Financial Aid Policies

Available Financial Assistance

• The MGH Institute abides by the federal financial aid policies and regulations as required by the US Department of Education. For more information you may access the Department of Education's Guide to Federal Financial Aid online.
• Your Financial Aid Award Letter may contain any combination of scholarships, and/or Federal Stafford Loans.  Students must independently apply for Federal GradPLUS Loans and private alternative loans.  All MGH Institute financial aid decisions are made on an academic year basis. Students must reapply each year and meet established deadlines in order to receive aid in subsequent years. Renewal of financial aid is dependent upon students meeting satisfactory academic progress requirements and all other eligibility criteria.
• The type and amount of future aid will depend on calculated financial need and available funding levels. Financial aid may be higher or lower in future years if family circumstances or the MGH Institute’s ability to provide assistance changes.
• A student’s financial aid file will be reviewed once it is complete and the student has been accepted into his or her degree or certificate program.
• Applications received after the priority deadline will be processed continually and funding will be awarded on a first-come, first serve basis.
• The Office of Financial Aid maintains ten business days to process student requests.
• Available via website are links to possible federal, state, local, private and institutional financial need-based and non-need based assistance programs, and for each program a description of:
  o Application form and procedures
  o Student eligibility requirements
  o Selection criteria
  o Criteria for determining amount of student’s award
• Rights and responsibilities of students receiving Title IV and other financial aid, including criteria for continued eligibility
• Satisfactory academic progress standards and criteria to reestablish eligibility if student fails to maintain satisfactory academic progress
• Method and frequency of financial aid disbursements
• Terms of any loans received, sample loan repayment schedules, and the necessity for repaying loans
• Exit counseling information required to be provided to student borrowers of the FFELP. This information is available upon request from the Office of Financial Aid, in the MGH Institute Financial Aid Award Packet, or online at this website.

Communication with Financial Aid Staff

Returning students are required to check their mghihp.edu address daily to ensure they receive current information pertaining to financial aid.  Prospective students and currently enrolled students are welcome to contact the Financial Aid Office at jcoakley@mghihp.edu or 617-724-6332 regarding any questions, concerns, or to schedule an appointment. 

Annual FAFSA Application

The FAFSA must be filed every year in order to determine federal loan eligibility. The FAFSA application is available online.  The MGH Institute of Health Professions Federal School Code for FAFSA application is G22316.

Eligibility for Federal Financial Aid

• Enrollment in a college or university academic program at least half-time
• US citizenship or eligible residency
• Satisfactory Academic Progress
• No unresolved defaults on federal education loans
• for complete eligibility requirements see Guide to Federal Financial Aid

How Financial Aid Awards are Determined

Federal financial aid awards offered through MGH Institute, being Federal Stafford Loans, are determined by using the student's Family Contribution (FC) and the student's total Cost of Attendance (COA). The federal FC is derived from information reported on your Free Application for Federal Student Aid (FAFSA).  The student's COA is determined annually and may be found on the main financial aid webpage.  Only the subsidized portion of a Federal Stafford Loan is based on FC.  For example: graduate students are awarded Stafford Loan totalling $20,500; this includes federal limits of $8,500 for subsidized* and $12,000 for unsubsidized**. 

*  See Federal Guide for Federal Subsidized/Unsubsidized Stafford Loan information. 

How Financial Aid Awards are Determined
A student’s financial need is determined as follows:

        Cost of Attendance
     -  Family Contribution (FC)
     = Student’s Financial Need

Your need may be met in full or in part with a combination of scholarships, loans, graduate assistantships and/or grants, depending on available funding levels.

Eligibility Verification

One-third of all students applying for financial aid are randomly selected by the federal government to provide documentation to substantiate the information that they provided on the FAFSA. Should a student be randomly selected during the academic year, the Financial Aid Office will contact him/her and request the necessary information. The documentation required includes signed copies of the student’s (and spouse if applicable):

• 2008 federal tax return documentation to include one of the following:
  o 1040, 1040A or 1040EZ, plus all attachments
  o tax form from the IRS listing all your tax information
  o a tax return from Puerto Rico
  o a foreign income tax return
• 2008 W-2 forms
• 2009 Verification Worksheet (PDF)

If you are selected for verification, please respond promptly. Financial Aid for students selected for verification cannot be finalized until the verification process has been completed.

Over Award

Federal Refund Policy

Enrollment Status and Deferment

Changes in Family Circumstances

You are encouraged to report in writing any changes in family financial situations to the Office of Financial Aid. Examples of changes might include loss of income or benefits, major medical expenses, divorce/separation, or death. Such change s could increase your eligibility for financial assistance. When writing, please include as much detail and documentation as possible.  Feel free to schedule a meeting with the Director of Financial Aid if preferred - Elayne Peloquin at (617) 724-6356.

Satisfactory Academic Progress/ Financial Aid Eligibility

Consumer Information Disclosures