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Additional Resources

Estimate Costs with the Net Price Calculator: Get an idea of your eligibility for financial aid and estimate your out-of-pocket expenses.

Cash Course: Financial literacy information. Define your finances. Define your future.

Financial Aid Refunds and Book Advances: Once financial aid is disbursed, you may be eligible to receive a refund, which is paid approximately 6 weeks from the start of each semester. If the disbursement of financial aid results in a refund after your semester's tuition is paid, you are eligible for a "Book Advance" for purchasing textbooks through the College Bookstore. For information on billing, refunds, or to request a book advance, contact the Student Accounts/Bursar's Office (413.662.5230). If you're eligible, you can pick up your book advance one day before classes start.

Know What you Owe: The National Student Loan Data System has information about your federal student loans. To review your loan information, you need your Social Security number and your FAFSA PIN.

Federal Refund Policy: We understand that sometimes you can't complete a semester. Refunds of financial aid are not disbursed until after the add/drop period of your last class during a term. The Federal Policy applies to all enrolled students at MCLA, who withdraw from the College whether or not they are recipients of financial aid. The policy pertains to all tuition, room, board, fees, and other charges by the College; exceptions include non-refundable housing, orientation, and admissions deposits, when applicable.

If you withdraw from the College before the first day of classes (official opening), you receive a 100% refund.

All refunds after the start of school are pro-rated up to the 60% point of the semester. NO refunds are made after the 60% point.

Pro-rated refunds are calculated by determining the percentage of the semester completed, up to and including the official withdrawal date.

Based on this calculation, the college determines the amount of unearned financial aid and is responsible for returning any portion necessary to the appropriate financial aid programs. Repayment is made to the federal programs in the following order: Unsubsidized Federal Direct Loan, Federal Perkins Loan, Federal Plus Loan, Federal Pell Grant, and Federal Supplemental Educational Opportunity Grant. Any remaining credit balances are returned to the state, and then to institutional and student resources.

If you withdraw, you could owe a balance to MCLA for federal aid; you must pay this balance.

Student's Right to Know: The following information provides sources, for current and prospective students, for locating information on campus such as Completion and Graduation Rates and the Campus Security Report.

Disability Services (services, accommodations)CSSE/Academic SupportEldridge Hall, Top Level
Athletic Program Participation (rates/financial support)Athletic DepartmentAmsler Campus Center
Campus Policy Governing Use of Alcohol & Other DrugsStudent HandbookStudent Affairs, Amsler Campus Center
Rights under the Family Education and Privacy Act (FERPA) (inspect/review your records)College CatalogRegistrar's Office, Eldridge Hall
FFEL/Direct Loan Deferment for Peace Corps or Volunteer Service (loan deferment while volunteering)Student Loan GuideFinancial Aid, Eldridge Hall
Available Financial AssistanceFinancial Aid GuideFinancial Aid, Eldridge Hall
Institutional InformationCollege CatalogAdmission, Smith House
Completion and Graduation Rates (full-time undergraduates)FactbookInstitutional Research, Eldridge Hall
Campus Security Report (criminal offenses involving students, last 3 years)Campus Security ReportPublic Safety, 277 Ashland Street
Voter Registration (all states)MA Voter Registration

Code of Conduct - Student Loan Programs


The following Code of Conduct is proposed to govern the education lending practices of Massachusetts public colleges in an effort to help ensure integrity in all aspects of the student educational loan program. This policy formalizes long- standing code of conducts practiced by public institutions of higher education in their efforts to provide affordable access to higher education.

Statement of Ethical Principals

The Board of Higher Education believes that the practice of institutions, in recommending lenders for federal and private loans, should be based on the cost of the loan but may also consider such factors as the ease and speed of the application process, funds disbursement, and quality customer service, all of which must focus on the best interest and needs of students and without direct regard for any financial advantage to the institution.

Institutions must inform students and their families that they may select the lender of their choice; but to safeguard against predatory lenders, the institutions should provide information to the student that would enable them to make a decision regarding the best possible loan option, with the most favorable terms, customer service, and lender integrity.

Code of Conduct

The primary goal of the institution and its financial aid staff is to help students achieve their educational potential by providing appropriate financial resources. To this end, this document provides institutions, specifically financial aid professionals, with a set of principles that serves as a common foundation for an acceptable standard of conduct.

Institutions and their Financial Aid Professionals shall:

  • Maintain the highest level of professionalism
  • Commit to the highest level of ethical behavior and refrain from conflict of interest or the perception thereof
  • Respect the dignity and protect the privacy of students, and ensure the confidentiality of student records and personal circumstances
  • Provide information to families for lenders that have proven to provide the best combination of price, access to funds, and service to students and families

Further, institutions shall ensure that all officers, trustees, directors, employees or agents, and financial aid professionals adhere to the following:

  • May not accept gifts, meals, travel, or any other non-trivial items from student loan providers in connection with the institution's loan business
  • May not accept, from a lending institution, money, equipment, staffing/consulting or printing services or anything of value that may provide or suggest an advantage or grant a preferred status
  • If serving as a member of a lending institution's advisory board, may not accept anything of value in exchange for this service, such as "revenue sharing"
  • Must review lender choices every year and if a list of preferred lenders is published via brochure, Web page, etc., clearly and fully disclose the criteria and process for selecting preferred lenders
  • Must disclose information regarding any lender on the preferred lender list that has an agreement to sell loans to another lender
  • Make clear to students and their families that they have the right and ability to borrow through any lender of their choice, regardless of a preferred lender list. In addition, lenders will not be assigned or loans delayed.
  • May not link or otherwise direct students and families to any electronic loan process, such as a master promissory note or other loan agreement, that promotes or otherwise suggests a "preferred" status for any lending institution

Reporting of Policy Violations

Any employee who believes that any provision of this policy has been violated shall report such violation to the Chair of the institution's Board of Trustees, who shall then be responsible for immediately notifying the Chair and Chancellor of the Board of Higher Education. Upon review of the matter, the Board of Higher Education shall refer the violation to the Office of the Attorney General, if deemed appropriate.