Massachusetts No Interest Loan Program

*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.

Who Is Eligible?

To be eligible for a Massachusetts No Interest Loan, a student must:

• Physically reside in Massachusetts for at least one year, as of the start of the enrolled term, with an intent to remain in Massachusetts consistent with Board of Higher Education policy; and
• Have approved eligibility status as a “High School Completer,” ¹ per the Massachusetts tuition equity law, ² or be a U.S. Citizen, permanent legal resident, or non-citizen eligible under Title IV regulations.
• Have applied for financial aid, using the standard Free Application for Federal Student Aid (FAFSA) or a FAFSA equivalent application authorized by the Department of Higher Education.
• Not be in default of any federal or state Student Loans for attendance at any institution or owe a refund for any previous financial aid received.
• Be enrolled full time (at least 12 credits or its equivalent) in a certificate, associate’s or bachelor’s degree program at an eligible institution.
• Not have received a prior bachelor’s degree or its equivalent.
• Be maintaining satisfactory academic progress in accordance with institutional and federal standards.
• Demonstrate financial aid need as determined by the federal methodology need analysis criteria.

¹ See www.mass.edu/tuitionequity for more details.

² Pursuant to Section 9 of Chapter 15A, as amended by Section 11 of Chapter 28 of the Acts of 2023.

Eligible Institutions

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.

Award Amounts

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.

How to Apply

Complete and submit the Free Application for Federal Student Aid (FAFSA) here. Contact your financial aid office for additional application requirements and deadlines.

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.

No-Interest Loan Exit Counseling

Log in to complete your Massachusetts No Interest Loan (NIL) Exit Counseling.

No Interest Loan Guidelines and Procedures