Student Loans for Certificate Students
Earning a certificate is an investment in your future.
Student loans may be available to help eligible certificate students finance their education. Because loans must be repaid with interest, the Office of Student Financial Assistance encourages students to borrow only what they need and explore other ways to cover costs whenever possible.
Loan eligibility depends on your certificate program and enrollment status. Because of their program formats, the Communication Design Certificate and non-credit certificate programs are not eligible for federal financial aid.
Students enrolled in the Fashion Design Certificate and Furniture Design Certificate programs may qualify for federal student loans if they meet federal eligibility requirements and are enrolled in at least six credits per semester.
Students considering federal loans should understand that borrowing for a certificate program may reduce the amount available to them if they later pursue a bachelor’s degree. Federal law limits the total amount a student may borrow over the course of their undergraduate education.
Federal and Private Loan Options
Federal Direct Loans are student loans funded by the federal government and must be repaid according to the terms of the loan’s promissory note. The amount you may borrow depends on your financial need, dependency status, grade level, and previous borrowing.
Federal Direct Subsidized Stafford Loans are based on financial need. The federal government pays the interest while you are enrolled at least half time and during eligible deferment periods.
Federal Direct Unsubsidized Stafford Loans are available regardless of financial need. You are responsible for the interest that accrues while you are enrolled, during the grace period, and during deferment periods.
You may pay the interest as it accrues or allow it to be capitalized. Capitalized interest is added to the principal balance of the loan, increasing the total amount you must repay.
The aggregate Federal Direct Loan limit is:
- $31,000 for dependent undergraduate and certificate students, including no more than $23,000 in subsidized loans.
- $57,500 for independent undergraduate and certificate students, including no more than $23,000 in subsidized loans
Stafford Loan Limits by Grade Level
| Grade Level | Dependent Students | Independent Students | ||
|---|---|---|---|---|
| First Year: 0–29 credits completed | $5,500, including no more than $3,500 subsidized | $9,500, including no more than $3,500 subsidized | ||
| Second Year: 30–59 credits completed | $6,500, including no more than $4,500 subsidized | $10,500, including no more than $4,500 subsidized |
The aggregate Federal Direct Loan limit is:
- $31,000 for dependent undergraduate and certificate students, including no more than $23,000 in subsidized loans
- $57,500 for independent undergraduate and certificate students, including no more than $23,000 in subsidized loans
Stafford Loan Limits by # of Credits Completed
| Grade Level (# of Credits Completed) | Dependent 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 |
Federal Direct Loan repayment generally begins six months after you graduate, withdraw from MassArt, or drop below half-time enrollment.
To remain eligible for a Federal Direct Loan, you must:
- Be enrolled in at least six credits per semester
- Maintain satisfactory academic progress
- Continue to meet federal student aid requirements
Federal borrowing limits include loans you may have received while attending other institutions. Borrowing for a certificate program may reduce the amount available to you if you later pursue a bachelor’s degree.
A private student loan may help cover remaining educational expenses after other resources have been applied. Your maximum eligibility for a private loan is limited to your cost of attendance minus any other financial assistance you’re receiving.
Private loans are issued by banks and other lenders. Eligibility is based on creditworthiness rather than financial need, and many students are required to have a creditworthy cosigner who is a U.S. citizen or eligible permanent resident.
Before selecting a private loan, compare:
- Interest rates and annual percentage rates (APR)
- Fixed and variable interest options
- Length of repayment & repayment terms
- Minimum and maximum loan amounts
- Origination and other fees
- Cosigner requirements and release options
We recommend applying for no more than one or two private loans each academic year. If you are approved for more than one loan, contact the Office of Student Financial Assistance to confirm which loan you intend to use. Otherwise, MassArt may certify the first approved application it receives and cancel the others.
Unless you request otherwise, private loans are generally certified for disbursement across both the fall and spring semesters. You should contact the Office of Student Financial Assistance after completing your loan application if you would like a one-term disbursement.
The following lender offers alternative private loans. Please visit the website below to review the terms and eligibility requirements:
MassArt does not recommend that students borrow from any particular private lender. Carefully review and compare your options before accepting a loan.
If you have any additional questions about borrowing a private loan, please contact Office of Student Financial Assistance at (617) 879-7849.
Questions About Student Loans?
Contact the Office of Student Financial Assistance at (617) 879-7849 for help understanding loan eligibility, borrowing limits, or repayment requirements.
