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.
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.
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.
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.
Students with demonstrated financial need may purchase a computer through a long-term, subsidized financial aid loan. Subsidized loans allow the deferment of repayment and bear no interest until after graduation.
Students without financial need, who are U.S. citizens or permanent residents, may obtain unsubsidized federal loans that allow deferment of payment, but which bear interest from the time the loan is made.