Financial Aid

We understand that an NBSS education is a significant financial undertaking. Applying for financial aid is a worthwhile, though sometimes complex process. We are here to help make your dreams of going to NBSS a reality.

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How to Apply for Financial Aid

To apply for financial aid, you must complete both the NBSS Financial Aid Application and a Free Application for Federal Student Aid (FAFSA). If additional documents are required, the Financial Aid office will contact you after we have received your NBSS Financial Aid Application and FAFSA results. Financial aid consideration cannot be completed until all requested documents have been provided.

  • Complete the FAFSA application here. Our school code is 015527. You’ll need a username and password to log in and make changes to your FAFSA. If you need help, please call 800-433-3243.


Enrollment at NBSS is considered undergraduate enrollment, whether or not you already have a bachelor’s degree. For the FAFSA question "When you begin the upcoming school year, what will be your grade level?" please answer as below:

  • First-year students, please select: Never attended college/1st year or attended college before/1st year. (Applies to all programs, including PA*)
  • Second-year students in BB, CFM, JM, PC, and VM, please select 2nd yr./sophomore.
  • Third-year VM students, please select 3rd yr./junior.

*Although Advanced Piano Technology (PA) students have typically matriculated through the Basic Piano Technology (PT) program, PA is a separate one-year program.

Dates & Deadlines

For September enrollment, you should submit your financial aid application by April 1. For February enrollment, you should submit your financial aid application by September 1.

You may recieve financial aid at any time during your enrollment period. However, in case we need more information from you, we suggest you apply no later than one month before the end of your enrollment period.

Financial aid is awarded for one year only. You’ll need to complete a new FAFSA and NBSS Financial Aid Applications for each academic year. If you haven’t applied yet or want to check the status of your application, please contact us as soon as possible.

For Massachusetts residents: You’ll need to complete your FAFSA application by May 1 to determine MassGrant eligibility for the next school year. Visit MassGrants for more information.

Grants & Scholarships

Our scholarship funds are limited, so you’ll have a better chance at getting a need-based grant if you submit your application early. However, meeting the deadline does not guarantee a grant or scholarship from the School.

NBSS Scholarships

Our scholarships range between $1,600 and $6,100 depending on the program. These one-year awards are based on financial need, as determined by the FAFSA. If you submit a FAFSA and an NBSS Financial Aid Application, we’ll consider you for an NBSS scholarship.

Federal Pell Grants and MassGrants

These grants are also based on your FAFSA results. Students with a calculated Expected Family Contribution (EFC) of up to $5,328 can receive Pell grants from $606 to $5,920 for the 2017-18 school year. View more information on the Pell Grant here.

MassGrants are available for Massachusetts residents only. You’ll need to complete your FAFSA application by May 1 to determine MassGrant eligibility for the next school year. View more information on MassGrants here.

Private scholarships

We encourage you to pursue private scholarship awards. Though you may need to invest some time pursuing private scholarships, they can be a valuable part of your educational financing plan. There are many resources for finding private scholarships on both local and national levels. These include:

  • High schools and local libraries
  • Employment and community organizations
  • Parents’ places of employment.
  • You can also look for private scholarships online. However, be wary of fee-based scholarship search services, as they are rarely more effective than searching on your own.

It is common to wonder how private scholarship support impacts financial aid awards. In most cases, private scholarships won’t reduce your existing financial aid. Need-based financial aid will only be reduced if the awarded amount exceeds your calculated cost of attendance (COA). Self-help aid, like student loans, will be reduced before your grants are. In all cases, your total financial award, including private scholarship, cannot exceed your COA. Submit notification letters from private scholarship donors to:

North Bennet Street School
Financial Aid Office
150 North Street
Boston, MA 02109

Student Loans

Federal Direct Stafford Loans

These loans are awarded to NBSS students at the amounts and rates of the undergraduate loan program. Subsidized loans are for students demonstrating financial need as determined by the FAFSA application. Unsubsidized loans are for students who do not qualify for need-based loans. Direct Stafford Loan amounts are established by the United States Department of Education (DOE) at the following levels:

Year

Subsidized

Unsubsidized

Annual Total

Dependent Student

1st Year

$3,500

$2,000

$5,500

2nd Year

$4,500

$2,000

$6,500

3rd Year

(Applies to violin student only)

$5,500

$2,000

$7,500

Independent Student

1st Year

$3,500

$6,000

$9,500

2nd Year

$4,500

$6,000

$10,500

3rd Year

(Applies to violin students only)

$5,500

$7,000

$12,500

*For financial aid purposes, students are considered dependent until the age of 24, unless they meet certain other criteria. If you are under the age of 24, you can find your dependency status by visiting the FAFSA website.

Terms and Conditions – The federal government sets the terms and conditions of Federal Stafford loans. Current Direct Loan interest rates and fees are as follows:

2017-2018 Academic Year:
Undergraduate Subsidized: 3.76% interest rate; 1.069% origination fee
Undergraduate Unsubsidized: 3.76% interest rate; 1.069% origination fee

Interest Payments - The Federal government pays the accruing interest on a subsidized loan during your in-school deferment and grace periods. If your loan is unsubsidized, you’ll be responsible for paying the interest. You may choose to make voluntary interest payments while in school to reduce the overall cost of the loan, or defer the interest payments until it’s time to repay. We recommend you pay the interest when you receive your bill every quarter. Otherwise, unpaid interest on unsubsidized loans will be capitalized (added to the principal balance) at the end of the grace period.

For more information on Direct Loan terms and conditions, and eligibility, please visit the Federal Student Aid website here.

The Massachusetts No Interest Loan

The Massachusetts No Interest Loan (MNIL) is available to qualified Massachusetts residents up to $4,000 annually. Our Financial Aid Office will notify you if you’re eligible. For more information on eligibility, please visit the MNIL website here.

Master Promissory Note & Entrance/Exit Counseling

All first-time student loan borrowers at NBSS must complete a Direct Loan Master Promissory Note (MPN) as well as student loan entrance counseling before receiving student loan funds.

Step 1 - Complete the Master Promissory Note

You’ll need to complete a Master Promissory Note (MPN) If you have not previously borrowed a Federal Direct Stafford Loan or have not borrowed within the last ten years. The MPN is an agreement between you and the federal government. It shows that you understand your responsibilities as a Federal Direct Stafford Loan borrower.

To complete your MPN online, please go to the Student Loan website and sign in using your FSA ID. Once you sign in, you’ll see the “Welcome to StudentLoans.gov” page. Select “Complete Master Promissory Note.” Then select your loan type, which is “Subsidized/Unsubsidized.”

You must complete the entire MPN process in one session, so be sure you have enough time before you start. Each MPN takes approximately 30 minutes to finish.

Step 2 - Complete Loan Entrance Counseling

You must also complete Direct Loan Entrance Counseling if you haven’t borrowed a Federal Direct Stafford loan at NBSS before. Counseling explains your rights and responsibilities as a Federal Direct Loan borrower.

To complete your entrance counseling on-line, please go to the Student Loan website and sign in using your FSA ID. Once you sign in, please select “Complete Entrance Counseling.” On the next page, you’ll need to select counseling as an undergraduate student. It should take 20 to 30 minutes to finish the entrance counseling session.

If you need help completing your Direct Loan MPN or entrance counseling on-line, please contact the DOE Applicant Services help desk at 800-557-7394. You won’t be able to get receive your student loans until you have completed your entrance requirements.

Direct Stafford Loan Exit Counseling

You’ll need to complete exit counseling before you graduate or leave the School. Direct Loan (DL) exit counseling explains your rights and responsibilities as a Direct Loan borrower. To complete your exit counseling on-line, please go to the Student Loans website and sign in using your FSA ID.

Once you sign in, go to the “Tools and Resources” tab in the toolbar. Select “Exit Counseling.” You’ll then be able to access the National Student Loan Data System (NSLDS), where you can complete exit counseling. Once you’re finished with exit counseling, they’ll notify the School’s Financial Aid Office. If you need help, please contact the DOE Applicant Services help desk at 800-557-7394.

The Federal Direct Parent PLUS Loan

Under the Federal Direct Parent PLUS Loan program, parents of dependent students may borrow up to the difference between the annual cost of attendance and any other financial aid. We’ll assume Parent PLUS Loan eligibility for all dependent students. However, eligibility is based on credit approval by the Direct Loan Servicing Center. The interest rate on a new PLUS Loan is fixed at 6.31%. They set the rate for the upcoming year every July 1st. The current origination fee is 4.276%.

If your parents are denied the PLUS Loan for any reason, you’ll be eligible to get a Direct Stafford Loan as an independent student. For help with a credit decision, contact the Direct Loan Servicing Center at 800-848-0979 or visit their website here.

PLUS Loan Terms and Conditions

Repayment starts 60 days after the funds are fully disbursed, and the repayment term is up to 10 years. Parents have the option to defer payments on the Parent PLUS loan while you’re in school, and for a six-month grace period after you graduate or drop below full-time enrollment. (Parents can also defer payments if they’re enrolled in college. They’ll need to submit an application for an in-school deferment.) The interest on the PLUS loan is not subsidized. It continues to accrue while deferred and is capitalized when the loan enters repayment. To request Parent PLUS Loan deferment, please call the Direct Loan Servicing Center at 800-557-7394.

Request a Parent PLUS Loan

To request a Parent PLUS loan, please complete this Federal Direct Parent PLUS Loan Pre-Approval Request Form (PDF) and return it to our Financial Aid Office. We’ll include this form with your child’s financial aid award packet. If you prefer, you may submit your PLUS loan application directly to the U.S. Department of Education (DOE) by visiting the Student Loans website here.

All first time Parent PLUS Loan borrowers at North Bennet Street School must complete a PLUS Loan Master Promissory Note (MPN) prior to receiving their loan. Complete the PLUS Loan MPN by signing into the Student Loans website using your FSA ID. Once you sign in, select “Complete Master Promissory Note,” then select your loan type, which is “Parent PLUS.” For help completing the PLUS Loan MPN, please contact the DOE Applicant Services help desk at 800-557-7394.

Alternative Financing

We’re happy to work with students seeking alternative financing up to the cost of attendance. For more information on alternative financing, or processing an alternative loan, please contact the Financial Aid Office at 617-227-0155 ext. 115, or jdergay@nbss.edu.

International Students

International students attend the School on an M-1 student visa issued by the United States Department of Citizenship and Immigration Services (USCIS). We’ll help you get an M-1 visa by certifying the USCIS form I-20 and the Certificate of Finances form.

The Certificate of Finances form is used to confirm your ability to meet the educational expenses of your program here. Download the form for your program below and return the completed form to our Financial Aid Office at jdergay@nbss.edu or by mail. Then, we'll certify the form and create an I-20 form for you. We'll return both forms to you to use with your visa application.

Certificate of Finances forms by program (2017-2018)
Bookbinding
Cabinet & Furniture Making
Carpentry
Preservation Carpentry
Jewelry Making & Repair
Locksmithing & Security Technology
Basic Piano Technology
Advanced Piano Technology
Violin Making & Repair

For more information on the visa application process, please contact the USCIS service center at 800-375-5283.

Program Extension

The M-1 student visa is valid for a maximum of twelve months at a time. If you are attending a two or three-year program at NBSS, you’ll need to request a program extension for each year of enrollment. We can request a program extension online no more than 60 days from your program end date, and no less than 15 days from the end date. The extension cutoff dates are:

  • Monday, April 3, 2017, through Thursday, May 18, 2017, for all programs except VM.
  • Wednesday, May 3, 2017, through Friday, June 16, 2017, for VM.

You’ll need to come to our Financial Aid Office during this period to request program extension of your visa. We’ll give you a new I-20 form. You’ll submit the updated I-20 form, along with a completed form I-539, and a check for $290, to the USCIS to complete your request.

Optional Practical Training

If you have an M-1 visa, you may wish to apply for Optional Practical Training (OPT) upon the conclusion of your academic program. OPT allows you to work in the United States for a qualified period once you’ve finished your academic program. We can ask for an OPT extension no more than 90 days from your program end date, and no less than 15 days from the end date. The time frame is as follows:

  • Sunday, March 4, 2017, through Thursday, May 18, 2017, for all program except VM.
  • Tuesday, April 3, 2017, through Friday, June 16, 2017, for VM.

You’ll need to come to our Financial Aid Office during this period to request an OPT extension of your visa. We’ll provide you with a new I-20 form. You’ll submit the updated I-20 form, along with a completed I-539 form, a completed I-765 form, and a check for $670 to the USCIS. (The fee for the I-539 is $290, and the fee for the I-765 is $380).

Click here for instructions on completing Form I-539. Click here for instructions on completing form I-765. You can download and print both forms on those webpages.

For more information on program extensions or OPT, please contact our Financial Aid Office at jdergay@nbss.edu or 617-227-0155 x115. You can also call the USCIS service center at 800-375-5283.

Special Information for Students from Canada

Canadian citizens may qualify for student financial aid through their home province to study at NBSS. Please visit the Canadian government's CanLearn website here to learn about student loans and grants, and to see if we’re an approved institution in your province. The NBSS CanLearn school code is MPTU.

Veterans' Benefits

Full-time courses at the School qualify for veterans’ educational benefits through the Montgomery G.I. Bill, Chapter 30 and the Post-9/11 G.I. Bill, Chapter 33. To begin receiving your benefits, please send a copy of your Veterans Administration (VA) Certificate of Eligibility to our Financial Aid Office.

To apply for veterans’ education benefits, please complete the Veterans Online Application for Benefits (VONAPP) here, or call the VA at 888-442-4551.

THE NBSS YELLOW RIBBON PROGRAM

The Post 9/11 G.I. Bill doesn’t always cover the complete cost of education and other expenses. The NBSS Yellow Ribbon Program seeks funding for additional expenses through grants and donations. Learn more about the NBSS Yellow Ribbon Program here.

Downloadable Forms

2017-2018 Forms

NBSS Financial Aid Application

Obtain a Tax Return Transcript Instructions

NBSS Financial Aid Timeline

Veterans Online Application for Benefits (VONAPP)

Special Conditions Request Form

Dependent Student Income Verification Worksheet

Low Income Explanation Worksheet: Independent Students

Independent Student Income Verification Worksheet

Low Income Explanation Worksheet: Dependent Students

Untaxed Income Verification Worksheet for Independent Students

Asset Verification Worksheet

Untaxed Income Verification Worksheet for Dependent Students

SNAP Program Verification Worksheet

Child Support Paid Verification Worksheet for Independent Students

Parent PLUS Loan Preapproval Request Form

Child Support Verification Worksheet for Dependent Students


2016-2017 Forms

NBSS Financial Aid Application

Obtain a Tax Return Transcript Instructions

NBSS Financial Aid Timeline

Veterans Online Application for Benefits (VONAPP)

Special Conditions Request Form

Independent Student Income Verification Worksheet

Low Income Explanation Worksheet: Independent Students

Dependent Student Income Verification Worksheet

Low Income Explanation Worksheet: Dependent Students

Untaxed Income Verification Worksheet for Independent Students

Asset Verification Worksheet

Untaxed Income Verification Worksheet for Dependent Students

SNAP Program Verification Worksheet

Child Support Paid Verification Worksheet for Independent Students

Parent PLUS Loan Preapproval Request Form

Child Support Verification Worksheet for Dependent Students


Additional Forms

Student Loan Deferment Request (PDF)
Family Educational Rights and Privacy Act Release Form (FERPA)

TUITION & FEES

Tuition and fees vary among each of our Full-Time programs. Visit the individual program page for detailed information:

Note: Continuing Education courses are not covered by financial aid. Veterans' benefits may be applied to our Three-Month Furniture Making Intensive, however.

Questions?

Contact Jamie Dergay, Director of Financial Aid, at jdergay@nbss.edu or 617-227-0155 x115.

Office Hours

Monday, Wednesday, and Thursday
8:00 am - 4:30 pm

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