Types of Undergraduate Financial Assistance

Grants and Scholarships 2008-2009

Federal Pell Grant
A federal source of assistance available to students who demonstrate financial need. Students apply for Federal Pell Grant consideration by completing the FAFSA. Federal Pell Grant awards ranged from $450 to $4,731.

Academic Competitiveness Grant (ACG)
The ACG provides up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study. The program became available for the first time for the 2006-07 school year for first year students who graduated from high school after January 1, 2006 and for second year students who graduated from high school after January 1, 2005. The Academic Competitiveness Grant award is in addition to the student's Pell Grant award.

Federal Supplemental Educational Opportunity Grant (FSEOG)
A federal source of assistance granted to students with the greatest demonstrated financial need. FSEOG awards may range from $100 to $4,000 per academic year.

State Scholarship/Grant Programs
The following states allow their scholarship/grants to be used at Emerson: Connecticut, Delaware, Maine, Massachusetts, New Hampshire, Pennsylvania, Rhode Island, and Vermont. Students who are residents from one of these states should apply for their state scholarship/grant program. Please contact your individual state program for application procedures and filing deadlines.

Gilbert Grants
These awards are made to Massachusetts residents enrolled full-time who demonstrate need. Funding for this program is made through the Commonwealth of Massachusetts.

Emerson Grants
Awarded to full-time students who demonstrate financial need and academic achievement.

President's Award
Awarded to full-time students admitted to the Honors Program who demonstrate financial need and academic achievement.

Restricted Scholarships
Emerson College has a number of restricted scholarships which are awarded to students who meet the eligibility set forth by the respective donors. Restricted scholarships are awarded only to upperclassmen and each upperclassman is automatically considered for these awards upon completion of their application for assistance. There is no separate application for these scholarships. A list of these scholarships is available in the Undergraduate College Catalogue.

Merit Based Scholarships
The Office of Undergraduate Admission awards a variety of merit and achievement awards to freshmen applicants each year.  Decisions on recipients are at the sole discretion of the Office of Undergraduate Admissions.  Applicants are notified of their scholarships at time of admission.  These scholarships are for incoming students only and not available to upperclass students.

Self Help

Federal Perkins Loan
A federal loan program awarded to full-time students demonstrating financial need. Awards range from $500 to $4,000 per academic year. Repayment of this loan begins nine (9) months after the student ceases to be enrolled at least half-time. The current interest rate is fixed at 5%. The student must sign a promissory note with the Office of Student Financial Services.

Massachusetts No Interest Loan
A no-interest loan program funded by the Commonwealth of Massachusetts and administered by Emerson College. Students must demonstrate high financial need and state residency to be considered for this program. Repayment of this loan begins six (6) months after the student ceases to be enrolled at least half-time and consists of principal only, as this is an interest free loan. The student must sign a promissory note with the Office of Student Financial Services.

Federal Subsidized Loan
These federally subsidized loans are available.  Students must demonstrate financial need as determined by the Office of Student Financial Services. Maximum loan amounts are determined by the student's grade level as detailed below.  

• First Year Students: $3,500
• Second Year Students: $4,500
• Third Year Students: $5,500
• Fourth Year Students: $5,500

Loan proceeds are disbursed in two (2) equal installments after the student signs the appropriate promissory note. Repayment of principal and interest begins six (6) months after the student ceases to be enrolled at least half-time (8 credits) per semester.  Please note that the federal government pays the interest on the loan while the student is enrolled at lease half time, and during the loan’s six-month grace period.  Subsidized Stafford Loans for undergraduate students have a fixed interest rate of 6.0% as of July 1, 2008.   

Federal Unsubsidized Loan
Unlike the Federal Subsidized Loan, these loans are not federally subsidized. (Interest accumulates on the loan during the in school and grace period.  Once the student enters repayment, the interest becomes part of the loan principal in a process called capitalization.)  Students not demonstrating full eligibility for the Subsidized Federal Loan are eligible for this loan program. Maximum loan eligibility is the same as the Federal Subsidized Loan detailed above. Limits are further capped for joint borrowing between the subsidized and unsubsidized. The loan is disbursed in two (2) equal installments after the student has signed the appropriate promissory note. Repayment of principal and interest begins six (6) months after the student ceases to be enrolled at least half-time (8 credits) per semester.  Please note interest does accrue during the deferment period.  Unsubsidized Stafford Loans for undergraduate students have a fixed interest rate of 6.8% as of July 1, 2006.  Loans borrowed prior to that date had a variable interest rate. 

Other Assistance

Private Scholarships:
Various organizations, civic groups and foundations award scholarships to help worthy students meet the cost of attending college. Information regarding these sources can be obtained from local high school guidance offices, libraries and on-line through the Internet.

If a student receives a private scholarship, the amount must be included in their financial aid package. If an adjustment is necessary, Emerson will adjust as follows: First, any unmet need is filled. Then, Work-Study, Perkins and/or No Interest Loan is reduced as needed. Emerson Grant funds are adjusted last in this sequence.  Stafford Loans will not be reduced.