Grants and Scholarships | Student Loans | Campus Employment | Award Packaging
Grants and Scholarships
Williams
- Williams Scholarship. Awarded based on your financial need as calculated by our office using Institutional Methodology.
- Stephen H. Tyng Scholarship. Distinctive scholarship that replaces the Williams scholarship and campus employment expectation, as well as reduces loan expectation. Awarded based on your financial need as calculated by our office using Institutional Methodology. All applicants who qualify for aid are considered as Tyng candidates; there is no separate Tyng application.
- Book Grant. Awarded to all applicants who qualify for aid. Pays for the actual cost of all required textbooks, course packets, and studio art fees in any course taken for academic credit.
- Health Insurance Grant. Awarded to financial aid students who enroll in the Williams student health insurance plan and who have Parent Contributions of $4,000 or less. Pays for the total cost of the annual plan.
- Study Away Fee Grant. Awarded to financial aid students who study away for one term or the entire year. Pays for the total cost of the Study Away Fee.
There are no merit scholarships at Williams. All aid is based on demonstrated financial need.
Federal
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grants (FSEOG)
- Yellow Ribbon Program (maximum school contribution is $5,000)
State
Scholarship and grant programs vary from state to state. They are based on financial need and/or merit; and you may be ineligible to receive them if you attend college outside of your home state. Residents of Connecticut, Maine, Massachusetts, New Hampshire, Pennsylvania, Rhode Island, and Vermont are expected to apply for their state grants by the applicable deadlines.
Other
- Employer Benefit. Employer tuition grant programs assist eligible employees (i.e., your parents) to pay for their dependent children’s undergraduate college education by submitting payments directly to accredited colleges and universities toward the cost of the child(ren)’s tuition.
- Outside Scholarships and Prizes. Awarded by private organizations according to selective criteria. May be based on need or merit. Classified as “outside” or “other” because they are issued by someone other than Williams, the federal government, or a state government.
Student Loans
Federal Direct Stafford
Types:
- Subsidized (need based): Loan principal is deferred and the government pays the interest on the loan while you are a student
- Unsubsidized (non-need-based): Loan principal is deferred but interest must be paid quarterly or will be added to the principal of the loan
Interest Rate & Repayment:
- 6.80% interest for undergraduate subsidized loans disbursed after July 1, 2006 and prior to July 1, 2008
- 6.00% interest for undergraduate subsidized loans disbursed after July 1, 2008 and prior to July 1, 2009
- 5.60% interest for undergraduate subsidized loans disbursed after July 1, 2009 and prior to July 1, 2010
- 4.50% interest for undergraduate subsidized loans disbursed after July 1, 2010 and prior to July 1, 2011
- 3.40% interest for undergraduate subsidized loans disbursed after July 1, 2011 and prior to July 1, 2012
- 6.80% interest for undergraduate subsidized loans disbursed after July 1, 2012
- 6.80% interest for undergraduate unsubsidized and ALL graduate loans disbursed after July 1, 2006
- Fixed interest rate
- Ten-year repayment beginning six months after graduation
- Deferments are granted while you are in college and for graduate or professional study or for economic hardship as defined by the Department of Education
Maximum Base Loan Amounts:
- First Year: $3,500
- Sophomore: $4,500
- Junior: $5,500
- Senior: $5,500
- Graduate Students: $20,500
- As of July 1, 2008, undergraduate dependent students are eligible for the Additional Unsubsidized Federal Direct Stafford Loan up to $2,000
Loan Fees:
For loans disbursed after July 1, 2011, a 1.00% origination fee is deducted from each disbursement. There is an up-front rebate of 0.50% for assumed on-time repayment of the loan. Therefore, the total amount deducted is 0.5%.
Federal Perkins
General:
The Department of Education allocates Williams College a limited amount of Federal Perkins Loan money.
Interest Rate & Repayment:
- 5% fixed interest
- Ten-year repayment beginning nine months after graduation
- Deferments are granted while you are in college and for graduate or professional study or for economic hardship as defined by the Department of Education
- Cancellation provisions for designated areas of primary and secondary school teaching, Peace Corps, and domestic service volunteers, as well as careers in law enforcement
Maximum Base Loan Amounts:
- First Year: $5,500
- Sophomore: $5,500
- Junior: $5,500
- Senior: $5,500
- Graduate Students: $8,000
Loan Fees:
There are no loan fees for the federal Perkins loan.
Williams
General:
Awarded in standard aid packages to non-U.S. students commencing with the Class of 2015. Also available to non-U.S. students for the purchase of a computer (maximum of $2,000) and/or to replace the campus job opportunity for students who are studying abroad.
Interest Rate & Repayment:
- 5% fixed interest
- Ten-year repayment beginning nine months after graduation
- Deferments are granted while you are in college and for graduate or professional study or for any reason that will cause the borrower economic hardship
Campus Employment
Federal Work Study/Campus Employment
- The opportunity to work on campus is offered to nearly all students
- Students are paid directly every two weeks for the hours they have worked
- Most students earn $8.75 per hour
- Typically, students work between 7 and 8 hours per week and use their earnings to help pay for term bill, personal, and travel expenses
- Students are responsible for securing their own campus jobs and are expected to abide by student employment guidelines
Award Packaging
If you would like to know how we package the various types of aid in your financial aid award, please review our Policies and Information.
