Need-Based Aid for Babson Students

The transition to college is an exciting time, and the Student Financial Services team is here to help make your degree possible. There are a number of need-based financial aid options available to Babson students, including Babson, federal, and state grants.

100%

of demonstrated need is met for incoming students in the first year.

Babson meets 100% of your demonstrated need in the first year and commits to your level of Babson Grant for four years, provided there is no major change to your family's financial circumstances or your family’s number of children in college.

Here are the major need-based grants and scholarships available to Babson students. All are based, at least partially, on financial need, as well as on other socio-economic factors.

Additionally, Babson offers student employment opportunities to all our students, with preference in hiring given to students who qualify for Federal Work-Study. The Student Employment Office will help you find a role that fits your interests and needs.

Need-Based Babson Grants and Scholarships

Awards based on your financial application

Babson Grant

General financial aid award for our students

Canadian Scholarship

Need-based option if you’re a Canadian citizen

Class of ’49 Scholarship

This is awarded to students who are top GPA earners at the end of their first year, have financial need, and have demonstrated a high degree of involvement in cocurricular activities.

Enrico Dallas Scholarship

Four years of full tuition for Dallas residents

A separate application or materials are needed

Blank Scholarship

This is awarded to incoming students on the basis of entrepreneurial potential, academic achievement, and financial need. An application essay is required for consideration.

Michael J. Conlon ’96 and MIchelle J. Conlon Memorial Scholarship Award

This is a need-based award for juniors at Babson who demonstrate strong academics and leadership on campus. A separate application and essay are required for consideration.

Network for Teaching Entrepreneurship (NFTE) Scholarship

If you participated in NFTE, you can apply by including a resume of your experiences with the program with your applicant profile.

Sorenson Arts Scholarship

This is awarded to incoming students on the basis of artistic ability, the strength of the student’s ideas about combining artistic pursuits with a business degree, academic achievement, and financial need. You will need to submit an essay about your identity as an artist and your artistic goals.

Wellesley and Needham Town Scholarships

If you are a resident of Wellesley or Needham, Massachusetts, (or graduated from Wellesley or Needham High Schools), you can apply to your respective town’s Board of Selectmen. More details are provided annually through each town’s website in January of your application year.

These, however, are not your only available options. If you have any questions or would like further information, please reach out to Student Financial Services at 781-239-4219 or sfs@babson.edu.

You also can find information on our scholarship thank you guidelines at this link.

Federal and State Grants

Our Student Financial Services office will determine your eligibility for federal and state grants based on the information you provide on the Free Application for Federal Student Aid (FAFSA). These are the primary options available.

Federal Pell Grants

The Federal Pell Grant is awarded to undergraduates with the greatest financial need. If your tentative award letter includes a Federal Pell Grant, the amount is an estimate that will be finalized once we receive your FAFSA and verification documents. The award amount is subject to change each year depending on your financial need and federal funding availability.

You can learn more information on the Federal Student Aid website from the U.S. Department of Education.

Federal Supplemental Educational Opportunity Grant (SEOG)

The Federal SEOG is awarded to undergraduates with the greatest financial need. Of the award amount, the federal government pays 75% and Babson pays 25%.

You can learn more information on the Federal Student Aid website from the U.S. Department of Education.

State Grants

Most state grants are limited to recipients attending college in their state of residence. If you are eligible for a grant from your state of residence and can use it at Babson, we will add it to your package. For residents of Massachusetts, the MASSGrant and Gilbert Grant funds are awarded to the students with the greatest financial need. You can learn more about the state options on the Massachusetts Office of Student Financial Assistance website.

Federal and State Loan Options

We recommend all U.S. citizens and permanent residents of the U.S. apply for federal student loans before pursuing any other loan option. 

If you need financing beyond what is available through the federal student loan programs, we offer a list of recommended loans and lenders in Babson’s Loan Policy Statement and in our financial aid portal. However, you are in no way limited to loans/lenders on our list of options. Babson will process a loan from any lender, and it is your right to apply for loans through the lender of your choice. 

For loan information for parents, please see our Parents page.

Federal Loans

The Federal Direct Loan is the most widely available student loan. In your first year, you are eligible for up to $5,500, with $3,500 the maximum that can be subsidized.

Please see the Federal Student Aid website for official information about this program.

State Loans

Mass No Interest Loans are available to Massachusetts residents with the greatest financial need.

Please see the Massachusetts Office of Student Financial Assistance website for official information.

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