Financial Aid 101

It's that time of year, you've made it through the Admission Process (hopefully with a positive decision) and you're thinking, "There’s nothing to this college application stuff." And that's when it hits you. All of the confusing acronyms. All of the deadlines. All of the forms.

What is it? It's the Financial Aid Process. Not to worry...with a little review and a few mouse clicks - we’ll get you through it!

Lasell College offers two types of Financial Assistance.

1. Merit Awards
2. Need based Financial Aid

To receive a Lasell College merit award, students must first be admitted to the college and be selected for an award based on certain academic criteria. Additionally, some of Lasell's merit awards invite selected candidates to submit an essay for further consideration. The Office of Undergraduate Admission determines the eligibility for and notification of the Lasell College merit awards. Lasell's merit awards are renewable for four years, requiring recipients to remain in good academic, judical, and program standing as determined by the College.

Many of Lasell's merit awards are connected to programming at the College. Check out these Academic Centers to learn more about Lasell's commitment to Honors, Service, and Civic Responsibility at -

Lasell's Honor's Program, The Center for Community Based Learning, and The Donahue Institute for Values and Public Life.

Lasell College also offers need based aid. To receive need based aid, students must apply for financial assistance by completing the following: (Click on the links below to access the actual forms)

• Lasell College Financial Aid Application
• Free Application for Federal Student Aid (FAFSA)

Eligibility for need based aid is determined by just that, (a student's/families need). Need based assistance may take the form of a Lasell Grant, Federal and State Grants, Federal Loans, and Federal work-study. Once a student applies for need based aid and they are determined to be eligible for assistance, they will received a Financial Aid Package that includes any merit award(s) they have been offered, and any Federal, State, and Institutional Grants they are eligible for; as well as, their eligibility for the Stafford Loan and Federal Work Study assistance will be included.

In addition, a Lasell College Financial Aid Package includes information on how to finance your education beyond what the available aid covers. This includes information on the monthly payment program, private student loans, and parent loans. The Office of Student Financial Planning provides a worksheet with each financial aid package, giving you the general cost of attendance which allows you to figure out your estimated out of pocket expense.

Lasell College's Office of Student Financial Planning is your best resource for Financial Aid questions. You can email them directly at finaid@lasell.edu.

All that’s left are the “dos and don’ts"?…

DO: Complete and submit the Financial Aid Applications as soon as possible, but no later than March 1, 2009.

DON'T: Wait to have your taxes completed before applying for Financial Aid.

DO: File your Financial Aid Applications electronically.

DON'T: Compare aid packages to those of your neighbors, friends, or relatives – financial planning is as individual as the situation of the families and the students they serve.

DO: Ask questions! The Lasell College Office of Student Financial Planning is ready to answer any questions you have about the entire financial planning process.

And remember, the Lasell College Guarantee: If there are no significant changes in your student status or your family’s finances, and you complete all required paperwork on time, we will renew your Lasell College funding at the same level each year of your four years at Lasell!