Your education may be the most valuable investment you make in your life. Often, determining how to fund your education and manage your finances during that time can create a sense of confusion and uncertainty.

The Financial Aid Department at the Elizabeth Grady School offers assistance in going through the process with the greatest amount of ease possible. Prior to beginning the process there a few things potential students need to know:

What is financial aid?

Financial Aid includes different forms of monetary assistance to students. These include:

  • Federal Direct Subsidized Loans
  • Federal Direct Unsubsidized Loans
  • Federal Direct Parent PLUS Loans
  • Pell Grants

What is the difference between a loan and a grant?

Loans are monies that are lent to U.S. citizens and eligible non-citizens by the United States Government. Loans are monies that are borrowed and paid back.

A grant is gift aid that is given to U.S. citizens and eligible non-citizens, are based on need, and do not have to be paid back.

A FAFSA (Free Application for Federal Student Aid) must be completed to determine eligibility and amounts. Please continue reading to learn more information about filling out a FAFSA.

What is the difference between a Subsidized Loan, Unsubsidized Loan, and PLUS Loan?

Subsidized Loans:

  • A Subsidized Loan is a low interest loan, based on need. There is no interest or payments while in school and for six months after (grace period) on a Federal Subsidized Loan.
  • There is no credit check required.
  • Loans can range from $0 - $2,917.00 per program based on eligibility.

Unsubsidized Loans:

  • An Unsubsidized loan is a low interest loan, not based on need, in which interest accrues immediately. Payments can be deferred until 6 months after graduation.
  • There is no credit check required.
  • Loans can range from $0 - $5,000.00 per program based on eligibility.

PLUS Loans:

  • A PLUS Loan is a loan the parents of dependent students can take out to assist their child in funding his/her education.
  • PLUS loans are based on credit.

You can find out more about these loan options at 

What types of Grants are available?

  • Students who have not been awarded a Bachelor’s Degree may qualify for a federal Pell Grant.
  • Pell Grants are grants based on need as determined by U.S. government standards.
  • Pell Grant eligibility ranges from $0 -$5,163.00 per program eligibility.

How do I know if I’m eligible for Financial Aid?

To be eligible for Financial Aid, you must be:

  • Enrolled in an eligible certificate or degree-seeking program
  • Enrolled at least half-time as defined by the Office of the Registrar
  • Not in default on a Federal Stafford, Direct, or Perkins Loan or need to repay a Federal Grant overpayment
  • Maintaining Satisfactory Academic Progress in the areas of Academics and Attendance
  • A U.S. Citizen or eligible non-citizen
  • Financial aid is based on income, household size, and household members in college

Net Price Calculator

How do I know if I am considered an Independent Student or a Dependent Student?

If you answer yes to the following question you are considered a dependent student and a parent must apply for a pin number as well.

  • Were you born after January 1, 1996, single, and have no children?

If you answer yes to any of the following questions you are considered an independent student.

  • Were you born before January 1,1996?
  • Do you have dependent children?
  • Are you married?

What do I do next?

The next step is to complete your online financial aid application. This will help to determine what type(s) of financial aid you qualify for and how much. You may complete your application online or request assistance with our Financial Aid Representative by phoning 781-960-0114.

Complete the following steps to apply for Financial Aid:

Apply for a Federal Student Aid (FSA) ID

If student is a dependent student, the student's parent is required to also apply for and obtain a FSA ID.

Once your receive your FSA ID, complete your 2019-2020  Free Application for Federal Student Aid (FAFSA) at:

Remember to enter Elizabeth Grady School of Esthetics and Massage Therapy federal school code number, 017080.

Use your FSA ID to electronically sign your FAFSA.

Contact the Elizabeth Grady School Financial Aid Department at 781-960-0114 to confirm your completion and receipt of your FAFSA.

Please note: It may take up to 3-4 business days for your FAFSA to process. At this time, the Financial Aid Department can determine your Financial Aid Award Package.

Once your Financial Aid Award has been provided to you, you will be prompted to go to and complete your Entrance Counseling and Master Promissory Note (MPN) if applicable.

What is the interest rate on federal student loans?

The interest rate for subsidized and unsubsidized loans is 5.05%. Parent PLUS loan interest rate is 7.6%. (Interest rates updated 5/3/2019. Note that interest rates periodically change. Inquire with Financial Aid Representative for most current rates.)

What other options are available other than federal loans and grants?

  1. Payment Plan Options: Payment plans can be arranged by contacting the school. 50% of program costs are due on or before the midpoint. All balances due must be paid in full in order to receive your diploma and all graduation materials.
  2. Funding Available through State and Veteran’s Agencies: The Elizabeth Grady School is affiliated with various agencies that may offer financial assistance to those who qualify.

You can search online at or contact individual agencies to determine if you qualify for assistance.

What do I do if I have questions or need help?

If you should have any questions or need further assistance please contact Melissa Sandberg, Financial Aid Representative. Melissa can be reached by email at or by telephone, 781-960-0114.

Do other institutional or state regulations or requirements impact my eligibility for Title IV H.E.A. assistance?

No. No other application or information is required for consideration by the institution of the student's eligibility for assistance under the Title IV, H.E.A. program.


CARES Act Higher Education Emergency Relief Fund Reporting

Emergency Financial Aid Grants to Students

The Elizabeth Grady School of Esthetics and Massage Therapy (EGSEMT) is providing the following information as part of the reporting requirements in participating in the CARES Act Higher Education Emergency Relief Fund:

1.     On May 7, 2020, EGSEMT signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.

2.     EGSEMT has received $145,718 from the Department pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students.

3.     As of December 31, 2020, EGSEMT has distributed 142,327.45 of the Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.

4.     The are 195 students at EGSEMT eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.

5.     One-hundred and ninety-five students have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act, as of December 31, 2020.

6.     Under Section 18004(a)(1) of the CARES Act, EGSEMT determined the method to be used to determine which students receive an Emergency Financial Aid Grant and how much they would receive.  EGSEMT used the total number of hours attended by enrolled students per week and divided that amount of by the amount of the CARES Act grant funds to get an hourly value.  Then, each students grant was determined by multiplying the amount of hours they attend per week and the hourly value.

7.     Students are required to sign an addendum to their enrollment agreement contract and complete a survey verifying their current mailing address.  Students that fail to complete the survey may verify their address through e-mail or over the phone prior to receiving their portion of the Emergency Financial Aid Grant. 

8.      As of June 17, 2020, the eligibility requirements were revises for students to receive a CARES Act grant.  Students that have not received their portion of the grant must adhere to the following requirements: be enrolled or accepted for enrollment in a degree, certificate, or other program leading to a recognized educational credential at an eligible institution, maintaining Satisfactory Academic Progress (SAP), not owe a refund on grants, not be in default on any student loans, sign a Statement of Educational Purpose, provide documentation of SSN, be a US Citizen or Eligible Non-Citizen, and must not have been convicted on Title IV fraud.

Institutional HEERF Quarterly Budget and Expenditure Reporting

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Workshops for Prospective Massage Therapists

The Elizabeth Grady School of Massage Therapy hosts regular workshops for those interested in becoming a professional massage therapist. Licensed instructors and students will guide you through this expedition into the therapeutic benefits and the rewarding profession of massage therapy.

See our calendar for dates of upcoming events. Seating is limited and reservations required. Call or email Admissions to reserve a space.  781-960-0123 or


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