Will you forgive loans I have already taken on?

Will you forgive loans I have already taken on?

What does this mean for my aid package? Financial aid awards beginning in fall 2022 will include only grants and a work expectation, which will be awarded up to the full demonstrated financial need as determined by the Office of Student Financial Services.

No. Existing loans already awarded will remain the responsibility of the borrower to pay back. The no-loan program applies to financial aid packages beginning in fall 2022.

While this new program is intended to address student indebtedness, students will still be allowed to borrow from the Federal Direct Loan Program. Students seeking loan assistance should contact the Office of Student Financial Services to inquire what type of loan, and amount, would be possible.

Especially for Alums

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I love hearing what Smith is doing to support its students. How can I participate? Smith is committed to dismantling the financial barriers that can deter even the most promising students from applying to college. Learn more about our Here for Every Voice campaign and join us.

I am a recent Smith graduate still paying my own student loans. Does my small gift to The Smith Fund really matter?

Can I still borrow loans if I want to do so?

  • Yes! Smith would not be here without the generosity of generations of alums, which means the future of Smith rests on all of our shoulders. From small payday loans Illinois denominations to big dollars, every gift matters, and your participation sends a message that you understand, are grateful for and want to be part of the continuum. Participation, at every level, makes a difference in class pride, college rankings, and, most importantly, in the lives of Smith students.

Can I still borrow loans if I want to do so?

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  • In recent years, Smith has offered financial assistance in many ways, including covering the cost of health insurance for low-income students, covering the upfront costs of learning disability testing, designating a resource person for low-income students, and equalizing access to computers and other technology resources.
  • Even so, there is always more Smith can do to equalize the student experience, and we continue to make this our top priority. Indeed, President McCartney has made access a signature part of her presidency.
  • Thanks to generous contributions from alums and friends of Smith, as well as strong performance from our investments, we are now able to make an even bigger investment in our students by eliminating loans.
  • With our announcement, Smith is joining a select group of no-loan schools, including Amherst, Harvard, Yale and Princeton. We are the first women’s college to go no-loan for all of our students.

By eliminating loans, Smith will be able to recruit and enroll the best students, regardless of family circumstances. How is Smith ensuring that this initiative is known to the candidates we seek to reach?

Can I still borrow loans if I want to do so?

  • Admissions and our network of thousands of dedicated volunteers are actively working to spread the good news about this announcement. We have emailed prospective students and parents and school and community-based organization counselors. Targeted messages will be posted on the college’s various social media channels and throughout the Smith website. Alums and Smith fans can help us spread the word to great students as well!
  • We hope that announcing this decision in October will encourage students to consider applying to Smith and strengthen our financial aid packages for students admitted to the class of 2026.
  • We know that equity and inclusion improve learning outcomes. We also know that students cannot learn if their basic needs are unmet. As Professor Anthony Abrahaman Jack, author of The Privileged Poor: How Elite Colleges are Failing Poor Students, has said, Citizenship is so much more than just being in a place. It is being of it, with all the rights and privileges pertaining thereto. Offering students start-up grants will help to level the playing field.

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