Financial Aid as a Graduate Student

Smith College seeks to provide educational opportunity for qualified students, knowing that many will require financial assistance. Financial aid for Smith graduate students consists of fellowships, tuition scholarships and student loans.

 

The School for Social Work handles its admission process independently. For students interested in pursuing either a master's or doctorate in social work, and for more information, please visit the School for Social Work website

Financial Aid Deadlines

Required materials and deadlines for applications vary by program. Please refer to the list below and to the program’s application for admission for dates and requirements.

Application for Admission

To be considered for financial aid, complete applications for admission must be received no later than the dates listed below for each program:

Program

Application Deadline

M.A.T.

April 15

M.F.A./Dance

January 3

M.F.A./Theatre

January 15

M.S./Biological Sciences

January 15

M.S./Exercise & Sport Studies

March 1

Post-Bac/Mathematics

March 15

Types of Aid

Smith College offers a number of tuition scholarships for graduate study. Amounts vary according to circumstances and funds available. If applicants are interested in scholarship assistance, they must meet the application deadline for their program of interest.

International Applicants

Scholarships are available for international applicants. Candidates should submit required forms and supporting documentation by the deadline for their program of interest.

The number of fellowships and employment stipends is limited, and all applicants are strongly urged also to apply for scholarships and loans.

In accepting one of these appointments, the student agrees to remain for the duration of the appointment.

2023–24 Stipend: $15,800

MFA students in the department of dance receive teaching fellowships and teach the equivalent of three undergraduate studio courses per year. Each fellow receives a tuition waiver for all but one of the required graduate courses.

2023–24 Stipend: $15,800

Teaching fellowships are available in the department of biological sciences. They combine fellowship aid with practical experience and an opportunity to gain competence in a specialized field of study. Each teaching fellow receives a tuition waiver for all required graduate courses.

2023–24 stipend awards vary

The Department of Exercise and Sport Studies awards stipends for work in athletics and ESS. These stipends vary in accordance with type of appointment and amount of funding available. Recipients generally carry full-time course loads and may receive varying levels of scholarship assistance.

Research fellowships are granted for work in various science departments as funds become available; stipends vary in accordance with the nature and length of the appointment. During the academic year, the research fellow usually carries a half-time graduate program.

Federal Direct Unsubsidized Student Loans

Federal Direct Student Loans are used by many students to help finance their education. Federal Direct Student loans are available to U.S. citizens only.

Domestic students who have submitted a FAFSA and who would like to borrow a federal direct student loan for the upcoming academic year can submit a request on NetPartner: From the Menu, select Online Fillable Forms.

Loan requests will be processed after financial aid applications are complete and have been reviewed. Once the loan is processed you will receive an email directing you to NetPartner to review and accept all or any portion of the loans offered.

Annual Borrowing Limits

The annual maximum loan amount for graduate students is $20,500 or the difference between Cost of Attendance and all other aid, whichever is less. Students must maintain satisfactory academic progress in order to maintain their eligibility to borrow.

Aggregate (Lifetime) Borrowing Limits

Graduate students have a lifetime limit of $138,500 in Stafford Loans. This includes both undergraduate and graduate borrowing.

The interest rate is fixed for the life of the loan. The rate of a loan is based on when it first disburses. Interest does not accrue on subsidized loans while in school whereas it does for unsubsidized loans. The rate below applies to loans for graduate level students only. 

First Disbursed Unsubsidized Interest Rate
 7/1/2023–6/30/2024  7.05%

The Department of Education charges origination fees on Direct Loans. Fees are deducted from Direct Loan amounts; therefore, disbursements to tuition accounts are a bit less than the loan amounts being borrowed. A loan's fee rate is based on when it first disburses.

First Disbursed Subsidized/Unsubsidized Loan Fee Rate
10/1/2020–9/30/2024 1.057%

First-Time Borrowers

On or after you receive your finalized award letter beginning May 1, go to https://studentloans.gov and complete:

  1. Entrance Counseling (this provides information about your rights and responsibilities as a borrower) and
  2. Master Promissory Note (not required if previously completed under the Direct Loan Program)

Smith will be notified electronically after you have completed these requirements.

Loan proceeds are applied to the student's account in two disbursements, one each semester.

  • Credit balances are automatically refunded to graduate students. Refunds are processed on a weekly basis beginning one week before the start of classes in the fall and spring semesters.
  • We recommend setting up direct deposit with the Payroll Office for faster, easier access to refunds.
  • Refunds should be expended with caution, as they are meant to cover expenses over an extended period.
  • If financial aid or charges are revised due to course changes or withdrawal, all or part of a refund may be due back.

Refund warning: A loan will not pay out if any requirements are owed. And it can take up to three weeks from the time they are satisfied for them to be received and coded to accounts for the loan to disburse and, if the loan overpays an account, for the surplus to be refunded, as these are all weekly processes. Therefore, if you are relying on a refund from this loan, be sure to satisfy any owed requirements three weeks before funds are needed.

Loan repayment begins after separation from school (graduation, withdrawal, leave of absence) or dropping below half-time enrollment and a grace period.

The grace period is a period in which payments are not due and which lasts for six months unless reduced or depleted due to a previous separation from enrollment.

Subsidized loans disbursed prior to July 1, 2012 and after July 1, 2014 do not accrue interest during the grace period. Unsubsidized loans and subsidized loans disbursed between July 1, 2012 and July 1, 2014 do accrue interest during the grace period.

The monthly payment amount is based on the amount borrowed and the payment plan that you select. If a payment is not selected, the default plan is the standard plan with a 10-year repayment period. Payments may not be less than $50 per month; therefore, the standard plan could be less than 10 years depending on the amount borrowed.

Students who have borrowed through the Federal Direct Loan programs are required to complete exit counseling if they are no longer enrolled at least half-time. Smith College will be notified electronically when this requirement has been completed.

https://studentloans.gov

Graduate Federal Direct PLUS Loan

A Graduate PLUS Loan is an option for students who require additional funding for graduate school after maximizing grants, scholarships and Direct Stafford Loans. Eligibility for the Graduate PLUS Loan is based on the student's credit history; you cannot have an adverse credit history. Available to U.S. citizens only.

The interest rate is fixed for the life of the loan. The rate of a loan is based on when it first disburses. Interest does not accrue on subsidized loans while in school whereas it does for unsubsidized loans. The rate below applies to loans for graduate level students only. 

First Disbursed Unsubsidized Interest Rate
 7/1/2022–6/30/2023  7.54%

The Department of Education charges origination fees on Direct Loans. Fees are deducted from Direct Loan amounts; therefore, disbursements to tuition accounts are a bit less than the loan amounts being borrowed. A loan's fee rate is based on when it first disburses. 

First Disbursed  Subsidized/Unsubsidized Loan Fee Rate 
 10/1/2020–9/30/2023  4.228%

The maximum loan amount is the Cost of Attendance minus any other financial aid the student receives.

Loan proceeds pay directly to the student's tuition account.

  1. Request your borrowing limit by sending e-mail, to loanhelp@smith.edu.
  2. Decide how much to borrow
  3. Apply for lender approval.
  4. Complete a Master Promissory Note (MPN).
  5. Complete Graduate PLUS Entrance Counseling.

  1. PLUS Loan requests are transmitted to Smith
  2. Credit-approved loans are reviewed for Smith approval
  3. Approved loans are originated (created in our system and transmitted to the Department of Education). The Department of Education then sends disclosures about the newly created loans directly to borrowers.
  4. Originated loans linked to valid MPNs disburse on a weekly basis, but not earlier than 10 days before the start of each term.
  5. The department assigns disbursed loans to servicers (companies that will manage the loans). Servicing includes, but is not limited to, billing, payment processing, deferment requests, etc.

Repayment of the loan begins six months after the student leaves Smith College, graduates or ceases to be enrolled at least half time. The six-month time frame is considered the grace period.

You can estimate your monthly loan repayments using the Federal Loan Calculator.

Students who have borrowed through the Federal Direct Graduate PLUS Loan program are required to complete exit counseling if they are no longer enrolled at least half-time. Smith College will be notified electronically when this requirement has been completed.

If you receive any assistance from an organization outside of the college, this aid must be taken into consideration in calculating your financial aid award. You are required to report all outside aid to the Student Financial Services office.

Once you notify us of any aid which is expected to be sent directly to the college, we will add the anticipated amount to the student account as a pending credit, reducing the amount due.  If the aid is expected to be late, please notify us so we can extend the pending credit.  Any amounts expected but not received are the responsibility of the student.

Outside aid, based on either student merit or parent employment (e.g.: employee tuition benefits), will first reduce or replace the self-help portion of your award (federal work-study). If outside aid is in excess of self-help, we will allow it to go toward the cost of the Smith health insurance plan or a one-time computer purchase.  Any amount of outside aid in excess of self-help and these costs will reduce Smith Grant dollar for dollar.

The resources listed below are here for your convenience. Smith does not endorse a particular aid source. Also, please visit the Smith Social Network to view more scholarship opportunities (you will be required to be logged into the Smith portal for access).

Searches

U.S. Department of Education
The Federal Student Aid Office website provides a free scholarship search

FastWeb
A nationwide scholarship search engine

Scholarships and Grants.US
Scholarship and financial aid resources to students preparing for all types of careers

Scholarships.com
Free scholarship search

Scholarships

Benjamin A. Gilman International Scholarship
A program that provides awards for U.S. undergraduates receiving Pell grant funding in a two- or four-year college or university to participate in study-abroad programs worldwide.

Gates Millennium Scholars
A highly competitive program for students of high academic achievement and leadership potential who have significant financial need

Big Y Scholarships
Scholarships are available to high school seniors, undergraduates, graduates, community college and nontraditional students. Open to Big Y customers and their dependents and Big Y employees and their dependents.

AES Scholarship
AES Engineering offers scholarships to motivated students

Scholarship America
Scholarship America works directly with students, parents, colleges, businesses and communities to help students fulfill their college dreams.

Educational Benefits

Smith College will consider any veteran's educational benefit as a resource for financial aid. This means that financial assistance offered through Smith may be reduced when the amount of Veteran's Administration (VA) benefits are factored into the award. This will apply to any institutional financial aid awarded. Our normal treatment for outside aid is to reduce or eliminate your self-help aid (loans or work-study). If your outside aid goes beyond these adjustments, Smith grant assistance will be reduced dollar for dollar. However, most VA educational benefits are exempt from being considered as a resource for determining federal financial aid funding levels. This means you may be allowed to keep a subsidized federal loan and federal work study, but could have a reduction in any grant assistance offered by Smith. Smith College merit awards are excluded from this treatment. Students requesting certification must fill out a Veterans Certification Request form and submit it to the Office of the Registrar along with their VA Certificate of Eligibility.

Veterans Certification Request Form (PDF)

Yellow Ribbon Benefits

Smith College is proud to be a sponsor of the Yellow Ribbon Program for our nation's veterans. This program was created as part of the post 9/11 Veterans Educational Act of 2008. Smith has made a commitment to both undergraduate and graduate students. Students seeking either a bachelor's or master's degree can apply for assistance through this program. Students must complete a Yellow Ribbon Benefits Request form to be considered. Funding is limited and will be issued on a first-come, first-served basis. Awarding will be determined by the date and time this form is returned to the appropriate office. Any student applying for this benefit is encouraged to fax or email the completed form. This program is only open to those veterans who have met the necessary qualifications for enrollment in this program. Eligibility criteria can be viewed on the U.S. Department of Veterans Affairs website.

Yellow Ribbon Benefits Request Form (PDF)

Any student awarded funding through the Yellow Ribbon Program will continue to receive this benefit as long as they remain in good academic standing and Smith continues to participate in the program. Students must also have a remaining entitlement through the VA. Yearly funding levels will depend on the amount Smith commits to this program.

Program Enrollment Maximum Contribution
Undergraduates Four students maximum each year $10,000

Funding levels above will be matched by a direct contribution from the VA. Eligible students meeting the application criteria will be awarded the benefit regardless of whether they qualify for need-based assistance. This benefit will replace need-based grant assistance on a dollar-for-dollar basis, per our outside aid policy. Students accepted into Smith's Yellow Ribbon Program will be required to present their VA Certificate of Eligibility to a school certifying official.

Graduate Tuition & Fees, 2023–24

M.A.T. Program Tuition

Fee Cost
Full academic-year program fee (after Smith award)
(12 or more credits per semester)		 $16,000
Part-time academic-year program fee (after Smith award)
(8 to 11 credit per semester)		 $8,000
Summer session tuition
(4 to 8 credits)		 $2,500

M.F.A. Programs Tuition

Fee Cost
Full academic-year tuition (awards may vary)
(16 or more credits per semester)		 $61,260

M.S./Biological Sciences Tuition

Fee Cost
Full academic-year tuition (awards may vary)
(8 to 11 credits per semester)		 $30,560

M.S./Exercise & Sport Studies Tuition

Fee Cost
Full academic-year tuition (awards may vary)
(12 to 15 credits per semester)		 $45,840

Post-Bac/Mathematics Tuition

Fee Cost
Full academic-year tuition (awards may vary)
(16 credits per semester)		 $61,260

Fees for All Programs

Application and Tuition Fees

Fee Cost
Application fee $60
Tuition fee per credit (for fewer than 8 credits/semester) $1,910

Health Insurance (Estimates)*

Coverage start date Cost
Coverage beginning August 15  $3,200
Coverage beginning June 15 (M.A.T. students only) $3,600

*This fee may be waived if you are a U.S. citizen with comparable health insurance that will cover you while in Massachusetts.

Deposit

A one-time general deposit of $100 is required from each student upon admittance. This one-time deposit will be applied to the student’s account at the start of the first semester of enrollment. It will not be refunded should the student withdraw prior to enrolling.

Withdrawals

Current students who plan to withdraw must notify the graduate director in writing before July 1 (for first semester) or December 1 (for second semester).

Contact Graduate & Special Programs

Seelye Hall 209
2 Seelye Drive
Smith College
Northampton, MA 01063

Phone: 413-585-3050 Email: gradstdy@smith.edu

Associate Dean of the Faculty/
Dean for Academic Development: 
Hélène Visentin

Program Coordinator: Ruth Morgan