• ***The Commonwealth Covenant Fund cannot accept additional applications at this time. We have requested funding for Fiscal Year 2016, and are working to restore this funding as soon as possible. If you require assistance with a pending application, please contact emclaughlin@tre.state.ma.us. If you need additional assistance, please call Constituent Services at (617) 367-6900. Please check back to this page for any updates or additional announcements***


    About the Covenant Fund

    Eligibility Requirements

    Application Process

    List of STEM Degrees and Public Institutions

     


    About the Covenant Fund


    The Commonwealth Covenant Fund is an innovative program that provides accessible tuition loan repayments to undergraduate students who attend public universities or colleges in Massachusetts and stay to pursue careers in the STEM (Science, Technology, Engineering and Math) fields.

    The initiative is designed at making the Commonwealth a national leader in the STEM fields and developing a dynamic workforce by keeping talented professionals in Massachusetts. The Fund will enhance the ability of students to pursue degrees in these sectors while enabling the Commonwealth to strengthen its economy by expanding its STEM-related industries.

    If you answer yes to the following requirements, you may be eligible for the fund:

    • Did you graduate as an undergraduate from a public institution of higher education in Massachusetts?
    • Did you graduate after December 1, 2007?
    • Did you major in a STEM area (science, technology, engineering, math)?
    • Did you complete at least 1 year of employment in a STEM field within the Commonwealth?  

     


     

    Eligibility Requirements


    Residency

    • Applicant must reside in the Commonwealth

    Graduation

    • Graduate as an undergraduate from a public institution of higher education in the Commonwealth on or after December 1, 2007
    • Obtain a degree in a STEM field
    • Complete degree program within 3 years of reaching junior-year standing

    Employment Requirements

    • Applicants must have completed at least 1 year of full time employment in a STEM field within the Commonwealth
    • Annual income cannot exceed $65,000 for a single filer and $80,000 per year for joint filers

    Loans

    • Amount granted will be applied to principal of loan
    • CCF can only make payments to loans that were taken out while one studied at a public university in the Commonwealth.
    • Applicant will need to provide a loan statement document that contains the following information:
        • Loan balance
        • Account number
        • Payments are current
        • Address to which payment should be sent
        • Please note: Credit card loans and loans made by family members are not eligible.

     


    Application Process


    Upon reopening of the application process, the following documents would be required in addition to your completed application:

    1. Official transcript from the college or university you graduated from
    2. Employer certification indicating at least 1 year of full time employment in a STEM field in the Commonwealth of Massachusetts
    3. Employer certification must also indicate your annual salary
      1. If applicable, employer certification of spouse
      2. Employer’s contact information
    4. Copy of a loan statement indicating you are currently paying your loans; AND
      • Include the address of the Lender to which payment should be sent.
    5. Include your most recent FAFSA for your final year of schooling.

     


    List of STEM Field Degrees and Public Institutions


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