Financial Aid Overview
There are some important fundamental facts about financing your student's education that will help you understand requirements, processes and procedures:
FAFSA
The very first step your student will take in applying for and receiving financial aid is to complete the FAFSA: the Free Application for Federal Student Aid. Our federal school code is 002183.
Eligibility
This is important: your student's academic progress and performance affects their financial aid. To remain eligible for financial aid, your student must maintain Satisfactory Academic Progress (SAP), which requires:
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A minimum Cumulative GPA of 2.00
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A minimum Class Completion Rate of 67%
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A Lifetime Limit of 150% of classes completed for a degree
Awards
Most new students have already received their award letters. (Encourage your student to check their BSU email account regularly: all communications from the Financial Aid Office will be sent to your student's email account.)
Types of Aid
BSU helps students pay for college by participating in a variety of federal, state, institutional and private financial aid programs. The programs are grouped by:
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Grants/Gift Aid
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Work-Study
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Loans
Grants
Grants are free funding given to eligible students to help cover the costs of college. Unlike loans, grants do not have to be repaid.
Need-Based Institutional Funding
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BSU Fee Grant, Housing Grant, Transfer Scholarship
Federal Grants
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Federal Pell Grant and Federal Supplemental Educational Opportunity Grant (FSEOG)
MA State Grant System
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Mass Grant, Adams Tuition Waiver, MA State Access Grant, BSU Tuition Waiver, MA Transfer Scholarship
Work-Study
Work-study awards are granted to students who demonstrate that they qualify for this Federal Aid Program. Students earn their work-study awards through part-time employment. Ideally, your student will find a work-study position that aligns with their major or career goals. There is a large variety of jobs on campus.
Loans
There are a variety of student loans available but be aware that loans must be repaid.
When your student receives their Financial Aid Award, they have the choice of accepting the full amount of the loans offered, declining or accepting partial subsidized/unsubsidized loans. Subsidized loans do not collect interest while your student is enrolled in school. Unsubsidized loans do have interest while your student is in school. Your student will not be required to make monthly payments while enrolled, but it is always a good idea to think about making a payment if possible. The reason Federal Direct Stafford Loans are considered financial aid is because it does not require a credit check and are offered to all students who complete the FAFSA. If your student does not want Stafford Loans, please contact the Financial Aid Office to decline this offer.
Need-Based Student Loans
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Subsidized Stafford Loans
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Non-Interest Loan through MA
Non-Need-Based Federal Loans
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Unsubsidized Loans
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Parent PLUS loans and Graduate PLUS loans
Check out options for Private Student Loans here.
Learn More
The Office of Financial Aid Website