Understanding Your Wellesley College Financial Aid Award International 2022-2023

UNDERSTANDING YOUR WELLESLEY COLLEGE FINANCIAL AID AWARD Congratulations on your admission to Wellesley! You have done the hard work necessary to gain admission, and we are happy to award you a financial aid package that fully meets your calculated need.

STUDENT FINANCIAL SERVICES Schneider Center 122 Website: www.wellesley.edu/sfs Email: sfs@wellesley.edu Tel: 781-283-2360 Facebook: www.facebook.com/ wellesleysfs

We encourage you and your parents or guardians to use this guide to carefully review your award package. Please contact Student Financial Services (SFS) as soon as possible if you have any questions.

SFS Counselors are here to assist you. If you are still considering other colleges, carefully compare your bottom-line costs.

WHAT SETS WELLESLEY APART 1. Wellesley is committed to making education affordable to students. Our financial aid policy has increased scholarships/grants and eliminated loans for all international students. In addition, Wellesley works closely with families to offer multiple ways to pay, including electronic wire options.

2. Wellesley is committed to providing consistent aid for all four years. Because your family contribution is calculated at the time of admission, annual costs and financial aid are very predictable.

International applicants are not required to reapply for financial aid in subsequent years.

3. We base your financial

aid award on the full cost of attendance at Wellesley. When we determine your financial need, we include not only tuition, room, and meal plan, but also expenses for books, personal items, and health insurance.

HOW WE COMMUNICATE WITH ENROLLED STUDENTS & PARENTS Student Financial Services will primarily communicate electronically with the student throughout her time at Wellesley.

We work to keep parents up to date, but we encourage students to keep their parents informed and updated.

Notices regarding your financial aid and student account will be sent to your Wellesley College email.

Wellesley’s official method of billing is through Workday Student. Monthly billing statements are sent in lieu of a paper bill to a student's email address. We highly encourage students to add any financially responsible third party (especially parents) as an authorized third party user (TPU) in Workday. TPUs will receive monthly billing notifications to the email address designated by the student.

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SAMPLE FINANCIAL AID AWARD LETTER

HOW TO UNDERSTAND YOUR AWARD LETTER Wellesley provides full disclosure in a letter enclosed in your admission packet. This letter details the cost of attendance, expected parental contribution, expected student contribution, and your financial aid award. Some schools send a letter stating the financial aid award but not the full cost of attendance, which can be confusing.

Make sure you understand what the real bottom line is for your family.

WELLESLEY COLLEGE Student Financial Services Dear Student, Congratulations on your acceptance to Wellesley College and welcome to the Class! We are please to offer you financial assistance for the academic year based on the costs below:

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1. TOTAL COST OF ATTENDANCE

Your Cost of Attendance includes both Direct Costs (those billed by Wellesley) and Indirect Costs (estimates).

This helps us determine your financial aid eligibility and is not your bill. Your Cost of Attendance is your cost to be a student at Wellesley College for one year.

Tuition and Fees Housing and Meals Books and Supplies Other Educational Costs Estimated Cost of Attendance

$ $ $ $ $

Based on a careful and thorough review of the financial aid application submitted, you qualify for the following grants (gift aid that does not require repayment):

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2. NEED BASED GRANT ASSISTANCE

Institutional Grant(s) Wellesley College Grant

Total $ $

Total Grant(s)

Grants do not have to be repaid. Grants are used to meet your full need after work and outside resources.

Wellesley College has determined that you have the following resources available to meet your costs: Expected Family Contribution: x

3. WORK STUDY

Students with work-study listed as part of their aid are given priority for on-campus jobs. Job information is listed on the Student Employment Website: wellesley. edu/sfs/ studentemployment

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•A student’s work-study award is not a grant and is not credited to the term bill.

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Work Study Allocation Wellesley Student Work Calculated Family Contribution Calculated Parent Contribution Calculated Student Contribution Total

$ $ $ Total $ $

•First-year students are paid a minimum of $12 per hour.

•To meet U.S. Immigration law, students must prove their citizenship and/or work eligibility status.

•You will be required to present original documentation and identification to our staff during orientation.

NEXT STEPS

4. PARENT CONTRIBUTION

Monitor your email and portal. Because Student Financial Services primarily communicates with you via email, it is important that you monitor your email and share important information with your parents.

To determine your Parental Contribution, Wellesley College considers your family’s financial situation, makeup, and location. Wellesley does not examine a family’s actual expense budget.

5. STUDENT CONTRIBUTION

Wellesley assumes that students will contribute to their education. All students are expected to invest a minimum of $1,950 per year using summer work earnings, outside scholarships or subsidized student loan borrowing.

Provide any missing required items. Carefully review your award letter for any additional information required. An up-to-date list of requirements is available on your applicant portal.

Student Employment Paperwork. Information regarding work authorization forms and required documents will be sent to your Wellesley College email in early August.

Contact us if you have questions.