Financial Aid Award

Once your financial need is determined, a financial aid award that is equal to your need will be offered.  Notices of financial aid awards will be sent soon after admission letters are mailed to first-year and transfer applicants.  The award is sometimes called an "aid package" because it may include both self-help (employment) and gift aid (scholarships and grants).  Students with lower financial need will be offered self-help. Students with greater need will be offered a combination of self-help and gift aid. Beginning with the 2008-2009 school year, Amherst College will replace all initially packaged student loans with grant assistance and offer $1,700 in employment.

Students may decide to borrow student loan to purchase a computer, replace the summer savings expectation, or replace work with loan funds. There is a loan forgiveness provision for students from developing countries who return to their homelands to work after graduation. Need-based student loans are interest-free while you are in school and low-interest during repayment after graduation. Any remaining need is met with scholarship - aid that does not have to be repaid.

You do not have to accept aid offered in the form of self- help in order to receive gift aid from the College.  The College, however, will not replace the self-help component of your aid package with scholarship or grant assistance.