The Financial Aid team is here to help guide you and your family through the financial aid process and to assist you in understanding the funding for which you may be eligible. Nichols College offers both need- and merit-based aid to help lower the cost of your education. If you have any questions, please contact our office at 508-213-2288 or SFS@nichols.edu and a team member will happily assist you.
Why complete the FAFSA?
We use the FAFSA information to determine your eligibility for federal, state and institutional need-based financial aid. You can file your FAFSA after October 1st. Our priority deadline for filing the FAFSA is March 1st. Each state has a FAFSA filing deadline. It is important to meet the March 1st filing deadline since filing your FAFSA late can affect the amount of financial aid you will receive. Late applicants may miss opportunities for state or other sources of aid.
How do I complete the FAFSA?
Log on to www.fafsa.ed.gov with your FSA ID. Each year the FAFSA is available starting October 1st. You can complete your FAFSA using your prior-prior year’s tax information. For example, if you are applying for financial aid for the 2020-2021 academic year you would complete the FAFSA with 2018 tax information.
We highly recommend applying for enough to cover the cost of attendance for the full year. If you need assistance determining the amount to borrow, we recommend you contact Student Accounts.
FEDERAL DIRECT LOANS
The Federal Direct Loan program is a federally funded loan program. The maximum loan amount varies depending on your year in school. Repayment of the Federal Direct Loans begins 6 months after the student graduates, withdraws from school, or is enrolled less than half-time. By completing the FAFSA each year, you are automatically applying for the Federal Direct Loans. Borrowers must complete a Federal Direct Loan Master Promissory Note (MPN) and first-time borrowers must also complete Federal Direct Loan Entrance Counseling.