Since processing time of the application may take two to four weeks, other arrangements must be made for payment of the eBill by the due date. Applicants for financial aid who have not yet received an award by the due date of the eBill must pay the "Current Account Balance" and be reimbursed when the funds are received. (Funds are generally received halfway through the semester.)
All financial aid credits on the Student eBill are in anticipation of financial aid to be received by the University based upon certain qualifying criteria and obligations of the student. If the qualifying criteria are not met and/or the obligations of the student are not fulfilled, the credits will be removed from the student’s account and the student will be immediately responsible for any “Current Account Balance."
If you have questions with the amount of financial aid listed on your account, please contact the Financial Aid Office.
Federal Direct Stafford Student Loan Program
First time borrowers at FSU must sign a Master Promissory Note (MPN) and compete Entrance Counseling prior to receiving their Stafford Loan funds. Students who have not completed a MPN or Entrance Counseling must do so on www.studentloans.gov.
If a student does not complete Entrance Counseling or sign a Master Promissory Note in a timely manner, the loan credit will be removed from the account and the student will be immediately responsible for any "Current Account Balance."
All Federal Direct Stafford Loan funds will be received electronically by the University. Please note that your loan amount will be reduced by a 1.051% origination fee. (98.949% of your Stafford Loan(s) will be credited to your bill.)
Other Ways to Pay Your Balance
FSU works with a third party, interest-free, payment plan called Tuition Management Systems. Whatever amount of money that you can comfortably afford to pay per month, will help in lowering your overall borrowing.
In the current financial environment, many may find utilizing a portion of their home equity with a local bank advantageous. MEFA and PLUS loans both have attractive terms and repayment options that can spread the cost of this investment over several years.
Students who have received scholarships, grants, or loans from sources other than Framingham State University must mail or bring in the award notification letter to Financial Aid or Student Accounts. (If you are receiving a State employee waiver, it must be the original notification letter.)
On the online worksheet, you may deduct only scholarships, grants, and loans which have been verified by the granting source and which will be made payable to Framingham State University. Make the appropriate adjustment on the online worksheet.
The award letter must include the name and billing address of the award granting source. All awards are subject to confirmation from the granting source. A letter indicating that an award or loan is in process will not be accepted.
Please include your nine digit Student ID number on ALL documents.