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Self-Help: Student Loans
Amherst College has replaced the loan component of all financial aid awards with scholarship aid. This loan elimination represents a huge financial commitment by the College and is expected to aid middle income families applying to Amherst.
Students may still choose to borrow a student loan to purchase a computer, replace an expected summer savings shortfall, or replace work in the financial aid package.
- Amherst College Loans. The College provides loans from its own funds for international students. The loan program provides for long-term repayment at moderate interest rates. The repayment period may be as long as ten years, although a monthly minimum payment of $50 is required. Repayment of principal is not required while a student is at Amherst or at another recognized post secondary institution. Repayment may be deferred for graduate school attendance, for service in the military, for voluntary work in social service agencies, and for professional internships. The loan will be cancelled in the event of death or total permanent disability.
- Short-Term Loans. Short-term loans may be made to any Amherst student for emergency purposes and in case of financial need not covered in the usual procedures for long-term loans.