Financial aid

In general, there are three different kinds of financial aid available to you: loans, grants, and scholarships. Many financial aid packages offer a combination of scholarship, grants, and student loans, which means that there is a reduction in the overall amount that needs to be repaid.

Loans are typically offered to students to assist in payment of the costs of education, and are usuallyissued by the government. Student loans are generally easy to qualify for and offer reasonable interest rates and manageable monthly payments after graduation. The most common and affordable loans are Stafford Loan and Perkins Loan. For information on Stafford Loans, click here: www.staffordloan.com. For information on Perkins Loans, click here: www.ed.gov/programs/fpl/index.html.

Grants are usually issued by the government and are need-based to cover the cost of education. However, there are some grants that are issued by regional/county/local government, school, and private foundations. Grants usually do not have to be paid back after graduation.

Apply to the Educational Rewards Grant Program. For more information, visit the Massachusetts Board of Higher Education Office of Student Financial Assistance.

• Merit-based is the most common type of scholarship, and is determined by students' academic, athletic, artistic, or other abilities.
• Need-based is determined by students' and families' financial situation, and may cover all or part of the tuition, room, board, or textbooks and may sometimes even cover living costs.
• Ethnicity-based is initially based on students' race, religion, or national origin. Additional factors are taken into consideration to determine the student's eligibility.

Where can I get more information on financial aid for my training and education?   

How do I know if the financial aid that I am applying to is legitimate?