Types of Financial Aid
The links below will take you to the appropriate section within this page.
In general, there are three major types of financial aid: grants and scholarships, loans, and employment. An award package may be a combination of any of the following aid programs. A Free Application for Federal Student Aid (FAFSA) must be completed to receive consideration for these awards. Priority is given to those students who file on or before May 1st. Student’s who have a BA or higher may only receive loans or work study.
Grant and scholarship funds carry no work or repayment requirements. They are a gift.
Loans, regardless of the lending source, are funds that must be repaid. The terms of repayment vary, as do the repayment periods. Loans provide students the opportunity to borrow against future earnings.
Employment opportunities provide a third type of resource enabling the student to use current earnings towards expenses. Employment opportunities are both need and non-need based, and are both on-campus and off-campus.
Other fanancial aid opportunities include scholarships and financial aid programs applicable to Northern Essex Community College through the Commonwealth of Massachusetts, Board of Higher Education, available at www.OSFA.mass.edu.
Grants and Scholarships
Federal Pell Grant
The Federal Pell Grant is a federal, need-based entitlement grant awarded to eligible students who are enrolled for a minimum of 3 credits who have not yet earned a baccalaureate degree. The grant is based upon an eligible expected family contribution and Pell cost of education at Northern Essex Community College.
Massachusetts Need Based Tuition Waiver Program
This is a state-funded, need-based program for undergraduate, Massachusetts residents. This waiver cannot exceed assessed tuition and fees.
Massachusetth Cash Grant Program
This is a state-funded, need-based program for undergraduate, Massachusetts residents. Awards cannot exceed assessed tuition and fees.
Massachusetts Part-time Grant
This grant is awarded to eligible students, who are Massachusetts residents, and enrolled in at least 6 credits but less than 12 credits in an undergraduate degree program.
Federal Supplementary Educational Opportunity Grant (SEOG)
This federal grant is awarded to undergraduate students who have demonstrated exceptional financial need.
Return to topLoans
Federal Stafford Loan Program
You can receive an Unsubsidized Stafford Loan regardless of financial need. To receive a Subsidized Stafford Loan, you must demonstrate need. The government pays the interest while you are in school and during deferment on subsidized loans only. Students must be enrolled at least half-time. Interest starts accruing from the day the loan is disbursed until it is paid in full. Loan limits are subject to cost of attendance. You may pay the interest while in school or you may capitalize it.
Federal Parent Loan for Undergraduate Study (PLUS)
This loan is offered to parents of undergraduate students through our preferred lender list at an annual variable percentage rate. Parents may borrow up to the cost of education. Repayment begins 45 days after the loan is received.
Return to topEmployment Opportunities
Federal Work-Study
This federally and institutionally funded employment program provides jobs for eligible undergraduate students who need financial assistance. Students work on-campus and off-campus and get paid for actual hours worked. All awards are based upon need.
Return to topOther Types of Financial Aid
Also visit the scholarship page for more scholarship opportunities that may not require the completion of the FAFSA form.
Also visit www.OSFA.mass.edu for other financial aid programs applicable to Northern Essex Community College through the Commonwealth of Massachusetts, Board of Higher Education, incuding:
- Massachusetts National Guard Educational Assistance Program
- Stanley Koplik Certificate of Mastery Tuition Waiver
- Native American Waiver Program
- Veterans/Military Service Tuition Exemption Program
- Foster Child Grant Program
- Senior Citizens Tuition Exemption Program
- Massachusetts Rehabilitation Tuition Waiver
- Tuition Remission Program
- State Employees (Except Higher Education)
- Higher Education Employees
- Public Service Scholarship
- DSS Foster Care Children and Adopted Children Tuition Waiver
- Commission for the Blind Tuition Waiver
- John and Abigail Adams Award
