Federal Financial Aid
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. Subsidized loans are only available to undergraduates with unmet need.
On unsubsidized loans, interest will accrue while the student is enrolled.
Applicants must first complete the financial aid application process. Federal law requires that all new federal Stafford loans be processed as Federal Direct Loans. You can complete loan entrance counseling, sign a Master Promissory Note (MPN) and find other information on your Direct Loan at here.
Fallen Heroes Grant
Recognizing the hardship that a family experiences upon the loss of a parent killed in the line of public service duty, the United States Department of Education has authorized schools to award Pell-eligible students a full Federal Pell Grant and possible increases to other federal need-based programs to those who qualify beginning with 2018-19. Springfield College will also base our own financial aid award on maximum eligibility to those eligible for maximum Federal Pell Grant. Children of a Police Officer or Firefighter whose death occurred in the line of duty when the student was 24 years of age or younger or enrolled in an institution of higher education are eligible to apply.
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 $5,645. Federal rules limit the lifetime eligibility for federal Pell grant and this may reduce or eliminate Pell eligibility for some students.
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.
