Financial Aid

The U.S. Department of Education or Berklee may select certain FAFSA records for a process called verification. If your FAFSA record is selected, there are additional financial aid requirements necessary to verify the accuracy of the FAFSA information and confirm your financial aid eligibility. These requirements typically include tax and wage information, but other documents might be requested by our office to complete verification.

It is important to provide any requested documents as quickly as possible to ensure the timely processing of your aid.

Please note that this is a normal process, and the Department of Education requires us to verify this information for selected students. You will be notified if you have been selected for verification by the Department of Education in the Student Aid Report (SAR) after you file your FAFSA.

The Pell Grant and the Supplemental Educational Opportunity Grant (SEOG)* are federal grants awarded to undergraduate students who have not already earned a bachelor's, graduate, or professional degree.

Any student who files a FAFSA (and is a U.S. citizen or permanent resident) will be automatically considered for these federal grants. They are considered gift aid and do not need to be paid back. 

*Note that the SEOG is a limited fund, and preference will be given to students who file their FAFSA by the posted deadlines.

Any student who files a FAFSA (and is a U.S. citizen or permanent resident) will be automatically considered for federal loan eligibility. There are two types of federal loans: subsidized and unsubsidized. Both are considered self-help financial aid that must be paid back with interest.

• Federal Direct Subsidized Loan (also known as a Subsidized Stafford Loan): This is a loan for which the government pays the interest while you are in school, during grace periods, and during any deferment periods.

• Federal Direct Unsubsidized Loan (also known as an Unsubsidized Stafford Loan): This is a loan for which you are responsible for paying all the interest that accrues from the date of the first disbursement until the loan is paid in full. Note that graduate students are only eligible for the unsubsidized loan.

These loans are available to eligible U.S. citizens or permanent residents attending at least half time in a diploma or degree program. See the maximum borrowing limits for these loans, and familiarize yourself with the current federal loan interest rates.

First-time borrowers of federal loans must complete an online Master Promissory Note (MPN) and an Entrance Counseling session in order to be eligible for the loans.

To determine estimated payback amounts, you can use a repayment calculator. Please note that the amount of repayment depends on the type of loan you received, the amount you borrowed, the interest rate, and the length of the repayment plan.

If you are a graduate student or the parent of a dependent undergraduate student, you can be considered for PLUS loan eligibility by applying on the Student Federal Aid site. (See our FAQ for a definition of “dependency status” to make sure your student qualifies.)

PLUS loans often help cover the gap after any institutional and FAFSA-based funding are applied. These programs are offered by the U.S. Department of Education and (relative to some private loan lenders) offer lower interest rates and a less restricted loan approval process.

To be eligible for Parent or Graduate PLUS loans, the student must have a completed FAFSA on file.

See the maximum borrowing limits for these loans on studentaid.ed.gov, and familiarize yourself with the current federal loan interest rates.

First-time borrowers of federal loans must complete an online Master Promissory Note (MPN) and an Entrance Counseling session in order to be eligible for the loans.

To determine estimated payback amounts, you can use a repayment calculator. The amount of repayment depends on the type of loan you received, the amount you borrowed, the interest rate, and the length of the repayment plan.

A Berklee Grant is a need-based institutional award for scholarship recipients who show a high level of financial need through the CSS Profile and FAFSA. We encourage all entering students with a scholarship to complete both forms by the filing deadlines.

Students who complete the CSS Profile and/or FAFSA are automatically considered for the Berklee Grant, and no other application is necessary.

Domestic students who receive the Berklee Grant will need to renew their FAFSA each academic year.