Financing Your Education

Financial Aid's webpage has a Net Price Calculator to assist you in calculating your education at Fitchburg State University.

e-Bills are generated twice per year on a semester basis. Students and authorized users will receive email notifications that a billing statement is available online. Please note that bills are not mailed home. Fall bills are available in early July and are due in early August. Spring bills are available in mid-November and are due by mid-December. Actual room and board costs vary depending on meal plan selection and housing assignment. Please visit our Student Accounts page for current costs.

Alternative Financing Options

In addition to need-based financial aid, there are several programs you may want to consider to finance your education.

The Federal Direct Plus Loan Program provides loans to qualified parents of dependent students. Parents may borrow up to the cost of attendance minus financial aid. The origination fee as of October 1, 2016 is 4.272%. Repayment begins 60 days after disbursement or may be deferred until after the student graduates. To apply for a Parent Plus Loan please visit the Federal Student Aid website.

Alternative Student Loans are offered by various lenders. These provide students with a low-interest alternative loan option if they choose to borrow beyond the limits set by the Federal Direct Loan Program. Please go to our Financial Aid website for more information regarding Alternative Loans.

Payment Plan - This interest-free plan divides your payments into four equal monthly installments per semester.

The Massachusetts Educational Financing Authority (MEFA) is committed to making college more accessible and affordable. They are a nonprofit, self-financing state authority. Several fixed-interest rate loan options are available to undergraduate and graduate students. Please visit the MEFA website for additional information or to apply online.

Helpful Resources

  • College Navigator - This site contains information from the National Center for Education Statistics including student loan information and default rates.

  • Loan Repayment Calculator - This site, from the U.S. Department of Education, helps you calculate student loan payments and choose a loan repayment option that best meets your needs and goals. You can also use it to decide whether to consolidate your student loans.