Financial Aid
Our Student Financial Services team is dedicated to helping families afford Montserrat. If Montserrat is the right fit for you, the “sticker price” should not deter you from applying.
With Montserrat’s merit and need-based awards, the cost of attending Montserrat is often comparable to that of attending a state-supported college. Montserrat addresses financial need through a combination of Montserrat scholarships, federal grants and loans, and state and private grants and scholarships.
All applicants receive merit scholarship consideration, and the vast majority of our applicants ultimately receive a merit award.
Our preferred filing date for the Free Application for Federal Student Aid (FAFSA) is March 1st though we continue to review applications for aid well after that date. Applications received after March 1st will be reviewed on a funds available basis. Please note that the FAFSA must be completed each year that a student wishes to be considered for federal, state, and institutional need based aid.
- Montserrat College of Art’s FAFSA school code is 013774.
- If chosen for verification documents are due by July 1 BEFORE the school year begins.
All applicants who complete requirements for admission by preferred deadlines are eligible to be considered for one of Montserrat’s merit-based scholarship opportunities. These scholarships are based on the applicant’s portfolio and academic achievement. Students are informed of their Presidential Scholarship in their acceptance letter for admission.
Full Tuition Scholarships
Montserrat College of Art offers a limited number of full tuition scholarships to those students who have significant academic achievement, demonstrate strong artistic talent and showcase qualities that prove they are an ideal match for Montserrat’s environment both in and outside the classroom. Students are automatically considered for Montserrat’s Full Tuition Scholarships when they apply for admission to the College and are notified of this achievement in their acceptance letter.
William and Mary Wasserman Scholarship
The William and Mary Wasserman Scholarship is an $20,000 yearly award, renewable for four consecutive years for a total of $80,000. Montserrat is proud to present this scholarship for up to three students on an annual basis. Eligible students must exhibit strong artistic and academic achievement, and they must also demonstrate high need for financial support and come from a diverse background. Each year, the recipient(s) will be selected at the time of admission to the college and will be notified of the award in their acceptance letter. A longstanding Board of Trustee member, Bill Wasserman is dedicated to providing opportunities for underserved students while enhancing the creative culture of Montserrat’s student body.
Beverly Scholarship
Montserrat College of Art offers all Beverly citizens who meet the admission requirements for the 2020/2021 academic year, a $20,000 scholarship each year for 4 years if they enroll as a full-time student. This applies to permanent citizens of Beverly who have lived in Beverly for a minimum of 2 years prior to attending Montserrat. This special scholarship is in recognition of the College’s interest to give back and educate artists in our community. This scholarship directly reduces the amount of any merit-based award.
NOTE REGARDING ABOVE SCHOLARSHIPS: Students who complete a FAFSA are also considered for additional need-based grant awards. Students who are awarded institutional financial aid (merit-based scholarships) must be full-time students, carrying a minimum of 12 credits, to receive the full award commitment from the college. Students who are awarded merit-based scholarships, but are carrying less than 12 credits, will have their institutional award prorated by their level of participation. Students must carry a minimum of 6 credits to qualify for institutional financial aid.
Montserrat College of Art recommends that our students and parents consider all federal loan options before considering an alternative loan. The US Department of Education provides information on the differences between Federal and private loan programs on their website: Federal Student Aid.
For students: A subsidized federal loan is a need based loan. The federal government subsidizes the interest while you are in school and during authorized periods of deferment.
An unsubsidized federal Direct Stafford loan is not a need based loan. You will be charged interest on the portion that disburses to Montserrat College of Art (generally ½ in the fall and ½ in the spring).
New students must complete a Master Promissory note and complete Loan Entrance Counseling before a loan can be disbursed.
| Costs | Per Semester | Per Year |
| Tuition * | $18,100 | $36,200 |
| General Fee ** | $825 | $1,650 |
| Health Insurance
Required by MA law unless otherwise insured for domestic students. Required without exception for international students. Please note, the current Health Insurance cost is an estimate based on the 2021/2022 pricing. |
– | $3,549 |
| Costs | Per Credit | Per Year |
| Tuition * | $1,510 | – |
| General Fee ** | $69 | – |
| Health Insurance
Required for students enrolled in 9 or more credits. Required by MA law unless otherwise insured for domestic students. Required without exception for international students. Please note, the current Health Insurance cost is an estimate based on the 2021/2022 pricing. |
$3,549 |
| Housing | Per Semester | Per Year |
| Double Room | $5,900 | $11,800 |
| Single Room | $7,725 | $15,450 |
| Triple Room | $5,100 | $10,200 |
| Additional Fees & Deposits | One Time Charges |
| Orientation Fee
New Students Only |
$200 |
| Graduation Fee
Graduating Seniors |
$125 |
| Art Supply Starter Kit
New Students Only |
$1,000 |
| Housing Damage Deposit (refundable) ***
Refunded Upon Graduation or Withdrawal from the College |
$300 |
| Tuition Deposit +
Required for All Newly Admitted Students |
$250 |
| Housing Deposit +
Non Refundable or Transferable |
$275 |
| Application Fee
Due to Admissions when you Apply |
$50 |
| Transcript Fee
Per Copy of Transcript Requested |
$5 |
| Late Fee
Per Semester that Payment is Received After the Due Date |
$125 |
The tuition costs for full-time students apply to those enrolling for 12 to 18 credits (four to six courses) for the semester. Students enrolling for nine or fewer credits (three or fewer courses) are considered part-time students and pay tuition based on the number of credits elected. For students enrolled in more than 18 credit hours will be charged per credit hour and added to the full-time charge.
*** Not to be confused with the $275 non-refundable housing deposit for incoming freshman and transfer students.
+ All tuition deposits for newly admitted students for the fall semester, are non-refundable after May 1 and are deducted from the final bill. Housing deposits are always non-refundable and non-transferable.
UNDERSTANDING YOUR CHARGES
General Fee: The general fee includes non-academic costs for direct services such as registration, communication and network services, student activities, museum memberships as well as student health and wellness services. Occasionally, courses may require additional fees to cover special materials that students use in class. If special fees are to be assessed, they will be listed in the course syllabus. Courses in graphic design, computer design, photography, printmaking, and sculpture might fall into this category.
Housing Fees: A housing deposit fee is required to secure placement in college housing, and a security deposit charge is assessed during the first semester of occupancy. The housing deposit is non-refundable. College housing fees are paid by semester and are included on the semester tuition bill. The housing fee covers the semester rental, security and all utilities.
Health Insurance: Massachusetts state law requires that all students enrolled for nine credits or more be covered by a medical insurance plan. For students who do not have medical insurance coverage, Montserrat provides a plan for basic health and accident coverage. This health insurance fee is automatically added to the first semester’s tuition bill. If covered by a comparable or better health insurance plan, the student may deduct the health insurance amount from the tuition bill and submit a completed health plan insurance waiver along with the initial tuition payment. *Amount subject to change
Orientation Fee: All new incoming students are required to pay an orientation fee that helps support orientation activities.
Graduation Fee: All graduating seniors are required to pay a graduation fee that helps support commencement activities.
Art Supply Starter Kit: As a service to all new students, Montserrat prepares a comprehensive package of recommended art materials and books. This art supply starter kit includes more than 100 items and provides most of the basic materials needed for the foundation year. Because we purchase these supplies in quantity, we are able to provide these materials at approximately 20 percent less than retail. The college reserves the right to adjust costs and fees it deems necessary without prior notice.
1. Make payments directly to Montserrat College of Art
2. Set up a Tuition payment plan
3. A Parent Loan for Undergraduate Students (PLUS)
4. A private loan
For more information, click here.
Complete the following forms only if requested by the SFS office:
2022/23 Verification Worksheet (PDF): This form is required for all dependent and independent students selected for verification to finalize their aid package for 2022 – 2023.
Satisfactory Academic Progress (SAP) Policy (PDF): Students who receive financial aid are subject to the satisfactory academic progress policy.
Return to Title IV Policy (PDF): Students who withdraw or take a leave of absence from the college and are receiving federal financial aid may be subject to the federal Return of Title IV Aid and state financial aid return policies.
Federal Verification Policy (PDF): Students who are selected for verification, either by the Federal government or by the college, are subject to the Federal Verification policy.
Student Rights and Responsibilities (PDF): All students, especially those receiving financial aid, are subject to the Rights and Responsibilities policy.
Consumer Loan Disclosure (PDF): Students who borrow funds through the Title IV Federal loan program are subject to the consumer loan disclosure policy.
FERPA: FERPA (Family Educational Rights and Privacy Act) is a federal law that protects the privacy of student education records. FERPA prohibits an educational institution from disclosing a student’s education record without the consent of the eligible student.
Veterans Benefits and Transition Act of 2018: Under S2248 PL 115-407 Section 103, Montserrat College of Art will not impose a late fee, denial of access to facilities, or other penalty against a veteran or eligible dependent due to a late payment of tuition and/or fees from the VA up to the certified benefits amount. Any portion of the balance not covered by VA benefits is still expected to be settled by the due date.
Meeting the minimum requirements is essential to a successful educational experience – increasing the specifications beyond the minimum required can prove helpful over the course of the program, especially for students that have an interest in digital concentrations and may need a high-performance computer as their work progresses over the years. Montserrat provides the full Adobe Creative Cloud Suite ($50/mo value) and Microsoft Office Suite for the duration of your time here.
Here are some suggested Models
If you have financial concerns, please reach out to the Financial Aid office to discuss options: sfs@montserrat.edu
Other helpful links:
CONTACT INFORMATION:
FINANCIAL AID
248 Cabot Street Beverly, MA 01915 Directions | Campus Map
978-921-4242 X 1174
OR
978-921-4242 X 1155
FAX: 978-922-4268
The Financial Aid Office is open Monday through Friday from 9 am to 5 pm.
FAFSA PREFERRED FILING DATE MARCH 1ST
