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Costs & Aid → For Certificate Students
Types of Aid
Navigate the pathways to financial aid for certificate programs.
On your journey to gaining a degree or a certificate, finances may be a challenge. Our Office of Student Financial Assistance has compiled a list of financial aid options available for certificate students, below.
Aid Available to Certificate Students
The Office of Student Financial Assistance at MassArt highly recommends students in certificate programs not borrow loans, if at all possible. Changes in federal law regarding student loans will severely limit a student’s ability to borrow federal loans, should they wish to get a bachelor’s degree at a later date.
Student Loans
- Student loans are aid that must be repaid as described in each loan’s Promissory Note.
- The Federal Direct Subsidized Stafford Loan is based on financial need. The federal government pays the interest on a subsidized loan while the student is enrolled in school for at least six credits per semester, and during authorized deferment periods.
- The Federal Direct Unsubsidized Stafford Loan is provided regardless of financial need. The student is responsible for all interest accruing while they are enrolled in school, during grace periods, and during authorized deferment periods.
- You may either pay the interest or capitalize the interest on an Unsubsidized Stafford Loan. Capitalization means the unpaid interest will be added to the principal balance of the loan at the beginning of the repayment period.
The aggregate Stafford Loan limit for a dependent student is $31,000 ($23,000 of which may be subsidized). The aggregate Stafford Loan limit for an independent student is $57,500 ($23,000 of which may be subsidized).
| Grade Level
# of Credits Completed |
Dependant Student Combined Subsidized and Unsubsidized | Independent Student Combined Subsidized and Unsubsidized |
| First Year
0-29 Credits Completed |
$5,500
no more than $3,500 may be subsidized |
$9,500
no more than $3,500 may be subsidized |
| Second Year
30-59 Credits Completed |
$6,500
no more than $4,500 may be subsidized |
$10,500
no more than $4,500 may be subsidized |
The aggregate Stafford Loan limit for a dependent student is $31,000 ($23,000 of which may be subsidized). The aggregate Stafford Loan limit for an independent student is $57,500 ($23,000 of which may be subsidized).
| Grade Level
# of Credits Completed |
Dependant Student Combined Subsidized and Unsubsidized | Independent Student Combined Subsidized and Unsubsidized |
| First Year
0-29 Credits Completed |
$5,500
no more than $3,500 may be subsidized |
$9,500
no more than $3,500 may be subsidized |
| Second Year
30-59 Credits Completed |
$6,500
no more than $4,500 may be subsidized |
$10,500
no more than $4,500 may be subsidized |
Repayment begins six months after you graduate, withdraw from the college, or drops to less than half-time enrollment. In order to receive a Stafford Loan, you must be enrolled for at least six credits per semester and must be maintaining satisfactory academic progress.
| Grade Level (# of Credits Completed) | Dependant Student (Combined Subsidized and Unsubsidized) | Independent Student (Combined Subsidized and Unsubsidized) |
|---|---|---|
| First Year (0-29 Credits Completed) | $5,500 no more than $3,500 may be subsidized | $9,500 no more than $3,500 may be subsidized |
| Second Year (30-59 Credits Completed) | $6,500 no more than $4,500 may be subsidized | $10,500 no more than $4,500 may be subsidized |
| Third Year (60-89 Credits Completed) | $7,500 no more than $5,500 may be subsidized | $12,500 no more than $5,500 may be subsidized |
| Fourth Year and Beyond (90 or More Credits) | $7,500 no more than $5,500 may be subsidized | $12,500 no more than $5,500 may be subsidized |
- If the aid you’ve accepted does not cover the total cost of your education, then a private student loan may help. Your maximum eligibility for an alternative loan is your Cost of Attendance minus any other aid you’re receiving.
- Alternative loans are not based on need but on creditworthiness. Therefore, borrowers are required to have a creditworthy co-signer who is a U.S. citizen or a non-citizen permanent resident.
- To determine which loan best meets their needs, we encourage students to carefully review factors like interest rates, APR (Annual Percentage Rate), the length of repayment, minimum and maximum loan limits, and fees.
- We recommend that students apply for only one or two alternative loans each year. If you apply and are approved for more than one alternative loan, please let our office know which one you wish to borrow from. Otherwise, we will certify the first application we receive, and cancel any others.
- Student Financial Assistance will certify all loans to disburse for both the fall and spring semesters unless otherwise notified by the student. Students should notify the office if they would like a one-term disbursement after they have completed the loan application process.
Currently, there are only two private loan lenders for students in a certificate program. Please visit their websites to read about the terms of the following Alternative Loan programs:
If you have any additional questions about borrowing a private loan, please call the Office of Student Financial Assistance at 617.879.7849.
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