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Home > College Offices > Student Financial Services > Financial Aid Package > International Students
International Students
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If a student is determined to have financial aid eligibility, the College puts together a financial aid package, which generally consists of a combination of grant, loan, and student employment aid. These three types of assistance are funded by institutional sources. Students should note that, according to U.S. tax regulations, any portion of a grant that covers all or part of room and board costs may be taxable and may also be subject to tax withholding. Any portion of a grant covering tuition is not taxable. See Financial Aid Policies for International Students for more information. You may also find the Financing Policies for International Students (PDF) helpful.
Grant Aid
MHC Global International Loan
Mount Holyoke Work (Student Employment)
Non-College Scholarships
Grant Aid
Grants are gifts that do not need to be repaid. Grant funding comes from institutional sources. College grants are based on demonstrated financial aid eligibility as determined by the College and are funded by endowment earnings, the annual operating budget, and gifts from alumnae, parents, and friends. Grants funded by Mount Holyoke include Mary Lyon Legacy Grant, Student Government Association Grant and the Health Insurance Grant.
Mount Holyoke Global International Loan
This institutionally funded loan is awarded to students demonstrating financial need and has an 8.0% interest rate, which accrues when repayment begins six months after graduation or when the student ceases to be enrolled at least half-time. The packaged loan amount increases approximately $1000-$2,000 each year, because the College believes students - as the chief beneficiary of their education - should assume increasingly greater responsibility for the cost of Mount Holyoke.
Mount Holyoke Work
Mount Holyoke provides campus employment as part of the financial aid package. Student earnings range from $1,800 to $2,100 annually, depending on their academic year. Students are paid every two weeks and on average work eight hours a week. Earnings from student jobs are not applied directly to tuition, but rather are expected to be used for books and personal expenses. A student may decline her offer of work-study by notifying Student Financial Services in writing or via email.
The College provides approximately 1,000 jobs for students in residence halls, administrative offices, academic departments, the library, and Buildings and Grounds. Students can secure jobs using the Student Employment Database (JobX), the student job board, and a Spring Job Fair, designed to help financial aid students secure jobs for the following fall. The Career Development Center handles off-campus job placements in community service. Students receiving financial aid are given priority in hiring.
International students generally are limited to working on the Mount Holyoke campus, with the exception of certain types of off-campus employment related to their studies and authorized in advance.
Non-College Scholarships
Mount Holyoke encourages students to apply for outside scholarships. Outside funding reduces the amount of student loan (and total indebtedness) or the student work commitment. It can also reduce a portion of the College grant if the scholarship exceeds $2,500 (beginning in 2008-2009). Information about outside scholarships can be obtained from high school counselors, local libraries, or the Internet.
Students receiving a scholarship must inform Student Financial Services as soon as possible. Starting in the 2008-2009 academic year, the first $2,500, plus half of any balance of the total award, is used to reduce student loans and then the student employment commitment. The remainder reduces the College grant. For example, receiving a $3,000 scholarship reduces the student loan by $2,750 and the Mount Holyoke grant by $250. The total financial aid amount, however, remains the same. See below.
| ( Examples ) |
Original Package |
Revised Package |
| Mount Holyoke Grant |
$10,000 |
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$9,750 |
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| Student Loan |
4,000 |
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1,250 |
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| Student Employment |
2,100 |
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2,100 |
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Outside Scholarship
Total Package |
0
16,100 |
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3,000
16,100 |
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