In an effort to distribute limited funds in a fair and equitable manner, UMass Boston awards grant aid based on equity. The equity formula for grant awards is the cost of tuition + fees minus Expected Family Contribution (EFC) as calculated via the FAFSA application. Initial financial aid award packages for undergraduate students are based on the cost of 12 state supported credits each semester. Graduate student financial aid packages are based on the cost of 6 state supported credits each semester.
At the end of the add/drop period the Financial Aid Office will place a service indicator (FEH) on student records where actual enrollment is different from the enrollment upon which the award was based. Financial Aid staff will review student award packages and adjust aid based on actual enrollment and remove the service indicator.
Students whose enrollment is less than the anticipated enrollment, as well as those enrolled in continuing education courses, may see an adjustment in financial aid awards as the costs for these courses is different than the costs upon which the original award was based. Financial Aid Services will email students regarding award changes; however students are encouraged to check WISER often to keep abreast of award offers and changes.
In addition to enrollment changes, a FEH service indicator will be placed on student records while the following is being reviewed:
- Change in residency
- Change in grade level
- Change in housing status
- Change in degree status
- Change in graduation term
Satisfactory Academic Progress
Students on probation status for satisfactory academic progress will have a FSP service indicator placed on their record to prevent disbursement of aid for periods of enrollment beyond the probationary semester. The FSP hold will be removed once satisfactory academic progress has been achieved. Students on probation are reminded that maintaining satisfactory academic progress is a federal requirement. Failure to meet the standards will result in loss of financial aid awards.
Coordination of Resources
Students receiving internal or external scholarships, stipends, assistantships or other payments toward education expenses must notify the Financial Aid Services Office.
Federal regulations require the financial aid office to coordinate internal and external awards with other financial aid awards received. Tuition credits, fee waivers, and scholarships are incorporated into the financial aid award and may reduce financial aid funds already awarded. Receiving tuition credits, fee waivers, and scholarships designated to assist with tuition costs will result in a reduction of equity grant aid first.
This allows us to maintain the aforementioned equity formula.
When incorporating other external assistance, if the student's financial need has been met with financial aid funds, it is the university’s policy to reduce aid in the following sequence: student loans, work study, and, finally, grant aid.
Students who withdraw from the university or drop all courses after the add/drop period but before the end of the semester will be subject to federal return of Title IV, state and institutional refund calculations. These regulations determine how much of your financial aid awards are earned at the time of withdrawal.
Financial Aid Services will notify withdrawn students via mail when aid has been adjusted due to withdrawal. Prorated financial aid awards may result in a balance owed the university.
Students who withdraw from the university during the fall semester will have their aid cancelled for the spring term.
If you reenroll in the spring semester your financial aid will be reinstated based on availability of funds.
Students contemplating withdrawing from the university are strongly encouraged to speak with staff at the One-Stop, a financial aid counselor, or an academic advisor about the impact of this decision.
Financial aid awards are offered based on the information available at the time of the award. Students are expected to maintain eligibility throughout the year. If you fail to meet federal, state or institutional eligibility criteria your awards will be cancelled.
Common eligibility failures include:
- student loan default
- non-degree status
- change in program/plan
- change in career
- course load requirements. Some financial aid programs require full-time enrollment (12 or more credits) while others require half-time enrollment (6 or more credits). Audited courses do not count toward enrollment.
On-Campus Living Proration Policy
A student who leaves the residence hall may see changes to their financial aid and/or meal plan charges. It is important to review this policy to ensure you fully understand your financial obligations.
The Office of Housing and Residential Life handle all inquiries and decisions regarding licensing agreements for room charges. They can be reached at email@example.com.
Grant and scholarship aid that exceeds the cost of tuition, fees, books, and required equipment may be considered taxable income. UMass Boston provides each student with a form 1098-T for the prior calendar year. This form totals the student's institutional charges for tuition and fees as well as a total for grants and scholarships. Please refer to IRS Publication 970: Tax Benefits for Education (available at www.irs.gov) or contact a tax professional for additional information.