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The College offers a program of financial assistance through scholarships, grants, loans, and college employment.

Prospective students must be officially accepted into a degree program at the College before their applications for financial assistance will be considered. Students must be enrolled for at least 6 credits for each semester (for ADP and On-Line BBA courses, that would be a minimum of one course per consecutive module) in order to receive aid (except for the Pell Grant, which may be received with only 3 credits as long as the student meets eligibility requirements).

Students applying for any federal, institutional, or state aid must submit the Free Application for Federal Student Aid (FAFSA) for processing as soon as possible after January 1. You should complete and submit the FAFSA online at http://www.fafsa.ed.gov/. The Title IV code for Western New England College is 002226. If you are unable to apply online, obtain a form from Student Administrative Services (SAS) or your high school guidance counselor. In addition, all students and parents of dependent students must submit a signed copy of their most recent federal income tax return and all W-2 forms. Families who receive nontaxable income must supply evidence of their nontaxable income.

NOTE: There is no institutional financial aid application.

All students must re-apply for financial aid each year, and aid in any year does not guarantee aid in subsequent years. Application forms for returning students must be received by Western New England College before April 15 in order to receive priority consideration. Therefore, students are encouraged to submit the required forms as early as possible. Late applicants may be considered for financial aid if sufficient funds are available.

The financial aid staff are part of the Student Administrative Services Office (SAS). The office can be contacted at:

Student Adminstrative Services
1215 Wilbraham Rd.
Springfield, MA 01119-2684
Phone: 413-796-2080 or 800-325-1122 ext. 2080
Fax: 413-796-2081
Email: finaid@wnec.edu.

ALL federal loans must be obtained through the College via the Federal Direct Student Loan program. Federal Stafford Loans obtained elsewhere are not accepted at Western New England College.

The sources of financial aid that may be awarded to the student through the College with the FAFSA filing and offered on the Financial Aid Award Letter are:

Merit Aid
Merit-based scholarships are awarded based on exceptional high school or transfer academic achievement and/or leadership experience of applicants. All students are automatically considered for merit aid during the admissions process. See Scholarship Information.

Need-Based Aid
A limited number of need-based scholarships are awarded annually. All students are automatically considered for need-based scholarships when they apply for financial aid. See Scholarship Information.

International Students
A limited number of scholarships ranging from $10,500 to $14,000 are available. See International Scholarship Information.

Federal Pell Grants
Federal Pell Grants are awarded to undergraduate students demonstrating financial need. Eligible students may receive up to $5,350 each year.

Federal Supplemental Educational Opportunity Grants
Supplemental Educational Opportunity Grants are awarded to a limited number of undergraduate students with extreme financial need. These grants range from $200 to $4,050 each year.

Federal Perkins (National Direct Student Loans)
The College has established and administers a Perkins Student Loan Fund. Eligible students may borrow amounts not exceeding $6,000 aggregate for pre-baccalaureate, and $12,000 aggregate for all undergraduate and graduate years.

Federal Direct Ford Student Loans
Eligibility for a subsidized loan is based on financial need as determined by the FAFSA. If a student does not qualify for a need-based subsidized loan, they automatically qualify for the same loan limits through the unsubsidized loan. The interest that accrues during periods of enrollment for a subsidized loan is paid by the federal government. The interest that accrues during periods of enrollment for an unsubsidized loan is paid by the student. Freshman students are granted a need-assessed award of $3,500 per year, sophomores are granted a need-assessed award  of $4,500 per year, juniors and seniors are granted a need-assessed award of $5,500 per year. All students can opt to borrow up to $2000 as an unsubsidized loan in addition to the initial need-assessed award.  The total amount that undergraduates may borrow is $31,000. Independent students may borrow, through the unsubsidized loan, an additional $6,000 in their first and second years, and $7,000 in their third and fourth years. Beginning July 1, 2006, the rate of the subsidized and unsubsidized loans will be a fixed 6.8%.

State Scholarships
The state of Massachusetts awards financial aid to needy students.

Federal Work Study/Campus Employment
Federal work study, a need based financial aid award, or institutional work, funded by the College, allows a student to earn money to meet educational expenses by working part-time in a campus job. The money earned by participating in a work program does not need to be repaid. Students receive a paycheck from the College for the hours worked. Job fairs, each September, and the Human Resources Department help students identify the most suitable campus employment. Normally, annual work awards range from $800 to $2,400, requiring 7-15 work hours per week, and the student may work as little or as much as acceptable with their College supervisor, up to the awarded amount. 

Click on the link to see the Work Study pay rate chart.  Click here for an idea of how many hours per week you might work with different awards and pay rates.    For the Work Study payroll periods and paydays, click here.

Sibling Discount
A $1000/year discount is available to each sibling when a family has more than one full-time undergraduate child attending Western New England College. Please notify SAS each year, if qualified.

Students are advised to take advantage of the low interest Federal Direct Ford Student Loans and other aid obtained through the regular financial aid application process at the College as described above. Beyond the financial aid awarded to students, there are a variety of options offered to students and parents to finance the remaining educational costs. For guidance on calculating how much to finance, click here.

Outside Assistance/Scholarships
Many scholarship and financial assistance programs are available to deserving students through local and state civic groups, clubs, and organizations. Students are urged to seek out such programs in their local areas. You can access a variety of scholarship search sites as well. Many sites discuss the financial aid process and federal funding in detail. Please forward copies of all letters or notices confirming external scholarships to the Student Administrative Services office as required financial aid information. Again, discussions of Federal Stafford Loans do not apply at Western New England College.

Payment Plans
Families should consider what they can afford to pay out of pocket prior to borrowing the remaining educational costs. This helps minimize the debt burden on students and parents. The College offers two payment plans. Information and applications for these plans are available by clicking here.

Parent Loans
There are several high quality parent loan products to choose from. The College does not endorse any preferred lender.  The following loan options are a partial list of lending sources and parents are encouraged to compare loan attributes of any loans they choose to pick the loan that is right for them:
 

  • Direct Plus Loan.  With this loan option, parents of dependent undergraduate students may borrow up to the cost of attendance, minus any other financial aid resources. The interest rate for the Plus loan is a fixed 7.9%.
  • It is important to account for a 2.5% origination fee that the government witholds when they disburse the loan. Increase the requested amount by at least 2.5% in order to cover any anticipated balance.
  • Repayment begins 60 days after the loan is disbursed, but parents can choose to defer repayment until 6 months after the student departs school. Applications for this loan can be downloaded and printed by clicking here.  Completed applications can be faxed to the SAS office at 413-796-2081, or mailed.

If the parent's application is denied, the student is eligible to borrow an additional amount through the Unsubsidized Direct Ford Student Loan simply by notifying the SAS Office.

Note: The College requires a completed FAFSA in order to secure a Plus loan.

  • MEFA Undergraduate Loan - This loan has a good fixed rate with a deferment option. It can be obtained by any adult- parent, relative, friend of the family, and co-signed by the student.

Visit ELM Select for loan listings that allows comparison of private loans such as the MEFA Undergraduate parent loan and the student loans listed below.

Student Private Loans   
(The federal Stafford/Ford loans are only available directly through the College)
There are many, high quality student loan products to choose from. The College does not endorse any preferred lender.  The following loan options are a partial list of lending sources for your reveiw.  Student loans are typically higher priced than loans for parents.

Some allow deferring payments until after graduation. Deferring payments does raise the cost of the loan. Freshmen are almost always required to use a cosigner, while all others may be eligible without one. However, the cost of the loan is always lower with a cosigner.  

Again, visit ELM Select for loan comparisons.