International Students

Financing Policies for International Students

Welcome to Mount Holyoke College! We are pleased to provide you with important information about financing a Mount Holyoke College education. The following information will provide you with specifics about our financial aid policies for international students. Detailed information is also available on the Student Financial Services (SFS) website at www.mtholyoke.edu/sfs. 

Financial Aid

To be considered for financial aid, an international applicant must apply for financial assistance at the same time as she applies for admission. The intent to apply for financial aid must be indicated on the admission application. Students who indicate on the admission application that they will not apply for financial aid will not be considered for aid after they have been accepted to the College nor will they be eligible for financial aid in subsequent years.

The Financial Aid Package

If the family resources cannot support the full cost of the education, the student will have eligibility for need-based financial aid. Students who do not have eligibility for financial aid are notified at the time of admission. A typical financial aid award consists of a fixed-interest student loan, a campus job, and grant aid. Due to college financial aid policies, some awards may not include all three types every year. However, as tuition and other educational costs increase in subsequent years, additional types of aid may be used to fill the institutional financial aid eligibility.

Grant Aid

Grant aid, which does not have to be repaid, is drawn from College funds. Students should note that, according to U.S. tax regulations, any portion of a grant that covers all or part of residence hall and meal costs may be taxable and may also be subject to tax withholding charged to the student’s Mount Holyoke College bill. (Any portion of a grant covering tuition is not taxable.)

Student Loans

A Mount Holyoke College Global Loan is included in most financial aid packages. The packaged loan amount increases approximately $1,000 each year. Total estimated student loan debt over four years ranges from $20,000 to $30,000.

The Global Loan is a College loan with an eight (8) percent interest rate. Interest on this loan accrues when repayment begins, which is six months after graduation, withdrawal, or a nonacademic leave of absence. Unlike grant funds, loan funds must be repaid, usually within the first ten years after leaving the College.

Student Employment

Campus employment may also be included in the financial aid package. To earn this income students work on campus approximately ten hours a week throughout the academic year and are paid biweekly. Earnings from campus work are not applied directly to the tuition bill; rather, it is expected that earnings will be used for books and personal expenses.

Student jobs are available in residence halls, administrative offices, academic departments, the library, and the facilities management department. Students are responsible for securing a campus job and may do so using the Student Employment Database (JobX). Students receiving financial aid are given priority in hiring. Generally, international students 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. During the academic year (which does not include January intersession and summer), students may not earn more than $2,100. This limit is strictly enforced.

Payment of Bill

The student bill is only available online; students are notified monthly via Mount Holyoke College email that the bill is ready for viewing. Students are encouraged to enroll parents and other sponsors to receive the viewing notification. Students and enrolled parents/sponsors will be able to view and print the bill. Student Financial Services sends the notification for the tuition, room, board, and mandatory fees in July for the fall semester and in December for the spring semester. The health insurance fee is charged in the fall and covers a full twelve month period. Students cannot move into residence halls or attend or register for classes until all semester fees have been paid (or until provisions for payment plans or loans have been approved). Campus charges for books, health services, parking, equestrian center, library, and course materials will be included on the bill as they occur. Payment is due at the end of each month.

The Family Contribution

An international student’s family contribution is determined when she first applies to the College. The family contribution is based on an assessment of the family’s income and asset information and verified with additional documentation such as certified letters from parents’ employers and bank statements. The family contribution is the sum the family is expected to contribute towards the billed costs for tuition, room, board and the SGA (Activities) fee. The same family contribution will be required each year until graduation. Per College policy, requests for reconsideration of the family contribution cannot be considered, regardless of changes in individual circumstances.

Additional Expenses

It is important to understand that the family contribution does not represent the family’s comprehensive cost. Whether or not there is financial aid eligibility, the family will also be responsible for additional expenses as follows:

Health Insurance

International students are required to carry the comprehensive health insurance policy provided by the College. The fee for this coverage is determined annually.

Transportation

Any costs associated with travel to and from campus are the family’s responsibility.

Student Visa

In general, all foreign citizens must obtain a visa status that permits them to engage in baccalaureate-level study in the United States, obtain a U.S. Social Security Number, and work on campus.  To obtain a visa, all foreign citizens must complete the Certification of Finances provided by the College so that Mount Holyoke can issue the required I-20 form, and any costs associated with obtaining the visa are the family’s responsibility.

Summer Plans

United States Citizenship and Immigration Services (USCIS) regulations allow foreign citizens on student visas to work on campus only. There may be opportunities to do research and work with faculty on campus during the summer.

Semester Breaks

The student budget does not include funds to cover expenses during semester breaks in November, late December and January, and March. While opportunities are available to remain on campus during breaks, a student is expected to provide funds to cover her expenses during those periods when dining services are not available.

Certification of Finances

All foreign citizens must complete the Certification of Finances provided by the College before Mount Holyoke can provide an I-20 form, which is necessary in order to obtain a visa.

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