Frequently Asked Questions

Q: How do I apply for financial aid?

A:  In order to be considered for need based aid you must complete the Free Application for Federal Student Aid (FAFSA). Montserrat College of Art’s school code is 013774. Here is the link to FAFSA:  FAFSA.

Q: How do I apply for merit based aid?

A:  Merit based aid is determined by the Admissions office and is based upon your admissions application to the College.

Q: Do I have to apply for need based aid each year?

A:  Yes, a student should complete the FAFSA each year they are enrolled. Montserrat College of Art’s school code is 013774. Here is the link to FAFSA:


Q: What are the requirements to qualify for my merit aid each year?

A:  Students must maintain Satisfactory Academic Progress as outlined in the Student Handbook in order to qualify for financial aid.

Q: What is the deadline to apply for financial aid?

A:  The FAFSA becomes available on October 1 each year for the upcoming school year. Montserrat College of Art recommends that you complete your FAFSA by March 15th.

Q: What if I am less than full time?

A:  In order to qualify for federal aid a student must be attempting at least 6 credits per semester. If a student is less than full time merit aid is reduced proportionately.

Q: What is the difference between a subsidized federal Stafford loan and unsubsidized federal Stafford loan?

A:  The federal Stafford loans (also called Direct loans) are in the student’s name. Subsidized means that the student is not accruing interest while in school and during periods of deferment. Unsubsidized loans do accrue interest once the loan disburses to the College.

Q: What is the difference between a Stafford loan and a Parent Loan for Undergraduate Student (PLUS) loan?

A:  Both loans are federal government loans. A Stafford loan is in the student’s name and a PLUS loan can only be borrowed by a parent.

Q: What is verification?

A:  Verification is the process of confirming the accuracy of the data reported on your FAFSA. This doesn’t mean that you’ve done something wrong on your FAFSA. The federal government selects some students for verification at random. If selected for verification you will need to submit documents confirming the information on FAFSA. You will be informed when your financial aid award letter is mailed to you if this is the case.

Note: when completing the FAFSA it is best to use the IRS Data Retrieval Tool if possible. This reduces the chances of being chosen for verification.

Q: How do I pay the balance due after financial aid?

A:  To find out how to finance your balance click here

Q: Is there a payment plan available?

A:  Yes, here is a link to the company we use if you’d like to set up a payment plan to pay all or a portion of the balance due: CASHNet payment portal.

Q: What is the correct link to complete Stafford loan Entrance Counseling, Stafford loan Exit Counseling or a Stafford loan Master Promissory Note?

A:  Here is the correct link: Student Loans website.

Q: How do I apply for student employment on campus?

A:  Student employment is handled by our Human Resources office. Please follow this link for more information: Student employment at Montserrat College of Art.

Q: How do I find out how much I have borrowed in federal Stafford loans:

A:  You can log onto the National Student Loan Data Systems website to see your aggregate federal loan borrowing:  National Student Loan Data Systems website (NSLDS).

Q: I need help setting up my federal student aid USER ID and password for FAFSA. What should I do?

A:  Please call the Student Loan Support Center at 800-557-7394.

Q: Is financial aid available for Study Abroad programs?

A: Students who are matriculated at Montserrat College of Art who participate in an approved for credit Study Abroad program through Montserrat may be eligible for financial aid. Montserrat College of Art will be considered your home institution. You will need to complete the Free Application for Federal Student Aid (FAFSA) to determine if you are eligible for financial aid for the Study Aboard program.


248 Cabot Street Beverly, MA 01915 Directions | Campus Map

[email protected]

978-921-4242 X 1174
978-921-4242 X 1155

FAX: 978-922-4268

Generally, the Financial Aid Office is open Monday through Friday from 9 am to 5 pm.