2013-2014 Cost of Attending Williams
The Williams College Board of Trustees determines the above costs for each academic year in April of the preceding year. We use these amounts to build a student’s academic year budget (i.e., the estimated “price tag” for you to attend Williams for one specific academic year). We report your budget on your financial aid award notice.
These costs do not account for the travel, book, and personal expenses that you will encounter during the year at Williams. These costs vary by student; therefore, we must estimate them to calculate your budget. We estimate personal expenses (i.e., laundry; grooming; extracurricular, social, and recreational activities; etc.) at $1,500. On average, annual book expenses amount to $800 per student; however, Williams now pays for the required books of all financial aid students. We budget the estimated cost of two round trips between your home and Williams for travel expenses. Our estimate is based upon the individual student’s home residence.
Williams College Payment Plan
Williams offers 2 5-Month Payment Plans (one for fall term and one for spring term) through Tuition Management Systems (TMS). Use the Expense Planner worksheet in the Williams College Financing Guide to calculate an affordable monthly payment; you can also view the letter and information sheet from the Bursar’s Office here.
Federal Direct Plus Loan
Williams is a participant in the Federal Direct Loan Program.
- Fixed rate is 7.90%. The interest rate can be reduced by 0.25% if the borrower enrolls in the Automatic Monthly Payment service.
- A 4.00% origination fee is deducted from the loan at disbursement.
- For loans disbursed after July 1, 2008, payment can be deferred while the student is enrolled as at least a half-time student but the interest must be paid quarterly or it will be added to the principal of the loan. The parent borrower must request this option from the Direct Loan Servicer after the loan has been applied to the student’s account.
To apply, review the full instructions and information, complete the Free Application for Federal Student Aid (FAFSA) and the application and promissory note online at the Department of Education’s loan website. You can apply for a PLUS loan for 2013-2014 after May 15, 2013; we begin processing 2013-2014 loans in early July. If you still need to apply for a PLUS loan for 2012-2013, you can use the website through the last day of classes May 10, 2013.
Private Loan Certification
If your family intends to borrow a private education loan, you may need to complete the Private Loan Self-Certification Form. Send completed forms to your lender, not Williams College.
We only recommend federal student loans, which technically are considered a type of financial aid. We have no information to offer students seeking private education loans.
Federal Direct Stafford Loan Promissory Note Signing and Entrance Counseling
If you requested to borrow a Federal Direct Stafford Loan, then you must electronically sign your master promissory note and complete a brief entrance counseling session before we are allowed to disburse your loan money to your student account.
To sign your master promissory note and complete your entrance counseling, visit www.studentloans.gov. You will need your FAFSA PIN to sign into your account. If you do not remember your PIN, request a duplicate at www.pin.ed.gov. Once you successfully log into your account, you will be given the necessary instructions to complete the processing of your loan.