Massachusetts No-Interest Loan

The Massachusetts No-Interest Loan is an interest-free student loan from the Commonwealth of Massachusetts awarded to full-time undergraduate students who are Massachusetts residents.

Eligibility is determined by the Office of Student Financial Services and is based on the information you provide on the Free Application for Federal Student Aid (FAFSA). This loan is awarded to students with significant financial need and is limited by the availability of program funds. If you are eligible for this loan, it will appear on your award letter.

Interest Rate	0%
Minimum Undergraduate Annual Loan Amount	$1,000
Maximum Undergraduate Annual Loan Amount	$4,000
Maximum Undergraduate Aggregate Amount	$20,000
Repayment Period	10 years
Interest Charged While Enrolled at Least Half-time	No
Repayment Begins	Six months after no longer enrolled at least half-time
Servicer	ECSI ecsi.net 1-800-549-3274
To learn more, visit:	osfa.mass.edu

What must I do to accept my Massachusetts No-Interest Loan?

If you've been awarded a Massachusetts No-Interest Loan, all borrowers at Emmanuel College must complete and sign:

a promissory note;
entrance counseling; and
a self-certification form.

Borrowers will be notified via e-mail from the Office of Student Financial Services when these documents are available. Funds will be credited to the student's account only after the completion of the required documents.

What happens after I am no longer a full-time Emmanuel student?

All students are required to complete an exit counseling prior to withdrawing, dropping below half-time status or graduating. You may complete this requirement online with ECSI.