Financial Aid Office Fact Sheet

• Participating in the Federal Loan Programs is a student initiated process.



• Cambridge College offers scholarship and/or student loans to eligible students.
  
  
• Undergraduates may be eligible for the Federal Pell Grant. The determination will be made by the Department of Education through the FAFSA.



• Graduate students are not eligible for federal grants or Massachusetts state scholarships.



• Enrolled or prospective students with unpaid defaulted student loans are not eligible to receive Federal student aid funds.



• Prospective students interested in applying for financial aid must have an admission application on file.



• A $100 tuition deposit is due before registering for classes.



• Student loans at Cambridge College are awarded to eligible students for educational expenses. These expenses include tuition, fees, books, supplies and transportation and living expensense:such as hotel expenses due to class locations.



• A federal Stafford Loan is based on financial need as determined by the federal needs analysis calculation. The needs analysis calculation takes into account the budget of each college for educational expenses and the family contribution as determined by Department of Education's needs.


• International students are not eligible for federal student loans.





• Graduate students must be enrolled in 4 or more credits per semester to be eligible for federal financial aid.



• Undergraduate students must be enrollege in 6 or more credits per semester to be eligible for federal financial aid.



• Students must demonstrate satisfactory academic progress by completing their course work within the time frame published by the College, not to exceed 150% of the length of the program.



• You have the right to choose your lender.



• A signed Master Promissory Note and entrance counseling must be completed priorro loan funds being disbursed.



• Student loans are disbursed in multiple and equal disbursements and in accordance with semester dates, i.e. 2 semester Program = 2 disbursements, 3 or more semester Program = 3 disbursements per academic year. This is a Federal regulation.



• Students with defaulted Federal loans are not eligible for Cambridge College Scholarships.