A Guide to Aid, Scholarships, Grants, & Loans  

Once you’ve determined your cost of attendance, you may be curious about what additional financing options are available for prospective students.

There are a range of different financing choices available, including federal and state aid, scholarships, grants, discounts, and loans.

File Your FAFSA

You must complete the Free Application for Federal Student Aid (FAFSA) to apply for federal, state, and several non-government aid programs, as well as some types of school-based aid.

Follow these step-by-step instructions, or watch these videos, which were created by the Federal Student Aid Office to help explain the FAFSA process.

Begin the aid application process by applying for a Federal Student Aid (FSA) ID number.

  • This will act as your password information to log into the U.S. Department of Education website. Your FSA ID will also serve as your legal signature on all Federal Student Aid sites.

When you apply for admission to Lesley, log into the Federal Student Aid website to complete and submit your FAFSA, using the Lesley University School Code: 002160.

  • You will need to renew your FAFSA application each year for continued financial assistance.

The FAFSA can be completed as early as October 1, but the preferred deadlines to submit your FAFSA for Lesley University are as follows:  

First-year undergraduate students

  • February 15 for fall start
  • November 1 for spring start

Transfer undergraduate students

  • March 1 for fall start
  • November 1 for spring start

Threshold Program

  • February 15 (Threshold always starts in the fall)

Graduate students

  • We encourage you to apply for financial aid at the same time as applying for admission. The last possible day to apply for each academic year is June 30, or the final week of classes, whichever comes first.

Please note: All Massachusetts students must submit their FAFSA no later than May 1 before the beginning of the award year to be eligible for the MassGrant. If you miss the May 1 deadline, Lesley University won’t replace forfeited funds.

Each year, the U.S. Department of Education randomly selects 30 percent of applicants to complete an additional verification process.

  • We will contact you on your Lesley email account if you’ve been selected for verification, in which case, you will need to submit additional documents through your Lesley Self-Service account, under “My Documents.”

After submitting your FAFSA and any additional documents (if needed), you’ll receive a tentative award letter in the mail that shares an early estimate of your financial aid package.

Please note: If you filed the FAFSA early with estimated tax information, the aid offered in your tentative award letter may change based on actual tax returns. The closer your estimates are to the amounts on your family’s tax returns, the more accurate your tentative award will be.

You’ll get an official Financial Aid Award letter that has: 

  • Types of aid that make up your package
  • Estimated costs for your education

Undergraduate applicants only:

  • Estimated out-of-pocket costs
  • Financing options

Graduate applicants only:

  • Amounts for each term of your expected enrollment
  • Estimated indirect costs like living expenses, books, and supplies
  • Federal Work-Study
    • Your financial aid award letter will tell you if you’ve received Federal Work-Study funding and the total amount for the year.

Types of Financial Aid

Learn more about the different types of financial aid available to graduate and doctoral students — including scholarships, grants, and loans — and how to apply for them.

Scholarships & Grants

At Lesley, we offer generous merit-based scholarships. Scholarships and grants are free money you don’t pay back, making them a great way to help finance your education.

Below, you’ll find a comprehensive overview of available scholarships and grants for a clear picture of your options, eligibility, and application requirements.

Scholarship / Grant Eligible Students
Lesley Merit Scholarships Undergraduate, International
Urban Scholars Initiative (USI) Undergraduate, International
City of Boston Scholarship Undergraduate
Community Scholarships for First-Year Students Undergraduate, International
Federal Pell Grant Undergraduate, Adult Degree Completion
Federal TEACH Grant for Education Students Undergraduate, Graduate
Post-9/11 GI Bill® & Yellow Ribbon Program for Veterans Undergraduate, Adult Degree Completion, Graduate
Private Scholarships / Private Undergraduate Scholarships Undergraduate, Adult Degree Completion, Graudate
State Scholarships & Grants Undergraduate, Adult Degree Completion
Donor-Funded Scholarships Adult Degree Completion
Early Childhood Education Program Scholarship Adult Degree Completion, Graduate
Graduate Merit Scholarships for Applicant Graduate
Early Childhood Educators (ECE) Scholarship Graduate
Elizabeth & Edmund Cabot Assistantship Graduate
Double Lynx Scholarship Graduate
Threshold Scholarship Fund Threshold

Below are the full application requirements for each available scholarship:

Lesley University automatically considers first-year and transfer applicants for merit scholarships based on academic record and potential. Scholarships are renewable with full-time enrollment (12+ credits/semester), good academic standing, and satisfactory progress.

Lesley undergraduate merit scholarships are not available to students who: 

  • Students in the Adult Learning Division's bachelor's degree completion program
  • Those with Tuition Exchange Program (TE) or Council of Independent Colleges Program (CIC) tuition scholarships are included.

Through the Urban Scholars Initiative, first-year and transfer undergraduate students from several of our community partner organizations are eligible for 50 percent off their Lesley tuition. The Initiative serves low-income and first-generation students who have participated in—and been recommended by—one of Lesley’s USI partners.

How to Apply 

There is no additional application process for eligible students to be considered. Simply complete the FAFSA.

Lesley University collaborates with Bunker Hill Community College (BHCC) and the Urban College of Boston through Boston's Growing the Early Childhood Workforce Fund. This initiative provides associate degree graduates with financial aid to earn bachelor's degrees in Early Childhood Development or Education at Lesley.

You may be eligible if you: 

  • Are employed in the City of Boston
  • Earn an early childhood associate's degree from BHCC or Urban College of Boston
  • Are committed to working in Boston for three years after graduation 

Benefits include full tuition and fees covered (without student loans) through December 2025.

If you are interested in learning more, please complete this form. You can also email Jennine Tambio at jtambio@lesley.edu with additional questions.

There are several undergraduate scholarships available for students from certain communities or schools in Boston and Cambridge.

Cambridge Rindge & Latin Merit Scholarship: Full tuition/year for 4 years

You may be eligible if you: 

  • Are graduating from Massachusetts Cambridge Rindge and Latin High School
  • Have a minimum 3.0 academic GPA in a strong college prep curriculum
  • Have an outstanding portfolio (if applying to Lesley's College of Art & Design)

How to apply:  

  1. The school's principal and guidance team nominate six students in a letter of recommendation by February 15
  2. Students apply to Lesley University by February 15
  3. The University Scholarship Committee reviews all nominations, then selects and interviews finalists
  4. We notify finalists after March 1 and ultimately award two scholarships
     

Boston Arts Academy Scholarship: Full tuition for four years

You may be eligible if you: 

  • Are graduating from the Boston Arts Academy’s Visual Arts program
  • Have a minimum 3.0 academic GPA in a strong college prep curriculum
  • Have an outstanding portfolio (if applying to Lesley's College of Art & Design)

How to apply: 

  1. Boston Arts Academy nominates up to four students for consideration by February 15
  2. Students apply to Lesley University by February 15
  3. The University Scholarship Committee reviews nominations and interviews finalists, who also present their portfolios at the interview
  4. We’ll notify finalists after March 1 and award the scholarship to one recipient

Federal Pell Grants are need-based federal grants awarded to first-time bachelor’s degree students with exceptional financial need. The U.S. Department of Education determines further eligibility criteria. The maximum amount you can receive from a Pell Grant awarded in 2025-2026 is $7,395.

How to apply:

  • There is no additional application for eligible students to be considered. Simply complete the FAFSA. If awarded, the Federal Pell Grant will be included in your financial aid award letter.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant offers federal funds to aspiring teachers committed to working in low-income schools and teaching high-need subjects. Established by the Department of Education, it aims to place qualified educators in underserved communities to support disadvantaged students' academic success.

Learn more on the TEACH Grant website.

The TEACH Grant may be a good fit if you plan to: 

  • Become a “highly-qualified” teacher, as defined by your state
  • Teach full-time, in a low-income (Title I) school, for at least four years
  • Begin teaching within eight years of graduating from your teacher licensure program
  • Teach in a high-need subject area, as defined by the U.S. government or state

Eligibility criteria: 

  • Are enrolled in a TEACH Grant Eligible Academic Program
  • Are a U.S. citizen or an eligible non-citizen
  • Are in good standing with Title IV aid programs, per the National Student Loan Data System
  • Satisfy one of the following academic qualifications:
  • A cumulative GPA of 3.25 (on a 4.0 scale) in your most recent academic program before enrolling at Lesley University, and maintain a cumulative 3.25 GPA while enrolled in a TEACH Grant eligible program at Lesley University
  • A score above the 75th percentile on a national admissions test (Example: SAT/ACT for undergraduates; GRE for graduate students)
  • You’re a current or former teacher, or a retiree in any field; former teachers must be pursuing high-quality alternative certification in a master's degree program

How to apply: 

  1. File the FAFSA
  2. Complete and submit a TEACH Grant Intent Form:
    • TEACH Grant Intent Form for the 2025-2026 academic year
    • TEACH Grant Intent Form for the 2026-2027 academic year
  3. Sign the U.S. Department of Education’s online TEACH Grant Agreement to Serve
  4. Use your FSA ID to complete the U.S. Department of Education’s online TEACH Grant Counseling; if you don’t have/forget an FSA ID, request one from Federal Student Aid

The Post-9/11 GI Bill® covers tuition and fees up to a cap each year for eligible students attending Lesley University. You may qualify for tuition benefits under the Post-9/11 GI Bill® if you’ve served at least 90 days on active duty since September 11, 2001.

The Yellow Ribbon Program is a provision of the bill that closes the gap between the amount the bill covers and the actual amount for tuition and fees at private institutions. We’ve dedicated funds to this program, which Veterans Affairs matches dollar-for-dollar.

To qualify, you must: 

  • Have been honorably discharged from active duty
  • Have been released from active duty and placed on the retired list or temporary disability retired list
  • Have been released from active duty and transferred to the Fleet Reserve or Fleet Marine Corps Reserve
  • Have been released from active duty for further service in a reserve component of the Armed Forces 

OR 

  • Have been honorably discharged from active duty for a service-connected disability and served 30 continuous days since September 11, 2001

Your dependents may be eligible for Transfer of Entitlement under the Post-9/11 GI Bill®. Questions regarding the program should be directed to Thomas Graves, Registrar Representative and VA Certifying Official at 617-349-8781 or tgraves@lesley.edu.

*GI Bill ® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about VA education benefits is available at the official U.S. government website.

Private scholarships are funds you research and apply for independently. We’ve compiled ​​a list of private graduate and undergraduate scholarships for your review. Please note that this list is not comprehensive, and we highly recommend searching for other scholarships as well. In addition to online research, check your local high school library, employer, and clubs to find other funding sources.

  • In most cases, private scholarships are added to your existing financial aid and don’t result in a reduction of the total aid amount awarded. However, there are specific instances where we may need to adjust your aid package after you’ve received additional private scholarships.

Adjustments may occur in the following aid areas: 

  • Need-based aid: If your total need-based aid is more than your calculated need (including tuition, fees, and living expenses), your need-based aid will be adjusted
  • Loans and Federal Work-Study: When aid is adjusted, loans and Federal Work-Study are always reduced before any grant portion of an award package
  • Merit-based aid: Adjustments to your merit-based aid may be required if your total aid award is more than the cost of tuition and fees

Lesley University has agreements with grant agencies in Massachusetts, Pennsylvania, and Vermont, meaning funds from those three states can be disbursed to our full-time undergraduate students.

Your financial aid award letter may include your eligibility for state grants or scholarships, but the state’s higher education office will notify you of your actual award.

Massachusetts Grants are only available to Massachusetts residents. In addition to filing the FAFSA, most of these grants (except for MassGrant) require that you apply for them through the Massachusetts Office of Student Financial Assistance.

MassGrant: 

  • Is a need-based state grant for full-time undergraduate students
  • Massachusetts Office of Student Financial Assistance notifies eligible students, and Lesley verifies that eligibility
  • If awarded, the funds will automatically be applied to your student account

Paraprofessional Teacher Preparation Grant: 

Early Childhood Educators Scholarship: 

Massachusetts Public Service Grant: 

  • Is for students who have experienced the loss of a parent or spouse in the line of public service duty in Massachusetts
  • Complete your application and learn about the Massachusetts Public Service Grant

If you live outside of Massachusetts, there may be need-based grants and scholarships available from your state of residence. If you get awarded a need-based non-Massachusetts state grant, your Lesley grant funding may be reduced.

Donor-funded scholarships are endowed awards made through the generosity of individuals and corporations.

Please note: The cumulative amount of a student's existing Lesley University Merit Scholarship may be updated during the academic year to include a donor-funded scholarship; however, the total amount of the Lesley University Merit Scholarship will remain the same.

To apply, simply complete the FAFSA, as there are no additional requirements.

Constance and Lewis Counts, champions of early childhood education and advocates for greater access to higher education, founded a scholarship for students pursuing a degree in early childhood education.

The Constance and Lewis Counts Scholarship is for: 

We’re looking for applicants who: 

  • Are committed to the field of early childhood education
  • Have a strong interest in multicultural issues
  • Have a documented financial need
  • Are enrolled in six or more credits for the Fall semester

How to apply:  

Merit graduate scholarships are based on the strength of your application to Lesley University. You’ll find out if you’ve received a merit scholarship in your acceptance letter.

Please note: If you receive a merit scholarship in addition to a private award from an outside source or a tuition discount, you will be eligible to retain the larger of the awards.

There are five scholarships for Expressive Therapies students in their last year of study:

Community Engagement Award: 

  • For a student who demonstrates applications of music therapy in the community. 

Creativity and Innovation Scholarship Award: 

  • For a student who demonstrates creativity and innovation in art therapy. 

Distinguished Expressive Arts Therapy Award: 

  • For an Expressive Arts Therapy student who distinguishes their work in graduate studies, internship, or community.

Minerva Drama Therapy Research Award: 

  • For a student who proposes to build upon their thesis research, or who presents a strong vision for the application of drama therapy after graduation.

Norma Canner Dance/Movement Therapy Award: 

  • For a Dance/Movement Therapy student demonstrating passion, involvement, and creative vision in bringing therapy to communities and celebrating its culture.

How to apply: 

  • Write a two-page essay that includes:
    • Your name and contact information
    • Name of the award you’re applying for (repeat in email submission subject line)
    • Description of how you meet the criteria
    • Email your essay to Gilda Resmini-Walsh at grwalsh@lesley.edu.

Timeline:

  • Nov. 1: Deadline
  • Dec. 1: Award notification
  • Spring: Awards given
  • May: Student event for award recipients

The Anne Larkin Scholarship is a one-time award for newly accepted fall semester students in the on-campus special education master's program. Recipients are chosen based on their application strength, with preference given to those with a strong personal statement and a GPA of 3.5 or higher.

Funded by Say Yes to Education, Inc. (SYTE) in honor of Lesley University professor emerita and former director of the SYTE Cambridge Chapter, Anne Larkin, the scholarship supports graduate students accepted into the graduate Special Education program.

Our Language and Literacy Division offers two scholarships and one paid assistantship for students in our graduate Specialist Teacher of Reading programs.

We’re looking for applicants who: 

  • Are in good academic standing
  • Are enrolled in at least six credits on campus
  • Have outstanding academic achievement, leadership potential, and a commitment to a career in literacy education
  • Can provide evidence of collaboration with colleagues and peers. 

Francis Conley & Bernard J. Conley Memorial Scholarship:

  • Francis Conley (Dunton) was a Lesley College graduate with a long teaching career
  • This need-based scholarship is for a newly-enrolled graduate student in our Specialist Teacher of Reading master's degree program 

Barbara Polk Washburn Endowed Scholarship: 

  • Created in honor of Betsy Cabot's mother, a reading practitioner
  • This scholarship is for a student in the program who has been awarded financial aid
  • Preference is given to students nearing their practicum
  • Amount - $1000 (one scholarship)

The Massachusetts Department of Early Education and Care (EEC) and the Massachusetts Department of Higher Education (DHE) jointly offer this scholarship to help early educators increase their qualifications through a degree. 

This scholarship is open to people working in early childhood settings and EEC-certified residential programs who are pursuing these majors: 

  • Child Development Elementary Education
  • Child Guidance
  • Human Services
  • Psychology
  • Child Psychology

The scholarship typically covers a significant part of their tuition and fees, and can be added on top of Pell Grants. Learn More about the ECE scholarship here.

This is a paid assistantship open to students in the ​Specialist Teacher of Reading master's degree program. Recipients work with faculty or administrators on literacy-related projects during the academic year. Students work 5-10 hours/week, up to 100 hours.

If you earned your bachelor's degree at Lesley, you're eligible for our biggest discount, the Double Lynx Scholarship, where you get 12 free credits to put toward any Lesley master's degree, worth up to $16,200 (depending on your chosen program of study).

The award is applied to your tuition over two semesters. You’ll get six credits of free tuition automatically applied to your account in your first semester. To receive the additional six free credits in your last semester of study, you’ll need to submit a ticket on the Student Hub.

You cannot use the Scholarship in the following instances: 

  • For a certificate or non-degree program
  • When advancing from one master’s program to a second master’s program
  • When advancing from one master’s program to a PhD program
  • In conjunction with another discount or institutional scholarship*

Please note: You can use the Scholarship toward an accelerated dual bachelor’s + master’s degree program, resulting in even greater savings. However, you may not combine the Double Lynx Scholarship with other tuition discounts of Lesley University scholarships.

Eligibility criteria: 

  • If you’ve completed your undergraduate degree at Lesley, you’re automatically eligible to be a Double Lynx Scholar when you apply for any of our master’s programs
  • Cannot be applied to graduate certificate programs or PhD degrees

How to apply: 

  • There’s no additional application process for the Double Lynx Scholarship
  • If you’re a current Lesley undergraduate looking to go straight into a Lesley master’s program or or you want to begin earning your master’s degree concurrently with your undergraduate degree, talk to your advisor about how you can incorporate the Double Lynx Scholarship into your education plans

This private scholarship fund assists Threshold Core Program students with tuition or room and board costs for their two-year certificate program. Funding depends on annual donor generosity, so awards aren't guaranteed despite application completion.

Eligibility criteria: 

  • Full-time enrollment in the Threshold Core Program is required
  • If the student withdraws from the program during the academic year, the remaining funds will need to be returned to the scholarship
  • If a student is reinstated into the program, they must repeat the application process

How to apply: 

  • Scholarships are awarded annually on the basis of economic need
  • To apply for Threshold scholarships, please fill out the Threshold Scholarship Application Form and send the completed form to THAdmissions@lesley.edu
  • The Financial Aid Office will notify students of scholarships awarded
  • If you have any questions, please email Colin Brady, the Director of Threshold Admissions and Engagement, at cbrady5@lesley.edu.

Graduate Tuition Discounts

If you’re enrolling in one of our graduate programs, you may be eligible for several types of graduate-specific tuition discounts. See below for the available discounts, including how to apply, eligibility criteria, and benefits.

Please note: If you receive a merit scholarship award and are eligible for a tuition discount, we can offer you only the larger award.

We offer City Year’s corps members, alumni, and staff a 25 percent tuition discount on several of our graduate programs.

Eligibility criteria: 

  • Have been accepted into a Lesley on-campus or low-residency graduate program
  • Are a City Year corps member or alumnus who has completed at least one year of service
  • Are a City Year staff member who’s been employed for at least 2 years

Benefits: 

  • 25 percent off graduate tuition
  • Scholarship can be renewed each semester for the entire program, so long as you are in good academic standing
  • One-year enrollment deferral: Once accepted, you may defer enrollment for up to a year if you serve more time with City Year

How to apply: 

  1. Apply for a Lesley graduate program
  • Lesley’s Graduate Admissions Office makes all admissions and scholarship decisions, not City Year
  • Be sure to meet all application requirements and deadlines
  1. Identify your City Year affiliation
  • Tell our Graduate Admissions Office that you served with City Year (luadmissions@lesley.edu or 617-349-8300)
  • Reference the "tuition discount partnership scholarship"
  1. Request a City Year service verification letter
  • Email alumni@cityyear.org with "Lesley University Graduate Programs" in the subject line
  • Include the site where you served and your corps graduation month and year, and The City Year Alumni Department will send your service verification letter to the Lesley Graduate Admissions Office and add it to your applicant file

Please note: This tuition discount applies only to total tuition costs, not already discounted by other Lesley partners. In addition, if you are awarded a Lesley merit scholarship, you will be eligible to receive either the City Year discount or the merit scholarship, but not both. Please check with the Graduate Admissions Office to confirm the tuition structure for your program.

We offer four other types of tuition discounts that can be used toward several of our campus-based graduate programs. Some restrictions may apply.

Discount policies: 

  • The below discounts are not offered for undergraduate, Threshold, off-campus, Creative Writing MFA, Visual Arts MFA, Photography MFA, low-residency, or online programs
  • Discounts will not apply if other promotional rates or reductions are applied to the tuition charge (vouchers, employee discounts, institutional scholarships, or special offerings)
  • Discounts will not apply to deferred tuition payments or special payment arrangements
  • Discounts may not be combined
  • Discounts will not be applied retroactively

Please note: Other restrictions may apply; policies are subject to change.

 

  • 10 percent reduction for most campus-based courses, at the on-campus rate
  • Receive this discount for eligible courses starting after your Lesley graduation
  • It does not apply to programs that combine a bachelor's and master's degree
  • It does not apply to Lesley Double Lynx recipients
  • If you graduated before 1989, Submit an Alumni Discount Form to our Registrar's Office to begin receiving this discount

  • 10 percent reduction for most campus-based courses, at the on-campus rate
  • You must be at least 55 years of age by the start of class to receive the discount

  • 10 percent tuition reduction for most campus-based graduate courses (on-campus rate)
  • You must be a City of Cambridge employee; this includes public school teachers and government employees
  • Attach proof of current City of Cambridge employment to your course registration form
  • Submit your documentation to our Student Accounts office before the last day of Add/Drop for the semester and for each registration period
  • We'll credit the discount after the Add/Drop period

  • 10 percent tuition reduction for most campus-based graduate courses(on-campus rate)
  • Submit proof that you live in Cambridge, Massachusetts (e.g. lease with your address)
  • The discount is good for the entire lease; no additional documentation required
  • Other acceptable documents include any two of the following:
    • Utility bill
    • Cell phone bill
    • Credit card bill
    • Bank statement
  • Documents must show a Cambridge address and be dated within 30 days of submission
  • Submit documents to the Student Accounts Office before the semester Add/Drop deadline

Loans

There are many different types of loans, including state, federal, and private loans. Some state and federal loans are based on the result of your FAFSA, while others require additional application steps. Private, non-government loans require independent research and application. 

Learn about the different types of loans and how to apply for each one:

Federal Direct loans are provided by the U.S. Department of Education at a fixed interest rate to help you pay for your undergraduate or graduate education. Because they are backed by the U.S. government, the interest rates are lower than private loans.

Unsubsidized loans: 

  • Loans for undergraduate and graduate students
  • The student is responsible for all interest that accrues, even while they are in school
  • You can make voluntary interest payments while in school, or defer interest payments until they enter repayment

We recommend paying the interest when it’s billed quarterly. Otherwise, unpaid interest will be added to the principal balance at the end of the grace period, making the loan more expensive. 

Subsidized loans: 

  • Need-based loans for undergraduate students
  • Interest is subsidized (paid) by the U.S. government, up to a set maximum amount, while the student is in school or during grace periods
  • Interest doesn’t accrue if the student is enrolled at least half-time (six credits/semester)
    • Example: You get a $5,500 Direct Loan, and the maximum amount that can be subsidized is $3,500. That means you’d have a $3,500 subsidized loan and a $2,000 unsubsidized loan.

How to Apply 

There is no additional application process for students to be considered for Federal Direct Loans. Simply complete the FAFSA, and your financial aid award letter will indicate if you’ve received one of these loans, and for how much. You'll need to accept, decline, or revise (reduce) the loan through your Lesley Self-Service account

Learn more about Federal Direct Loans, including annual and aggregate limits, interest rates, fees, and terms and conditions on the Federal Student Aid website.

Limits: 

There is a limit on how much you may borrow each academic year. For undergraduates, the limit is based on your dependency status and how many completed undergraduate credits are on your Lesley transcript. There is also a limit on how much federal loan funding you may borrow in total, called the “aggregate."

Origination Fee:

An origination fee is paid to a lender to cover the processing and administration of a loan. The U.S. Department of Education deducts this fee from the top of the loan before sending funds to Lesley University on your behalf.

  • Example: For a $5,000 loan with a 1 percent origination fee ($50), you’d get $4,950 to use toward your education.

The Massachusetts NIL is a zero-interest state-funded loan for undergraduate students who live in Massachusetts and are attending a post-secondary institution in the state. Repayment begins six months after you graduate, leave school, or fall below half-time (taking six credits/semester).

How to apply:

There is no additional application process. Simply complete the FAFSA. You’ll find out if you’ve received this loan in your financial aid award letter. Then you decide if you want to accept it.

The Federal Direct Parent PLUS Loan is available to parents of dependent undergraduate students. Eligible parents can borrow funds from the U.S. Department of Education at a fixed interest rate to help pay for their child’s college education.

Eligibility criteria: 

  • The parent must be the student's biological or adoptive parent, or custodial stepparent
  • The parent must have good credit
  • The student must be a dependent at the time they fill out the FAFSA — meaning they’re under 24 years old, unmarried, and have no legal dependents
  • The student must be enrolled at least half-time (taking six or more credits/semester)
  • The parent and dependent student are U.S. citizens or eligible non-citizens
  • The parent and dependent student aren’t in default of any federal education loans, nor owe overpayment on a federal education grant

How to apply: 

  1. The student files the FAFSA
  2. The parent applies for the loan online, through the U.S. Department of Education
  3. If the parent receives the loan and they’re a first-time borrower, they’ll need to sign a  Master Promissory Note (MPN) online using the FSA ID; if you don’t have an FSA ID or can't remember it, request one from Federal Student Aid

Learn more about the Parent Plus Loan, including interest rates, fees, repayment, and terms and conditions on the Federal Student Aid website.

Parents can borrow up to the total cost of their child’s education, minus other financial aid the student has received.

Origination Fee: 

An origination fee is paid to a lender to cover the processing and administration of a loan. The U.S. Department of Education deducts this fee from the loan before sending the funds to Lesley University on your behalf.

  • Example: For a $10,000 loan with a five percent origination fee ($500), you’d get $9,500 to use toward your education.

This is a federally guaranteed loan with a fixed interest rate and is intended for graduate students. A PLUS Loan can help pay for tuition and education-related expenses. You may borrow up to the cost of your education, minus other financial aid.

You may be eligible if you: 

  • Meet the basic eligibility requirements for federal student aid
  • Are a graduate student enrolled in at least half-time (taking three credits/semester)
  • Are also eligible for the Federal Direct Unsubsidized Loan
  • Have good credit

How to apply: 

  1. Complete the FAFSA
  2. Apply for the Federal Direct Graduate PLUS loan online through the U.S. Department of Education
  3. If you receive the loan and are a first-time borrower, you’ll need to sign a  Master Promissory Note (MPN) online using your FSA ID; if you don’t have an FSA ID or can't remember it, request one from Federal Student Aid
  4. If you’re a first-time borrower, use your FSA ID to complete Graduate PLUS Loan Entrance Counseling

Origination Fee: 

An origination fee is paid to a lender to cover the processing and administration of a loan. The U.S. Department of Education deducts this fee from the top of the loan before sending funds to Lesley University on your behalf.

  • Example: For a $10,000 loan with a 5 percent origination fee ($500), you’d get $9,500 to use toward your education.

Interest:

The interest on a PLUS loan accrues while deferred, and is capitalized (added to the principal balance) when the loan enters repayment. You can make interest-only payments while in school, making the loan less expensive overall.

Learn more about Graduate PLUS Loans, including interest rates, fees, and terms and conditions on the Federal Student Aid website.

If you borrowed funds from the U.S. government for your education, there are a few ways you can pay back that loan. Federal student loans are managed by a loan servicer. Your loan servicer will help you navigate your repayment options and determine if you qualify for an income-driven repayment plan or which plan is best for your situation. 

Check the National Student Loan Data System for contact information for all federal loan servicers.

Income-driven repayment plans are meant to be affordable. Your monthly payments are 10 or 15 percent of your discretionary income. This figure is calculated based on your total income, household size, and U.S. poverty guidelines.

Each year, you’ll need to send income and household size information to your loan servicer to remain on this type of repayment plan. If your income decreases or your household size increases at any time, contact your loan servicer to get a new monthly payment amount. You don’t have to wait for the annual review.

Learn more about income-driven repayment plans on the Federal Student Aid website.

Several repayment options aren’t based on your income and are available to all borrowers, including Standard, Graduated, and Extended plans.

Learn more about your other repayment options on the Federal Student Aid website.

If you borrow funds from the U.S. government for your education, you may be eligible for a loan forgiveness program. This means you won’t have to pay back all of the money you borrowed.

There are loan forgiveness programs for teachers, public service workers, and individuals on an income-driven repayment plan. Work with your loan servicer to see if you’re eligible. Check the National Student Loan Data System for contact information for all federal loan services.

Receive forgiveness for up to $17,500 of your Federal Subsidized or Unsubsidized loans.

  • To be eligible, applicants must teach full-time and have taught for five full, consecutive years in schools or educational agencies that serve low-income families. 

Learn more about Teacher Loan Forgiveness

Receive forgiveness for the balance due on your Federal Direct student loans.

Eligibility criteria: 

  • Have made 120 qualifying payments (10 years) on loans under certain repayment plans 

AND 

  • Made the payments while employed full-time by a qualifying public service employer, such as a government agency or not-for-profit organization
  • Have an income-driven repayment plan, meaning your monthly payment is based on your income, household size, and the federal poverty guidelines for your area

Learn more about Public Service Loan Forgiveness on the Federal Student Aid website.

Please note: You may qualify for the Teacher Loan Forgiveness and the Public Service Loan Forgiveness. However, the five years of employment for the Teacher Loan Forgiveness does not count toward the 10 years of employment for the Public Service program.

If you don’t qualify for public service loan forgiveness, you may have another option.

You could have your federal student loan balances forgiven if you: 

  • Are on a repayment plan based on your income and household size 

AND 

  • Have made payments on time for 20 or 25 years

Whether you qualify after 20 or 25 years depends on when you became a first-time borrower. You may need to pay income tax on the amount forgiven.

Learn more about Income-Driven Repayment on the Federal Student Aid website.

Private (alternative) education loans are monies you borrow from a private lender, not from the federal government. Private loans can cover the difference between the cost of your education and the funds you receive from other sources.

Several private loan products are available; however, you should research scholarships, grants, work programs, and Federal Direct Loans before borrowing from a private lender.

In your search for private loan options, you can start with our Graduate Private Loan List. Lenders are featured on the list only because they have notified Lesley University that they offer private educational loans for the current academic year. You can also research your state's lending agency, local bank, or credit union for additional loan options. If you decide to use a lender or loan product not listed on the Private Loan list, notify Lesley’s Financial Aid Office so we can certify your loan of choice.

Here are some tips for when you research private education loans.

Know your FICO score: 

Improve your FICO score: 

  • Get a free credit report and check it for errors; fix any mistakes before applying
  • Pay bills on time, settle past due accounts, pay down debt, and reduce the percentage of your total credit card balances to below 30 percent of total available credit
  • Don't cancel a credit card — this can cause an immediate, short-term negative effect
  • Keep your oldest credit cards; the longer your credit history, the better your FICO score

Research options & rates: 

  • Determine the lenders you are interested in before completing your first application
  • The approval process for a private loan results in a hard inquiry on your credit report
  • Having many hard inquiries may reduce your credit score
  • Multiple applications within 30 days will only result in one hard inquiry, so apply to several lenders to find the most competitive rates in this 30-day window
  • If you apply for more than one private loan, inform Lesley's Financial Aid Office; we’ll certify the first loan application we receive and may cancel additional requests

Consider these factors to determine the best private loan product for you:

Annual Percentage Rate (APR): 

  • The principal is the amount you borrowed that remains unpaid, before interest and fees
  • The APR is the annual cost of your loan, including any fees or charges, plus interest
  • Interest rates may be fixed or variable:
  • A fixed interest rate remains the same throughout the entire loan term
  • Variable (adjustable) interest rates are subject to change, meaning the rates could increase during the life of the loan, making the loan more expensive
  • Find out if the lender uses PRIME or LIBOR to determine their interest rates:
  • Lenders using LIBOR typically use the three-month rate
  • Learn more about how PRIME and LIBOR rates work

Interest capitalization: 

  • When borrowing money, you’ll have to pay interest — it's just a matter of when
  • Find out when the interest on your loan is capitalized, meaning, when it is added to the principal balance, and ask if this changes during repayment
  • If you defer paying your loan, you are deferring the principal, interest, and fees; interest still accrues on the loan and then is added to the principal for you to pay back at the APR, which means you will be paying interest on the interest you "borrowed"
  • Making interest-only payments on an alternative loan while in school will drastically reduce the total cost of the loan

Calculate the total cost of the loan: 

  • Ask the lender about interest rates and fees, and other questions such as:
  • Are there introductory rates that increase over time?
  • Is an origination fee deducted from the loan before the funds are sent to Lesley?
  • Are there any fees added after the entire loan has been disbursed?

Loan limits: 

  • Does the loan have an annual or aggregate limit?
  • Ask yourself if you can afford to borrow within the limits

Repayment: 

  • Does repayment begin immediately or after you graduate or leave school?
  • How long is the repayment period? Are there choices, such as 10 years vs. 20 years?
  • Are on-time payments rewarded? Or, are there penalties for repaying the loan early?

Lender stability: 

  • How long has the organization been providing student loans?
  • Are they offering alternative loans through the next four years?
  • Does the lender sell its loans? If so, how often, to whom, and with what consequences?

Customer service: 

  • What services does the lender offer to borrowers?

Lesley University does not recommend any particular loan product.

Review our Lender Code of Conduct for legal information about lending relationships.

Take the next step

Ready to begin your journey with Lesley? ​Share some basic information by filling out one of the forms below so that we can reach out to you with more information about our programs. Or, email admissions@lesley.edu to connect with a member of our admissions team.

Undergraduate Inquiry Form  |  Graduate Inquiry Form  |  Threshold Inquiry Form