Wells College, recognizing that most parents finance at least a portion of their child's college education out of current earnings and that the traditional two-installment method does not meet the needs of all parents, offers a monthly payment plan. Under the payment plan, parents and students can pay the semester's tuition and room and board charges in four equal payments for a charge of $50 per semester. For the first semester, payments are due in August, September, October, and November, while for the second semester, payments are due in January, February, March, and April.
Parent loans (PLUS loans) are available to parents of financially dependent undergraduate students through the federal government. A parent may borrow up to the cost of education minus other aid, per dependent. The annual interest rate is 6.31%. Repayment of the amount borrowed plus interest begins two months after the loan is disbursed. The minimum monthly repayment amount is determined by the amount borrowed the requirement to complete repayment within 10 years.
MasterCard, VISA, DiscoverCard, and American Express will be accepted for payment of College Store and tuition charges.