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Frequently Asked Questions

 

What is the average debt of Babson students at graduation?

Babson MBA students borrowing for educational expenses graduated with an average debt of $56,680 in 2013.

What will happen to my financial aid if I live with my parents?

If we assumed that you would be living on your own but instead decide to live with your parents, your financial aid may be reduced because your costs are lower.

What can I do in case of a financial emergency?

Contact Student Financial Services if an emergency arises. Requests should be made only for unanticipated expenses. Emergency funds will not be granted for Babson’s tuition and fees.

What can I do if my financial situation changes?

If there is a significant change in your financial circumstances, please contact your Student Financial Services counselor. Your SFS counselor will advise you about any resources that might be available in the short-term or the long-term.

What financial aid can I expect in future years?

You will be eligible for a similar level of assistance as you received your first year, provided that funds are available and that you continue to demonstrate financial need, submit an application by the deadline, and maintain satisfactory academic progress.

How many credits do I need to take each semester to receive federal loans?

Students need to maintain half-time status (6 credits) each semester in order to receive federal loans. There are private loan options available for students who are less than halftime.

Will I lose my other financial aid if I decline my Graduate Assistantship or Federal Work-Study?

No.

I am borrowing money through the student loan program(s) to help with my living expenses. When will this money be available to me?

The College will refund to you any credit balance that exists on your student account, after the end of the drop/add period. Enrolled students can view their student account and request a refund online under Financial Services. Students, who have Federal Title IV student loan disbursements in an amount that exceeds the costs of tuition, mandatory semester fees, and any room and board charges, will automatically have the amount of the Federal Title IV credit balance refunded.

When will my Federal Direct Loan money be disbursed?

Federal Direct Loans are typically issued in two equal disbursements. If your loan period corresponds to the traditional academic year (September to May), the first disbursement will be timed to arrive at the beginning of each semester. This time frame applies only if all required documentation is submitted prior to the beginning of the term.