Yes, the FAFSA needs to be completed each year. Federal student aid eligibility does not carry over from one award year to the next.
Why am I not eligible for the Pell Grant or Direct Subsidized Loans?
The Department of Education only awards the Federal Pell Grant and Direct Subsidized Loan to students pursuing degrees at the undergraduate level.
What if I didn’t include my SSN in my application for admission? Will Simmons receive my FAFSA?
If you did not include your SSN in your application for admissions, Simmons will not be able to retrieve your FAFSA from the federal database. Please contact Student Financial Services via phone at 617-521-2001 to verbally provide your SSN or securely send us a copy of your SSN card so that we can verify your information and update your account.
What is the difference between an unsubsidized loan and a subsidized loan?
Direct Subsidized Loans, also commonly known as Stafford Loans, are only available to undergraduate students who demonstrate financial need. The federal government pays the interest on the loan while the student is enrolled at least half time and during the six-month grace period. Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need. Learn more about the difference between unsubsidized and subsidized loans here.
What is the aggregate loan limit?
Your aggregate loan amount is the total you can borrow across the course of your education. The aggregate amount for graduate and professional students is $138,500, which includes all federal loans received for undergraduate study. Learn more about aggregate loan amounts here.
How do I find out if I am near my aggregate loan limit?
You can go to NSLDS.ed.gov to view your federal student loan borrowing history.
You are not required to pay on your student loans while you are in school as long as you are enrolled at least half time. At Simmons, half time for graduate students is considered 5 credits, and you cannot combine credits from other semesters in order to reach this status. You must be enrolled at least half time within in a single term. Your unsubsidized loan will go into repayment six months after you graduate, take a leave of absence, or fall below half-time status.
What criteria is used to determine eligibility?
In order to apply for federal student aid, you must:
Be a U.S. citizen or eligible noncitizen
Have a valid SSN
Be registered with Selective Service, if you’re male (must register between ages 18–25)
Be enrolled or accepted for enrollment as a regular student in an eligible degree program
Be enrolled at least half time (5 credits) in an eligible program
In order to apply for a Direct PLUS Loan, you must first complete the Free Application for Federal Student Aid (FAFSA). Once you have completed the FAFSA, you can apply for the Direct PLUS Loan by completing the credit application at studentloans.gov.
Do Direct PLUS Loans affect my aggregate loan limit?
No. Only Direct Subsidized and Direct Unsubsidized Loans are used to calculate your aggregate loan amount.
When do I have to repay my Direct PLUS Loan?
Your Direct PLUS loan will go into repayment six months after you graduate, take a leave of absence, or fall below half-time status. You are not required to pay your student loans while you are enrolled in school as long as you are enrolled at least half time.
What criteria is used to determine eligibility to receive a PLUS Loan?
You are eligible if you are a U.S. citizen, enrolled in a graduate program at least half time, and have passed a credit check. You must first exhaust the funds in a Direct Unsubsidized Loan before getting a Direct PLUS loan.
How much can I borrow with the Direct PLUS Loan?
If approved for a Direct PLUS Loan, you can borrow up to the full cost of attendance as determined by Simmons College, less any other financial aid received.
If you are eligible to apply for military education benefits, complete the education benefits application process at Vets.gov.
What else do I need in addition to my education benefits application?
The education benefits application generates a request for a Certificate of Eligibility (COE). An updated COE will be mailed to you within 6–8 weeks of successfully completing your application. Once received, you must submit the COE to Student Financial Services by mail, fax (617-521-3195), or email to firstname.lastname@example.org.
What is the national maximum per academic year for private schools?
For students with Chapter 33 benefits, the national maximum for private schools per year is $22,805.34 for 2017–18.
What is the Yellow Ribbon Program (YRP)?
The Yellow Ribbon program allows degree-granting private colleges and universities in the United States to voluntarily enter into an agreement with the VA to fund tuition expenses that exceed the annual maximum cap for the resident tuition and fees at public institutions. Veterans who are utilizing Post-9/11 GI Benefits and who are entitled to 100% of their benefit may be eligible. To participate in the Yellow Ribbon program, you must be using Post-9/11 GI benefits at 100% eligibility, not on active duty, and not a military spouse. There are a limited number of Yellow Ribbon awards available.
What is the difference between active and non-active duty?
Active duty service members serve the military full time and are not currently eligible for the YRP. Non-active duty service members are not currently serving the military in any capacity and are eligible for YPR at 100% per COE.
Am I eligible for Post-9/11 GI Bill benefits?
You may be eligible if you have at least 90 days of aggregate active duty service after September 10, 2001, and are still on active duty, or if you are an honorably discharged veteran or were discharged with a service-connected disability after 30 days. Learn more about the Post-9/11 GI Bill here.
What is the current Monthly Housing Allowance (MHA)?
Can I consolidate my graduate loans and my undergraduate loans?
A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan including both graduate and undergraduate loans. The result is a single monthly payment instead of multiple payments. Learn more about loan consolidation here.
What are the repayment plan options, and how do I select one?
Loan servicers offer a range of repayment options, including income-based repayment. Your servicer will contact you during your six-month grace period to select a repayment option. You should select your repayment option before your first payment is due.
Payment plans are available. If you are interested in setting up a payment plan for your tuition, you can sign up online with Tuition Management Systems® (TMS). If you have any questions or concerns, please feel free to contact your Student Account Representative. Their contact information is available at Student Financial Services.
You can receive up to $10,250 of the Direct Unsubsidized Loan (commonly referred to as a Stafford Loan) per semester, including the summer semester.
Does Simmons require I complete any supplemental financial aid forms?
Yes, you must complete the Student Information Form (SIF) each year in March as the new financial aid year begins in May.
What is the minimum number of credits I must take to receive federal student aid?
You must be registered for at least 5 credits per semester to be eligible to receive federal student aid.
Do I have to pay my tuition deposit before I can receive my award package?
No, you do not need to pay your deposit in order to receive your financial aid package. However, Simmons’ financial aid office will not be able to provide an award until they have received both a FAFSA and a Student Information Form for the year. Please complete these documents at the same time you complete your application for admission.
Can I use financial aid to pay my deposit?
No, you cannot use financial aid to pay your deposit.