Understanding Your Financial Aid Award Letter - Graduate Students

This guide will help you understand the different components of your Lesley University graduate 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 and program information on the right side

2. Annual Costs

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

• Estimated tuition based on your anticipated credit enrollment
• Any applicable fees
• The total estimated direct costs you can expect to be billed

Note: Tuition is calculated based on the number of credits you plan to take. The standard calculation is based on 18 credits per academic year, but your actual costs may vary depending on your specific enrollment.

3. Estimated Financial Aid Awards and Estimated Remaining Direct Costs

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

• Federal financial aid
• Other types of financial aid
• The total financial aid available to you

Estimated direct costs will be reduced by the net financial aid available to you. 

Important: The net financial aid amount will be slightly less than the total awarded amount due to federal student loan origination fees.

4. Payment Options

There are three common ways to 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 Direct PLUS Loan 
   • Available to graduate students
   • Fixed interest rate
   • Requires credit check and separate application

5. Additional Costs to Consider

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

• Books, supplies, and equipment
• Living expenses
• Other personal expenses

Now let’s move on to the second page of your award.

6. Semester Breakdown

Page two starts with an overview of:

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

7. Enrollment Status

You’ll find important information to remember in this section. Because federal loans must be evenly distributed among each semester or 8-week term, it is vital that you let us know of any changes to your anticipated enrollment. If this applies to you, log in to the Support Hub at support.lesley.edu and submit a ticket so we can recalculate your financial aid award.

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.