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Tuition and Financial Aid
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Loans & Work-Study
Most financial aid packages consist of scholarships, work-study and loans. For Hamilton graduates in the Class of 2006, who had been packaged with loans, the average total indebtedness at graduation was approximately $18,000.
Stafford Loan:
- 2008-09 Student Loan Request Form
- 6% subsidized and 6.8% unsubsidized fixed interest rate
- Must complete FAFSA to be eligible
- $3500 limit freshman year and $4500 sophomore year
- $5500 limit junior and senior years
- Subsidized (within need) portion accrues no interest while student is in college
- Repayment begins 6 months after graduation and must be repaid in 10 years
Perkins Loan:
- 5% fixed interest rate
- Students cannot request a Perkins Loan; Hamilton receives limited Perkins funds
- Eligibility is based on financial need and students are notified in Award Letter
- Repayment begins 9 months after graduation and must be repaid in 10 years
Work-Study:
- Represents money that students can expect to earn working 8-10 hours a week with a campus job
- Financial Aid Office helps first-time recipients locate a job on campus
- Does not affect the bill directly, but is money earned via a bi-weekly paycheck to be applied toward expenses
| A note about Hamilton's recommended lender list There are many lenders in the education marketplace, and you may choose to borrow from whichever firm you prefer. During the spring and summer of 2006, as a service to our students and their families, five Hamilton representatives (including staff members from the financial aid and business offices and one student) performed a thorough analysis of 16 different lenders and identified four as "recommended". As part of our analysis, we researched the benefits for borrowers, comparative rates, repayment terms and the overall quality of customer service (starting with the application process and continuing through the disbursement of funds to the college and including repayment options and terms). Based on our research we recommend any of the lenders on this list. Neither Hamilton College nor any of its employees receive benefits from lenders due to inclusion on the list. |
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