Grants
Mount Ida College Grant
Awarded to degree-seeking, full-time undergraduates on the basis of demonstrated financial need as a result of filing the FAFSA annually, and as funding levels permit. Mount Ida College grant awards range from approximately $500 to $7,000 per academic year, and can be adjusted when a student changes their residency status. Funds are credited to tuition accounts after the add/drop period and stabilization has occurred each semester.
Mount Ida College Supplemental Grant
Awarded to degree-seeking, full-time undergraduates on the basis of demonstrated financial need as a result of filing the FAFSA annually, and as funding levels permit. Award amounts vary and can be adjusted when a student changes their residency status. Funds are credited to tuition accounts after the add/drop period and stabilization has occurred each semester.
Federal PELL Grant
These funds are awarded to eligible undergraduate students with financial need according to information provided on the FAFSA and are pursuing their first bachelor’s degree. PELL Grant funding is determined annually by the federal government. Awards range from a minimum of $577 to a maximum of $5,550 for the 2012-2013 academic year and are based on enrollment status. To be eligible for this grant, students must complete the FAFSA annually for consideration. Funds are credited to tuition accounts after the add/drop period and stabilization has occurred each semester. Until funding award schedules are finalized by the federal government, awards are estimated.
The Department of Education has reduced the duration of a student’s eligibility to receive a Federal Pell Grant from 18 semesters (or its equivalent), to 12 Semesters (or its equivalent). This change is effective July 1, 2012, with the 2012-2013 Award Year, and applies to all Federal Pell Grant eligible Students. The Department of Education has determined that this equivalency be measured according to the cumulative percentage of scheduled awards received by the student; the student’s lifetime limit is thus 600 percent. Any student whose Lifetime Eligibility Used (LEU) equals or exceeds 600 percent may not receive additional Pell Grant funds. Similarly, a student whose LEU is greater than 500% but less than 600%, while eligible for a Pell Grant for the next award year, will not be able to receive a full scheduled award.
How do students know their Pell LEU?
For the 2012-2013 award year, between April 16 and July 1, the U.S. Department of Education’s Common Origination and Disbursement (COD) system sent targeted e-mail messages to 2012-12013 FAFSA Pell-eligible applicants, near, or exceeding, an LEU percentage of 600%. In July 2012 the U.S. Department of Education’s Central Processing System (CPS) began reporting Pell LEU information on Student Aid Reports using comment codes to alert applicants who are close to or have exceeded 600% LEU.
For the 2013-2014 award year, students can determine their Pell LEU by reviewing the their Student Aid Report (SAR) or obtaining a COD transcript from the Financial Aid Office.
What do students do if they believe the Pell Grant data may be inaccurate?
If a student believes a LEU is inaccurate, he/she should contact the Financial Aid Office at their current institution. The institution will review the Pell history in COD with the student. If data, the information that results in the student receiving partial or no Pell eligibility is still in question, the institution will receive direction on how to escalate the matter to Federal Student Aid (FSA) for adjudication. Documentation will be required (i.e. student statement, institution attestation, etc.). If the Pell Grant is determined to be wrong, both the student and the institution that wishes to pay the student, will be given documentation that must be maintained.
May a student decline or return a Pell Grant?
A student may decline all or part of a Pell Grant award or return, during an award year, all or part of a disbursement already made within the same award year. The student must provide a signed, written statement clearly indicating his/her decline/return of Pell Grant funds and acknowledge that funds may not be available at a later date. Institutions may not award need-based Title IV aid to compensate.
Federal Supplemental Educational Opportunity Grant (SEOG)
This fund is funded by the federal government and awarded to students who are enrolled at least half-time to students with exceptional need and availability of funds is limited. Priority is given to students who are eligible for the Federal PELL Grant as demonstrated by the FAFSA. Award amounts vary according to student need and funding received by the College. Awards range from a minimum of $100 to a maximum of $4,000. Students must complete the FAFSA annually for consideration. Funds are credited to tuition accounts after the add/drop period and stabilization has occurred each semester.
TRIO Grant
The TRIO Grant is a federal grant that is awarded to a limited number of students who are enrolled full-time and have exceptional need. Award amounts vary according to student need and funding received by the College. Students selected for this scholarship are notified via Award Letter from the Office of Financial Aid. Funds are credited to tuition accounts after the add/drop period and stabilization has occurred each semester.
State Grants
These grants are based on financial need and may be offered to eligible students from their state of legal residence indicated on the FAFSA. Students should complete the FAFSA and review requirements and deadlines set forth by their state. Massachusetts has reciprocity with other state grant programs such as Maine, Vermont, Rhode Island, Connecticut and Pennsylvania and allows funding to students who are from their home state attending a Massachusetts college. Eligible students are awarded as rosters become available to the College. Funds are credited once student enrollment is certified after the add/drop period each semester.
Massachusetts State Grant
This fund is awarded to students who demonstrate financial need as defined by the FAFSA and availability of funds. Eligible Massachusetts residents must be enrolled full-time (12 credits, in a degree seeking, first bachelor’s degree. Awards range from $300 to $1,600 as determined and set by the Commonwealth of Massachusetts. Awards are estimated until final funding levels have been released by the State. Massachusetts State Grant deadline is May 1 (FAFSA must be filed by this date). Funds are credited to tuition accounts after the add/drop period and stabilization has occurred each semester.
Massachusetts Part-Time Grant
This fund is provided to the College by the Commonwealth of Massachusetts with a limited allocation of funds. Awards are made available to eligible undergraduate Massachusetts residents enrolled in a degree seeking, first bachelor’s degree, at least half-time but no greater than three-quarter time. Awards are estimated until final funding levels have been released by the State. Massachusetts State Grant deadline is May 1 (FAFSA must be filed by this date). Funds are credited to tuition accounts after the add/drop period and stabilization has occurred each semester.
Massachusetts Gilbert Grant
The Gilbert Grant is awarded to full-time students whose state of legal residence is Massachusetts. Recipients of this grant are eligible based on financial need and availability of funds. Awards range from $500 to $2,500 per year. Students are required to complete a FAFSA annually for consideration. Funds are credited to tuition accounts after the add/drop period and stabilization has occurred each semester.
GEAR UP Program
An undergraduate student who has been admitted to an eligible institution and meets the following requirements:
a) is fewer than 22 years of age at time of first scholarship award
b) participated in the Early Intervention component of GEAR UP Massachusetts
c) has graduated from a Massachusetts public high school participating in GEAR UP Massachusetts beginning in 2005
d) is a permanent legal resident of Massachusetts for at least one year prior to the start of the academic year and
e) is a United States citizen or a non-citizen eligible under Federal Title IV
f) is enrolled full- or part-time in an eligible program at an eligible institution
g) annually files the Free Application for Federal Student Aid (FAFSA)
h) maintains Satisfactory Academic Progress in accordance with institutional standards
i) is in compliance with applicable laws regarding Selective Service Registration
j) is not in default of any federal or state student education loan for attendance at any institution or owes a refund for any previous financial aid received.
Awards range from $800 to $1,000 per year. GEAR UP scholarships may be awarded to eligible students for a maximum of four years or eight semesters or the adjusted equivalent if the student is enrolled part-time. Eligible students are awarded as rosters become available to the College. Funds are credited to tuition accounts after the add/drop period and stabilization has occurred each semester.
For more information, please contact us at finaid@mountida.edu or 617-928-4785.