Financial Aid FAQ

Frequently Asked Questions:
Especially for admitted students
and their families

At this stage of the admission process, you or your family may have questions or concerns about financing a Wellesley education. If so, be in touch with us in Student Financial Services (SFS) early! We encourage you to contact us as soon as possible and ask to speak with a Student Financial Services counselor at 781.283.2360 if you have questions, need more detailed information, or wish to discuss your financial aid award.

In the section below, we answer frequently asked questions from admitted students and their families. But please feel free to contact us if you have individual questions that aren't answered here. We also encourage you to visit the Student Financial Services website for details and additional FAQs about the topics in the table below.

financial aid faq  
Especially for admitted students and their families
Understanding Fin Aid Educational Financing Loan Policy
Student Employment Student Accounts eBilling


 

 

Frequently Asked Questions
(for admitted students and their families)
 

How does Wellesley's financial aid policy benefit students?
Wellesley's financial aid policy eliminates or reduces loans for students with the greatest financial need. Wellesley's commitment to keeping debt levels low provides students with more choices upon graduation, such as immediately attending graduate school, working in the public or nonprofit sector, or starting a career. For more information, visit Student Financial Services. See Facts & Stats andUnderstanding Financial Aid.

What happens if my family's financial circumstances change?
Students (US and Canadian citizens and permanent residents) may apply for financial aid in future years, even if they are not initially eligible. Changes that occur during the year are handled on a case-by-case basis. The earlier that Student Financial Services is informed, the better.

What types of loans are available, and what are the differences between educational and other loans?
Educational loans generally offer better terms than commercial or personal loans. For details, see the section on Educational Financing.

How do we choose from among loans and lenders?
First, identify your priorities for borrowing— interest rate, monthly payment, deferment provisions, or home equity option— and carefully read the literature for each loan. The Student Accounts Office will mail detailed payment and loan information to admitted students. Telephone the lender with questions; their answers will also be a good indicator of how the loan will be serviced. You may also contact SFS for more information. If necessary, we can help you identify options.

As a student, can I work on campus at Wellesley?
During the first two weeks of the semester, students with work-study aid are given priority for on-campus jobs. After this period, all students can apply for on-campus jobs. Students typically work 8-10 hours per week. See Student Employment for details.

Can I participate in study abroad and exchange programs if I receive financial aid?
Yes. Wellesley is committed to providing enrichment opportunities for all students—regardless of their financial means. Financial aid can be used at approved study abroad programs. The cost of attendance includes Wellesley's tuition and the abroad program's other costs. The loan portion of the aid is increased since students cannot work abroad.

How many students receive financial aid?
More than 50 percent of Wellesley students receive some financial assistance. Last year, 58 percent of students received aid. Financial aid scholarships of $50 million support Wellesley students.

Must I maintain a certain academic average to ensure my financial aid?
You must make satisfactory academic progress and maintain at least a C average.

What about balancing my work-study job with my academic commitments?
If your financial aid award includes an academic-year earnings expectation, this amount is what the College expects you to be able to earn during the academic year to cover a portion of your educational expenses without jeopardizing your academic priorities.

Are there additional costs to attend campus events?
Most campus events, concerts, films, dance performances, and athletics events, etc. are free with a Wellesley ID. In addition, many activities at nearby colleges and universities are either free or geared towards student budgets.