Financing Options for First Years

CASHNet Monthly Payment Plan

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

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

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.

Effective July 1, 2026 and beginning with the 2026-2027 academic year, with the passage of the One Big Beautiful Bill Act (OB3), significant changes were made to the Parent PLUS Loan program. Parents who are borrowing for an individual student for the first time will be limited to $20,000 per year, per student, and have a per student lifetime maximum of $65,000. This information is not expected to be finalized until the spring of 2026. Additional updates will be provided here as they become available.

*Disclaimer - the information above is the most accurate interpretation of what is available as of December 2025. Regulations are expected to be finalized in the spring of 2026.

Private Student Loans

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.

Private College 529 Plan

Smith College is a proud participant in the Private College 529 Plan, a prepaid tuition plan sponsored by more than 280 private colleges across the country, including Smith. Accounts must be held for a minimum of 36 months before they can be redeemed for tuition.  For more information, please see privatecollege529.com.