Financial Aid Information for Parents

Whether this is your first time dealing with financial aid or you’re sending your youngest off to college, there’s no need for the process to be complicated. We hope to guide your family through it as smoothly as possible, and we are here to answer any questions and address any concerns that may arise. 

We want to make your child’s dreams come true here at Babson.

Babson College will meet 100% of your family’s demonstrated need in the first year, and we commit to that same amount for four years, provided there’s no major change in your family’s financial circumstances or number of children in college. So, you don’t have to stress every year that your child’s aid package is going to drastically change, and you can focus on helping your child navigate this exciting time!

Investing in Your Family

A Babson degree is more than just a business degree. It’s an investment in a career that starts even before your child graduates. Over 87% of our students have at least one internship while at Babson, and the starting salary for the Class of 2023 was $75,579, the highest in the school’s history. Our curriculum blends business and liberal arts and sciences courses, preparing students to be critical, resourceful thinkers who are ready to tackle any career they want—and maybe change the world in the process. 

Our students are ready to enter this ever-changing world, equipped with practical skills like communications and critical thinking, an entrepreneurial mindset, and the business fundamentals to get their ideas and passions off the ground. The ROI of a Babson degree is not only high, but it is vast.

*Within six months of graduation and based on a knowledge rate of 85%

Resources for Parents

Our team is here for you and your family every step of the way. Reach out to the Student Financial Services office at sfs@babson.edu or 781-239-4219 with any questions (we may have already answered them, too!). 

We also offer a guide for understanding your financial aid, which is available to download at this link, and the Department of Education’s Federal Student Aid website offers an extensive list of resources and helpful documents for parents. We look forward to working with you.

Options Available to Parents

Your student has various options to help finance their education, including merit- and need-based aid. You may wish to provide additional assistance for them, and there are parent-specific options available as well. The Federal Direct PLUS (Parent Loan for Undergraduate Students) is a federal loan specifically for parents You can apply directly on the Federal Student Aid website. There also are private loan options available through lenders.

Cost Calculators

• We break down a few scenarios you can use for comparison on our tuition page.
• MyinTuition and Net Price Calculator can calculate estimated costs and financial aid packages.
• The College Board also offers a Calculate Your Cost tool.

Loan Information

• The most recent Babson Loan Policy Statement is available and includes a list of recommended loan options for both parents and students. You are not limited to these options and should feel free to use the financing option of your choice.
• The Federal Student Aid website has information on loan consolidation and the Master Promissory Note (MPN), as well as detailed information about all the federal student loans available.
• Our student and parent alternative loan options can be viewed at this link. 

Scholarship Search Options

These resources can help you and your child find financial aid information and scholarships that are most applicable to their strengths, interests, and skills. We also list possible outside scholarships for Babson students on our Resources page (see the Frequently Asked Questions).

• The College Board
• FastWeb​
• Federal Student Aid​
• ​Fin Aid! Guide to Financial Aid
• Massachusetts Educational Financing Authority (MEFA)​
• Massachusetts Office of Student Financial Assistance​
• Peterson’s College Quest​
• The Wily Network​ (support services for youth with foster care experience​)