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Federal & State Aid

Federal Programs:

All federal awards are determined by financial need as calculated using the information supplied on the FAFSA (Free Application for Federal Student Aid).

Grants - Two programs provide outright grant funds, which do not need to be repaid:

Work Study - These funds provide a portion of the wages paid to students who are awarded campus jobs as part of their financial aid packages. Students apply for positions during orientation. Student employees work approximately 9 to 10 hours per week and are paid bi-weekly.

Federal Direct Loan - Through the Federal Direct Loan Program, borrowers receive federal loan funds directly from the U.S. Department of Education. There are two types of Federal Direct Loans:

Subsidized: The federal government pays the interest on this loan while the student is enrolled at least half-time or during times of authorized deferment. Direct Subsidized Loans are awarded to undergraduate students based on financial need and grade level.

Unsubsidized: Students are responsible for paying the interest that accumulates after the loan has disbursed. The interest can be paid while in school or the accrued interest will be capitalized (added to the principal balance). Unsubsidized Stafford Loans are awarded based on grade level and financial need is not considered.

  • The interest rate for both Subsidized and Unsubsidized undergraduate loans, disbursed between 7/1/20 and 6/30/21, is fixed at 2.75%.
  • The interest rate for Unsubsidized loans for graduate students, disbursed between 7/1/20 and 6/30/21, is fixed at 4.30%.
  • The loan origination fee for the subsidized and unsubsidized loans disbursed between 10/1/19 and 10/1/20 is 1.059%.
  • Repayment begins six months from the date of graduation, full withdrawal or enrollment less than half-time.
  • A number of repayment plans are available at www.studentaid.gov.
  • There is no prepayment penalty.
  • New Direct Loan borrowers at Bay Path University must complete a Master Promissory Note (MPN) and Entrance Counseling online at www.studentaid.gov.

Student must maintain Satisfactory Academic Progress for continued eligibility.

Loan Limit Dependent Student* Independent Student**
1st Year Undergraduate $5,500 (maximum
$3,500 subsidized)
$9,500 (maximum
$3,500 subsidized)
2nd Year Undergraduate $6,500 (maximum
$4,500 subsidized)
$10,500 (maximum
$4,500 subsidized)
3rd Year Undergraduate $7,500 (maximum
$5,500 subsidized)
$12,500 (maximum
$5,500 subsidized)

*Except those whose parents are unable to borrow a PLUS loan.
**These limits also apply to dependent students whose parents are unable to borrow a PLUS loan.

Cumulative Borrowing Caps - The total cumulative subsidized Stafford, unsubsidized loans, and FFEL Program Loan amounts are:

  • $31,000 for dependent undergraduate students excluding those whose parents are unable to borrow a PLUS loan (no more than $23,000 may be subsidized)
  • $57,500 for independent undergraduate student (no more than $23,000 in subsidized)

Loan Entrance & Exit Counseling:

New students and first-time borrowers of Direct Student Loans are required to complete entrance counseling in order to receive the loan funds. The online entrance counseling can be completed at studentloans.gov. The Student Financial Services Office notifies students of this requirement by noting the information on the financial aid award notification through Net Partner and subsequent notifications by sending an email to their Bay Path University email account.

All federal student loans obtained by a student or parent are required to be reported to, and tracked on, the National Student Loan Data System (NSLDS). NSLDS loan records are accessible to all authorized NSLDS users, including schools, student loan guaranty agencies, lenders, federal agencies and other authorized users.

Loan Exit Counseling - All Direct Student Loan borrowers who graduate, drop below half-time or cease enrollment are required to complete exit counseling. The online exit counseling can be completed at studentloans.gov. When a student graduates, drops below half-time enrollment or withdraws, an exit counseling packet is mailed to the student.

Students may access their federal loan records at nslds.ed.gov.

Students with federal education loans must be enrolled at least half-time to receive loan funds and to continue to qualify for in-school loan deferment. For financial aid purposes, half-time enrollment for undergraduate students is six credits per semester. Half-time enrollment for graduate students is six credits per semester.


State Aid for Massachusetts Residents:

You qualify as a Massachusetts resident if your permanent address was in the state of Massachusetts for the 12 months immediately preceding your enrollment at Bay Path University. To apply for the following grants, you must submit the FAFSA to determine loan eligibility.

  • MASSGrant -The MASSGrant is a grant assistance program funded by appropriations from the Massachusetts Legislature. The MASSGrant program provides need-based financial assistance to undergraduate students who reside in Massachusetts and who are enrolled in and pursuing a program of higher education in any approved public or independent college, university, school of nursing or any other approved institution furnishing a program of higher education. Please Note: The Federal Processor must receive the FAFSA by May 1st, in order for the student to meet the MASSGrant application priority deadline date.
  • MA Gilbert Matching Student Grant - The Massachusetts Gilbert Matching Student Grant Program (GMSGP) makes funds available to participating Massachusetts' institutions of higher education and schools of nursing. At least one hundred percent of such funds must be used for direct financial assistance to needy Massachusetts's undergraduate students to enable them to attend or continue to attend such institutions