1. The Solution Center The Financial Aid Award Package Part 2: Need-Based
Financial Aid Programs

2. Objective What you will learn?
Need-Based vs. Non-Need Based Financial Aid
Grants, Scholarships, Waivers (Need-Based)
Student Employment (Need-Based)
Student Loans (Need- Based)

3. Need-Based vs. Non-Need Based Aid
Student must have demonstrated financial need (COA-EFC = Need)
May consist of grants, scholarships, waivers, student employment and subsidized student loans
Non-Need Based Aid:
Does not require a student to have demonstrated financial need
May consist of scholarships, waivers, and unsubsidized loans
These awards are added to the award package after student is considered for all other types of aid

4. Grants, Scholarships, Waivers (Need-Based)
Pell Grant
SEOG
TEACH Grant
Mass Grant
Mass PT Grant
DHE Grant
DHE Tuition Waiver
UML Need-Based Grant
UML Scholarship

5. PELL GRANT (Need-Based)
What is the Pell Grant:
Federally funded
Awarded by the US Dept of Ed
Free money, does not have to be repaid
Usually a foundation of financial aid, and often determines your eligibility for other federal and state grant programs
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
2014/2015, EFC less than 5,158
Awarded to students pursuing their first undergraduate degree
Limited to 12 full time semesters, or the equivalent

6. PELL GRANT (Need-Based) (cont.)
Award Amount:
Federal Pell Chart issued annually
Award values often change from year to year
2014/2015, awards range from $605-$5730
Award Amount Depends On:
Expected Family Contribution (EFC)
Cost of attendance (COA)
Enrollment Status
Note: You may not receive Federal Pell Grant funds from more than one school at a time

7. Federal Supplemental Educational Opportunity Grant (FSEOG)
What is the FSEOG:
Federally funded
Gift Aid, does not need to be repaid
Awarded by the University
University receives a limited allocation for this program, thus not all students who meet eligibility criteria will be awarded the FSEOG
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Must be Pell Eligible
Awarded to students with exceptional need
Award Amount:
Awards range from $200- $4,000
Awards are based on availability of funds

8. Teacher Education Assistance for College and Higher Education (TEACH) Grant
What is the TEACH Grant:
Federal grant to students enrolled in coursework required for a career in teaching
IMPORTANT: Different from other federal student grants because it requires the student to take certain kinds of classes, and then perform specific employment post graduation to retain the grant
Student must complete online TEACH grant counseling, AND sign a “TEACH Grant Agreement to Serve” agreeing to teach:
In a high-need field
At an elementary school, secondary school, or educational service agency that serves students from low-income families
For at least four complete academic years within eight years after completing the course of study for which the student received the grant
IMPORTANT: If student does not complete service obligation, all TEACH Grant funds received will be converted to a Direct Unsubsidized Loan. Student must then repay loan, with interest charged from the date the TEACH Grant was disbursed.

9. Teacher Education Assistance for College and Higher Education (TEACH) Grant
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Undergraduate/Graduate student in an educator licensure program
Enrolled in a TEACH-Grant-eligible program (See for specific details)
Maintain 3.25 GPA
Award Amount:
The TEACH Grant Program provides grants of up to $4,000 a year

10. Massachusetts Grant (MASSGrant)
What is the MASSGrant Program:
State funded
Gift Aid, does not need to be repaid
Awarded by Massachusetts Office of Student Financial Assistance (OSFA)
Provides need-based financial assistance to undergraduate students who are permanent residents of Massachusetts
Eligibility Requirements:
Must file the FAFSA by May 1st
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Must be Pell Eligible
Must be a legal resident of MA (parent must also be MA residents)
Be enrolled full time (at least 12 credits) in a degree seeking program
Student must be pursuing their first undergraduate degree
Demonstrate financial aid need

11. Massachusetts Grant (MASSGrant)
Award Amount:
Award amounts vary from $400 - $1500 depending on the student’s EFC
OSFA sends notification directly to student
Additional Information:
The Commonwealth of Massachusetts has reciprocity agreements with the following states:
New Hampshire
Maine
Connecticut
Vermont
Rhode Island
Pennsylvania
District of Columbia
A student attending a college in any of those states, may be able to transfer the MASSGrant award to that particular college

12. Massachusetts Part Time Grant
What is the Mass PT Grant:
State funded
Gift Aid, does not need to be repaid
University receives a limited allocation for this program, thus not all students who meet eligibility criteria will be awarded Mass PT Grant
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Must be Pell Eligible
Must be a legal resident of MA (parent must also be MA residents)
Be enrolled in at least 6 credits, but fewer than 12 credits per semester
Student must be pursuing their first undergraduate degree
Demonstrate financial aid need
Award Amounts:
Awards range from $200 – $750 depending on EFC

13. Department of Higher Education Need-Based Grant (DHE Grant)
What is the DHE Grant:
State Funded
Gift Aid, does not need to be repaid
Administered by school
University receives an allocation for this program
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Must be a legal resident of MA (parent must also be MA residents)
Priority is given to students enrolled full time (12+ credits)
Student must be pursuing their first undergraduate degree
Demonstrate financial aid need
Award Amounts:
Awards range from $500 - $1,400
Awards Based on availability of funding

14. Department of Higher Education Need-Based Tuition Waiver (DHE Waiver)
What is the DHE Waiver:
State Funded
Gift Aid, does not need to be repaid
Administered by school
University receives an allocation for this program
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Must be a legal resident of MA (parent must also be MA residents)
Priority is given to students enrolled full time (12+ credits)
Student must be pursuing their first undergraduate degree
Demonstrate financial aid need
Award Amounts:
Awards range from $500 - $1,400
Awards Based on availability of funding
Waivers can only be applied to state funded courses, CE courses are not covered
Waivers cannot exceed tuition charge, and student cannot receive more than one waiver unless total amount does not exceed tuition charge

15. UML Need Based Grant What is the UML Need Based Grant:
Institutionally funded
Gift Aid, does not need to be repaid
Administered by the Financial Aid Office
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Student must be pursuing their first undergraduate degree
Priority given to full time students (12+ credits)
Demonstrate financial aid need
Award Amounts:
Awards vary based on enrollment, residency, housing and availability of funding
Continuing Education courses are not covered by this program

16. UML Scholarship What is the UML Scholarship: Eligibility Requirements:
Institutionally funded
Gift Aid, does not need to be repaid
Offered to incoming students and is based on academic achievement and financial need; students are automatically considered via admission app
Administered by the Financial Aid Office
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Student must be pursuing their first undergraduate degree
Priority given to full time students (12+ credits)
Demonstrate financial aid need
Award Amounts/ Renewal:
Award amounts vary depending on financial need
Renewable if student maintains 3.0 GPA, has demonstrated need, and is full time

17. Student Employment (Need-Based)
UML Student Employment Program
Federal Work Study Program
Federal Community Service Options
America Reads Program
Jump Start Corps Program

18. UML Student Employment Program/ Federal Work Study
What is UML Student Employment and Federal Work Study:
UML Student Employment is Institutionally funded
Federal Work Study is Federally funded
Provides part time on campus employment to students with need
Allows students to earn money to pay for educational expenses
The program encourages community service work and work related to the student’s course of study
Administered by the Financial Aid Office
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Priority given to full time students (12+ credits)
Demonstrate financial aid need

19. UML Student Employment Program/ Federal Work Study
Award Amount:
Awards range from $3,000 - $4,500
Awards vary depending on financial need
Awards Based on availability of funding
Additional Award Information:
The student’s work award is not directly applied to University bill
It is highly recommended that students complete a work study Withholding Authorization form (70/30) (Ref: FA_55_FORM_SE_Withholding_70-30)
If students chooses not to participate in the withholding, any balance due on the account is subject to late fees and possible holds for non-payment

20. Student Employment/ Federal Work Study Additional Program Options
Federal Community Service Program:
Option for students awarded Student Employment or Federal Work Study awards
Work with a Community Partner Organization
Provides opportunities for students to earn money while giving back to our community
Students earn $12/hr. when choosing a Community Service Program
America Reads Program:
Option for students who choose the Community Service Program
Students are trained as reading tutors in a Lowell elementary school
Jumpstart Corp Program:
Opportunity to inspire young children to learn, serve in a local community, work on a team, and build professional skills
Corps members complete 300 hours of service during the school year
Student may be eligible for an AmeriCorps Education Award upon completion

21. Student Loans (Need-Based)
Federal Direct Subsidized Student Loan
Federal Perkins Loan

22. Federal Direct Subsidized Loan
What is the Federal Direct Subsidized Loan:
Federally Funded
Loan that must be repaid
Administered by school
Fixed low interest rate
The U.S. Department of Education pays the interest on the Loan:
while student is in school at least half-time (6+ credits)
for the first six months after a student leaves school (referred to as a grace period)
during a period of deferment (a postponement of loan payments)
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Student must be enrolled at least half time (6+ credits)
Student must be enrolled in a degree seeking program
Must be an undergraduate student
Demonstrate financial aid need

23. Federal Direct Subsidized Loan
Award Amount:
Awards range based on grade level
Award limits are as follows:
$3,500 Freshman
$4,500 Sophomore
$5,500 Junior
$5,500 Senior
First Time Borrowers of a Direct Subsidized Loan:
Apply for a PIN at for student and at least one parent
Must complete an online Entrance Counseling, a tool to ensure students understand their obligation to repay the loan
Must sign an online Master Promissory Note (MPN), agreeing to the terms of the loan
Both requirements can be completed at

24. Federal Direct Subsidized Loan
When does a student have to pay back their Subsidized Loan:
Repayment starts six months following graduation, a student’s withdrawal from school, or when a student drops to less than half-time enrollment
During this period, a student will receive repayment information from loan servicer, and will be notified when first payment is due
Can a loan be cancelled or reduced?
Yes
Before loan money is disbursed, a student may cancel all or part of the loan at any time by notifying the Financial Aid Office
After loan is disbursed, a student may cancel all or part of the loan within certain time frames

25. Federal Perkins Loan What is the Federal Perkins Loan:
Federally Funded
Loan that must be repaid
Administered by school who is the lender
Payments are made to the university’s loan servicer
5% Fixed low interest rate
Eligibility Requirements:
Must file the FAFSA
Meet the general eligibility requirements (Ref: FA_02_General_Eligibility)
Student must be enrolled at least half time (6+ credits)
Student must be enrolled in a degree seeking program
Demonstrate financial aid need

26. Federal Perkins Loan Award Amount:
Awards range from $100 - $4,000
Award based on availability of funding
Funding is very limited
First Time Borrowers of a Direct Subsidized Loan:
Must sign a Master Promissory Note (MPN), agreeing to the terms of the loan
MPN must be completed and returned to the Financial Aid Office

27. Federal Perkins Loan
When does a student have to pay back their Perkins Loan:
Repayment starts nine months following graduation, a student’s withdrawal from school, or when a student drops to less than half-time enrollment
Repayment may be extended over a ten-year period
Principal and interest are deferred while a student is enrolled at least half-time (6+ credits)
Can a loan be cancelled or reduced?
Yes
Before loan money is disbursed, a student may cancel all or part of the loan at any time by notifying the Financial Aid Office
After loan is disbursed, a student may cancel all or part of the loan within certain time frames