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Funds That are Available for Current Students

Federal Stafford Loan Program
Students may borrow Stafford Loan money if they enrolled at least half-time, are eligible for Title IV funds, and are a U.S. citizen or eligible non-citizen.

This federally supported program offers low-interest loans through participating lenders. There are two types of Stafford Student Loans: subsidized and unsubsidized.

On subsidized loans, the government pays the interest while the student is enrolled in school. The student begins paying interest and principal six months after ceasing to be enrolled at least ½ time.

On unsubsidized loans, interest will accrue while the student is enrolled.

Springfield College provides a suggested lender list to students who may need information to assist them in choosing a Stafford loan lender. When choosing a lender, be sure to review and compare the benefits, incentives, and quality of customer service. Applicants must first complete the financial aid application process.

Federal Pell Grant
This is the basic federal grant program for undergraduates. Eligibility is determined by the College and is subject to federal regulations. The value of the grant is based on the school's cost of attendance, the calculated federal family contribution, and whether you are attending full or part-time. Award levels vary up to a maximum of $4,310.

To be eligible for a Pell Grant, you need to have a verified Free Application for Federal Student Aid (FAFSA) on file with the college before the last day of your enrollment in the academic year, but no later than June 30, 2008 (for the 2007/08 financial aid year, June 30, 2009 for the 2008/09 financial aid year).

Springfield College Grant
The Office of Financial Aid determines eligibility based on financial need. Grants vary according to the level of need, available funding, and individual circumstances. Preference in awarding is given to full-time undergraduate students who are eligible for the Pell Grant and who complete the financial aid process by the appropriate priority date.

*New students must complete the financial aid application process and be accepted by admissions by the priority date.

Priority dates for Springfield College Grant are as follows:

Returning students: May 1. Decisions mailed beginning June 15.

New students:
• July 15 for September admission. Decisions mailed beginning August 1.
  
• November 15 for January admission. Decisions mailed beginning December 1.
  
• March 15 for May admission. Decisions mailed beginning April 1.
  
  

Federal Supplemental Educational Opportunity Grants
These federal grants are administered by the College and awarded to high-need, undergraduate students. Awards vary depending on the student's need and the level of federal funding the College receives. Students must be eligible for the Federal Pell Grant to be considered for the Federal Supplemental Educational Opportunity Grant.

State Grant Programs

General Scholarships
These programs vary from state to state. Eligibility is determined by the designated state agency. All undergraduate financial aid applicants are expected to apply to the home state program. The following states have programs to assist students who are attending Springfield College: California, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, Pennsylvania, Rhode Island, and Vermont. Graduate students are usually not eligible for these programs. The Free Application for Federal Student Aid (FAFSA) is the application for state programs.

The Massachusetts Part-Time Grant Program
This program is open to part-time degree candidates from the Boston and Springfield campuses who are eligible for a Federal Pell Grant. Awards range from $200 to $1,450 per year. Awards are determined by the Springfield College Office of Financial Aid subject to OSFA regulations and funding. No special application is required for this program.