Financing Your Wesleyan Education
There are many ways to pay for a university education and many resources available to make the costs more manageable. The following guidelines, primarily designed for domestic students, summarize those resources and outline useful strategies in financial planning.
Programs for All Students and Parents
Family circumstances vary widely, and so do the means for meeting the cost of a year at Wesleyan. Need-based financial aid is available for qualifying students who applied during the application process. Other financial strategies and resources that many families use include the monthly payment plan, outside scholarship support (which initially reduces self-help amounts for financial aid recipients), and supplemental loans.
It is best to inquire about these programs early to understand your options for making Wesleyan affordable. Wesleyan’s monthly payment plan begins August 1 for the upcoming academic year. Optional tuition insurance is offered through A.W.G. Dewar, Inc. Application to Dewar must be made prior to the first day of class. For more information, visit collegerefund.com.
How Wesleyan Bills Students
Students are charged one semester at a time for tuition, fees, and the Residential Comprehensive Fee. If a student is receiving financial aid, the pending credits for the financial aid are subtracted from the account total, as long as the student has provided the Office of Financial Aid with all necessary certifications and documents.
The account balance, minus tentative credits for any financial aid not yet posted to the account, is the amount the student is responsible for paying. The full amount due must be paid within 30 days of the billing date. Fall semester charges are posted to the student account in July. Spring semester charges are posted to the student account in January. Students are not permitted to enroll unless the full amount due is paid or otherwise satisfied.
Financing Options
Monthly Payment Plans allow families to finance each semester of college costs. Each semester there is a $45 nonrefundable enrollment fee; no interest is charged. Payments run August 1 through December 1 for fall and January 1 through May 1 for spring.
Federal Parent PLUS Loans are available through the U.S. Department of Education’s Direct Loan Program. Parents may borrow up to the full cost of education, less any financial aid. A credit review is part of the application process.
Alternative Loans (also known as Private Education Loans) are loan products that are not backed by the federal government. They typically have variable interest rates and rely on a credit review to calculate the initial rate of interest. Typically the student is the borrower and often a co-borrower is required to pass a credit check to receive a more favorable interest rate. Interest accrues from the date of disbursement. Students should exhaust all federal student loan options before considering an alternative loan.
See current financing information.
Some FAQs
When should we make arrangements for a payment program?
Enrollment can begin when the semester charges are posted to the student account. The first monthly payment is due August 1.
When should we apply for an educational loan?
In order to receive loan proceeds prior to fall enrollment, applications for any educational loan should be in process by July 1.
Are any campus jobs available to students who are not receiving financial aid?
Yes. Preference is given to students who are authorized to work as part of their financial aid awards, but about one-third of the on-campus jobs typically are held by non-financial aid students. Non-University jobs are also available in the local community.
If we did not apply for financial aid but would like to explore this option, what should we do?
For U.S. citizens and permanent residents, please contact the Financial Aid Office to discuss what financing options may be available. In general, if you applied to Wesleyan without seeking financial aid, you must be enrolled one year before becoming eligible to receive Wesleyan financial aid. International students who did not apply for financial aid at time of admission are ineligible for institutional aid during their attendance at Wesleyan.
Who receives access to the student account?
The student has primary access to their student account. The student can enable guests to view their student account online or make online payments. For more information, visit the Student Accounts website.
What forms of payment are accepted by Wesleyan?
- E-check or paper check
- Cash
- Wire transfer
- Flywire for international money transfer
- Private educational loan
- Monthly Payment Plan