New York Times: The (Yes) Low Cost of Higher Ed

Submitted by Caroline J. Hanna
The college and President Anthony W. Marx were referenced several times in this essay about top universities becoming "significantly more affordable for the majority of students."

Aid for First-Year and Transfer Students

Your educational objectives should be the most important factors in choosing a college, but the cost of attendance may also be a major consideration for you and your family. Amherst College is committed to making financial aid available to all students with financial need so that cost does not become the determining factor in making a decision about Amherst. For this reason, you should not fail to apply for admission to Amherst because of financial need.

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.

Self-Help: Student Loans

Amherst College financial aid packages do not include student loans to meet demonstrated financial need. Students may still decide to borrow to purchase a computer, replace the student income contribution, replace work in the financial aid package, or as a family financing option. All student loan programs provide for long-term repayment at moderate interest rates. The repayment period may be as long as ten years and a monthly minimum payment is required. Repayment of principal is not required while a student is enrolled at Amherst or another recognized post secondary institution.

Plan and Estimate Your Share of College Costs This calculator is a tool that can help you determine how college financial aid and education loans are awarded. Do you qualify? 
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Aid For Parents

There are several programs that can assist your parents in meeting their obligation for your college costs. Here is a summary of a number of parent loans and family financing alternatives.

Monthly Payment Plan

This plan is sponsored by the College and administered by Tuition Management Systems (TMS). Through the plan, a student's semester charges may be paid in five installments beginning in June for the fall term and beginning in November for the spring term. Those starting the plan after June 15 for the fall semester, or after November 15 for the spring semester must include back payments with the application.

There is a $35 per semester non-refundable application fee; there is no finance or interest charge.

Parent Loans

There are many loan programs that can assist your parents in meeting their obligation for your college costs.

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.  Your 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.  

Tips for Alternative Student Loans

Suggestions when Borrowing an Alternative Loan

  1. Take time to carefully review your family’s financial situation and identify every financing resource available. Be sure to explore all options before applying for an alternative loan.

Amherst College Will Replace Loans with Scholarships in Financial Aid Packages for All Students Beginning in 2008-09

Move Expected To Aid Middle-Income Families July 19, 2007 Contact:Stacey Schmeidel Director of Public Affairs 413/542-2321