Financing Your Education
It is our goal to help make a Tufts education
financially achievable. To that end we offer
several payment options which can be found by
navigating through the left menu. You will also find a
description of our
Student Account Calculator
in the Costs section, which will help you figure out
what your bill will look like!
Aid & Billing
Your financial aid award, excluding Federal Work Study, will be credited to your University account
at the beginning of each semester, provided that you
aid application is not missing required forms. Excess credit may be refunded only after you officially register,
classes begin, and funds have been received from outside sources (i.e., Federal Stafford Loans,
Pell grants, state
scholarships, etc.).
Work Study awards are not subtracted from the
University bill. Rather, it is funding
that is earned throughout the year by working and receiving a pay check each week
(directly deposited into a student's bank account) for the hours worked.
It is earned, and paid, once the
student is hired and begins to work. More on
Work Study is found via the link.
Federal Direct Loan disbursements are
transmitted electronically to your university
account, or paper checks are made payable jointly to
you and the university and sent to the Bursar's
Office. Half of the year's loan amount is credited
to the university account each semester. Before
loans are credited to accounts, first-time borrowers
at Tufts are required to complete a Promissory Note.
A loan counseling Entrance Interview is also a
federal requirement. Complete details on the
Direct Loan application process can be found via the
link.
Federal Perkins loans, and Tufts loans,
are automatically placed onto your university
account as estimated credit once all documents have
been submitted to complete your aid file.
These loans require that Promissory Notes be
completed in order to confirm the credit. Full
details on Promissory Notes, etc., can be found via
the link.
PLUS loans are transmitted electronically to
your university account, or paper checks are made
payable jointly to the parent borrower and the
university and sent to the Bursar's Office. Half of
the year's loan amount is credited to the university
account each semester, minus the government
fee charged. PLUS details can be found via the
link.
Borrowers have the right to request that the aid office cancel all or a portion of a
Direct or PLUS Loan disbursement within 14 days of notification from Tufts that their loan has
been credited to their University account. We encourage students and parents never to borrow
more than is necessary to meet immediate educational expenses.
If you wish to decline a loan which you have
received at Tufts, simply send your request in an
email to:
studentservices@ase.tufts.edu
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