Becker College Office of Financial Aid
47 Sever Street
Worcester, MA 01609
Becker College offers a wide range of financial assistance, including scholarships, grants, and loans. The programs vary from merit-based aid to need-based, with many awards based on a combination of both factors.
Becker College participates in the William D. Ford Direct Loan Program (Federal Stafford and PLUS loans). This means that for all federal loans, the U.S. Department of Education is the lender and servicer. Listed below are some commonly-received types of aid. Individual awards and eligibility are determined by the information provided on your financial aid application materials.
Becker College’s Foundation Office works with alumni and friends of Becker College to establish scholarships for our undergraduate day population. This form is designed to collect information needed to award these scholarships. Apply here.
A ten (10) percent tuition discount is granted to all students when two or more from the same family are full-time students in Becker’s day division. Details on eligibility and awarding are available from the Office of Financial Aid.
Sponsored by the Becker College Alumni Association and named for a former long-time Becker faculty member, this award is given on the basis of need and academic achievement. Currently-enrolled students apply during the spring semester. Awards usually range from $1,000 to $4,000 and are intended for use during the student’s next academic year at Becker.
These awards are made to residents of the town of Leicester who have graduated from Leicester High School. Applicants must submit a letter of recommendation from a Leicester High School teacher or counselor to the Becker College Office of Financial Aid.
The MASSGrant is a grant assistance program funded by appropriations from the Massachusetts legislature. The MASSGrant program provides need-based financial assistance to full-time undergraduate students who reside in Massachusetts. All eligibility requirements are listed on www.osfa.mass.edu.
Becker College Office of Admissions and Office of Financial Aid work together to offer merit scholarships based on, but not limited to, GPA and SAT scores. Students are reviewed for merit scholarships at time of acceptance. Please note that study abroad students will not receive their merit aid for the time that they are not at Becker College.
Once you complete your FAFSA, awards through this federal program are based on financial need. Need is determined by the federal need calculation formula as well as student enrollment status.
Awards through this federal program are based on financial need as determined by the federal formula once you complete your FAFSA.
Named for George Alden, a leading Worcester philanthropist, the scholarships are awarded by the college to students enrolled in baccalaureate degree programs. Awards vary in size and are conferred based on academic achievement and financial need.
Funded annually by the Fuller Foundation, these scholarships are awarded by the college to students of exceptional merit.
A program of the Massachusetts Board of Regents of Higher Education, these are need-based awards given to students from the state of Massachusetts.
The Fund is designed to help Becker College students who have demonstrated the talent and ability to succeed academically, but who are not achieving to their full potential.
Boston Celtic Hall of Famer Bob Cousy and his wife Marie Cousy initiated this endowed scholarship to encourage underprivileged students to attend Becker College. The college awards these scholarships to day division residents of Worcester Housing Authority (WHA) properties who are full-time. Applicants must submit an application, proof of residency, and two letters of recommendation. The amount of the award varies to provide for full financial need. Cousy scholars are also eligible for summer employment/internships at the WHA.
This scholarship is awarded by the college through funds provided by the Charles Irwin Travelli Fund. Recipients must demonstrate high financial need and a strong academic record.
Students awarded Federal Work-Study (FWS) have the opportunity to earn the amount of their award by working on campus. Federal Work-Study students will receive a bi-week paycheck. Most students work 6-10 hours per week while school is in session to earn their offered award. Funds from this program are paid directly to the student and can be used for personal expenses.
For more information on work-study positions visit the Career Services page.
Subsidized loans are based upon demonstrated financial need and the federal government subsidizes the interest. No interest is charged while the student maintains an enrollment status of at least half-time (six credits). Interest does begin to accrue from the start of the six month grace period and throughout the repayment period. The interest rate for Federal Subsidized Loans for the 2012-2013 academic year is 3.4%. The interest rate for loans first disbursed on or after July 1, 2013, has not been set by Congress, however, the interest rate could be as high at 6.8%.
Unsubsidized loans are not awarded on the basis of financial need. The loan accrues interest from the time it it is disbursed until it is paid in full. If you allow the interest to accrue while you are in school or during repayment periods, this interest will be capitalized. Interest that is capitalized will be added to the principal amount of your loan, and additional interest will be based on the higher amount. The interest rate for Federal Unsubsidized Loans for is 6.8%. Note: Students can pay the interest on their unsubsidized Stafford loan while in school. Students interested in making payments should contact their lender directly.
Federal Stafford Loan Fee - The origination fee is held by the U.S. Department of Education as an expense of assuming a Direct Loan. Loans with a first disbursement date prior to March 1, 2013 will have a 1.0% fee deducted from each loan disbursement. Loans with a first disbursement date on or after March 1, 2013 will have a 1.051% fee deducted from each loan disbursement.
The Parent Loan for Undergraduate Students (PLUS) enables parents of dependent undergraduates to borrow an amount equal to cost of attendance, less other financial aid. Parent loans differ from student loans in that repayment of the loan begins 60 days after the loan is fully disbursed, however parents can defer these payments while their student is attending college at least half-time (6 credits). Currently the interest rate is fixed at 7.9%.
Federal Parent PLUS Loan Fee – The origination fee is held by the U.S. Department of Education as an expense of assuming a Direct Loan. Loans with a first disbursement date prior to March 1, 2013 will have a 4.0% fee deducted from each loan disbursement. Loans with a first disbursement date on or after March 1, 2013 will have a 4.204% fee deducted from each loan disbursement.
To apply for a parent plus loan go to www.studentloans.gov and click on Sign in. When signing in, use the information of the parent applying for the loan. Click on Apply for a Parent Plus Loan and follow the directions.
Becker College participates in alternative loan programs through a number of lenders. Becker supports the family’s right to obtain a private alternative student loan from any loan provider and will certify and process private alternative student loans from any lender.
To find a list of lenders in which the Office of Financial Aid has selected please click here. We recommend these lenders based on the quality of products and services they provide to students and families. We have carefully considered our selections in order to provide you with the best possible list of suggested lenders. However, if you wish to use another lender that is not on this list, you have the right to do so.