Procedures for Aid Transfer

If you are awarded a Laurel Fellowship and/or you expect to use any government or other outside aid (including parent loans and payment plans) for study abroad (or study away in the US), you must follow these steps  to process your funds. If your parents (or anyone else) will be contributing toward your expenses, please share this information with them.

It is your responsibility to ensure that all required forms are submitted on time.  Student Financial Services will not be able to finalize your aid eligibility or disburse any funds until your file is complete.  You must also submit all of the regular financial aid forms that you ordinarily submit to reapply for aid from the College by the May 1 deadline, even if you expect to use only federal and/or state aid for study abroad.  (International students awarded Laurel Fellowships do not need to reapply, as their family contribution is fixed at the time of admission.)

This summary of procedures provides an overview of the steps required to process the aid for which you are eligible.  For important additional information about procedures and to obtain the required forms, see Guidelines and Policies for Aid Transfer.

Confirming Your Budget: Consortium Agreement Form
Disbursing Your Funds: Disbursement Form
Paying Your Program
Checklist: What You Must Do

Confirming Your Budget: Consortium Agreement Form
Once you have been accepted to a program, we require a Consortium Agreement Form to confirm the actual program cost.  Student Financial Services will use the information on the form to prepare a budget and package the aid for which you are eligible.

The Consortium Agreement form is due in Student Financial Services by June 1 (for fall or full year); December 1 (for spring).

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Disbursing Your Funds: Disbursement Form
The Disbursement Form authorizes Mount Holyoke to release your aid from your account.  Aid is sent by check to a US bank account designated by you.  Funds are disbursed in August (for fall) and January (for spring).  If you will be studying abroad for the year, your aid will be divided into two disbursements. Mount Holyoke's administrative fee of $750 per semester for study abroad will be deducted before your funds are disbursed.

We cannot disburse funds prior to August (for fall programs) or January (for spring programs), even if your program has an earlier payment due date. You may need to ask your program to defer payment of fees.  Most programs will allow you to defer payment of amounts to be covered by financial aid; send your program a copy our guidelines and a printed copy of your award details from the awards tab of Financial Aid Online as verification. Contact Student Financial Services if your program requires a copy of your financial aid award on letterhead.

If there is an unpaid balance on your account at Mount Holyoke, funds equal to the amount owed to the College will be deducted and the remainder sent to you.

The Disbursement Form is due in Student Financial Services by June 1 (for fall or full year); December 1 (for spring).

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Paying Your Program
Students who participate in Mount Holyoke programs and exchanges, and in some affiliated programs, will pay Mount Holyoke. All other students will pay their program/university directly, and should have bills sent to them, not to Mount Holyoke.

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Checklist: What You Must Do
Use this checklist to help ensure that you follow all of the necessary steps in a timely way.

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