Types of Financial Aid
Lawrence Memorial/Regis College commits to helping qualified students reach their educational goals by providing a variety of financial aid programs and resources.
Grants and Scholarships
Federal Pell Grant: The Pell Grant is a need-based grant from the federal government for students with significant financial need. The amount of the Federal Pell Grant is based on the student’s Expected Family Contribution (as determined by the FAFSA) and enrollment status. Students with a prior Bachelor’s Degree do not qualify for the Pell Grant.
Federal Supplemental Educational Opportunity Grant (SEOG): The SEOG Grant is a need-based grant from the federal government and is awarded on a very limited basis to Pell Grant recipients. Students with a prior Bachelor’s Degree do not qualify for the SEOG Grant.
Mass Grant: The Mass Grant is a need-based grant from the state of Massachusetts that is based on the student’s Expected Family Contribution (as determined by the FAFSA) and residency. Students must be enrolled full-time (12+ credits) and complete by the FAFSA by May 1st to qualify. Students with a prior Bachelor’s Degree do not qualify for the Mass Grant.
Massachusetts Gilbert Grant: The Gilbert Grant is a need-based grant from the status of Massachusetts. Funds are limited and awarded to students who are enrolled full-time (12+ credits) and are Massachusetts residents. Students with a prior Bachelor’s Degree do not qualify for the Gilbert Grant.
Massachusetts Part-Time Grant: The Massachusetts Part-Time Grant is awarded on a funds-available basis to Massachusetts residents who are enrolled part-time (6-11 credits). Students with a prior Bachelor’s Degree do not qualify for the Massachusetts Part-Time Grant.
Wennerstrom Scholarship: Scholarship awarded to students in the first semester of the Nursing Program. Information and application is mailed to students before they start the nursing program. Scholarship is renewable (provided the renewal requirements are met).
Tuition Remission: A 25% tuition discount on nursing and radiography courses is available to eligible Hallmark Health employees and their immediate family members (spouse and children). To qualify, the employee must have worked for Hallmark Health at least 22-½ hours per week for a period of six months or more and must continue employment (at least 15 hours/week) during the enrollment period. Employees are also eligible for tuition reimbursement for non-nursing or non-radiography courses in accordance with Hallmark Health policy. Questions regarding tuition reimbursement should be directed to the Human Resources Department.
Private Scholarships: Students are encouraged to seek private scholarships to help reduce the cost of education. More information can be found here Private Scholarship Flyer.
Federal Direct Stafford Loans: Federal Direct Stafford Loans are available to students who are enrolled at least half-time.
- The Subsidized Federal Direct Loan is available to students who demonstrate financial need. The interest is paid (subsidized) by the federal government while the student is in school and during a six-month grace period after the student ceases to be enrolled at least half-time.
- The Unsubsidized Federal Direct Loan is available to students who do not demonstrate financial need. The student is responsible for the interest that accrues on the unsubsidized loan during enrollment, grace, and repayment periods.
Maximum Annual Federal Stafford Loan Limits*
- First Year Students: $5,500 (Dependent Student) / $9,500 (Independent Student)
- Second-Year Students: $6,500 (Dependent Student) / $10,500 (Independent Student)
To accept the Federal Direct Stafford Loan, all first time borrowers at Lawrence Memorial/Regis College must complete the Master Promissory Note and Entrance Counseling at www.studentloans.gov.
Federal Perkins Loan: Federal Perkins low-interest (5 percent) loan funds are provided to Lawrence Memorial/Regis College by the federal government. The Perkins Loan is limited and awarded on a funds-available basis.
Federal Nursing Student Loan: The Nursing Student Loan is low-interest (5 percent) loan funds are provided to Lawrence Memorial/Regis College by the federal government. The Nursing Student Loan is limited and awarded on a funds-available basis.
Federal Direct Parent Loan for Undergraduate Students (PLUS): The PLUS loan is available to creditworthy parents of dependent undergraduate students, and is not based upon financial need. Parents may apply at www.studentloans.gov.
Private Loans: We encourage students to borrow federal student loans before applying for private loans, because they may be more favorable. However, students who need financing beyond the federal loan limits may borrow with a private educational loan. Interest rates typically vary based on the borrower’s credit. Although not always required, students should consider adding a co-signer with a strong credit history. Adding a credit-worthy co-applicant typically results in a lower interest rate and increased chance of approval.
For a list of private loans, please visit: http://www.finaid.org/loans/privatestudentloans.phtml
To view information on Lawrence Memorial/Regis College’s Loan Financial Aid Code of Conduct.
Federal Work Study (FWS): FWS is a federally subsidized program that provides job opportunities to help students with educational expenses. Students must apply for financial aid, and have demonstrated financial need to qualify. Students who are interested should visit the Financial Aid Office.
Feel free to contact the Financial Aid Administrator with any questions.