There are two types of aid available: need-based and merit-based. Each student’s financial situation is different, which means that individual financial aid situations will be different.

Need-based aid for U.S. students

For U.S. citizens and permanent residents, financial aid packages typically contain a combination of three types of need-based assistance: grants, loans and work-study.

Grant aid does not need to be repaid and may be funded by Mount Holyoke, the federal government, state governments or private organizations.

Most financial aid packages include federal, state or Mount Holyoke College student loans. Here is additional information on need-based loans, including terms and conditions for borrowing.

Work-study provides aid to students for both on- and off-campus (community service) jobs. Students who work in College work-study positions while enrolled are paid hourly for their work and can use their earnings to cover books and miscellaneous expenses.

Need-based aid for international students

A typical financial aid package for international students consists of need-based grant aid, a fixed-interest student loan and campus employment.

Loan and work amounts are established in your initial financial aid award. Loan amounts generally increase by $1,000 per year.

Grant aid does not have to be repaid. Based on U.S. tax regulations, the amount of total grant aid that exceeds the cost of tuition and fees may be subject to tax withholding. For more information on taxability of scholarship, visit the Internal Revenue Service website or consult a tax professional.

A fixed-rate Mount Holyoke College Global Loan is part of most international financial aid packages. Unlike grant aid, loans must be repaid, usually within the first ten years after leaving the College. Interest on these loans accrues when repayment begins.

Campus employment may also be included in the financial aid package. Earnings are paid directly to the student based on hours worked each pay period. Students most often use earnings to cover part of their personal expenses such as cell phone bills, travel, etc.

Merit-based aid

Merit-based aid comes in several forms and does not need to be repaid.

We award non-need based scholarships and awards to applicants who have an outstanding record of scholarship and co-curricular achievement in high school and who demonstrate noteworthy leadership skills at the time of admission.

All students admitted to the Frances Perkins Program receive this scholarship, which covers the cost of tuition. These students could also be eligible for federal and state need-based financial aid to defray other costs associated with attending MHC.

We encourage you to apply for outside scholarships, including tuition benefits that may be available to parents and families through an employer, to help reduce costs.

Contact us

The Office of Student Financial Services administers financial aid and student billing.