Financing Options

We offer several financing options, including direct payments, a monthly payment plan, parent or student loans, payments from a prepaid college savings plan and the Federal Parent PLUS Loan. You may also combine these options into a personalized financing solution that works for your family.

Smith offers semester payment plans which allow students to pay their semester balance in four equal installments. Payments are due on the 10th of the month. You can sign up for a payment plan in CASHNet, Smith’s student billing system.

Federal direct student loans are used by many students to help finance educational costs.

A subsidized loan does not accrue interest while you are in school. An unsubsidized loan does accrue interest while you are enrolled.

The amounts vary depending on the student's circumstances and other financial aid. Please contact us to determine your eligibility.

Independent students and dependent students whose parent was denied a PLUS loan may be able to borrow an additional $4,000 each year for their first and second years of school and an additional $5,000 each year for their third and fourth years of school.

Students who do not qualify for the subsidy may still apply and borrow under the unsubsidized program. For unsubsidized loans, interest accrues from the time the loan is disbursed. Students qualifying for the subsidized loan can generally also borrow through the additional unsubsidized program.

Parent PLUS Loans are offered by the Department of Education (Dept.) for parents of undergraduate students who are considered dependent in terms of federal aid.  Borrowers must be U.S. citizens or eligible noncitizens. Approval is credit-based.

The borrowing maximum is the cost of attendance minus all other aid - - it is NOT the billed amount due. Depending upon the composition of each student’s aid award and billed charges, a PLUS Loan for the maximum amount could leave a balance due or overpay the tuition account.

Private student loans are nonfederal educational loans in the student's name, offered through private lenders. For U.S. citizens and permanent residents, we recommend that you first explore all federal loan options before considering nonfederal private loans. We highly recommend that you speak with a financial aid counselor before taking out a private student loan.

Comprehensive List of Private Vendors

Smith College does not maintain a recommended lender list. However, we do provide a comprehensive list of lenders that Smith students have used over the past three years.

Smith College has not reviewed the terms and conditions of the loans offered by these lenders and does not endorse any of them.

Please go to ELM Select to review the comprehensive list of lenders and the terms and conditions of their loans. Other private lenders exist that may not be on our list. You are able to choose any private lender that meets your needs.

Note that many credit unions are not listed individually but can be found under cu student (student choice) on ELM Select.

Smith College and its employees do not receive any benefits from lenders listed on this comprehensive list. We are committed to the highest standards of professional conduct. Please review our Code of Conduct for details of our practices.