Student Financial Services Updates

Contacts   |   Forms & Deadlines

Frances Perkins Students

• Fall 2008 credit balance refund checks for eligible Frances Perkins students are expected to be issued beginning October 1st. 
• Students eligible for advance payment of a portion of their refunds should receive them beginning September 10th. 
• Please visit information for Nontraditional Students for additional details.

eBills Now Available!  Paper bills will no longer be mailed.

• Fall payment was due July 31st and is now past due.
• Students should NOT give anyone their ISIS username and password.  Authorized users must be given their own login information.
• Visit Payment of Bill for more details.
• ePayment is also available. 
• See Frequently Asked Questions for instructions on viewing the eBill and setting up authorized users.
• Authorized Users login through CashNet. 
• View the News and Information for Parents and Students (PDF) brochure that was sent home in June.

Credit of Federal Student Aid to Student Accounts

• Federal regulations require that schools cannot disburse federal funds to a student account until 10 days prior to the semester start date.
• Students are reminded that pending aid will not show under ISIS Account Activity.  Pending aid is shown on the eBill and is reflected in the balance due on CashNet.
• SFS will begin moving federal funds from anticipated aid to actual credits on August 28th.
• All documents required for disbursement and loan paperwork must be complete for disbursement to occur. 
• Please see the Documents tab of Financial Aid Online.

Deadline to Waive Student Health Insurance Plan Approaching

•  The deadline for waiving coverage has been extended to September 10, 2008. 
• All students have been automatically enrolled in the Student Health Insurance Plan and will remain enrolled unless they complete a waiver option.
• State law requires that this form be filed annually with the College.
• You may purchase the Pre-Paid On-Campus Health Care coverage separately by selecting this option on the on-line waiver (cost $220).   
• More information on Student Health Insurance...

MEFA Announces Loan Availability for Fall 2008

• MEFA Loans will not be available for fall 2008 due to the difficult capital markets conditions.  Families waiting for the MEFA announcement to make a financing decision should consider alternative sources and make a decision within a timely fashion.
• The Federal Direct PLUS Loan is a fixed rate option with an interest rate of 7.9%.  The PLUS Loan also has a deferral option.
• More information and application processing for the PLUS...

Students Borrowing a Federal or Institutional Loan for the First Time 

• Students awarded a Federal Perkins Loan and/or a Mount Holyoke College Loan must complete Entrance Counseling and eSign their Master Promissory Note.
• Students awarded a Federal Direct Student Loan (FDSL) must complete Entrance Counseling and sign a Master Promissory Note.
• Check Financial Aid Online to see your Your Award, Messages and Your Loans for types and amounts.
• For more information, please see Student Loans.

H.R. 5715 - Ensuring Continued Access to Student Loans Act of 2008 - Signed into law May 7, 2008

• The bill makes significant changes to federal student aid programs, including several that seek to provide liquidity in the federal student loan market. 
• As of July 1, 2008, all domestic students are eligible to borrow an additional $2,000 in unsubsidized Federal Direct Student Loan per year. Unsubsidized loans have an interest rate of 6.8% that accrues after disbursement.  Please maximize your federal loan options before considering private alternative loans. To request the maximum FDSL available to you, please complete an Additional Federal Direct Student Loan Request and return it to Student Financial Services. To discuss your financing options, please call the office at 413-538-2291.
• More information on student loans...