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Financial Aid :: Types of Aid

Students who complete the aid application procedures listed above will be considered for all federal and state aid programs for which they qualify.

Federal Grants

Pell Grant (up to $5,500) grants are awarded based on need to students with FAFSA EFC's of below $4,617.
FSEOG Grant (up to $1,000) grants are awarded to undergraduates with the greatest financial need, limited funding usually available to those who complete a FAFSA before March 15.
ACG Grant (up to $1,300) grants are awarded to students who meet certain academic criteria.

State Grants

NHIP Grant is awarded to New Hampshire residents with the greatest financial need.
Residents of Connecticut: Capitol Scholarship
Residents of Massachusetts: MASS Grant
Residents of Maine: Maine Grant
Residents of Pennsylvania: PA Grant
Residents of Rhode Island: RI Grant
Residents of Vermont: VT Grant
Residents of Washington D.C: DC Grant
All other Residents: State Higher Education Agencies

Information for Veterans of the armed services

GI Bill
Post 9/11 GI Bill

Fund for Veteran Education

Federal DIRECT Loan Program

DIRECT Loans Qualified students are eligible to borrow up to the following amounts:

First Year	$3,500 +$2,000
Second Year	$4,500 +$2,000
Third Year	$5,500 +$2,000
Fourth Year	$5,500 +$2,000

Effective for loans processed after July 1, 2009, the Subsidized DIRECT Loan rate is fixed at 5.6 percent. The Unsubsidized DIRECT Loan rate is fixed at 6.8 percent.
Effective for loans starting July 1, 2008, Dependent and Independent students can borrow $2,000 through the unsubsidized Stafford Loan program.
Independent students can borrow additional amounts of $4,000 for First and Second Year and $5,000 in Third and Fourth Year through the unsubsidized Stafford Loan program.
For students who qualify for the subsidized loan, the interest is paid by the federal government while in school and for a six month grace period.
For students who don't qualify for the subsidy, the interest begins accruing at the time of the loan disbursement. Students can elect to pay the interest while in school or have it capitalize for after graduation.
Repayment begins six months after you leave school.

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DIRECT PLUS Loan

DIRECT Loans The Federal Direct PLUS loan is available through most commercial lenders.
Effective for loans processed after July 1, 2006 the interest rate is fixed at 7.9 percent.
The repayment period extends up to 10 years.

Federal Work-Study Program

Federal Work-Study students receive preference in hiring at Chester College of New England.
Students are paid monthly for hours worked, thus the amount of Federal Work-Study cannot be deducted from your tuition bill.
The entry-level wage for most jobs on campus is $7.25 per hour.
Paid community service jobs are available to Federal Work-Study students.
To search for employment, please go to the main lobby at the Lane Building

Chester Merit Scholarship

Awarded upon admission based on merit to incoming freshman, this award is limited and highly competitive. Students are selected by the admissions committee. $1,000 - $5,000 per year.

Chester Need-based Scholarship
Awarded to those students who apply for full-time enrollment and is determined by the Financial Aid Office. You must complete the FAFSA form before March 15th of each calendar year to qualify. $500 - $3,500 per year.

Other Sources of Aid
All students are encouraged to actively seek and apply for other sources of financial aid for which they are eligible. There are many community, private, corporate, and public organizations that offer scholarship and aid programs. Good sources of information include the high school guidance office, the public library, employers, and/or the internet. Students may explore opportunities at the local chamber of commerce and/or rotary club.