How can we help you make a Dean education affordable? We will do everything that we can to help you make your student's Dean College dream a financial reality. Each year 90% of our students receive over $9 million in Dean scholarships and grants.  85% of our students also receive federal and/or state financial aid.  Below is information about the different types of financing options available to our families. Please contact us at any time if you would like more information at financialaid@dean.edu or 508-541-1518.

Student Loans

In order for students to borrow from the Federal Perkins Loan or Stafford Loan program(s), students must file a FAFSA form.

The Federal Stafford Loan is a program that allows students to borrow up to $3,500 for their first year and $4,500 for their second year at Dean (assuming the student has completed at least 30 credits). Dance majors in their Junior and Senior years may borrow up to $5,500 per year. There are two types of Stafford loans; subsidized and unsubsidized. The subsidized loan program requires that the student demonstrate financial need. The advantage of the subsidized loan is that the government pays the interest on the loan while the student is enrolled at least half-time. Under the unsubsidized program, students can borrow even if they have no demonstrated need; however, the interest that accrues during enrollment is the student's responsibility. When a student graduates or withdraws from school the Stafford loan goes into a 6-month repayment grace period.

Dean College is one of only a handful of colleges in New England that enables students to e-sign their Master Promissory Note (MPN)! By providing our students with the e-sign option, we make completing the Federal Stafford Loan process quicker and easier! Our commitment to providing our students with the latest in technological enhancements to help students through the financial aid process sets Dean College above the rest! Please have the following information available when completing the MPN:

• Student drivers license number.
• The name, address, telephone number, and e-mail address (if available) of two adults at different U.S. addresses, the first of which should be a parent or legal guardian (if living).
• Student federal PIN number (if necessary, you may apply for a PIN number or request a duplicate PIN number from the PIN Web site).

In order for Dean to receive the proceeds of the Stafford loan, a one-time Loan Entrance Interview must be completed in addition to the MPN. We have simplified the process by giving students the opportunity to complete the Entrance Interview online. Simply click on the link  and within minutes, this requirement will be complete. The CSAS Office will receive immediate confirmation once the Entrance Interview is complete.

Please keep in mind that both the Loan Entrance Interview and MPN  must be completed in order for our office to credit the student account with the proceeds from any Stafford loan/s.

The Federal Perkins Loan is awarded to students with high financial need. Awards range from $1,000 to $4,000 depending on need and the availability of funds. The interest rate is 5 percent. Repayment begins 9 months after the student graduates or drops below half-time enrollment. Interest does not accrue while the student is enrolled at least half time.

Students with a Perkins Loan are required by Federal regulations to complete a one-time Loan Entrance Interview before  funds can be disbursed. We have simplified the process by giving students the opportunity to complete the Entrance Interview online. Simply click on the link and within minutes, this requirement will be complete. The CSAS Office will receive immediate confirmation once the Perkins Loan Entrance Interview is complete.

LOAN EXIT INTERVIEWS
After Graduation or a withdrawal from Dean, Federal regulations require the completion of a Loan Exit Interview if, at any time while at Dean, Stafford or Perkins loans were borrowed. The Stafford Exit Interview is available online by clicking on the link.  We will receive immediate confirmation once the Stafford Exit Interview is complete. The Perkins Exit Interview form can be done online by clicking the link.

Students who receive the Massachusetts No Interest Loan (MNIL) are required by the Commonwealth of Massachusetts to complete an Exit Interview after graduation or upon withdrawal from Dean College.

Parent Loans

The parent loan programs described below allow credit-worthy parents to borrow up to the entire cost of college, less any awarded financial aid. The student and applicant must meet eligibility requirements outlined in the application materials. Unlike student loans, repayment on parent loans begins within 30 to 60 days of the disbursement of loan funds to the school for that academic year.

Parent  PLUS Loan: The Parent Loan for Undergraduate Students (PLUS) allows parents to borrow on behalf of their dependent students.  Eligibility for this loan is not based on financial need but does require a credit check.  Parents may borrow up to the cost of attendance minus any financial aid. The loan has a fixed interest rate of 8.5%. There is a maximum repayment period of 10 years, with a minimum monthly payment of $50. An origination fee not to exceed 3% is subtracted from the requested loan amount. In the case that a parent is not approved for a Plus loan, the student may be eligible for an additional Unsubsidized Stafford Loan. To apply for a Plus loan, please click on the link or apply over the phone at 1-800-999-9080 X5015.

Student Loans

Alternative Loan Program:  Many families supplement their college financing plan with private educational loans. Private loans are available from a variety of sources and provide additional funding when the other types of aid does not cover costs. These loans are not  guaranteed by the federal government but by private financial institutions. Interest rates on these loans are typically higher than federal loans but lower than personal loans. Student borrowers will need a credit-worthy co-signer to borrow alternative loans.

Payment Plan

Families may also elect to break up the cost of the entire year into installments using the Tuition Management Systems (TMS) payment plan. For a $60 enrollment fee, payments may be made for the entire year on an interest-free, 10 month payment plan beginning July 1st and ending April 1st. For information about how to enroll, please contact TMS by clicking on this link or you can contact them over the phone at 1(800) 463-6994.

For more information please contact us at financialaid@dean.edu or 508-541-1518.