Wellesley College is committed to working together with parents to make college affordable. We expect that families will contribute to the cost of their daughter's education. To determine how much parents are able to contribute, we consider their overall financial situation. Our way of evaluating family finances is favorable to families.

The Financial Aid Office realizes that most families cannot simply pay the costs of attending Wellesley from current income. Most of our families use a combination of the following to pay the term bill:

Financial assistance is available for only a limited number of international citizens. Its purpose is to support highly qualified candidates who could not otherwise attend Wellesley. Because of the competition for these funds, candidates should apply for them only if family resources cannot adequately meet College expenses. In determining the amount of aid given, the College examines the financial resources of the student and her family through information provided on the financial aid forms. A well-formulated financial plan is required of all financial aid applicants.

The College Board Website offers a number of calculators that you (students and parents) can use for free to view a number of financial scenarios. These are applicable to U.S. citizens and permanent residents only. They include:

As always, the accuracy of the information provided determines the accuracy of the results. The Office of Student Financial Services uses a somewhat different set of institutional policies than the College Board’s national EFC Calculator in determining eligibility for financial aid.

*This calculator is also of limited value to self-employed families with business cash flows.

We understand that a family’s financial situation can change during the course of a year. Wellesley is always ready to work with families whose changed circumstances have reduced their ability to pay. In this turbulent economy...

Does Wellesley consider family size and siblings in College?

If you receive scholarships from other sources, that money can be used to reduce the amount of your loan, work-study, and student summer income contribution. Wellesley first applies scholarships toward those parts of the financial aid award—before reducing your Wellesley College grant—thereby giving you the greatest possible benefit.

For most students, this means that all of the outside scholarship will reduce self-help. Unless specifically stated in the sponsorship letter, all outside scholarships will be evenly applied to the fall and spring semesters.

Also, state grants, Federal Pell Grants, Gear-up Grants and benefits that are not merit-based are not included in this policy. Students receiving, or expecting to receive, outside scholarships must complete the Outside Scholarship Form and submit it to our office as soon as possible.

Students may be awarded financial aid to participate in the Twelve-College Exchange and Spelman College, up to the cost of Wellesley or of the exchange institution, whichever is lower. Students on exchange at MIT are charged as Wellesley students and aided accordingly but may pay an additional charge if living in the MIT dorms.

Students may also receive aid for Wellesley College Study Abroad and Exchange Programs. For programs through other colleges or institutions, students may apply for scholarships through the Study Abroad Office.

A student admitted to Wellesley as a first-year or a transfer student is expected to furnish parent information even if she later marries and/or meets the federal criteria for independence.

A student who declares herself independent (of her parents) or a student whose parents will not assume financial responsibility for her education will not receive financial aid from Wellesley to replace the parent contribution.

Information from the parents of Davis Degree Scholars (nontraditional-age students typically over the age of 24) is not required unless the parents provide support.

We do not expect families to re-mortgage their homes for college. The portion of the parent contribution directly traceable to home equity is usually a small fraction of the total equity. Some parents choose to utilize an equity line of credit or a second mortgage because of a tax benefit, convenience and the effective marketing efforts of commercial lenders. We recommend that parents first explore parent educational loans, as most are at better rates and terms than commercial loans and some feature a home equity option.

With the Federal Subsidized Stafford Loan, interest does not accrue while you attend school more than part-time. The Financial Aid Office awards this loan on the basis of need according to the Federal eligibility formula. Anyone can qualify for the Federal Un-subsidized Stafford where interest accrues while you attend school.

You may capitalize the interest or add the interest onto the principal of the loan; however, capitalization makes the loan ultimately more expensive.

You need to complete an Entrance Interview only once for each type of loan. For example: All first time borrowers must complete an Entrance Interview for a Federal Stafford and an Entrance Interview for a Federal Perkins Loan if awarded by the Financial Aid Office.

If you have a Federal Stafford Loan, American Student Assistance (ASA) will notify you when you are able to complete your Master Promissory Note (MPN) on line.

If you have a Federal Perkins Loan, a Wellesley College Loan or a Plitt-Kirgin Loan, a servicer for University Accounting Service (UAS) called signmyloan.com will notify you when you are able to complete your Entrance Counseling session and Master Promissory Note (MPN) on line.

If you have either component as part of your aid package, you will be given priority for on-campus jobs during the first two weeks of the semester. This work component of your financial aid package means that you are expected to earn the amount of your work award during the school year to help pay for educational expenses.

"Federal Work Study" means that part of your earnings are being subsidized by the Federal government and you are eligible to use this work award for either an on campus job or an Off-Campus job that requires Federal Work-Study.

"Wellesley Student Work" means that your work award is non-federal and you will be given priority for on-campus jobs but you cannot take an off-campus job requiring Federal Work-Study.

If I am an International student am I able to work?

Yes. We encourage you to do so, but you may also want to contact some other employers with available positions posted.

If this is your first job, there are many entry-level jobs available and many on-campus employers are very anxious to employ first-year students. Before talking with a potential employer, think about your areas of interest, any specific skills you have, and any volunteer/school activities you were involved with.

Pay rates are $8.00 - $10.50 per hour.

Yes, if you need assistance, contact the Student Employment Office to schedule an appointment to review your situation.

You can contact the Student Employment Office as follows:
Email: stuemp@wellesley.edu
Telephone: (781)-283-2365
Fax: (781)-283-3946

For information about student payroll, consult the Student Payroll website at:
www.wellesley.edu/Controller/payrollpoliciesstudent.html