Welcome to the section of the website that pertains to student loans and family financing options. It is to your advantage to maximize the student's federal subsidized or unsubsidized loan eligibility before borrowing alternative or parent loans.

student center

Student Loans

Amherst College financial aid offers do not include student loans to meet calculated financial need. It is to your advantage to maximize the student's federal subsidized or unsubsidized loan eligibility before borrowing alternative or parent loans.

Monthly Payment Plan

Amherst College offers students and families the option of paying each semester's fees through a monthly payment plan administered by Nelnet Campus Commerce. The College offers a five-month payment plan for each semester, with the fall semester's first payment due on July 30 (last day to enroll is July 28), and extending through November 30. Payments for the spring semester plan will begin on December 30, and conclude on April 30.

As a general policy, Amherst College does not handle any installment payment plans directly.

For those who desire a monthly payment plan, log into your Workday account, navigate to the Finances App and select Enroll in a Payment Plan. For families or third parties who desire a monthly payment plan, the student must first authorize you to do so. For more information on authorization set-up and how to enroll, please visit the Student Accounts website.

Parent Loans

Because Amherst College participates in the Federal Direct Loan Program, PLUS Loans are borrowed directly from the U.S. Department of Education through the College. Parents may borrow a parent alternative loan through any program they choose. The following list represents the lenders from whom parents have borrowed during the past year:

Private / Alternative Loans

Many different lenders are offering alternative loans, and one should consider applying for a private, alternative educational loan only after exhausting all other possible sources of funds. Each loan is different, so you should become familiar with the criteria, benefits, fees, and the margins above the index. If possible, the student should apply with a parent as a co-borrower; the co-borrower may reduce applicable fees and will lower your interest rate.

Before choosing an alternative loan:

  1. Be sure to maximize your federal loan eligibility before applying for a more expensive alternative loan.
  2. Review the Tips for Borrowing an Alternative Loan
  3. Consider and Compare Options:

    Credible - Credible is a student loan comparison tool that enables students and parents to compare unbiased, personalized, and prequalified rates with no hidden fees and no impact to their credit. Credible is not a lender or a bank, Credible partners with student loan providers to offer a variety of competitive options. When considering a private student loan, it is important to compare rates, terms, and repayment options across multiple lenders to ensure you get a loan that fits your financial situation. Credible is free to use and your information will remain secure. You can find out more about Credible and begin the process at https://credible.com/amherstcollege

    ELMSelect - You may borrow a student alternative loan through any program that you choose.  We've partnered with ELMSelect to consolidate the alternative lender list, which is represenative of lenders families have used in the past three years. The link below will take you to ELMSelect, which is an external site.

ELMSelect lender list