Your Earlham Award Notification

Frequently Asked Questions

How do I get a work-study job?

If Federal College Work-Study was awarded as part of your financial aid, you will attend a Work Orientation Meeting during the first week of classes. In this meeting you will complete the necessary tax forms and receive a listing of all campus employers. It is your responsibility to find a position which fits into your academic and co-curricular schedule. In the Career Development Center, they keep a “Job Book” where employers can post their openings; this book sometimes helps students focus their job search. You can also check for openings on http://earlham.erecruiting.com. The typical work-study award is based on 10 hours a week, at the current campus wage, for a full academic year. You may earn up to that dollar amount however you like. The dollar amount is the limit-it doesn't mean you must work 10 hours a week, or that you couldn't work more if you like-just don’t go over the awarded amount, or we may have to adjust your other financial aid.

How do I get paid for work-study?

Assuming your time-slips are submitted to the Accounting Office on time, you will receive a paycheck every two weeks. It is up to each student and their family to decide on the purpose of these funds. Some families plan to use earnings to help pay tuition and other charges; in which case the student would take their paychecks to Accounting, to place them in their account. Some families see it as spending money, and so the student may use it for expenses. Work-study awards will not show up on Accounting’s bills automatically, because Earlham cannot assume that a family plans to use the funds for paying College charges.

I’d like to work. Why didn’t I get work-study?

Federal College Work-Study is a need-based award. If it was not included in your aid package, then you were not financially eligible to receive it. Although most campus jobs are reserved for work-award students, there are a few positions you can fill without work-study status: teaching assistant, tutor, certified lifeguard and food service. There are also several local businesses within walking distance of Earlham, if you would like to work off-campus.

Can I use my loan money for books?

Your student loan money can be used for educational expenses, including books. If your loan funds will create a “credit” in your student account, then you can have access to that credit for books and supplies. We suggest you bring at least $500 with you for first semester costs like books, supplies and personal expenses.

What is a Direct Loan?

Direct Loans are Stafford and PLUS loans offered through Earlham and the U.S. Department of Education. It is called a Direct Loan because there are no banks involved in the application process. Earlham determines a student’s eligibility, generates the loan papers and, with Department of Ed approval, disburses the funds directly to the student’s Earlham account. The full name of the program is “William D. Ford Federal Direct Loan Program.” This program offers Direct Stafford Loans, Direct Unsubsidized Stafford Loans, and Direct PLUS (parent) Loans. These loans are described in more detail within the Earlham College Terms & Conditions of Financial Aid pamphlet which accompanies your actual Award Notification.

What is a “loan origination fee”?

This is a fee charged by the loan servicer (Direct Loans) for processing and insurance costs. It is deducted from the amount you borrow. For example, if you borrow $2625 through a Direct Loan, $78 will be deducted for the loan origination fee, and $2547 is what actually is disbursed to your student account for the year.

When do I have to repay my student loans?

This depends on the type of loan.

Perkins Loan: repayment begins nine months after you graduate, withdraw or drop to less than half-time enrollment.

Direct Stafford Loan: repayment begins six months after you graduate, withdraw or drop to less than half-time enrollment.

Direct Unsubsidized Stafford Loan: repayment of interest begins immediately. Repayment of the principal balance and interest begins six months after you graduate, withdraw or drop to less than half time enrollment.

Direct PLUS Loan: (this is a parent loan) repayment begins 60 days after the loan is fully disbursed. For most loans the second/final disbursement is in January, so that would mean repayment starts sometime in March.

Do I have to pay my loans while I’m in graduate/professional school?

You can apply for deferment (postponing your loan payments) if you are attending school at least half-time. There are other situations which merit deferment status as well. This information is covered in Loan Entrance Counseling which is required for first-time borrowers.

Can I borrow less than what is in my aid package?

Yes! We offer the maximum for which you are eligible so that you are aware of the loans as a resource, but we encourage students and families to borrow only what they need. Just let us know on the Financial Aid Update Form what student loans you want to reduce.

Are there payment plans I can use to pay my balance?

Yes. Earlham's Accounting Department offers a Deferred Payment Plan as well as a monthly automatic bank withdrawal plan (Earlham DirectPay) to help families finance tuition costs. A comparison chart of loans and payment plans is included in the Planning section of this guide.