Policy 8.02: Types Of Assistance

Federal Pell Grant

The Federal Pell Grant is a need-based program that is available to undergraduate students who have not obtained a Bachelor’s Degree. Federal Pell Grants do not need to be repaid. Pell Grant amounts are determined by a student’s enrollment status and Student Aid Index (SAI). The actual amount that a student receives will be determined after the add/drop period of each semester.

Federal Supplemental Opportunity Grant (FSEOG)

FSEOG is a need-based program and is awarded to students showing the greatest need based on their SAI. Those with a -1500 through zero SAI and enrolled in 12 credits or more will receive these funds first. FSEOG is a grant that does not need to be repaid. Funds are limited and are awarded on a first- come, first-served basis.

MassGrant

MassGrant is a need-based program that is awarded to eligible students by the Office of Student Financial Assistance via roster to Massachusetts residents who had their Free Application for Federal Student Aid (FAFSA) processed by May 1. Students must be enrolled full-time (at least 12 credits throughout the entire semester) to receive the MassGrant, as well as meet other eligibility requirements.

Massachusetts Part Time Grant

The Mass Part Time Grant is a need-based program awarded to Massachusetts residents enrolled in at least six, but not more than 11 credit hours. These students must also be Pell eligible. Funds are limited and are awarded on a first come, first-served basis.

MA State Free College

Free College is a grant program that is awarded to eligible Massachusetts residents 25 years of age and older which has not yet completed a college degree prior to starting their enrolled semester and had their Free Application for Federal student Aid (FAFSA) processed. Eligibility for this grant is determined annually by the office of Student Financial Assistance and allocated by the office of Financial Aid towards eligible certificate or Associate degree programs. Free college is applied to students accounts to cover the cost of tuition, fees, books & supplies, as required by designated program of study. Students must be enrolled half-time or more (6 credits or more per semester). The office of Financial Aid calculates grants after all Federal and/or state grants are applied. 

Federal Direct PLUS Loan

This credit-based loan allows parents to borrow the cost of education minus other aid. The Federal PLUS Loan is not guaranteed; it is a credit-based loan, based on your parents’ credit. Since it is not a need-based loan, families of all income levels can apply. The parent is the borrower and is responsible for repayment. Repayment begins within 60 days of disbursement and the interest rate is variable with a 10% cap. Students are required to complete and submit a FAFSA before PLUS loans are certified and processed. Students must still make satisfactory academic performance. PLUS loans are available to parents of dependent students only. Parents must apply online. If approved after a credit check is performed, the loan can be certified and processed.

Federal Direct Stafford Subsidized Loan

The Federal Stafford Loan Program is need-based and must be repaid. To be eligible, a student must be enrolled at least half-time. The Federal Government pays the interest that accrues while the student is in school and during the periods of deferment. Repayment begins six months after a student ceases to be enrolled at least halftime at an eligible institution, withdraws from school or drops below 6 credits while in attendance. The interest rate is variable and is set annually on July 1st of each year. Students must complete online Entrance Counseling and fill out a Master Promissory Note (MPN) in order to receive these funds.

Federal Direct Stafford Unsubsidized Loan

The Unsubsidized Stafford Loan differs from the Subsidized Stafford Loan in that the student is responsible to pay the interest that accrues while in school and during deferment periods. Students may request delay of repayment of the interest until entering repayment of this loan however interest will still accrue during the deferment period.

Note: Students who have received Stafford loans must complete an exit counseling session with the Financial Aid Office prior to graduation. Any student who does not complete the required exit counseling will not receive their diploma or transcript until the session is completed.

Federal Work Study Program

This federally subsidized program provides on-campus employment for students with financial need. Work study positions are located on campus in the college offices. Students must be making Satisfactory Academic Progress to be awarded work study. Positions are extremely limited. Even if you are awarded work study it does not ensure that there is a position available. Students may work during the academic year and during the summer. Hours are arranged around each student’s schedule and awards are based on the availability of funds.

Alternative Loan Sources

Students requiring additional financial assistance must seek private funding. This type of funding is usually credit based and may require the student to have a co-borrower. These types of loans may have higher interest rates and other requirements. Eligibility and repayment options are determined by the lender.

Academic Scholarships

The Academic Scholarship Program is offered during each spring semester. Funds are for use in the following fall semester. These scholarships are available for use at Quincy College only and cannot be transferred to another school. A selection committee from the Quincy College community determines the award recipients. Applications are available online.

Book Vouchers

Book vouchers are issued based on the unused portion of the financial aid that will be used to pay for tuition and fees. If the cost of books and supplies purchased at the book store exceeds the amount on the voucher, the student is responsible for the balance. If a student’s financial aid is adjusted or reduced for any reason, a student may have a balance owed as a result of their book purchase.

Summer Financial Aid Awards

Students planning to attend summer sessions should contact our office beginning in April to have their file reviewed for any financial aid that may be available to use for summer.

Disbursements

All financial aid disbursements will be posted to students’ accounts no sooner than 45 days after the start of each semester. The Business Office will generate refund checks automatically to those students with a credit balance after all charges have been applied.

For details on these and other policies, please visit the Financial Aid Office or call 617-984-1620.