Student-Reading-BooksStudent Loans for Amherst College

Located in the town of Amherst, Massachusetts, Amherst College is the quintessential small New England liberal arts college. Only 1,800 undergrads call Amherst home, and the campus looks like it was built with a postcard in mind. Founded in 1821, Amherst has a rich academic tradition, and continues to be one of the most selective and elite colleges in the country. The town of Amherst is a great place too, with a quaint town center and the proper college-town amount of awesome coffee shops and cool little stores. Amherst isn’t the only college around, either; UMass Amherst, the flagship school of the Massachusetts system, is right around the corner, while Smith College, Hampshire College, and Mount Holyoke College are all located in surrounding towns.

In addition to its academic strength, Amherst has a robust endowment and financial aid program. With a sticker price that’s now well above $57,000 per year, an Amherst education may seem impossibly expensive; fortunately, the College and the Amherst financial aid program have committed to making Amherst accessible to all those who have the academic ability to attend.

Applying for Financial Aid

Amherst practices need-blind admissions, meaning a student’s financial circumstances are not considered when a student is being evaluated for acceptance to Amherst. It also means that accepted students who require financial assistance will receive it, up to the total amount of financial need that the College deems the student to demonstrate. To apply for Amherst financial aid, students need to submit the Free Application for Federal Student Aid (FAFSA), just as at any school. In addition, students must submit the CSS/Profile, an additional form used by private colleges and universities, that allows them to gain a more detailed picture of an applicant’s financial standing. The College may require some other institutional-specific forms, but for that info you should check with the financial aid office, either online or over the phone.

Student Loans

The typical Amherst financial aid package breaks down as follows: only about 7% of the total package comes in the form of loans, with the other 93% taking the form of grants, scholarships, and self-help aid such as a work-study program. This percentage breakdown is really pretty great as far as financial aid packages go, and is representative of the strength and commitment of the Amherst financial aid program to make an education at Amherst College affordable for all those who can attend. That said, some students find themselves needing additional funding to cover their cost of attending Amherst. If you’re in this position, we recommend first looking to federal student loans, as they have low interest rates and very favorable borrowing terms. If for some reason federal student loans don’t quite cut it for you financially, private student loans can be very good for covering a financial gap between your aid and the total amount of money you need to pay for college. If you think a private student loan could be good for you, check out our Student Loan Comparison Tool to search, compare, and apply for the private student loan that best fits your financial needs.

 

Pay for Amherst College*

Total Avg. Cost $54,322
Tuition $40,862
Room & Board $10,660
Financial Aid Information
Students Receiving Fin Aid 69%
Typical Grant Amounts
State/Local $2,183
Federal $5,554
%Receiving Loans 18%
Avg. Other Stud. Loans $7,125
%Receiving Other Loans 4%

Get into Amherst College

Admission Rate 15%
Total Enrollment 1,794
Men 49%
Women 51%
Graduation Rate 95%
Application Fee $60

Contact Amherst College

Address
Boltwood Avenue
Amherst, MA 01002-5000(413) 542-2000
Financial Aid Office URL
https://www.amherst.edu/offices/financialaid/
Admissions Office URL
https://www.amherst.edu/admission

*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics

 

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