Types of Financial Aid for Students in Threshold Programs

Financial aid opportunities for Students in Threshold Programs:

Lesley University Donor Scholarships
Private Scholarships
Need-Based Grants
Federal Student Loans
Additional Financial Options

Lesley University Donor Scholarships

Through the generosity of donors and organizations, endowed and scholarship funding is made available to the students of Lesley University. These funds are made available to students to assist them with their educational expenses and all currently enrolled Lesley University students should apply for consideration regardless of GPA, financial need, or area of study.

Private Scholarships

Students are encouraged to seek out private scholarship funding. In most cases private scholarships are added to any existing financial aid, and do not result in a reduction of existing financial aid. An adjustment in need-based aid will be required only if the total need-based aid exceeds the calculated need. Self-help aid (such as Federal Loans and Federal Work-Study) will always be reduced before any adjustment to the grant portion of an award. An adjustment in merit-based aid will be required only if total awards exceed the cost of attendance. In order to help you get started on your scholarship search, we have put together a list of specific private scholarships we believe may be of interest to Lesley University undergraduate students, as well as a list of scholarship search resources.

Need-Based Grants

Grants are free money that does not have to be repaid. In order to receive your maximum eligibility for federal and/or state grants, you must register for all classes, including independent studies, and must have submitted completed consortium agreements before the end of each semester’s add/drop period.

The Federal Pell Grant is a need-based federal grant for first-time bachelor's degree students. Eligibility is determined by criteria established by the U.S. Department of Education and the enrollment status of the student. The maximum Pell Grant amount for 2013-2014 is $5,550. You apply for the Federal Pell Grant by completing the FAFSA.

State Grants are provided by several states to assistance undergraduate students with their educational pursuits. Students must meet their state's application deadline and financial aid eligibility requirements. If you are a Massachusetts Resident, your award letter may indicate an estimate of MassGrant eligibility if Lesley University anticipates you will receive this award. Residents of Connecticut, Maine, New Hampshire, Pennsylvania, Rhode Island, and Vermont may also be eligible to apply state grants or scholarships towards a Lesley University education. Visit State Grants and Scholarships for more information and application details.

Federal Student Loans

Federal loans help students finance a college education by borrowing federally backed funds at a reasonable interest rate. Federal Direct Stafford Loans and Federal Perkins Loans do not require a credit history or credit check. These loans are in the student's name only.

Federal Direct Stafford Loans (Subsidized and Unsubsidized) There are two types of Federal Direct Stafford Loans: Subsidized and Unsubsidized. The Federal Direct Subsidized Stafford Loan is a need-based loan program available to eligible aid applicants. With this loan, the interest is subsidized by the federal government and does not accrue interest while the student is enrolled in school on at least a half-time basis. The 2013-2014 interest rate for new subsidized loan borrowers is fixed at 3.4%. The Federal Direct Unsubsidized Stafford Loan is available to those students who do not qualify for the Federal Direct Subsidized Stafford Loan. The interest for the unsubsidized loan is paid by the student while enrolled on at least a half-time basis or it may be deferred (capitalized onto the principal loan balance) until repayment begins.The 2013-2014 interest rate for new unsubsidized loan borrowers is fixed at 6.8%. There is an origination fee of 1% that is deducted from each loan type before the funds are sent to Lesley University on the student's behalf. Bachelor's degree candidates may qualify for $5,500 to $12,500 per year depending upon their grade level in school and dependency status. Repayment begins six months after the student is no longer enrolled at least half-time. Lesley University participates in the William D. Ford Direct Loan Program, which means that Federal Direct Stafford Loans are borrowed directly from the U.S. Department of Education. You apply for Federal Direct Stafford Loans by completing the FAFSA.

Additional Financial Options

When the types of financial aid discussed above do not meet the full annual expense of your Lesley University program, you may wish to pursue additional financial options such as the Interest-free Payment Plan, a Federal Parent PLUS Loan, a private alternative loan, or a combination approach. Visit Additional Financial Options for more details on each of these options.