*The following is a brief description for students. Institutions should refer to the most recent guidelines for information.
The Massachusetts No Interest Loan (NIL) program was created to provide needy Massachusetts residents attending post-secondary educational institutions in Massachusetts with a state-funded loan. The NIL program offers zero interest loans to assist students in meeting educational costs. Students have a period of 10 years to repay their NIL loans.
To be eligible for a Massachusetts No Interest Loan, a student must:
An eligible institution is defined as a state approved public, private, independent, for profit or non-profit, issuing associate’s and/or bachelor’s degrees or certificate programs. The institution must be located in Massachusetts, and have signed a Participation Agreement with the DHE’s Office of Student Financial Assistance. The institution must also be eligible to participate in federal Title IV programs and fully accredited.
The minimum initial NIL award a student can receive is $1,000, with a maximum award amount of $4,000 per academic year. NIL award amounts are determined according to financial need. A NIL eligible student has a lifetime borrowing limit of $20,000.
Complete and submit the Free Application for Federal Student Aid (FAFSA) to the Federal Central Processor after January 1st. Contact your financial aid office for additional application requirements and deadlines. You can obtain a FAFSA from a high school guidance office, the local library, your college's Financial Aid Office or you can call the DHE’s Office of Student Financial Assistance at (617) 391-6070 to request a copy. You can also file your FAFSA electronically here.
Students who are awarded a NIL loan are ultimately required to sign a promissory note agreeing to all NIL terms and conditions, prior to disbursement of funds. For More Information, contact the DHE’s Office of Student Financial Assistance at 617-391-6070.
Log in to complete your Massachusetts No Interest Loan (NIL) Exit Counseling.