Need-Based Aid

We encourage all U.S. citizens and permanent residents of the U.S. to apply for financial aid by the deadlines listed below.

Students must apply for financial aid each year. Current students can check their application status here.

Federal Direct Loans

Graduate and professional students can borrow up to $20,500 per academic year through the Federal Direct Unsubsidized Loan program.  Interest will accrue upon disbursement, the interest rate is fixed at 6.8 percent and there is a 1% origination fee deducted at disbursement. 

You will find listed here the financial aid application procedures and deadlines you should meet if you would like to borrow a Federal Direct Unsubsidized Loan.  It is your responsibility to make sure the application is complete.  You can check your application status on your portal.  Financial aid award information will be available online beginning in May. 

Step 1 - File the Free Application for Federal Student Aid (FAFSA) - 4/16/13

Go to FAFSA online at www.fafsa.gov.  The U.S. Department of Education will send reminders to prior year applicants in January and February. You can sign the form electronically using your PIN.  If you do not have a PIN, you can request one through www.pin.ed.gov.  Be sure to list Babson College, Babson Park, MA, Federal School Code 002121.  If you provide your e-mail address when completing your FAFSA, you will receive information about your application within a few days of processing.  Please check the information for accuracy and follow any special instructions.

IRS Data Retrieval Process

The IRS Data Retrieval Process allows students to transfer their completed 2012 federal tax return data directly from the Internal Revenue Service (IRS) to the 13-14 FAFSA.  When you initiate the FAFSA application, you will be asked if you wish to use the IRS Data Transfer Process.  Once you file your 2011 federal tax return electronically with the IRS, there is approximately a 2 week turnaround before the information is available for retrieval.  If possible, you should plan to file your federal 2012 tax return by 4/1/13.   If the 4/16/13 deadline is approaching and your information is not yet available via the IRS Data Retrieval Process, it is fine to submit the FAFSA but you should go back and make the necessary corrections using the IRS Data Retrieval Process.

Step 2 – Submit all required scholarship application material

Review the scholarships at Babson that have special application requirements and decide if you wish to apply. Learn more about scholarships here.

Deadlines

Incoming Students: Use your admission application deadline for the FAFSA and all scholarship materials.

Returning Students: We recommend you complete these steps by April 16th.