There are several options available to finance a Smith education. Options include direct payments, a monthly payment plan, parent or student loans, and payments from a prepaid college savings plan. You may also combine these options into a personalized financing solution that works for your family.
Monthly Payment Plan
Smith offers semester payment plans which allow students to pay their semester balance in four equal installments. Payments are due on the 10th of the month. You can sign up for a payment plan in CASHNet, Smith’s student billing system.
Automatic Recalculation of Installment Payments
Payment plan monthly installments will automatically recalculate to reflect any changes in charges or credits.
- If a change occurs within 10 days of an upcoming installment due date, recalculation locks in the upcoming installment amount and will only spread the change over any remaining payments.
- A notification of the change in monthly installments will be sent to the plan holder when recalculation occurs
Federal Direct Student Loans
Federal direct student loans are used by many students to help finance educational costs.
A subsidized loan does not accrue interest while you are in school. An unsubsidized loan does accrue interest while you are enrolled.
The amounts vary depending on the student's circumstances and other financial aid. Please contact us to determine your eligibility.
Independent students and dependent students whose parent was denied a PLUS loan may be able to borrow an additional $4,000 each year for their first and second years of school and an additional $5,000 each year for their third and fourth years of school.
Students who do not qualify for the subsidy may still apply and borrow under the unsubsidized program. For unsubsidized loans, interest accrues from the time the loan is disbursed. Students qualifying for the subsidized loan can generally also borrow through the additional unsubsidized program.
Students must maintain Satisfactory Academic Progress.
For more detailed information, please visit studentaid.gov.
Private student loans are nonfederal educational loans in the student's name, offered through private lenders. For U.S. citizens and permanent residents, we recommend that you first explore all federal loan options before considering nonfederal private loans. International students generally require a qualified U.S. co-signer. We highly recommend that you speak with a financial aid counselor before taking out a private student loan. Please contact Student Financial Services to make an appointment.
You are able to apply for a loan from any lender that offers private education loans. Private lenders check your credit history to see if you qualify for a loan. In many cases a coborrower may be required to qualify for a loan and may help lower your cost of borrowing. Interest rates, fees and qualifications vary, so be sure to review loan details provided by lenders.
Comprehensive List of Private Vendors
Smith College does not maintain a recommended lender list. However, we do provide a comprehensive list of lenders that Smith students have used over the past three years.
Smith College has not reviewed the terms and conditions of the loans offered by these lenders and does not endorse any of them.
Please go to ELM Select to review the comprehensive list of lenders and the terms and conditions of their loans. Other private lenders exist that may not be on our list. You are able to choose any private lender that meets your needs.
Note that many credit unions are not listed individually but can be found under cu student (student choice) on ELM Select.
Smith College and its employees do not receive any benefits from lenders listed on this comprehensive list. We are committed to the highest standards of professional conduct. Please review our Code of Conduct for details of our practices.
Undergraduate international and undocumented students who are receiving need-based aid from Smith, may be eligible to borrow an institutional loan to help with educational expenses. Please email email@example.com to discuss your specific situation.
The maximum borrowing level will be based on your year in school: First Year $3,500; Sophomore $4,500; Junior $5,500; Senior $5,500 and may be limited depending on your level of need-based aid.
This Smith College Loan has a fixed interest rate of 6% and does not accrue interest while you are enrolled at Smith College. Repayment begins six months after you leave Smith or graduate.
Student loans are administered by the Office of Student Financial Services and are included in your financial aid award if you have completed the necessary requirements. Loans are a form of financial aid that must be repaid with interest.
Students at Smith must use NetPartner to accept, decline, or reduce loans offered as part of a financial aid award.
Federal Loan Deadline
Applicants interested in federal loans should complete the Free Application for Federal Student Aid (FAFSA) by February 15 or as soon as possible after applying for admission.
Students who have special circumstances and determine that they need additional funds beyond the established Cost of Attendance may appeal to increase their loan eligibility. To be considered, graduate students should contact Student Financial Services by email to request a budget form and describe their special circumstances.