private education lender you choose.
   
   Graduate students can also use Persist, a free decision support tool, to review alternative graduate loan options. With the Federal Grad PLUS loans terminated as of July 1, 2026, Persist can be a great way to help students see what options are available: https://gradpersist.com

Who can borrow:

• Student borrower with someone (parent, grandparent, friend etc.) as cosigner. These loans will be based on the income and credit worthiness of both the student applicant and the cosigner
• Parent borrower with or without a cosigner

To research some loan options and apply, go to www.elmselect.com.  This site offers an unbiased comparison of the private loan options that are available for student loans. You will need to go to the lenders website to actually apply for the loan once you have determined which lender you would like to apply through.

Please note: Students who have borrowed a loan under the Direct Loan Program and/or a Grad PLUS Loan must complete an "Exit Loan Counseling" session during their final semester.

At Lasell, we work with you to help make your education affordable. Feel free to call, email, or visit the Office of Financial Aid at Lasell University to discuss your financial options at any time. 

Federal Direct Loan Schedule of Reductions (SOR)

Scheduled Award, Award Year, and Annual Award

Summary: With the new Federal Direct Loan SOR requirement, full-time students will receive the full amount of their annual loan offer. If a student is enrolled less than full-time, they will not be eligible to receive the full-time amount of loans offered to them. Instead, the university will calculate the amount of loan funding the student is eligible to receive based on the number of credits in which they are enrolled/academically engaged.

Effective July 1, 2026, Federal Direct Loans will be reduced based on the number of credits in which a student is enrolled/academically engaged. This process is called the Schedule of Reductions (SOR).

Students enrolled full-time for the academic year may receive up to the maximum annual Federal Direct Loan amount for which they are otherwise eligible.

Students enrolled less than full-time will receive a reduced annual loan eligibility based on their enrollment. If your scheduled loan award appears lower than in previous years, it may be because you are enrolled in fewer than the number of credits required for full-time annual enrollment under the new federal SOR rules.

What were the previous awarding rules?

In previous years, eligible students who attended less than full-time over the academic year still were offered their full annual Federal Direct Loan eligibility.

As of July 1, 2026, that rule is now changed.

Your annual loan eligibility is now tied to your total enrollment during the academic year. Students enrolled less than full-time should expect a reduced annual loan offer.

Similar to the Pell grant, students will now be offered the maximum amount of Federal Direct Loan funding per year based on full-time enrollment. See below for an enrollment guide detailing the number of credits in which a student must be enrolled/academically engaged to be considered full-time for financial aid purposes.

Undergraduate Students

24 credits (Fall Spring Summer): Summer 2 → Fall → Spring → Summer Main and 1 

• Undergraduate students are considered full-time for annual Federal Direct Loan purposes when enrolled in 24 credits during the academic year.
• Students completing fewer than 24 credits should expect a reduction to their annual Federal Direct Unsubsidized Loan eligibility.

Graduate Students

18 credits (Fall Spring Summer): Summer 2 → Fall Main, 1 → Fall 2 → Spring Main 1 → Spring 2 → Summer Main and 1 

• Graduate students are considered full-time for annual Federal Direct Loan purposes when enrolled in 18 credits during the academic year.
• Students completing fewer than 18 credits should expect a reduction to their annual Federal Direct Unsubsidized Loan eligibility.
• Students who previously relied on excess loan funds to receive refunds for living expenses may notice smaller loan amounts than in prior years.

Annual Loan Limits for Dependent Undergraduate Students

If dependent, your subsidized and unsubsidized Direct Loan annual eligibility is as follows:

Annual Loan Limits for Independent Undergraduate Students

If independent, your subsidized and unsubsidized Direct Loan annual eligibility is as follows:

Annual Loan Limits for Graduate Students

Students may borrow up to $20,500 each academic year of a Federal Direct Unsubsidized Loan.

Office of Financial Aid

finaid@lasell.edu
Phone: 617-243-2227
Fax: 617-243-2326
1844 Commonwealth Ave.
Newton MA 02466

Lasell University defines full-time and half-time graduate enrollment below:

How Full-Time Enrollment is Determined: 

To be considered full-time, you must be registered for at least 9 credits that run at the same time during the semester. 

Some sessions do not overlap. For example, Session I ends before Session II begins, so taking 3 credits in Session I, and 6 credits in Session II is not considered full-time. Even though it adds up to 9 credits, the dates do not overlap, so it doesn’t count as full-time for financial aid purposes. 

Please refer to the sample schedule examples to ensure your course load meets the requirements for financial aid purposes. You may invite your academic advisor to review with you to plan the most efficient schedule. If needed, we can review your schedule with you to confirm your enrollment status.

In order to be eligible for federal aid, students must be enrolled a minimum of half-time. 

• The Winter session is optional. As a stand-alone term, winter intersession does not qualify for financial aid. A student may receive aid for the intersession if he or she is in either Spring main or Spring I. Winter will be attached to one of those sessions to receive aid.
• Graduate students are eligible to borrow up to $20,500 in Federal Direct Unsubsidized Loan. To be eligible you must complete the FAFSA, be enrolled at least half time, and admitted into a graduate certificate or degree program. Students must maintain Satisfactory Academic Progress to remain eligible for aid.
• Aid will be disbursed after the add/drop deadline for each session. If a student has not attended any classes, they will not be considered in attendance and will not receive financial aid for that session.

Financial Aid Application Form

Graduate students are not eligible to be covered by the Lasell University Student Health Insurance. Courses that meet strictly online and courses that meet less than 15 days a semester on campus are not included in calculating qualifying credits. If you need health insurance, see more information below.

International Graduate Students

International Graduate Students are strongly encouraged to purchase health insurance coverage prior to arrival in the United States. It is advised to protect against unforeseen health circumstances while studying here at Lasell University. There are a variety of health insurance providers available to assist international students in purchasing coverage. University Health Plan (UHP), the Lasell University provider, is available to answer general insurance plan questions and make appropriate referrals. To speak with a representative, please call (888) 251-1714 or send an email to info@univhealthplans.com.

Lasell University's Financial Aid Fraud and Misrepresentation Policy 

1. Institutional Commitment to Integrity
   Lasell University is committed to the highest standards of integrity and ethical conduct in the administration of federal, state, and institutional student financial aid programs. As a participant in Title IV of the Higher Education Act (HEA) of 1965, Lasell University adheres to all federal, state, and regulatory requirements. 
2. Definition of Financial Aid Fraud
   Financial aid fraud involves the intentional misrepresentation or alteration of information to obtain Title IV funds (grants, loans, or work-study) for which a student is not eligible. In the context of graduate programs, this includes but is not limited to: 

• Identity Theft/Fraud: Using a false identity or another person’s identity to apply for admission or financial aid.
• Falsification of Academic Credentials: Submitting fraudulent transcripts, certificates, or prior degrees to meet admission or program requirements.
• Loan Fraud: Falsifying FAFSA information, such as income, assets, or dependency status.
• Distance Education Fraud Rings: Participating in organized efforts to gain federal aid without intent to complete the educational program. 

III. Detection and Prevention
Lasell University actively monitors for inconsistencies in student files. If conflicting information is found in any records (admission, financial aid, or academic), the institution will resolve that conflict before disbursing aid. Measures include rigorous identity verification (V4/V5) and, where necessary, virtual or in-person validation of student identity. 

1. Identity Verification Process
   If your application is flagged for verification, you must present a valid, unexpired government-issued photo identification (e.g., driver’s license, state ID, or passport) to an institutionally authorized representative. 

• In-Person: You may bring your ID to the Office of Student Financial Aid.
• Virtual: You may present your ID via a live video call to an authorized representative.

668. Reporting Suspected Fraud
     In accordance with 34 CFR 668.16(f), Lasell University is required to refer any credible information indicating that a student, employee, or third-party servicer may have engaged in fraud or criminal misconduct to the U.S. Department of Education’s Office of Inspector General (OIG). 

• Internal Reporting: Students or staff who suspect fraud should immediately notify the Office of Financial Aid or the Compliance Office.
• External Reporting: Suspected fraud can be reported directly to the OIG Hotline:
  • Phone: 1-800-MIS-USED (1-800-647-8733)
  • Email: oig.hotline@ed.gov
  • Web: OIG Hotline Portal 

1. Consequences of Fraud
   If an investigation confirms that a student has knowingly submitted fraudulent information, the student may face consequences, including: 

• Cancellation of aid and repayment of funds.
• Disciplinary action, including dismissal from the institution.

Referral to federal authorities for criminal prosecution (up to $20,000 fine and 5 years imprisonment).