Financial Aid & Scholarships

A guide for first-year and transfer undergraduate students.

You’ve decided to pursue higher education. Now it’s time to figure out how you’re going to pay for it.

That’s where Lesley’s Financial Aid Office can help. Use our step-by-step guide to apply for government and university funding. Scholarships, grants, Work-Study, and loans. It’s all right here. We’ve even included private sources of funding you can apply for on your own.

Don’t think you qualify for aid? We recommend applying anyway. There are many types of aid you may not have considered, and it’s always a good idea to explore all of your options.

Let’s get started.

International Students

If you're an international student, you are not eligible for federal or state funding, and so, you won't file the Free Application for Federal and Student Aid (FAFSA).

Learn about scholarships, private loans, and student jobs you're eligible for.

Apply for Federal & State Financial Aid

Apply for Federal & State Financial Aid

Your eligibility for federal and state aid, and even some types of school-based aid, is determined by your Free Application for Federal Student Aid (FAFSA). In addition, there are other non-government aid programs that require the FAFSA.

So, we recommend you start there.

  • Step 1: FAFSA & Deadlines

    Begin your pursuit of all financial aid by completing the Free Application for Federal Student Aid (FAFSA).

    Submit the FAFSA when you apply for Lesley University admission, and each year to renew.

    Use Lesley University’s school code: 002160

    Need help? Watch these videos on how to fill out the FAFSA.

    Preferred Deadlines

    First-Year Undergraduate Students

    • February 15 for Fall start
    • November 1 for Spring start


    Transfer Undergraduate Students

    • March 1 for Fall start
    • November 1 for Spring start


    All Massachusetts Undergraduate Students

    Apply no later than May 1, before the beginning of the award year, to be eligible for the MassGrant. If you miss this deadline, Lesley University grant funding won’t replace forfeited funds.

    Threshold Program

    • February 15
    • Threshold always starts in Fall
  • Step 2: Additional Documents

    Submit additional documents, if asked.

    The U.S. Department of Education randomly selects 30 percent of applicants to complete a verification process.

    We’ll contact you if we need more information. Current students should check their Lesley email account.

    Once you’ve been accepted, log into your LOIS account to view your required documents under “My Documents.”

  • Step 3: Financial Aid Award Letter

    Tentative Award Letter

    You’ll get a Tentative Award letter first, which is an early estimate of your financial aid.

    If you filed the FAFSA early with estimated tax information, the aid offered in your tentative award letter may change based on your, and your parents’, actual tax return.

    The closer your estimates are to the actual amounts on the tax return, the closer the tentative award will be to the final award.

    Final Award Letter

    You’ll get an official Financial Aid Award letter that has:

    • Types of aid that make up your package
    • Estimated costs for your education
    • Estimated out-of-pocket costs
    • Financing options

Types of Funding

Types of Funding

There are many types of financial aid that students can use for higher education. Several funding options are based on the results of your FAFSA.

Other types of funding, such as private or school-based scholarships, or alternative loans, are sources you apply for separately.

We’ve included all the types of aid you may be eligible for, and how to apply for each one.

Scholarships & Grants

Scholarships & Grants

Scholarships and grants are free money that you don’t pay back, making them a great way to help finance your education.

There are several sources of scholarship and grant money. Here’s what’s available to you and how you apply for each type.

  • Lesley Merit Scholarships for First-Year Students

    You’re considered for a Lesley University merit scholarship when you apply as a first-year freshman. Merit scholarships are based on your academic record, and, for art & design programs, your portfolio.

    We’ll consider you for the one merit scholarship that best matches your strengths. You’ll find out which award you got in your Lesley acceptance letter.

    Enroll full-time, in a program taught on campus, and the scholarship will be applied to your tuition. It’s that easy.

    Your scholarship can be renewed each year, so long as you take at least 12 credits/semester (full-time status) and you make satisfactory academic progress.

    What about SAT or ACT tests?

    International students, and all students applying for a program within our College of Art and Design, do not need to submit SAT or ACT test results. For these students, these tests are optional. However, students applying to an undergraduate program within our College of Liberal Arts & Sciences will need to submit their SAT or ACT scores.

    Presidential Scholarship
    $10,500/year

    Minimum Criteria

    College of Liberal Arts & Sciences Programs:

    • GPA 3.5 OR one of these: SAT Composite 1380 OR ACT Composite 29


    College of Art & Design Programs:

    • GPA 3.5
    • Strong portfolio


    For both schools, maintain a cumulative GPA of 3.0 to renew the scholarship.

    Dean’s Scholarship
    $9,500/year

    Minimum Criteria

    College of Liberal Arts & Sciences Programs:

    • GPA 3.0 PLUS one of these: SAT Composite 900 OR ACT Composite 17
    • OR...
    • SAT Composite 1190 OR ACT Composite 24
       

    College of Art & Design Programs:

    • GPA 3.0
    • Strong portfolio


    For both schools, maintain a cumulative GPA of 3.0 to renew the scholarship.

    Lesley Scholarship
    $8,500/year

    Minimum Criteria

    College of Liberal Arts & Sciences Programs:

    • GPA 2.7 PLUS one of these: SAT Composite 900 OR ACT Composite 17
    • OR...
    • SAT Composite 1050 OR ACT Composite 20


    College of Art & Design Programs:

    • GPA 2.7
    • Strong portfolio


    Exceptions

    Lesley undergraduate merit scholarships are not available to students who:

    • Already have a bachelor’s degree
    • Are enrolling in a bachelor’s degree completion program through our Adult Learning Division
    • Are participating in the Tuition Exchange Program (TE) or the Council of Independent Colleges Program (CIC), and have been awarded a tuition scholarships through that program
  • Other Lesley Scholarships for First-Year Students

    All first-year students are also considered for these scholarships. If you got one of these awards, it would be in addition to your guaranteed merit scholarship.

    All Majors

    Edith Wolfard Scholarship
    $1,000

    Students with a strong academic record may receive this scholarship in honor of Lesley’s founder. Renewable each year.

    Art & Design Majors

    Pre-College Scholarships
    $1,000

    If you attended our Young Artists Residency summer program, or took 3 or more of our pre-college art classes for high school students, you’ll receive this one-time award.

    Robert Kaufman Scholarship
    $2,000

    For applicants to select programs in the College of Art and Design with a strong academic record and exceptional portfolio. Renewable each year.

    College of Liberal Arts & Sciences Majors

    Linda Dacey Scholarship
    $2,000

    For applicants with a strong academic record to select programs in the College of Liberal Arts and Sciences.

  • Lesley Merit Scholarships for Transfer Students

    You’re guaranteed to get one of these undergraduate transfer merit scholarships if you meet the criteria. You’ll find out which award you got in your Lesley acceptance letter.

    We’ll be looking at your academic performance from your current or previous college(s). If you’re applying to a BFA program, we’ll also consider the quality of your portfolio.

    Enroll full-time in a campus-based program, and your scholarship will be applied to your tuition. And, the scholarship can be renewed each year, so long as you take at least 12 credits/semester (full-time status) and you make satisfactory academic progress.

    Phi Theta Kappa Scholarship
    $10,500/year

    Minimum Criteria

    • Member of the Phi Theta Kappa Honor Society
    • Have completed your associate’s degree

     

    Presidential Scholarship
    $10,500/Year

    Minimum Criteria

    • GPA of 3.5
    • Strong portfolio (College of Art and Design transfer applicants)

     

    Transfer Scholarship
    $9,500/year

    Minimum Criteria

    • GPA of 3.0
    • Strong portfolio (College of Art and Design transfer applicants)

     

    Lesley Scholarship
    $8,500/year

    Minimum Criteria

    GPA of 2.7

    Community College Scholarship
    $5,500

    Minimum Criteria

    • Completed your associate’s degree from any community college in the U.S.
    • GPA of 2.5


    Exceptions

    Lesley undergraduate merit scholarships are not available to students who:

    • Already have a bachelor’s degree
    • Are enrolling in a bachelor’s degree completion program through our Adult Learning Division
    • Are participating in the Tuition Exchange Program (TE) or the Council of Independent Colleges Program (CIC), and have been awarded a tuition scholarships through that program
  • Urban Scholars Initiative (USI)

    50 percent off tuition

    Lesley University has partnered with several community organizations to provide scholarships for students with financial need.

    Through the Urban Scholars Initiative, first-year and transfer undergraduate students from our partner community organizations are eligible for 50 percent off of their Lesley tuition.

    How to Apply

    Eligible high students must have participated in, and be recommended by, one of Lesley’s USI partner organizations. Submit the Free Application for Federal & Student Aid (FAFSA). Get accepted to Lesley University to receive the award.

  • Community Scholarships for First-Year Students

    There are also a few undergraduate scholarships available for students from certain communities or schools.

    Lesley Opportunity Scholarship
    $5,500/year

    For first-year students coming from public and charter schools in: Boston, Brockton, Cambridge, Chelsea, Lawrence, Lowell, Lynn, Quincy, Somerville, Springfield, and Worcester.

    Cambridge Rindge & Latin Merit Scholarship
    Full tuition/year for 4 years

    We award up to 2 of these scholarships each year.

    Minimum Criteria

    • Students must be graduating from Massachusetts Cambridge Rindge and Latin High School.
    • Applicants to Lesley's College of Liberal Arts & Sciences, or applicants to both undergraduate schools at Lesley (College of Liberal Arts & Sciences and College of Art & Design) must have a minimum 3.0 academic GPA in a strong college prep curriculum, plus one of these: SAT Composite 1190 or ACT Composite 24.
    • Applicants applying solely to Lesley's College of Art & Design must have a minimum 3.0 academic GPA in a strong college prep curriculum and an outstanding portfolio; SAT/ACT testing is optional.

     

    How to Apply

    1. The school's principal and guidance team nominate 6 students, in the form of a letter of recommendation.
       
    2. Students apply to Lesley University by February 15. The school should also send their nomination letters by this date.
       
    3. The University Scholarship Committee reviews all nominations, then selects and interviews finalists.
       
    4. We’ll notify finalists of their status after March 1.

     

    Boston Arts Academy Scholarship
    Full tuition/year for 4 years

    We award 1 of these scholarships each year.

    Minimum Criteria

    • The student must be graduating from the Boston Arts Academy’s Visual Arts program.
    • Applicants applying solely to Lesley's College of Art & Design must have a minimum 3.0 academic GPA in a strong college prep curriculum and an outstanding portfolio; SAT/ACT testing is optional.


    How to Apply

    1. Boston Arts Academy nominates up to 4 students for consideration.
       
    2. Students apply to Lesley University by February 15.
       
    3. The University Scholarship Committee reviews nominations and interviews finalists. If selected, the students present their portfolio at the interview.
       
    4. We’ll notify finalists of their status after March 1.

     

  • Donor-Funded Scholarships for Current Lesley Students

    There are more than 100 scholarships available for our current students, created with funds from generous donors.

    How to Apply

    We email all current Lesley students, at their Lesley email address, 1–2 times a year and invite them to apply. We encourage all enrolled students to apply, regardless of GPA, financial need, or area of study. Submit 1 application to be considered for several awards.

  • Federal Pell Grant
    • A need-based federal grant for first-time bachelor’s degree students.
    • The U.S. Department of Education determines the eligibility criteria.
    • Maximum amount for 2017–2018: $5,920


    How to Apply

    Fill out the FAFSA. If you’re eligible, the Federal Pell Grant will be included in your financial aid award letter.

  • State Scholarships & Grants

    Lesley University has agreements with grant agencies in MassachusettsPennsylvania, and Vermont. That means funds from those 3 states can be disbursed to our full-time undergraduate students.

    Massachusetts Grants

    Grants for Massachusetts residents.

    How to Apply

    Start by filling out the FAFSA. In addition, most of these grants (except for MassGrant) require that you also apply for them through the Massachusetts Office of Student Financial Assistance.

    Your financial aid award letter may include your eligibility for state grants or scholarships, but the state’s higher education office will notify you of your actual award.

    MassGrant

    • A need-based state grant for full-time undergraduate students.
    • To be full-time, you need to take at least 12 credits/semester.
    • Massachusetts Office of Student Financial Assistance notifies students who are eligible, and we (Lesley University) verify that eligibility.
    • We automatically apply the funds to your student account.


    Paraprofessional Teacher Preparation Grant


    Early Childhood Educators Scholarship

    Massachusetts Public Service Grant


    Non-Massachusetts State Grants

    If you live outside of Massachusetts, there may be need-based grants and scholarships available from your state of residence. If you get awarded a need-based non-Massachusetts state grant, your Lesley grant funding may be reduced.

  • Federal TEACH Grant for Education Students

    The Teacher Education Assistance for College and Higher Education (TEACH) Grant is federal money that supports students who are studying to become teachers. Specifically, it’s for educators who plan to work in a low-income school and teach a high-need subject area after graduation.

    It was created by the U.S. Department of Education to get the best teachers where they are needed most—helping our nation’s most disadvantaged students to succeed.

    Do you plan to...

    1. Become a “highly-qualified” teacher, as defined by your state?
    2. Teach full-time, in a low-income (Title I) school, for at least 4 years?
    3. Begin this teaching within 8 years of graduating from your teacher licensure program?
    4. Teach in a high-need subject area, as defined by the U.S government or state?


    If you answered yes to all 4 questions, the TEACH Grant may be right for you. Learn more on the TEACH grant website. 

    Eligibility

    1. You’re enrolled a TEACH Grant Eligible Academic Program (PDF).
    2. You’re a U.S. citizen or an eligible non-citizen.
    3. You’re in good standing with the Title IV aid programs, as reported by the National Student Loan Data System.
    4. You satisfy one of these academic qualifications:
       
      1. Have a cumulative Grade Point Average of 3.25 (on a 4.0 scale) in your most recent academic program prior to enrolling at Lesley University. And, maintain a cumulative 3.25 GPA while enrolled in a TEACH Grant eligible program at Lesley University.

        OR
         
      2. Score above 75th percentile on a national admissions test (Example: SAT/ACT for undergraduates; GRE for graduate students).

        OR
         
      3. Are a current teacher, former teacher, or a retiree in any field. Former teachers must be pursuing high-quality alternative certification in a master's degree program.

    TEACH Grant Application

    Complete this 4-step Teach Grant application process each academic year.

    1. File the Free Application for Federal Student Aid (FAFSA).
    2. Complete and submit a TEACH Grant Intent Form (PDF).
    3. Sign the U.S. Department of Education’s online TEACH Grant Agreement to Serve.
    4. Complete the U.S. Department of Education’s online TEACH Grant Counseling. Use your FSA ID to complete the counseling. It’s the same ID you used to sign the FAFSA. If you don’t have an FSA ID, or can't remember it, request one from Federal Student Aid.
  • Private Scholarships

    Private scholarships are funds you research and apply for on your own. We’ve compiled a list of places that provide scholarships for undergraduate study.

    Also, check your local high school, library, employer (yours, and your parents’), and clubs to find other funding.

    Lesley University is not responsible for the actions or claims of outside organizations.

    Start your scholarship research here.

  • Study Abroad Scholarships

     

    Going abroad? There are a few organizations that provide scholarships. Start your research with this list.

    AIFS Study Abroad
    Awards more than $800,000 in scholarships to students and institutions each year, for summer and semester programs.

    CIEE
    Offers need-based grants and merit-based scholarships for study abroad.

    Fund for Education Abroad
    Need-based funding for undergraduate students planning on studying abroad for at least 4 weeks.

    GO! Overseas Study Abroad Scholarship
    Gives away a scholarship to study or intern abroad, and a scholarship to volunteer abroad.

    Institute of International Education (IIE)
    Offers study abroad scholarships for U.S. students with financial need; has a database of funding options for international students who are interested in studying in the U.S.

    International Education Financial Aid
    A resource for financial aid, scholarships, and grants for U.S. and international students wishing to go abroad.

    International Student
    Assistance for U.S. students that want to study abroad or international students that want to study in the U.S.

     

  • Scholarships & Your Financial Aid

    You got a private scholarship to help pay for your education. Now you may be wondering how this affects your financial aid package.

    In most cases, private scholarships are added to your existing financial aid, and don’t result in a reduction of the total aid.

    There are a few cases where we might need to make adjustments:

    Need-Based Aid

    Adjusted if the total need-based aid is more than your calculated need (which includes tuition, fees, and living expenses).

    Loans or Federal Work-Study

    Are always reduced before any adjustment to the grant portion of an award.

    Merit-Based Aid

    Adjustment required if the total award is more than the cost of tuition and fees.

Student Employment

Student Employment

Federal Work-Study

Your financial aid award letter will tell you if you’ve received Federal Work-Study funding, and the total amount for the year. This is usually no more than $1,800.  

Find a part-time Work-Study job, then earn your award through the hours you work. Most jobs are on campus in an office, but some are at off-campus locations.

Other Employment

If you don’t get Work-Study funding, you can apply for other part-time jobs on campus through our Lesley Works student employment program. Or, search for an off-campus job through our Career Resource Center.

Search Jobs

Look for Work-Study, Lesley Works, and off-campus employment.

Tuition Discounts

Tuition Discounts

There are a few ways you might be able to get a discount off of your tuition.

  • Lesley Dividend for Graduate School

    If you earn your bachelor’s degree at Lesley, you’re eligible to get 12 free credits toward your Lesley master’s degree.

    And at $625 to $1,100 credit, that’s a huge tuition savings of $7,500–$13,200.

    The award is applied to your tuition over 2 semesters. You’ll get 6 credits of free tuition in your first semester, and 6 free credits in your last semester of graduate study.

    You can even use the Dividend toward an already-discounted dual bachelor’s and master’s degree program, for an even bigger bargain.

    To apply the Dividend to your bill, you'll need to fill out this dynamic form.

  • Post-9/11 GI Bill & Yellow Ribbon Program for Veterans

    Lesley University proudly participates in the Yellow Ribbon Program, making it possible for veterans and their dependents to earn a degree for a significant discount.

    The Post-9/11 GI Bill, developed by the U.S. Department of Veterans Affairs, pays full in-state tuition and fees at public schools. For private schools like Lesley, it covers tuition and fees up to a cap each year. You may qualify for tuition benefits under the Post-9/11 GI Bill if you’ve served at least 90 days on active duty since September 11, 2001.

    The Post-9/11 GI Bill also pays a portion of veteran’s housing and books, based on the amount of credits you’re taking.

    The Yellow Ribbon Program is a provision of the Post-9/11 GI Bill. It helps close the gap between the amount the Post-9/11 GI Bill covers and the actual amount for tuition and fees. As a participating school, we’ve dedicated funds for veterans-only scholarships that Veterans Affairs matches dollar for dollar.

    You may qualify for discounted tuition through the Yellow Ribbon Program if you’ve served:

    • At least 36 months since September 11, 2001, or
    • 30 continuous days since September 11, 2001 and you were honorably discharged for a service-related injury. 

    Your dependents may be eligible for Transfer of Entitlement under the Post-9/11 GI Bill. We participate fully—there is no limit to how many Yellow Ribbon students we’ll take.

    Questions? 

    Thomas Graves, Veteran Affairs Certifying Official
    617.349.8781
    tgraves@lesley.edu

Loans

Loans

You may be eligible for a few different types of loans. Some federal and state loans are based on the result of your application for federal student aid (FAFSA), and appear on your financial aid award letter if you’re eligible.

Other government loan programs require additional steps to apply for them. And then there are private, non-government loans that you would research and apply for on your own.

Here are the different types of loans and how to apply for each one.

  • Federal Direct Loans

    Federal Direct loans are provided by the U.S. Department of Education, at a fixed interest rate, to help you pay for your undergraduate or graduate education. Because they are backed by the U.S. government, the interest rates are lower than private loans.

    How to Apply

    Fill out the FAFSA. Your financial aid award letter will indicate if you’ve received a Federal Direct loan, and how much. You'll need to accept, decline, or revise (reduce) the loan through your Lesley LOIS account.

    About Federal Direct Loans

    There are 2 types of Direct Loans you could receive—Unsubsidized and Subsidized.

    Unsubsidized Loan

    • For undergraduate and graduate students.
    • The student is responsible for the interest that accrues.
    • You can make voluntary interest payments while in school, or defer interest payments until they enter repayment.


    We recommend you pay the interest when it’s billed each quarter. Otherwise, unpaid interest will be capitalized (added to the principal balance) at the end of the grace period, making the loan more expensive.

    Subsidized Loan

    • A need-based loan for undergraduate students.
    • Interest is subsidized (paid) by U.S. government, up to a set maximum amount, while the student is in school or during grace periods.
    • Interest doesn’t accrue while the student is enrolled at least half-time (taking 6 credits/semester).


    Example: You get a $5,500 Direct Loan, and the maximum amount that can be subsidized is $3,500. That means you’d have a $3,500 subsidized loan and a $2,000 unsubsidized loan. 

    Considerations

    Limits

    There is a limit on how much you may borrow each academic year. For undergraduates, the limit is based on your dependency status and how many completed undergraduate credits are on your Lesley transcript. There is also a limit on how much federal loan funding you may borrow in total, called the “aggregate."

    Origination Fee

    The U.S Department of Education deducts this fee off the top of the loan before sending funds to Lesley University on your behalf.

    Example: For a $5,000 loan with a 1 percent origination fee ($50), you’d get $4,950 to use toward your education.

    Learn More

    Learn more about Federal Direct Loans, including annual and aggregate limits, interest rates and fees, and terms and conditions.

  • Federal Perkins Loan
    • A need-based federally subsidized loan.
    • Interest rate is fixed at 5 percent.
    • Repayment begins 9 months after you’re no longer enrolled full-time.


    How to Apply

    Fill out the FAFSA. If you’ve received a Perkins Loan in your award letter, decide then if you want to use it.

  • Massachusetts No-Interest Loan (NIL)
    • A zero-interest state-funded loan.
    • For undergraduate students who live in Massachusetts and are attending a post-secondary institution in the state.
    • Repayment begins 6 months after you graduate, leave school, or fall below half-time (taking 6 credits/semester).


    How to Apply

    Fill out the FAFSA. You’ll find out if you’ve received this loan in your financial aid award letter. Then decide if you want to use it.

  • Federal Direct Parent PLUS Loan

    This is a loan available to parents of dependent, undergraduate students. Borrow funds from the U.S. Department of Education, at a fixed interest rate, to help pay for your son’s or daughter’s college education.

    To be eligible:

    • The parent is the student's biological or adoptive parent, or custodial stepparent.
       
    • The child is a dependent as determined by the Free Application for Federal Student Aid (FAFSA)—under 24 years old, unmarried, and have no legal dependents at the time s/he fills out the FAFSA.
       
    • The student is enrolled at least half-time (taking 6 or more credits/semester).
       
    • The parent and dependent child are U.S. citizens or eligible non-citizens, and aren’t in default of any federal education loans nor owe over-payment on a federal education grant.
       
    • The parent does not have bad credit.


    How to Apply

    1. The student fill outs the Free Application for Federal Student Aid (FAFSA).
       
    2. The parent applies for the loan online, through the U.S. Department of Education.
       
    3. If you (the parent) get the loan, and you’re a first-time borrower, you’ll need to sign a Master Promissory Note (MPN) online. Use your FSA ID to complete this step.

      If you don’t have an FSA ID, or can't remember it, request one from Federal Student Aid.


    Considerations

    You can borrow up to the total cost of your child’s education, minus other financial aid she or he has received.

    Origination Fee

    The U.S. Department of Education deducts this fee from the loan before they send the funds to Lesley University on your behalf.

    Example: For a $10,000 loan with a 5 percent origination fee ($500), you’d get $9,500 to use toward your education.

    Learn More

    Learn more about the Parent PLUS Loan, including interest rates, fees, repayment, and terms and conditions.

  • Private Education Loans

    Private (alternative) education loans are monies you borrow from a private lender, not from the federal government. Private loans can cover the difference between the cost of your education and the funds you received from other sources.

    Use these resources to determine the best loan product for you or your family.

    Private Loan Options

    Several private loan products are available to students and parents; however, you should research scholarships, grants, work programs, and Federal Direct Loans before borrowing from a private lender.

    Lenders are on our Private Loan List only because they have notified Lesley University that they offer private educational loans for the current academic year.


    Research your state's lending agency, local bank, or credit union.

    If you decide to use a lender or loan product not listed on the Private Loan list, notify Lesley’s Financial Aid Office so we can certify your loan of choice.

    Considerations

    Here are some tips for when you research private education loans.

    Know Your FICO Score

    • Lenders use your FICO score to determine your credit risk.
    • The higher the FICO score, the better (lower) the interest rate you'll get on the loan.
    • Estimate your FICO score. Use the Bankrate Free FICO Score Estimator calculator.
    • Obtain your actual FICO score for a fee.
    • FICO scores are a snapshot of your credit risk, and can change.


    Improve Your FICO Score

    • Get a free credit report and check it for errors. Fix mistakes before applying for a private loan.
    • Pay bills on time, settle past due accounts, pay down debt, and reduce the percentage of your total credit card balances to below 30 percent of total available credit.
    • Don't cancel a credit card to boost your score. This can cause an immediate, short-term negative effect.
    • Keep your oldest credit cards. The longer credit history you have, the better your FICO score.


    Research Options and Rates

    • Determine the lenders you are interested in before completing your first credit application.
    • The approval process for a private loan results in a hard inquiry on your credit report.
    • Having many hard inquiries may reduce your credit score.
    • Multiple applications within 30 days will only result in 1 hard inquiry. Apply to several lenders to find the most competitive rates in this 30-day window.
    • If you apply for more than one private loan, let Lesley's Financial Aid Office (sfs@lesley.edu) know which one you want. We’ll certify the first loan application we receive, and may cancel additional requests.


    Questions to Ask About the Private Loan or Lender

    Consider these factors to determine the best private loan product for you.

    Annual Percentage Rate (APR)

    • The principal is the amount you borrowed that remains unpaid, before interest and fees.
    • The APR is the annual cost of your loan, including the effect of any fees or charges in addition to interest.
    • Interest rates may be fixed or variable. A fixed interest rate remains the same throughout the entire loan term. Variable (adjustable) interest rates are subject to change. The rates could increase during the life of the loan, making the loan more expensive.
    • Find out if the lender uses PRIME or LIBOR to determine their interest rates. Lenders using LIBOR typically use the 3-month rate.
    • Learn more about how PRIME and LIBOR rates work.


    Interest Capitalization

    When borrowing money, you’ll have to pay interest; it's just a matter of when.

    • Find out when the interest on your loan is capitalized, meaning, when it is added to the principal balance. Ask if this changes during repayment.
    • If you defer paying your loan while in school, you are deferring the principal, interest, and fees. Interest still accrues on the loan while you are in school, and then is added to the principal for you to pay back at the Annual Percentage Rate (APR). This means you will be paying interest on the interest you "borrowed."
    • Making interest-only payments on an alternative loan while in school will drastically reduce the total cost of the loan.


    Calculate the Total Cost of the Loan

    Ask the lender about interest rates and fees, and other questions such as:

    • Are there introductory rates that increase over time?
    • Is there an origination fee deducted from the loan before the funds are sent to Lesley University?
    • Are there any fees added after the entire loan has been disbursed?


    Loan Limits

    Does the loan have an annual or aggregate limit? Ask yourself if you can afford to borrow within the limits.

    Repayment

    • Does repayment begin immediately or after you graduate or leave school?
    • How long is the repayment period? Are there choices, such as 10 years versus 20 years?
    • Are you rewarded for making on-time payments? Or, are there penalties for repaying the loan early?


    Lender Stability

    • How long has the organization been providing student loans?
    • Are they offering alternative loans through the next 4 years?
    • Does the lender sell its loans? If so, how often? To whom? And with what consequences?


    Customer Service

    What services does the lender offer to borrowers?

  • Federal Student Loan Repayment

    If you borrowed funds from the U.S. government for your education, there are a few ways you can pay back that loan. Federal student loans are managed by a loan servicer. Your loan servicer will help you navigate your repayment options.

    Income-Driven Repayment Plans

    Income-driven repayment plans are meant to be affordable. Your monthly payments are 10 or 15 percent of your discretionary income. This figure is calculated based on your total income, household size, and U.S. poverty guidelines.

    Each year, you’ll need to send income and household size information to your loan servicer so you can remain on this type of repayment plan.

    If your income decreases or your household size increases at any time, contact your loan servicer to get a new monthly payment amount. You don’t have to wait for the annual review.

    Learn more about income-driven repayment plans.

    Other Repayment Plans

    There are also a few repayment options—Standard, Graduated, and Extended— that aren’t based on your income, and are available to all borrowers.

    Learn more about your other options.

    Next Steps

    Work with your loan servicer to see if you qualify for an income-driven repayment plan, or to figure out which plan is best for your situation.

    Check the National Student Loan Data System for contact information for all federal loan servicers.

     

  • Federal Student Loan Forgiveness

    If you borrow funds from the U.S. government for your education, you may be eligible for a loan forgiveness program. This means you won’t have to pay back all of the money you borrowed.

    There are loan forgiveness programs for teachers, for public service workers, and individuals on an income-driven repayment plan.

    Teacher Loan Forgiveness

    Receive forgiveness for up to $17,500 of your Federal Subsidized or Unsubsidized student loans.

    You may be eligible if you:

    • Teach full-time; and
    • Have taught for 5 full and consecutive years in schools or educational agencies that serve low-income families.

    Learn more about Teacher Loan Forgiveness.

    Public Service Loan Forgiveness

    Receive forgiveness for the balance due on your Federal Direct student loans.

    You may be eligible if:

    • You’ve made 120 qualifying payments (10 years) on loans under certain repayment plans; and
    • You made the payments while employed full-time by a qualifying public service employer, such as a government agency or not-for-profit organization.

    The repayment plans that qualify are income-driven­, meaning your monthly payment is based on your income, household size, and the federal poverty guidelines for your area.

    Learn more about Public Service Loan Forgiveness.

    Income-Driven Repayment Loan Forgiveness

    If you don’t qualify for public service loan forgiveness, you may have another option.

    You could have your federal student loan balances forgiven if:

    • You’re on a repayment plan based on your income and household size; and
    • You’ve made payments on time for 20 or 25 years.

    Whether you qualify after 20 or 25 years depends on when you became a first-time borrower. You may need to pay income tax on the amount forgiven.

    Learn more about Income-Driven Repayment.

    Considerations

    You may qualify for the Teacher Loan Forgiveness and the Public Service Loan Forgiveness.

    However, the 5 years of employment for the Teacher Loan Forgiveness does not count toward the 10 years of employment for Public Service program.

    Next Steps

    Work with your loan servicer to see if you’re eligible for a loan forgiveness program.

    Check the National Student Loan Data System for contact information for all federal loan servicers.

  • Lender Code of Conduct

    Lesley University does not recommend any particular loan product.

    Review our Lender Code of Conduct for legal information about lending relationships.

Payment Plans

Payment Plans

Divide your tuition and fees into smaller, monthly payments through a flexible, interest-free payment plan.

You can set up a payment plan with our Student Accounts Office. Learn more about payment plans.

Enrollment & Next Steps

Enrollment & Next Steps

Secure your funding and pay your bill.

You’ve applied for federal and state aid, scholarships, and private funding. And you have an idea of your financial picture for the upcoming year.

If you decided to enroll at Lesley, or you are a returning student, you’ll need to complete these steps to secure your funding and to pay your bill.

  • Step 1: Accept your award, when applicable.

    Here’s what to do if you see any of these types of funding in your financial aid award letter.

    Federal Direct Loans

    Complete 3 steps so we can credit the loan to your student account.  

    1. Accept or decline the loan in full, or revise (decrease) the loan amount through your LOIS account within 30 days.

      If you revise the loan amount, click “Accept” to finish the step. We’ll notify the U.S. Department of Education so they can certify the loan. If you don’t accept the loan within 30 days, it will get canceled.
       
    2. Sign a Master Promissory Note (PIN) electronically. This is an agreement between you and the U.S. government. It states you understand your responsibilities as Federal Direct Loan borrower. Once you sign, it’s good for 10 years.
       
    3. Complete the U.S. Department of Education’s online Direct Loan Entrance Counseling. This takes 20–30 minutes. 


    Federal Perkins Loan or Massachusetts No Interest Loan

    If you have received either of these loans, we’ll email you a promissory note to sign and information about required online loan counseling. Complete the steps by the deadline to secure the funds.

    Scholarships & Grants

    No need to do anything. We’ll apply these funds toward your tuition and fees. 

    Federal Work-Study

    No need to do anything. These funds will be paid to you for the hours you work in a Federal Work-Study job.

  • Step 2: Report private or other funding you've received.

    Send notification letters from private scholarships to Lesley's Financial Aid Office.

    Let us know if you have tuition reimbursement, alternative (non-government) loans, or state grant money from a state other than Massachusetts.

    Your total resources can’t exceed the budgeted costs for your education, including tuition, fees, and living expenses. Financial aid from outside resources can be used to reduce your need for federal assistance or loans.

  • Step 3: Register for classes.

    Register for classes and independent studies before the end of the add/drop period. This includes submitting consortium agreements (PDF) if you’re taking classes outside of Lesley.

    Changes in your enrollment can affect the amount of aid you receive, and when you receive it. If your plans change, notify Lesley's Financial Aid Office immediately by sending an email to sfs@lesley.edu.

    We’ll review your registered credits to confirm your enrollment. We’ll email your Lesley address if your financial aid is at risk.

    Online and Bachelor’s Degree Completion Students

    Use this online form to submit your enrollment changes.

  • Step 4: Get your bill, and finalize your financial plan.

    If you’ll have a balance due after your financial aid is applied to your tuition, fees, and other charges, you’ll need to find a way to pay it.

    For example, set up a payment plan or get a loan.

    Contact our Financial Aid Office (sfs@lesley.edu) for support as you finalize your financial plan.

    Set up a payment plan, or pay your bill.

  • Step 5: We credit the funds to your student account.

    This process is called “disbursement.” We’ll disburse your financial aid funds once:

    • We’ve confirmed your registration
    • You’ve begun classes, and
    • You’ve completed the steps for accepting certain awards


    When will my financial aid be applied to my bill?

    The date you get your funding depends on your program.

    Disbursement dates for the 2017–2018 year.

    If you’re awarded aid after your disbursement date has passed, we’ll credit the funds once you’ve completed the requirements.

    Refunds

    You may have a credit balance if your billed tuition and fees are less than the amount of financial aid applied to your student account.

    In this case, we’ll refund you within 14 days of the disbursement date. Use the refund for living expenses, transportation, or personal expenses you incur as a student.

Financial Aid Policies

Financial Aid Policies

Lesley University is required to follow all federal and state regulations.

Review the 3 Financial Aid policies that could affect your ability to keep your federal and state financial aid while studying at Lesley.

Net Price Calculator

Net Price Calculator

If you’re considering Lesley University, use our Net Price Calculator to get an early estimate of your total annual cost and potential Financial Aid, including scholarships, loans, and other kinds of funding.

The results do not represent any guarantee of cost or your actual financial aid award, but it is a great place to start. Lesley’s Financial Aid Office determines your actual financial aid eligibility, once you submit your official application for federal student aid (FAFSA).

Current students and prospective transfer students should contact our Financial Aid Office at sfs@lesley.edu for information on financial aid instead of using this calculator.

Start the Net Price Calculator.

Contact Student & Financial Services

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