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All aided students at Smith are offered loans
and on-campus work to help meet the costs of postsecondary education. For international
students, loans and work are funded from college funds. The amounts increase each
year to help offset increases in the amount charged for tuition, room and board.
Borrower
You, the student, are the borrower of this loan.
Interest Rate and Repayment
The interest rate is 6% and begins to be assessed six months after you graduate,
withdraw, or drop below half-time enrollment. Interest can be deferred if you enroll
at least half-time in graduate school. The minimum monthly payment is $50.
Disbursement
International Loans are disbursed in two equal payments, one each semester, directly
to Smith after you sign a promissory note.
Repayment
Repayment begins six months after you graduate, withdraw, or drop below half-time
enrollment.
Your financial aid award letter offers you
an opportunity to have a job on campus. You will be paid directly for this work;
the funds do not pay into your Smith account or reduce your bill unless you make
special payroll deduction arrangements. Most students use their earnings for books,
supplies, and personal expenses. On-campus work is not required, so if you work fewer
hours than awarded, this will not affect the rest of your aid. However, the College
will not replace the unearned on-campus work award with grant aid.
Work Awards are generally based on 7-10 hours per week
for 30 weeks. First year students typically work within Building and Dining Services.
When you arrive on campus, information regarding on-campus work opportunities will
be made available to you. Upperclass students are free to apply for positions anywhere
on campus. Positions available to upperclass students include College Internships,
tutoring positions, and a large variety of other campus jobs. International students
are not eligible to work off-campus.
The earning limits shown in the award letter and on
this sheet are for term-time enrollment, defined as the period between the first
day of classes in the fall and the last day of final exams each spring. Limited opportunities
exist for internships or on-campus work during the summer. If you are able to secure
such an opportunity, summer earnings are in addition to the term-time earnings and
can be used for personal expenses, or toward the family contribution. |
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For
Domestic
Students
For
Domestic
Students with Awards
For
International Students
For
International Students with Awards
International
Work & Loan Information |
