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Award and Financing Guide
This guide is designed to help you understand your offer of financial assistance. In addition we have provided information regarding how eligibility for financial aid is determined, college billing procedures, and alternative financing options.
Financial Aid Eligibility
A student’s eligibility is based on financial need, timeliness of application, academic achievement, enrollment status, and degree level. Eligibility for financial aid is determined from the information a family provides on the financial aid applications and supporting materials.
A need-based philosophy assumes the student is primarily responsible for the cost of an education to the extent of your ability, and financial aid is used to supplement your efforts. The College uses the Federal Formula when calculating need. Your financial need is used to determine the amount and type of aid - such as loans or grants - that you are eligible to receive, dependent on funding levels and the terms and specific eligibility requirements of each fund. To receive need-based federal or state financial aid, you must meet certain requirements. See our website for a full list.
The Office of Financial Aid is committed to providing you with tools to assist in the education financing process. We invite you to contact us if you have any questions about the options available to you. Students receive their financial aid awards via Regis Access. Incoming students will be mailed award letters prior to enrollment. No paper award letters are mailed to returning or graduate students.
Estimated Cost of Attendance
The total cost of a Regis College education includes direct and indirect expenses. Direct expenses for resident students include tuition, fees, and room and board. Also included in the budget are allowances for books and supplies, as well as personal and travel expenses. Students are billed by Regis College for direct expenses minus any scholarships, grants, and loans awarded. Note that student budgets and awards can vary, depending upon on- or off- campus residency. You must notify the Office of Financial Aid in writing if your housing status changes.
Please remember that you must purchase your books each semester and charges for books will not appear on your bill.
|Room and Board||$14,380|
Federal and State Grant Programs
Federal Pell Grant — This grant is provided by the federal government and is available to undergraduate students pursuing their first bachelor’s degree. Eligibility is determined by the information provided on the Free Application for Federal Student Aid (FAFSA).
Federal Supplemental Educational Opportunity Grant (SEOG) — This grant is provided by the federal government and is available to undergraduate students with exceptional financial need. Priority is given to Federal Pell Grant recipients.
MASSGrant — This grant is provided by the Commonwealth of Massachusetts and is available to full- time undergraduate students with exceptional financial need who are residents of the state of Massachusetts and meet established application deadlines. For more information, students may visit www.osfa.mass.edu.
State Scholarships — Students should contact their state agency for eligibility requirements and application processes.
Merit Scholarships are awarded by the Office of Admission on the basis of prior academic achievement to entering full-time, first-year and transfer students. The Office of Admission notifies a student of his/her eligibility at the time of acceptance. The designation of a Merit Scholarship remains in effect for up to four years of undergraduate study, provided the student maintains the minimum renewal requirements. Eligibility for Merit Scholarships is dependent upon the number of semesters required to complete the undergraduate degree, not to exceed eight semesters. Renewal of all merit awards is contingent upon full-time undergraduate enrollment, residency status and achievement of the following cumulative GPA requirements:
|S. Therese Higgins Scholarship||3.20|
|S. Jeanne d'Arc O'Hare Merit Award||3.00|
|Alumnae Sponsor Award||2.25|
The Regis Presidential Catholic Scholarship is a full tuition scholarship that will be awarded to one student from each of the 34 catholic high schools within the Archdiocese of Boston. High school principals must nominate a student for the scholarship. Renewal is contingent upon achievement of 3.25 GPA requirement.
Regis Need Based Grants - Regis Grant
Students must be enrolled full-time in an undergraduate program and be a citizen or eligible noncitizen of the United States to receive consideration for awards. Renewal of grant is contingent upon full-time enrollment (4 classes).
Federal Loan Programs
Federal loans are provided to assist students who are enrolled at least half time in degree granting programs. Borrowers are required to sign a promissory note for all loans. First-time borrowers must complete entrance counseling which will outline the rights and responsibilities of borrowing. All borrowers will receive instructions when awarded. Upon graduation, withdrawal from the college or when a student is taking a less than half time course load they must complete exit counseling. Exit counseling is a process during which the borrower will receive additional information regarding their rights and responsibilities, repayment, repayment schedules, and lender information. It is up to the student to be a responsible borrower. All loans must be repaid. Loans awarded can be declined by contacting the Office of Financial Aid in writing.
Federal Perkins Loans — a low interest federal loan reserved for high-need students. Eligibility is determined by the Financial Aid Office, and depends on need and availability of funds.
Federal Direct Loan Program — Direct Loans are low interest loans for students with the lender being the U.S. Department of Education. Direct Loans are available to students who are enrolled at least half-time (6 credits). The Direct Subsidized Loan is available to students who demonstrate financial need determined by their FAFSA. The interest on the Direct Subsidized Loan is paid (subsidized) by the federal government while the student is in school and during a six- month grace period after the student ceases to be enrolled at least half-time. The Direct Unsubsidized Loan is also available to students. Interest accrues on the unsubsidized loan during enrollment, grace, and repayment periods. You can find more information on Direct Loans by visiting their Web www.studentloans.gov or by calling 1-800-848-0979.
Maximum Annual Federal Direct Loan Limits
|Freshmen||$3,500 subsidized||+||$2,000 unsubsidized|
|Sophomores||$4,500 subsidized||+||$2,000 unsubsidized|
|Juniors/Seniors||$5,500 subsidized||+||$2,000 unsubsidized|
Independent students may borrow an additional Direct Unsubsidized Loan annually of $4,000 (freshmen/ sophomores), $5,000 (juniors/seniors). Dependent students whose parents are denied a Direct PLUS Loan are eligible to borrow an additional Direct Unsubsidized Loan.
Direct Loans are processed by the Office of Financial Aid. First time borrowers will be instructed to complete entrance counseling and electronically sign (ESign) the Master Promissory Note (MPN). Entrance counseling and the MPN is required prior to the disbursement of a student’s first loan. ESign is the process by which the Master Promissory Note is completed and signed online with your FAFSA PIN. Repeat borrowers are not required to do anything if they are accepting the loan. A copy of the award letter should be returned to the Office of Financial Aid if a student wants to cancel or reduce the loan.
Direct PLUS Loan (Parent Loan for Undergraduate Students) — Parent(s) of dependent students may borrow up to the total cost of attendance minus any financial aid at a fixed rate of 7.21%. A FAFSA is required to receive a PLUS Loan. Repayment begins 60 days after the loan is fully disbursed and may be extended for up to ten years. The U.S. Department of Education performs a credit check on the parent borrower and will notify the applicant and school of the decision. A loan origination fee of 4.292% will be deducted from the loan by the lender. Parents may apply at www.studentloans.gov. Students who only want to apply for a Parent Loan should notify the Office of Financial Aid in writing.
Direct Graduate PLUS — The PLUS loan for graduate students is a federal education loan available for graduate- degree students enrolled at least half-time in eligible programs. The interest rate for Graduate PLUS Loans is fixed at 7.21%. Students can borrow up to the cost of attendance minus any other financial aid. Before applying for a Direct Graduate PLUS loan, students must complete the FAFSA so that eligibility for a Direct Unsubsidized Loan can be determined by the school. A loan origination fee of 4.292% will be deducted from the loan by the lender. Students may apply at www.studentloans.gov.
Federal and Institutional Work Programs
Federal Work Study (FWS) Program — FWS is available to students who demonstrate financial need. The amount of FWS listed on the award letter is the maximum amount the student may earn for the academic year. FWS is not deducted from the semester bills. Instead, students receive a paycheck for hours worked.
Institutional Employment — Institutional employment is available to students who are not eligible for federal funding. The amount of institutional employment listed on the award letter is the maximum amount the student may earn for the academic year.
Campus jobs are posted on the student employment page of the Regis Web site, and on the bulletin board outside the Office of Payroll. It is the student’s responsibility to secure a position. Students must complete a student employment contract, W-4 form, and I-9 form before employment begins. The contract and forms can also be printed from the Regis College Web site.
Alternative financing options can help families pay costs not covered by financial aid. The Office of Financial Aid will work with families to assist them in determining the best combination of options.
Private Loans — Privately sponsored educational loans offer students and their families the opportunity to finance the cost of education with attractive terms and interest rates. In some cases, the student may be the primary applicant, although it may be necessary to obtain a creditworthy co-borrower. Further information about supplemental loan programs may be obtained from the Elmselect.com website. Regis College does not recommend one loan over another.
All students are able to view and print their current tuition statements online through Regis Access. Arrangements for payment must be made prior to the start of classes. Late fees will be assessed to unpaid balances. When applying for payment plans or alternative loans, we recommend students apply for the total amount for the year. Contact the Bursar’s office, email@example.com or call 781-768-7270. Students are able to make payments online at www.regiscollege.edu/currentstudents. First semester students may not be able to use this service until they have gained entrance to Regis Access.
Mandatory Health Insurance
Effective September 1, 1989, the Massachusetts law C.15A,s. 18 requires that every full-time and part-time student enrolled in an institution of higher learning in Massachusetts participate in a Student Health Insurance Program (SHIP) or in a health benefit plan with comparable coverage. A part-time student is defined as a student participating in at least 75% of the full-time curriculum or at least 9 credits in a given semester. As a result, full-time and part-time undergraduate students taking 9 credits or more are automatically billed for individual membership in the health insurance plan sponsored by their colleges or universities. Students must purchase the school-sponsored health plan or show proof of comparable coverage in an alternate health plan in order to enroll in the college/university of their choice. Students must prove comparable coverage by completing a Student Health Insurance Waiver Form online at studentcenter.uhcsr.com. A notice regarding Student Health Insurance enrollment and waiver deadlines will be mailed to your mailing or permanent address if you register for at least 9 credits. Email notification will be sent if no action is taken to enroll in or waive out of the school’s insurance.
Financial aid awards are tentative until the file has been verified. Student and parent data reported on the FAFSA is verified with federal tax returns and W-2 forms for Regis purposes. Students who submit a FAFSA may be selected to complete a process called Federal Verification. The Central Processing Service (CPS) randomly selects FAFSA applications or FAFSA’s with conflicting information. Students and parents must submit additional documentation which may include a federal verification worksheet, federal tax return transcripts or other documentation which will verify information selected by the CPS. If verification results in a changed award, students will be notified to view or print their new award on Regis Access. Documentation requested by the Office of Financial Aid to complete the verification process must be returned as soon as possible within two weeks of notification.
Changes in Circumstances
Students are required by the federal government to update the Office of Financial Aid on certain changes made during the academic year. The following changes must be reported:
- Number of family members in the household
- Number of siblings attending college
- Student’s enrollment status
- Student’s housing status
- A change to any of the above factors could result in an adjustment to the financial aid award
Financial Aid Appeals
If you experience a significant change in your financial circumstances or if you have extenuating circumstances that are not reflected on your FAFSA you may submit a letter of appeal. Documentation that supports your appeal should be turned in as well. Appeals generally take two weeks for a response. If you experience any of the following situations, please put it in writing to the Office of Financial Aid.
- Loss of income
- Loss of untaxed income or benefits
- Death of a parent/spouse
- Incarceration of a parent/spouse
- Unusually high medical/dental bills not covered by insurance
Adjustments to Financial Aid
Adjustments may be made at any time to your financial aid package. Examples of the reasons why a financial aid package may be revised include, but are not limited to, the following:
- Additional outside or private sources of aid being added to your award.
- A change in your housing status. For example, your award is based on living with a relative but now you are in an apartment. Also moving on or off campus is likely to affect your award.
- A change in your enrollment status. For example, you originally planned to enroll full-time but subsequently decrease your enrollment to halftime status.
- For transfer students-the number of transfer credits you actually receive is different from those upon which the original award was based. For example, you list yourself as a junior level student on your FAFSA, however when your transcript is reviewed, your grade level status is determined to be sophomore.
- erification is required and results in a change to information initially reported on the FAFSA. (For more information see “Verification”).
IRS Data Retrieval
Students and parents who have filed their 2014 IRS tax return will be able to select the IRS Data Retrieval option on the FAFSA to transfer tax information to the FAFSA. We strongly encourage you to select this option during the initial filing or when subsequent corrections are made to your 2015–2016 FAFSA. This option will streamline and expedite the processing of your financial aid application. This tool cannot be used until 1–2 weeks after electronically filing a tax return, and 6–8 weeks after filing paper tax returns.
The federal government requires students to inform the Center of Student Services of any grants, scholarships or benefits received from sources outside of Regis College. It is our policy to reduce unmet financial need and self- help (loan or work) awards before reducing grants or scholarships.
Studying Off Campus/Abroad — Students who choose to study abroad or off campus should consult the Office of Financial Aid regarding the availability of funds for these programs. Institutional funds are not available for all programs.
Aid in Subsequent Years
Regis College financial aid decisions are made on an academic year basis. Renewal of financial aid awards are contingent upon maintaining satisfactory academic progress, timely reapplication for financial aid each year, continued demonstration of financial need as determined in prior years, and continued availability of funding from all sources.
Satisfactory Academic Progress (SAP) — Federal regulations and Regis College policy require that students receiving any type of financial aid, including student and parent loans, maintain a certain grade point average and earn a certain number of credits each academic year. Regis College confirms SAP at the end of each payment period (semester).
Financial Aid cannot be renewed for students who do not meet the minimum standards. The full Satisfactory Academic Progress policy is published on the Regis College web site costs and financial aid. We recommend that all students become familiar with this policy.
See “Regis Merit Scholarships” section for renewal requirements of each scholarship.
Any student who withdraws from all classes or takes an approved leave of absence, but attended the institution for at least one day during the semester and received or was eligible to receive financial aid, is subject to a Return of Title IV Funds calculation. This calculation is mandated by the federal government. Any student who receives Title IV funds will be subject to this policy.
The calculation will be done within 30 days of a student’s withdrawal from the College. You will be notified in writing of any adjustments to your financial aid. If the College is required to return any of the Title IV funds that a student received, it may result in an amount owed to the College. Failure of the student to return funds to the federal financial aid programs in a timely manner may result in the student being ineligible to receive future financial aid.
The Family Education Rights and Privacy Act (FERPA) (20 U.S.C. § 1232g; 34 CFR Part 99) is a Federal law that protects the privacy of a student education, financial and academic records. For the student’s protection, FERPA limits release of student record information without the student’s explicit written consent.
If you would like to allow the Office of Financial Aid to share information (financial aid application and award records) with a person other than you the student, please complete a Family Education Rights and Privacy act (FERPA) Authorization to Release Student Records Form.
Contact the Office of Financial Aid, Center for Student Services
The Office of Financial Aid is located in College Hall, Room 221
Counselors are assigned according to the first letter of a student’s last name.
Bonnie Quinn, Director
Tanya Jean-Francois, Associate Director, Caseload A–F
Jason Britt, Assistant Director Caseload G–N
Janet Casey, Assistant Director, Caseload O–Z
Elizabeth Stygles, Financial Aid Coordinator
The Office of Financial Aid uses Regis e-mail addresses to communicate with students. Students are encouraged to check their Regis e-mail accounts often for important financial aid announcements, reminders, deadlines, or requests for additional information.
Regis College School Code
The Office of Financial Aid, Center for Student Services
College Hall Room 221
Center for Student Services
Office of Financial Aid
235 Wellesley Street
Weston, MA 02493