Terms and Conditions

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.

Award Review

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. 

University Withdrawal

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.

Return of Title IV Funds

Students earn Title IV federal financial aid by attending and participating in classes. The amount of Title IV aid a student has earned for the enrollment period is based on the percentage of time the student remains enrolled for that period.  The earned percentage is calculated by dividing the numbers of days within the enrollment period by the number of days attended.  Once a student earns 60%, the student is considered to have earned 100% of Title IV federal aid and no adjustments are required.

The last date of attendance (or withdrawal date) is determined by the date the student officially submits the withdrawal form to the University, or otherwise notifies the University of his/her intent to withdraw.

The calculation of Title IV funds earned by the student has no relationship to the student's incurred institutional charges.

Federal Title IV funds will be returned in the following order:

  1.  Federal Direct Unsubsidized Stafford Loan
  2.  Federal Direct Subsidized Stafford Loan
  3.  Federal Perkins Loan
  4.  Federal PLUS Loan / Federal Graduate PLUS Loan
  5.  Federal Pell Grant
  6.  Federal Supplemental Educational Opportunity Grant (FSEOG)
  7.  Federal TEACH Grant

Federal Work Study earnings are not included in the return of funds calculations.  Students may not continue working once they cease attendance.

Any unearned Title IV funds required to be returned will be processed within 45 days of the student’s withdrawal date.

Unofficial Withdrawals

An unofficial withdrawal occurs when a student enrolls in courses and either never attends any courses or stops attending all courses at some point during the semester without providing official notification to the University.  Students receiving Title IV federal aid who unofficially withdraw will have their aid recalculated in the same manner as an official withdrawal.

For a student who unofficially withdraws, the University determines the last date of attendance based on the student’s last date of an academically related activity.  If the student never began attendance, the student must repay all financial aid disbursed.

Post Withdrawal

A student may be eligible for a post-withdrawal disbursement of federal Title IV aid if the return of funds calculation indicates the student earned more aid than was disbursed prior to the student’s withdrawal. Post-withdrawal disbursements of Title IV grants must be completed within 45 days of the student’s withdrawal date, and any loan funds accepted by the student within 180 days of the student’s withdrawal date.

Return of Non-Title IV Funds

The university will calculate return of non-Title IV funds in accordance with the appropriate state and institutional refund policy. Massachusetts state funds are calculated based on the Massachusetts Office of Student Financial Assistance (OSFA) policy guidelines.

Institutional funds will be returned on a case-by-case basis following appropriate administrator review of aid earned and balance due.

Maintaining Eligibility

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 housing@umb.edu.

Tax Implications

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.