Types of Aid Available to Undergraduate Students

Loans

Federal Stafford Loans (Subsidized and Unsubsidized):

The federally subsidized Stafford Loan is a need-based loan program available to eligible aid applicants. The unsubsidized Stafford Loan is available to those students who do not qualify for the subsidized Stafford Loan. The interest for subsidized Stafford Loans is paid by the government while the student is enrolled on at least a half-time basis. The interest for unsubsidized loans 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. For both loan programs, the current interest rate for new borrowers is fixed at 6.8%. Bachelor's degree candidates may qualify for $3,500 to $10,500 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.

Federal Parent Loan Program (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 may be completed online at SallieMae.

Grants

On-campus undergraduate students: In order to receive your maximum eligibility for federal and 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.

Off-campus undergraduate students (cohort models): Federal and state grant eligibility for off-campus cohort students will be confirmed at the time of disbursement.  Therefore, you must register for all classes, including independent studies, and must have submitted completed consortium agreements before each semester’s disbursement date.  Disbursement dates vary by cohort. (To confirm your specific disbursement date, please contact the Office of Financial Aid.)  If your registration differs from what is listed on your award letter, grant amounts may be adjusted accordingly. 

Lesley Scholarships:

Institutional grant aid based upon financial need. Priority is given to on-campus students. Students in reduced tuition programs (off-campus) are generally not considered for Lesley scholarships. Priority application deadline is April 1.

Federal Pell Grants:

Federal grants 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.

State Scholarships (MassGrant):

Need-based state scholarships awarded to undergraduate students. The student must be enrolled full time (at least 12 credits per semester). The FAFSA must be filed by May 1st (preceding the beginning of the award year) to be considered for the MASSGrant Program.

Massachusetts Part-Time Grant:

State grant awarded to students enrolled at least half-time (at least 6 credits per semester) in an undergraduate program and who meet the criteria established by the Commonwealth of Massachusetts and institutional policy.

Massachusetts Performance Bonus Grant:

Funds for students who meet the need-based criteria set forth by the Commonwealth of Massachusetts, have completed 24 credits toward their undergraduate degree, and have a cumulative grade point average of at least 3.0.

Employment

Federal Work Study (on-campus programs only):

This federal program offers eligible students in on-campus programs the opportunity to earn part of their personal expenses through part-time, on-campus or qualifying off-campus employment. Awards traditionally do not do not exceed $2000 per year.

Click here for more detailed information on Student Employment and to browse current job postings.

Lesley Work 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. All on-campus student employment opportunities, both graduate and undergraduate, are listed through the Financial Aid Office. Students may obtain listings of available jobs at the Financial Aid Office. Students may also wish to contact the Career Resource Center for a listing of off-campus employment.

Click here for more detailed information on Student Employment and to browse current job postings.

Additional Sources of Aid

The Financial Aid Office 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. For more information, contact the Financial Aid Office at (617) 349-8581 or (800) 999-1959, ext. 8581.

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

World Wide Web: The Internet can be a useful tool for students interested in exploring resources available from private organizations. A few web sites you may find helpful:

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

Special Loan Programs

The Evalee C. Schwartz Charitable Trust for Education awards interest-free loans to undergraduate and graduate students who demonstrate exceptional academic performance and significant financial need.

Tuition Payment Plans

Lesley participates in several graduate and undergraduate payment plans that are administered through the Student Accounts Office. These plans enable students and families to pay all or part of their annual fees in monthly installments without interest charges. The only additional charge is an application fee ($55-$75). These plans may be used to supplement all other forms of financial aid such as grants, loans, and scholarships. Most plans require students to begin payment one or two months prior to the start of classes, so it is important to investigate these options early. Additional information about monthly payment options and application forms are available from the Student Accounts Office at (617) 349-8760.