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Application Procedures
To apply for federal financial aid, all U.S. citizens and Permanent Residents must complete the Free Application for Federal Student Aid (FAFSA) online at fafsa.ed.gov. First-time applicants who wish to be considered for institutional need-based grants must complete the College Scholarship Service (CSS) Financial Aid PROFILE online at www.cssprofile.org. In addition, first-time applicants whose parents are separated or divorced must complete the CSS Noncustodial Profile, and first-time applicants whose parents own a business must send a copy of the most recently completed business tax return to Student Financial Services. Listed below are the deadlines you should meet in order to receive full consideration for aid.
Incoming Student Application Procedures
Incoming students should follow these steps to apply for financial aid.
Be sure to meet Babson’s deadlines in order to receive full consideration for financial aid.
STEP 1
Complete the CSS PROFILE at www.cssprofile.org to apply for Babson’s need-based grants and scholarships. Babson’s CSS PROFILE deadline is 11/15 for Early Decision and Early Action candidates and 2/1 for Regular Decision candidates.
- Be sure to include Babson College (#3075) on your list of schools.
- For students whose parents are self-employed or own a business or farm: You will be asked about the income, expenses, assets, and liabilities of your business. After submitting the CSS PROFILE, please upload a copy of the most recent year's business tax return to the College Board's Image and Documentation Service (IDOC) - see step 4.
- For students whose parents are separated or divorced: You and your custodial parent (referred to as "Household A") should complete the CSS PROFILE. Under "Additional Parent Application," please provide an email address for your noncustodial parent (referred to as "Household B"), and the College Board will forward information on how your noncustodial parent should complete his/her section of the CSS PROFILE. If you have already submitted the CSS PROFILE and need to add another parent, you can also add this information on the applicant’s dashboard. Babson College believes that the primary responsibility for paying for college lies with the student and family. In the case of divorced or separated parents, we expect each parent to complete the CSS PROFILE. However, if there are extenuating circumstances related to your family, you may submit a CSS Profile Waiver Request for the Noncustodial Parent (pdf). Submission of the waiver request does not guarantee that it will be approved. Review the instructions on page one and submit the waiver and any supporting documentation directly to the College Board’s Institutional Documentation Service (IDOC) . Upon receipt, we will review the information provided and follow up with you via email.
STEP 2
Complete the FAFSA at www.fafsa.gov
- Note: Due to the U.S. Department of Education’s ongoing FAFSA simplification process, the release date for the 24-25 Free Application for Federal Student Aid (FAFSA) is not yet final. Applicants for Early Decision I and Early Action should complete the 24-25 CSS PROFILE by November 15, 2023. Babson College will use that information to estimate any eligibility for federal funds. We will provide additional information once the 24-25 FAFSA is released.
- Citizens and permanent residents of the U.S. must complete the Free Application for Federal Student Aid (FAFSA) to apply for federal aid.
- You must create a Federal Student Aid ID (FSA ID), made up of a username and password. Your FSA ID identifies you as someone who has the right to access your own personal information on the Department of Education websites, such as the FAFSA and Federal Student Aid sites. Parents of dependent students will also need to create their own FSA IDs in order to electronically sign the FAFSA. Find more information about the FSA ID at studentaid.gov.
- Be sure to list Babson College (#002121).
STEP 3
Review the list of scholarships at Babson that have additional application requirements and decide if you wish to apply.
STEP 4
In order to finalize your financial aid package, upload all verification documents to the College Board’s Institutional Documentation Service (IDOC) at https://pages.collegeboard.org/idoc as soon as possible, but no later than 4/1. For issues or assistance with IDOC, please contact the College Board at (866) 897-9881.
- 2022 Signed Parent Federal Tax Return and schedules
- 2022 Parent W-2s or 1099 forms
- 2022 Signed Student Federal Tax Return and schedules
- 2022 Student W-2s or 1099 forms
- 2024-25 Verification Statement - Dependent Student (available for download from the college board )
Incoming Undergraduate Financial Aid Application Deadlines
| Applicant Type | CSS PROFILE and FAFSA deadlines | Notification of financial aid decision |
|---|---|---|
| Early Decision I candidates * | 11/15 | 12/15 |
| Early Action candidates * | 11/15 | 1/1 |
| Early Decision II and Regular Decision candidates | 2/1 | 4/1 |
| Transfer applicants for Fall | 4/1 | 5/15 |
| Transfer applicants for Spring | 11/1 | 12/1 |
*The release date for the 2024-2025 FAFSA is not yet final. Applicants for Early Decision I and Early Action should complete the 24-25 CSS PROFILE by November 15, 2023. Babson College will use that information to estimate any eligibility for federal funds. We will provide additional information once the 24-25 FAFSA is released.
Returning Student Application Procedures
Returning students should follow these financial aid renewal instructions.
Renewal financial aid packages are available the first week of July each year.
Step 1
Complete the FAFSA by 4/15.
U.S. citizens and permanent residents should complete the Free Application for Federal Student Aid (FAFSA) and be sure to list Babson College. Follow the FAFSA instructions for the IRS Data Retrieval Tool.
If you have not already done so, you must create a Federal Student ID (FSA ID), made up of a username and password. Your FSA ID identifies you as someone who has the right to access your own personal information on the Department of Education websites, such as the FAFSA and Federal Student Aid sites. Parents of dependents students must also create their own FSA IDs in order to electronically sign the FAFSA. Find more information about the FSA ID at studentaid.ed.gov.
Step 2
Submit all verification documents to IDOC by 4/15.
Once we receive your FAFSA, we will initiate an email request from the College Board Imaging and Documentation Service (IDOC) for the following documents. If you no longer have access to the email request, you can also access the information online at https://pages.collegeboard.org/idoc.
- 2022 Signed Parent Federal Tax Return and schedules
- 2022 Parent W-2s or 1099 forms
- 2022 Signed Student Federal Tax Return and schedules
- 2022 Student W-2s or 1099 forms
- 2024-25 Verification Statement - Dependent Student (available for download from the college board )
Returning Undergraduate Financial Aid Application Deadlines
| Applicant Type | Filing FAFSA online | Submitting verification documents to IDOC | Babson sends renewal financial aid package |
|---|---|---|---|
| Renewal candidates (returning students) | 4/15 | 4/15 | 7/6 |
Deadlines
To apply for federal financial aid, all U.S. citizens and Permanent Residents must complete the Free Application for Federal Student Aid (FAFSA) online at fafsa.ed.gov. First-time applicants who wish to be considered for institutional need-based grants must complete the College Scholarship Service (CSS) Financial Aid PROFILE online at www.cssprofile.org. In addition, first-time applicants whose parents are separated or divorced must complete the CSS Noncustodial Profile, and first-time applicants whose parents own a business must send a copy of the most recently completed business tax return to Student Financial Services. Listed below are the deadlines you should meet in order to receive full consideration for aid.
Calendar
| Action | Deadline for Filing PROFILE with CSS | FAFSA filing deadline |
|---|---|---|
| Early Decision I/Early Action Admission Applicants | 11/15 | 11/15 |
| Early Decision II/Regular Decision Admission Applicants | 2/1 | 2/1 |
| Transfer Admission Fall | 4/1 | 4/1 |
| Transfer Admission Spring | 11/1 | 11/1 |
| Returning Undergraduates | Not Required | 4/15 |
Awards
| Program Name | Award Amount Per Year | CSS PROFILE and FAFSA required to be considered? | Selection Criteria | Are International Students Considered? | Additional Application Procedures |
|---|---|---|---|---|---|
| Arthur M. Blank School for Entrepreneurial Leadership Scholarship | Full Tuition | Yes | Need and merit/Entrepreneurial potential | No | |
| Babson Grant | Varies based on need | Yes | Need | No | |
| Babson Grant Merit Step | $1,500, starting in 2017-2018 | Yes | Need/Babson sophomores, juniors, and seniors with a cumulative GPA of 3.2 or better at the end of the prior academic year | No | |
| Blank Scholarship | $7,000 | Yes | Need/entrepreneurial potential | No | 500-word essay about entrepreneurial experiences and aspirations, submitted through applicant status page |
| Canadian Scholarship | Varies based on need | CSS PROFILE only | Need/Canadian citizens | Yes, Canadians | |
| Women's Leadership Scholarship | Quarter tuition | No | Merit | Yes | |
| Class of ’49 Scholarship | $5,000 | Yes | Need and merit/Babson sophomores, juniors, and seniors | No | |
| Davis United World College Scholarship | $10,000 | CSS Profile | Need and a graduate of a UWC school | Yes | |
| Dean's Scholarship | $5,000 | No | Merit/recipients selected after first year based on excellence in the classroom and on campus | Yes | |
| DECA Scholarship | $5,000 | No | Merit | Yes, if attending high school in the US | Special application and essay. |
| Diversity Leadership Award | Full tuition | Yes | Need and merit | No | |
| Education Abroad Grant | $2,000 for semester-abroad program or elective abroad | Yes | Need/participation in a Babson-sponsored study-abroad program | No | |
| Enrico Dallas Scholarship | Full tuition | Yes | Need and merit/Dallas residents | No | |
| Federal Pell Grant | Up to $5,815 | FAFSA only | Need | No | |
| Federal Supplemental Educational Opportunity Grant | Typically $1,000 | FAFSA only | Need | No | |
| Fyzical Therapy and Balance Franchise Scholar | $5,000 | No | Merit/Babson juniors who are children or employees of franchise owners with an interest in franchising as a possible career path, and others who have an interest in the field of franchising. | Yes | Application required. Candidates for the scholarship are evaluated using the information in their scholarship applications. Finalists are invited to campus to interview for the award and will be selected by a review team including the Executive Director of the Tariq Farid Franchise Institute and Babson faculty. |
| Gilbert Grant | Typically $2,000 | Yes | Need/residents of Massachusetts | No | |
| Global Scholarship | Full tuition | CSS PROFILE only | Need/citizenship or permanent resident status from countries other than the U.S. or Canada | Yes | |
| Honors Scholarship | $3,000 | No | Acceptance to and participation in Honors Program (Presidential and Weissman Scholars are not eligible for this Scholarship) | Yes | |
| Junior Achievement Scholarship | $20,000 | No | Merit/participants in Junior Achievement USA | No | 500-word essay about JA experience, submitted through applicant status page |
| Mass Grant and other State Scholarships | Up to $1,700 | FAFSA only | Need/residents of Massachusetts residents or of states with reciprocal arrangements | No | |
| Michael J. Conlon '96 and Michelle J. Conlon '94 Memorial Scholarship Award | Amount varies | Yes | Need and merit/Babson juniors | No | Application and essay to Student Financial Services in mid-September of junior year |
| Needham Town Scholarship | Varies based on need | Yes | Need/residents of Needham, Massachusetts or Needham High School graduates | No | Application to Needham Town Hall |
| NFTE Scholarship | Full tuition | Yes | Need/participants in Network for Teaching Entrepreneurship | No | 500-word essay about NFTE experience, submitted through applicant status page |
| Posse Scholarship | Full tuition | No | Merit/New York City Posse Foundation Scholars | No | Application to Posse Foundation |
| Presidential Scholarship | Half tuition | No | Merit | Yes | |
| Sorenson Arts Scholarship | $5,000 | Yes | Need/artistic ability | No | 500-word essay about your identity as an artist and your artistic goals, submitted through applicant status page. Submit a sample or representation of your artistry. |
| Weissman Scholarship | Full tuition plus additional seed money | No | Merit | Yes | Special application and essay. |
| Wellesley Town Scholarship | Varies based on need | Yes | Need/residents of Wellesley, Massachusetts or Wellesley High School graduates | No | List "Wellesley Scholarship Foundation" when filing CSS PROFILE |
| Yellow Ribbon Scholarship | Varies based on eligibility | No | Post-9/11 GIs® or their dependents | No | Post-9/11 Certificate of Eligibility from VA |
“GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at https://www.benefits.va.gov/gibill.”
Loans
Loan Program
Babson participates in the federal student loan programs, and we strongly recommend that all U.S. citizens and permanent residents of the U.S. apply for federal student loans before pursuing any other loan option.
Follow the instructions for applying for financial aid to be considered for the federal and state student loans listed in this section. In addition, please read the Babson Loan Policy Statement.
Federal Direct Loan
- The Federal Direct Loan is the most widely available student loan for U.S. citizens and permanent residents.
- Students are eligible to borrow up to the following amounts through the Federal Direct Loan program:
| Year | Maximum loan amount | Maximum portion that can be subsidized |
|---|---|---|
| First Year | $5,500 | $3,500 |
| Second Year | $6,500 | $4,500 |
| Third Year | $7,500 | $5,500 |
| Fourth Year | $7,500 | $5,500 |
- Independent students can borrow additional amounts through the Direct Unsubsidized Loan program.
- For students who qualify for the Direct Subsidized Loan, the interest is paid by the federal government while students are in school at least half-time.
- For students who don't qualify for the subsidy, interest begins accruing at the time of the loan disbursement. Students can elect to pay the interest while in school or have it capitalized into a repayment schedule that starts six months after the student leaves school.
- Borrowers are required to sign a Master Promissory Note and to complete entrance and exit loan counseling.
- Loan funds are issued in two disbursements each year, typically timed to coincide with the start of each semester. Students are notified via email each time Federal Direct Loan funds are credited to their accounts.
- You can find details about interest rates and federal loan fees here.
Mass No Interest Loan
- For Massachusetts residents with the greatest financial need.
- No fees, and interest rate is fixed at 0%.
- Repayment begins 6 months after the student leaves school.
- Limited funds are available.
Additional Loan Options
For students and parents who need financing beyond what is available through the federal student loan programs, we offer a list of recommended loans and lenders:
Student and Parent Alternative Loan Options
A co-signer with a strong credit history will increase a student’s chances of being approved for an alternative/supplemental loan. If you are an undergraduate who is planning to ask a parent to serve as a co-signer, you should also consider the parent loan options to ensure that, as a family, you are getting the best rates available to you. We use the following criteria in developing our list of recommended loans and lenders:
- Loan terms and cost to borrower
- Borrower benefits
- Differentiated options (fixed rate vs. variable rate loans, for-profit vs. non-profit organizations, regional vs. national lenders)
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.
Federal Direct Parent PLUS Loan Program
- Parents who wish to borrow through the Federal Direct Parent PLUS Loan should complete the application, Master Promissory Note, and entrance counseling.
- You can find details about interest rates and federal loan fees here.
- Parents can request to borrow up to their full cost of attendance, less any financial aid awarded.