Financial Aid

Because Lesley's goal is to make enrollment possible for all accepted students, we encourage every applicant to apply for financial aid. Currently, over 80 percent of all Lesley College students receive aid each year. Students are encouraged to begin the financial aid application process when they submit their admissions application. All admissions decisions are "need blind," made without consideration as to whether a student is applying for financial assistance. You will not learn of your award until after your acceptance for admission has been granted.

Awards are made to a student in the form of grant aid, self-help aid, and in some cases, merit scholarships. Grant aid does not need to be repaid. The source of these funds is Lesley University, and the state and/or federal governments. Self-help aid combines loans and work, which the student must earn (work) or repay (loans). All students are considered and awarded self-help aid first. Students are then considered for grant aid based upon remaining need, availability of funds, and eligibility for the funds.

How to Apply for Financial Aid

The following materials will be required to determine your eligibility for financial aid:

The Free Application for Federal Student Aid (FAFSA) is required of all applicants for financial aid. It may be completed on-line at www.fafsa.ed.gov or submitted directly to a federal processing center. You must indicate "Lesley University, 29 Everett Street, Cambridge, MA" and the Title IV School Code "002160" as a recipient of the form. Please be sure to complete the entire application. A Student Aid Report (SAR) will be sent to you as a result of filing the FAFSA. Lesley will receive this information electronically.

1. The Lesley Financial Aid Application (included in the application packet) must be completed by all students applying for financial aid and returned to the Financial Aid Office.
   
   Lesley Financial Aid Application (for the 2008 - 2009 academic year) [pdf]
2. Federal Tax Forms (generally your most recent tax return) are required for income verification. Students must submit signed copies of their tax information to the Financial Aid Office. Dependent students must provide signed copies of their parent(s) federal tax returns and married students must provide their spouse's tax form if a joint return was not filed. If you or your parent(s) are the recipients of any untaxed income, you must provide documentation of the untaxed income and benefits.
3. Acceptance - You must be formally admitted into your degree program before your application for financial aid will be reviewed.

Lesley University Aid Programs

When students apply for assistance, they are reviewed for any and all types of federal, state and institutional aid programs for which they may qualify. A financial aid package is designed for each student. The assistance awarded may be a combination of loans, grants/scholarships and/or student employment. All financial aid is to be used to help the student defray the costs of tuition/fees, room and board, and other educationally related expenses incurred during the academic year. In order to receive financial aid, a student must intend to be registered at least half time (6 credits) per semester. The only exception is the Federal Pell Grant, which offers limited grant money to students enrolled less than half time.

Most students who qualify for some form of need-based aid are first awarded a full Federal Stafford Loan. If additional eligibility remains, and funds are available, the student will then be awarded grant and/or employment. The various programs are described below in the order of grants and scholarships, work study, and loans.

Please note: In addition to the programs listed below, Lesley College also offers a number of non-need based merit scholarships. These scholarships are awarded directly by the admissions office, and more information can be found at http://www.lesley.edu/lc/merit.html.

Grants and Scholarships

These awards are grant aid made to students who demonstrate financial need, apply by established priority dates, and meet the eligibility criteria set forth in each program. Grant aid does not have to be repaid. These programs include:

Federal Pell Grants

Federal grant aid for first bachelor's degree students who demonstrate a very high level of need. Eligibility is determined by criteria established by the US Department of Education. The amount of the grant is also based on the student's level of need and the number of credits for which the student will register.

Federal Supplemental Educational Opportunity Grants (FSEOG)

This federal program provides grant assistance to first bachelor's degree students with exceptional financial need. At Lesley College, priority for receiving FSEOG is given first to Federal Pell Grant eligible students, and then to students who demonstrate exceptional financial need.

Massachusetts Bonus Grants

Funds for students who in addition to meeting need-based criteria set forth by the Commonwealth of Massachusetts must have completed 24 credits toward their undergraduate degree and have a cumulative grade point average of at least 3.0. State Scholarships.

State Scholarships

These scholarships are awarded directly by a state to first bachelor's degree students. Students must be full-time (registered for a minimum of 12 credits per semester) in order to receive their State Scholarship. Although Lesley anticipates state scholarship eligibility on the student's award letter, the student also will be notified of eligibility directly by the state. To apply for a state scholarship in Massachusetts and most other states, the student completes a FAFSA and requests that it be released to his/her state.

Gilbert Grants

These are funds allocated by the Commonwealth of Massachusetts to Lesley College for distribution to eligible full-time bachelor's degree students who are permanent residents of Massachusetts.

Lesley College Scholarships and Grants

When institutional scholarships and grants are offered to Lesley students, they are awarded from a variety of sources and donors.

Lesley Dividend

The Lesley Dividend provides qualified Lesley College students up to one semester (12 credits) of graduate study in Lesley University Masters programs. Students must have an overall cumulative grade point average of 3.6 when they complete their undergraduate studies and they must be going directly from the undergraduate studies to an on campus Master's program. Further details of the Lesley Dividend are available from the Lesley College Dean's Office or the Lesley College Office of Admissions.

Employment

Employment programs offer students the opportunity to earn part of their college expenses through part-time employment.

Federal Work Study Program (FWSP)

This program provides part-time employment on campus or at nearby off-campus sites for eligible students. Students are given the opportunity to choose jobs which meet their interests, relate to their course of study, and fit in with available free time. Earnings through FWSP are taxable income.

Lesley Works Program

Students who have not applied for aid or who did not receive Federal Work Study are still eligible to obtain on-campus employment at Lesley College. All on-campus student employment is posted by the Office of Financial Aid where students may obtain listings of available jobs. Students may also wish to contact the Career Resource Center where a listing of off-campus employment opportunities can be found.

Loans

These government-regulated programs offer eligible students/parents low-interest loans to be applied to the costs of their college education. In accepting a loan, a student/parent assumes the responsibility to repay the loan under its specific terms and conditions.

Federal Subsidized Stafford Loan

This federally subsidized loan (the government pays interest while a student is enrolled at least half time) is available to eligible aid applicants. Interest for new borrowers is currently fixed at 6.80%. Bachelor degree candidates may qualify for $2625 to $5500 per year depending upon their year in school. Interest and principal payments begin six months after a student graduates or ceases to be enrolled at least half-time (6 credits per semester). All students are offered the Federal Stafford Loan as a primary portion of their financial aid package.

Federal Unsubsidized Stafford Loan

This unsubsidized loan (student is responsible for the interest while enrolled) is available to applicants who are not eligible for the Subsidized Stafford Loan. Interest will accrue while the student is in school, and may be paid during the student's enrollment or added to the principal when repayment begins. New applicants can borrow at a fixed rate of 6.80%. Principal payments begin six months after a student graduates or ceases to be enrolled at least half-time (6 credits per semester).

Federal Perkins Loan

This low-interest federal program is administered by Lesley University. Since funds are very limited, preference in awarding Federal Perkins Loans is given to students who demonstrate a high level of financial need. Repayment of this loan begins 9 months after the borrower ceases to be at least a half-time student. The interest rate during repayment is 5%. Under certain conditions, the program allows for cancellation and/or deferment of the amounts borrowed.

Massachusetts No-Interest Loan

This loan program is offered through Lesley University to bachelor's degree students from the Commonwealth. Recipients must meet eligibility requirements established by the Commonwealth and be residents of Massachusetts. No interest is accrued or charged on the principal of this loan which enters into repayment six months after the student graduates or drops below half-time attendance.

Federal Parent Loan for Undergraduate Students (PLUS)

The Federal PLUS Loan is a federally guaranteed loan available to parents of dependent undergraduate students. Eligibility is based on credit worthiness. The interest rate on the Federal PLUS Loan is variable not to exceed 9%. The rate will be set every July 1st, for the year. Parents may borrow up to the cost of education minus other financial aid. Repayment of the Federal PLUS loan begins 30-45 days after full disbursement of the loan proceeds. The Federal PLUS application is obtained from the bank and is processed through the Financial Aid Office.

Additional Sources of Aid

The Office of Financial Aid can assist students who do not receive enough aid through a variety of "non-need-based" resources including loans, monthly payment plans, and/or employment. You may contact Financial Aid at (617) 349-8658 for more information.

Students may research private grants/scholarships at the Higher Education Center at the Boston Public Library, 666 Boylston Street, Boston, MA 02116, (800) 442-1171.

In addition, the World Wide Web can be a useful tool for students interested in exploring resources available from private organizations. Some web sites which may be helpful for students regarding the financing of their education are listed below:

• The College Board's Fund Finder
• Financial Aid Information Page
• Fastweb Scholarship Sources