Financing & Loan Options

We’re here to help.

Student Financial Services at Wellesley College is available to provide information about the best ways to finance your education. We work with families to establish a four-year financial plan and are committed to helping families understand and access resources (including grants, scholarships, loans, and a payment plan) to manage their finances most effectively.

See Wellesley's Student Loan Policy and Loan Policy FAQ.

Monthly Payment Plan

Nelnet Enterprise Solutions: If you plan to use your savings and/or current income to cover all or part of your educational expenses, the interest-free monthly payment option offered through Nelnet helps by providing more manageable cash flow and greater budget flexibility.

 

Three, four, and five month plans are available. Plans are now available for Fall 2020 and will become available in December for the Spring. An enrollment fee of $40 per semester applies. Although Student Financial Services can provide assistance in determining the amount of your contract, you are responsible setting up your contract with Nelnet through Workday. You may contact Nelnet at 1-800-609-8056 with additional questions about setting up your payment plan.

 

Please use the below chart to plan your enrollment. Please note that the deadline to enroll for a five month plan is July 29 and cannot be extended. We recommend that you enroll prior to the bill due date of August 24 which will allow your contracted plan to appear as anticipated payments. Anticipated payments reduce the balance due at the time the bill is due. Any returned payment is subject to a fee. 

 

Outside Scholarships and Resources

If you receive a scholarship or other outside offer that was not previously considered in the determination of your financial aid offer, you must, according to federal regulations, notify Student Financial Services. Unless specifically stated in the sponsorship letter, all outside scholarships will be evenly applied to the fall and spring semesters.

Loan Options

Federal and Institutional Student Loans: Student loans offered by Wellesley College provide low-interest loans to assist students in paying their educational expenses. Please review our student loans options to find more information regarding eligibility, interest rates, and maximum loan amounts. Contact Student Financial Services with any loan related questions or if you wish to borrow additional loans. 

 

Parent Loans: Some families choose to finance their college costs through parent or family loans. Parent loan programs allow parents to borrow money to cover costs not already covered by the student's financial aid package, up to the full cost of attendance. Considering the debt burden associated with borrowing parent loans, you are encouraged to make an advising appointement with the Student Financial Services office prior to borrowing.

Private Loans: Private loans are available to students and parents who need funding beyond the limits of need-based loan programs. Because of the debt burden associated with borrowing private loans, you are encouraged to make an advising appointment with a Student Financial Services counselor before borrowing from these sources. Please visit the private loans website for more information about private loans.

Thinking of borrowing to cover part of your balance? Start by reviewing our loan information sheet.

As always, our staff is available to help you navigate these resources and is available to answer any questions you may have.  Please feel free to contact Student Financial Services