We believe in helping Salter students find a way to finance their educations and reach their career goals. Our financial aid advisors will work with you to apply for financial aid if you are eligible. Our staff will also show you how to complete the FAFSA form (Free Application for Federal Student Aid). The FAFSA helps to pinpoint what financial aid options you qualify for. Once this has been determined, we can work together to set up a payment plan that works for you.
Researching which financial aid programs you qualify for is the first step in putting together a plan to finance your education. There are federal programs, state programs, private loans, and in-house financing plans that we can help you research. Our financial aid advisors are here to help you sort through the possibilities.
Financial Aid Options
Understanding Grants and Loans
There is an important distinction between a grant and a loan:
- Loans are borrowed money. They are awarded to qualified students, and they must be paid back with interest.
- Grants are awarded to qualified students. They do not have to be repaid. The application process for grants is usually more competitive than for loans.
Federal Student Aid
The largest source of the federal government’s financial assistance for post-secondary education is the Federal Student Aid (FSA) program. Under the FSA program are several grant and loan options that you may want to consider. These include Pell grants, Stafford loans, PLUS loans, and Federal Supplemental Educational Opportunity Grants (SEOG).
To determine whether you qualify for these programs, you will need to complete the Free Application Form for Federal Student Aid (FAFSA). The financial aid advisors at Salter can help you with this form as well as the applications for the FSA programs.
The Federal Student Aid (FSA) programs available to students at the Salter School are made available through the U.S. Department of Education and Title IV of the Higher Education Act of 1965, as amended. Availability for financial aid can change, based on state and federal regulations.
Massachusetts State Grant (MASSGrant)
The MASSGrant is one possibility for state aid. Eligibility is determined by the Massachusetts Office of Student Financial Assistance. A student must be a Massachusetts resident and enrolled full-time to qualify. The awards vary in amount and the application deadline is May 1.
Massachusetts Foster Child Grant
The Massachusetts Foster Child grant is specifically for people who are foster children. Eligibility is determined by the Massachusetts Office of Student Financial Assistance. A student must be a resident of Massachusetts, under the custody of the Department of Social Services through a Care and Protection Petition, and not be over the age of 24.
Tax-payer credits are one way that the IRS offers incentives for people to get an education. You (or your parents, if you are a dependent) may qualify for tax credits for your educational expenses. To learn more about this possibility, visit the Tax Benefits for Education Information Center.
GI Bill® Educational Benefits
The Massachusetts Department of Higher Education, under Title 38 United States Code, has approved the programs at the Salter School for GI Bill educational benefits. If you are a veteran and want more information on how to apply for these benefits, please speak with our financial aid advisors, or visit the GI Bill national web site.
Salter School offers a monthly installment plan for students who require it. Our financial aid advisors will be happy to discuss how to set up the monthly payments of your tuition and fees.