Understanding Your Financial Aid Award Letter - Undergraduate Students

This guide will help you understand the different components of your Lesley University undergraduate financial aid award letter.

Let's start by breaking down the first page.

1. Basic Information

At the top of your award letter, you'll find:

• Your personal contact information on the left side
• Your Lesley student ID number, program information, and campus residency status on the right side

2. Annual Costs

The first section breaks down your estimated direct costs for the academic year:

• Estimated tuition
• Room and board (if living on campus)
• Health and wellness fee (for on-campus residents)
• Comprehensive fee
  
• The total estimated direct costs you can expect to be billed

Note: If you plan to commute to Lesley instead of living on campus, your annual costs would be reduced by $20,850, which represents the 2024-2025 room, board, and health and wellness fee for on-campus resident students.

3. Estimated Financial Aid Awards

This section details all financial aid you've been awarded, which may include:

• Merit-based scholarships
• Need-based housing grants
• Federal financial aid (loans, grants, work-study)
• Other types of financial aid
• The total financial aid available to you

4. Estimated Remaining Direct Costs

This section shows:

• Your total estimated direct costs
• The net financial aid available after loan fees and work-study
• The remaining amount you'll need to plan for

Important: The net financial aid amount will be slightly less than the total awarded amount due to federal student loan origination fees. Additionally, Federal Work-Study funds are paid directly to you if you secure an on-campus job, so these funds are not automatically applied to your bill.

5. Payment Options

There are three common ways students and families manage remaining costs:

1. Interest-Free Payment Plan
   • Divide your balance into monthly payments
   • No interest charges
   • Managed directly through Lesley University
2. Private Education Loans
   • Available through various lenders
   • Interest rates and terms vary
   • Requires separate application process
3. Federal Parent PLUS Loan
   • Available to parents of dependent undergraduate students
   • Fixed interest rate
   • Requires credit check and separate application

The monthly payment amounts shown are estimated based on three separate financing options. Some students may utilize one method of financing, while others may combine financing options to best suit their financial needs and individual budget.

6. Additional Costs to Consider

Your award letter includes estimated indirect costs that won't appear on your bill but should be considered in your financial planning:

• Books, supplies, and equipment
• Transportation
• Personal expenses

Note: For students who are not living in University housing, you may see estimated living expenses listed in this section. Those figures would be an estimate of off-campus housing costs during the school year for a student who may be commuting to Lesley from either a private residence they are leasing, or a family home where they may be assisting with the family’s housing costs.

7. Semester Breakdown

Page two of your award letter shows:

• How your financial aid is distributed by semester
• Your anticipated number of credits per term

Important: Undergraduate students must be enrolled in at least 12 credits per semester to be considered full-time for federal aid eligibility. If you need to change your enrollment information from what is listed on your financial aid letter, let the Financial Aid Team know by submitting a ticket on the Support Hub at support.lesley.edu.

Need More Help?

We understand that this can be a lot of information to absorb. Don’t hesitate to reach out if you need help beyond this guide. You can submit a ticket on the Support Hub or call us at 617.349.8760. Don’t forget to include your student ID number and specific questions. We’ll connect you to a member of the Financial Aid team to assist you.