Financial Aid

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Throughout the academic year – and in the summer – there are many deadlines and responsibilities related to financial aid and paying for college. Below are the key monthly messages and milestones related to financial aid.

  • For returning students, ensure they have completed their FAFSA (FAFSA deadlines; also check individual schools), any other applicable financial aid applications and forms, and verification, if needed. Verification can be a concern or roadblock for students, so remind them that it is just a common formality and requirement.
  • Review tuition and fees bill and financial aid with students. Discuss budgeting, preparing to pay their fall bills, and managing indirect expenses like books, transportation, etc. 
  • If students’ family situations have changed and/or they need additional resources, they may appeal for more financial aid.
  • Students must make Satisfactory Academic Progress (SAP) in order to remain eligible for Financial Aid. In addition to the federal requirements, each school has a different definition of SAP – be sure to know what this is. If students don’t make SAP – either for federal aid or to remain at their college, they may need to appeal one or both and will need to do so before the fall semester begins.
  • Help students check work-study eligibility for jobs on-campus. This is available on their FAFSA Student Aid Report or listed on the aid offer from their college. Work-study jobs are preferred for students, as they have the most flexible hours and best understanding of student needs. 
  • If applicable, students should have completed their entrance counseling and master promissory note for their federal loans. 
  • Remind students that they are responsible for going to classes and passing them. Financial aid is earned, and if students don’t fulfill course requirements, they may have to pay it back. Remind students that attendance is still required in virtual or hybrid courses; not attending can negatively impact their grades and standing.
  • Remind students about add/drop deadlines to modify their class schedules, and the importance of consulting with both their academic and financial aid advisors when dropping classes. Dropping below full-time status can impact financial aid eligibility.
  • The new FAFSA for the upcoming year opens on October 1st. It is good practice for students to complete it as soon as possible, as some schools still have a “first come, first served” policy. For some students, however, if their school does not have this policy, the break between semesters may be an easier time to get it done. Whether completing the FAFSA immediately or not, make a plan for this in the fall. (FAFSA deadlines– be sure to check individual schools.)
  • Ensure students are registered and have financial aid for the Spring semester.
  • Check-in with students about withdrawal deadlines (some have been extended due to COVID) and remind them about the potential financial and academic consequences (e.g. full-time enrollment for financial aid).
  • Remind students of the importance of making SAP, and the benefits of maintaining GPAs that could qualify them for programs such as the Massachusetts’ Commonwealth Commitment.
  • Note: students may qualify for tuition free community college under MassEducate.
  • Help students prepare for their spring bill. If their spring bill is expected to be the same as their fall bill, will they be able to handle it? 
  • Continue to explore scholarships, especially if students’ bills and/or loans are unsustainable.
  • Discuss or revisit transferring, if this is a goal for students, or for financial reasons (Mass Transfer has a fall enrollment deadline in March).
  • Students should prepare to pay their spring semester bill, and have a plan for indirect expenses (books, etc.). 
  • For new students, make a final push for March FAFSA deadlines (colleges often have March priority financial aid deadlines). 
  • Many students may be required to complete verification and should provide requested documentation as quickly as possible. They should use the Data Retrieval Tool (DRT) if possible, and if not, order a free tax transcript for verification.
  • If coaches complete a FAFSA with a student whose parent(s) do not work, they are more likely to have to complete verification. As this can take time, best practice is to go ahead with verification of non-filing, rather than waiting for the school to ask.
  • Remind students that they are responsible for going to classes and passing them. Financial aid is earned, and if students don’t fulfill course requirements, they may have to pay it back. Remind students that attendance is still required in virtual or hybrid courses – not attending can negatively impact their grades and standing.
  • Remind students about add/drop deadlines to modify their class schedules, and the importance of consulting with both their academic and financial aid advisors when dropping classes. Dropping below full-time status can impact financial aid eligibility.
  • Remind students about filing taxes by April 15th.
  • Review loans with students: how much did they take out this year? Are they using them, or are they taking too much? If transferring is appealing for financial reasons, it can be wise to consider this before students take on too much debt.
  • Remind students of the importance of making SAP and the connection between grades and financial aid. How are their grades? If they’re struggling, make a plan to get back on track. 
  • Ensure students complete FAFSA renewal by May 1, Massachusetts’ priority consideration deadline, in order to qualify for MassGrant and maximum state financial aid. 
    • ★ TIP:  Even if students miss this deadline, they should still complete their FAFSA as soon as possible, in order to be eligible for Federal Pell Grants and potentially MassGrant PLUS.
  • Ensure students are registered and have financial aid for the fall semester.
  • Students should begin to firm up their housing and meal plans for the following school year and think about what their needs will be in the summer and next academic year.
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