Financing your Master of Arts in Teaching program at Mount Holyoke College
Promising Teacher Scholarship
All applicants to the program will be eligible for scholarships up to $5,000. A separate application is required.
Mount Holyoke Educators Scholarship
All Mount Holyoke alumnae will be eligible for scholarships up to $5,000. No separate application is required.
Federal Student Loans
Students applying for a federal Stafford or GradPLUS loan must complete the Free Application for Federal Student Aid (FAFSA) for the correct academic year.
Graduate students are eligible for Stafford loans up to $20,500 for the academic year, provided they are enrolled in at least six credits per semester. The Stafford loan interest rate for the 2013-14 academic year is 5.41% and the loan is unsubsidized (interest will accrue on the loan during periods of enrollment). Repayment begins six months after the student is no longer enrolled in at least six credits. Graduate students may borrow a maximum amount of $138,500 for their graduate/professional education.
Grad PLUS Loan
GradPLUS loans are available for up to the cost of attendance minus any other awarded financial aid (including loans). The interest rate for the 2013-14 academic yeais 6.41% and repayment begins two months after the last disbursement for the academic year.
Private Student Loans
Federal loans should be maximized before borrowing from private student loan sources because the federal loan program offers more options to students for example: repayment options based on income, forbearance and deferral options during times of extreme economic hardship and in some cases, loan reduction or forgiveness for public service and teaching in high need areas.
MEFA Graduate Student Loan
The Massachusetts Educational Financial Authority (MEFA) is a non-profit state agency that offers financing to U.S. citizens or permanent residents who are studying at least half time at accredited degree-granting non-profit colleges and universities. The MEFA Graduate Student Loan for the 2013-14 academic year has a fixed interest rate of 7.09% during the in-school period and 8.09% during repayment. The deferred repayment interest rate is 7.59%.
Other alternative loans
Most lenders who offer undergraduate loans will also lend to graduate students. Mount Holyoke maintains a list of lenders from whom our undergraduate students have borrowed educational loans in the recent past.
International Graduate Students
Many of the private lenders who lend to Mount Holyoke undergraduates will also lend to graduate students who have qualified co-signers who are U.S. citizens or permanent residents. In addition, international student loan information is available at:
Student Financial Services will generate your online tuition bill for the upcoming semester in early July. No paper bills will be sent. Tuition payment for the summer session and fall semester is due by July 31. Spring semester bills are generated in early December. Payment is due by January 5.
Summer tuition: $4,100
Fall tuition: $10,880 plus SGA Fee of $93
Spring tuition: $9,520
Student Health Insurance
The Commonwealth of Massachusetts requires that all full-time students are covered by health insurance. You will be billed for the College’s student insurance plan with your tuition bill in July. If you have other qualifying health insurance you can waive the college’s coverage. Information about the plan and instructions for filing the online waiver can be found at Student Health Insurance.