Grants, Scholarships and Loans

Pell Grants
Federal Pell Grants are awarded on a sliding scale up to $7,395 per year to students with exceptional financial need. Applicants must be enrolled in a degree program and have not already have obtained a bachelor’s degree. Student eligibility and grant amounts are determined by the US Department of Education but vary with enrollment status and program of study.

Federal Pell Grant Lifetime limit: An eligible Federal Pell Grant recipient has a lifetime limit of 12 full-time semesters or six full years of eligibility. This federal policy is retroactive to whenever a student first received a Federal Pell Grant and includes payments received at colleges or universities that the student attended prior to SNHU.

Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG is a campus-based federal grant program with awards ranging from $100 to $1,000 per year, depending on demonstrated need and availability of funds. Grants are awarded to students with exceptional financial need, and typically to students receiving Federal Pell Grants.

Iraq and Afghanistan Service Grant
A student may be eligible to receive the Iraq and Afghanistan Service Grant if they are not eligible for a Pell Grant, and their parent or guardian was a member of the US Armed Forces and died as a result of service performed in Iraq or Afghanistan after September 11, 2001. Additional rules require the student to be under 24 years old or enrolled in college at least halftime at the time of the parent or guardian’s death.

Children of Fallen Heroes Scholarship
A student may be eligible to receive the Children of Fallen Heroes Scholarship if the following terms are met: the student is eligible for a Pell Grant and the student must have been less than 24 years of age or enrolled at an institute of higher education at the time of his or her parent’s or guardian’s death. The student becomes eligible if the parent or guardian died in the line of duty as a result of service while performing as a public safety officer or military service person. Unlike the Iraq and Afghanistan Service Grant, a student is not eligible for this scholarship if they are not Pell Grant eligible.

State Grants and UNIQUE
State grant funding is received by SNHU from various states to assist students with the cost of education. Students should contact their home state agencies to see if they qualify for state assistance at Southern New Hampshire University.

NH Residents
The state of New Hampshire does not have a state grant program. However, students may qualify for the UNIQUE program. Eligible New Hampshire students will be automatically notified of their financial aid offer if they qualify.

Need-Based Grants
Southern New Hampshire University grants are based on demonstrated financial need and are available for full-time undergraduate day students. Need-Based Grants range from $400 to $14,400 annually.

Business

Finlay Family Scholarship
Established by Southern New Hampshire University alumnus Robert J. Finlay, this scholarship supports New Hampshire residents enrolled in a graduate or undergraduate School of Business major. Preference will be given to full-time students who display an entrepreneurial spirit and can show financial need.

Hassa Jadvani Memorial Scholarship
Supports students enrolled in the Graduate School of Business. Preference will be given to students enrolled in the International Business or Finance curriculum using standard need and academic criteria. In a year when there are no deserving needy students majoring in the indicated subject areas, the awards may be presented to other students enrolled in the Graduate School of Business.

John and Nancy Burk Endowed Scholarship
The scholarship is created in memory of George Teloian, professor emeritus of accounting. Professor Teloian served as long-term chairman of the Accounting Board at SNHU. During the course of his 36-year career, he inspired, mentored and helped launch the accounting careers of many students until his retirement in 1998. This scholarship supports undergrad or graduate students, on-campus or online, majoring in accounting who demonstrate financial need. Undergraduate students must be of junior or senior status.

Matthew Stuart Van Kleek
This fund supports graduate students enrolled in a business program.

School of Business Scholarship Fund
The Southern New Hampshire University Alumni Association and the School of Business have raised money to support this scholarship program. It provides scholarships to School of Business undergraduate and graduate students based on need and academic criteria.

General

Alumni Leadership Scholarship
Created by the Alumni Board of Directors, this scholarship supports students who have completed at least two terms with a minimum GPA of 3.0. Recipients will have demonstrated leadership skills in the SNHU community and be actively engaged in student life.

Fisher Family Scholarship
The Fisher family established this scholarship fund to be awarded to students who have shown a commitment to the academic support services of the University. Awards are based on a student’s commitment to the improvement of the skills, knowledge and competencies needed to successfully complete their collegiate education as demonstrated by continuous improvement of their academic performance over several semesters. Priority is given to tutors and mentors.

Veterans

Edward Nassar Veterans Memorial Scholarship
In memory of Edward Nassar, a former student at Southern New Hampshire University, the Southern New Hampshire University Alumni Association has created a scholarship fund designed to provide assistance to deserving, needy Southern New Hampshire University students. Preference is given to veterans of the armed forces and/or their dependents. Candidates are required to submit a letter of consideration. A GPA of 2.8 or higher is required, awarded based on financial need and academic standing.

Veterans Scholarship
This scholarship, founded by alumni who are veterans of the Vietnam War, supports current students who are veterans, the dependents of veterans or actively serving in the military. Awards are based on need and academic criteria.

International

Li Xu Scholarship Fund
This fund was established in memory of SNHU student Li Xu (aka Oscar). This scholarship is awarded to International and US undergraduate or graduate students who demonstrate the strong giving and sharing spirit of Li Xu by showing their commitment to the needs of new students. Scholarship applicants should demonstrate an interest in helping new students understand the academic culture of the University and social culture of New Hampshire in an effort to assist them in adjusting to the University.

Arts, Sciences and Education

James D. Walter Memorial Scholarship
Established in memory of James D. Walter, a longtime professor of sociology at SNHU, this scholarship supports full-time undergraduate students majoring in a liberal arts discipline, with preference given to sociology majors.

John P. Fleming Memorial Scholarship
Established in memory of John P. Fleming, a former SNHU faculty member, this scholarship supports undergraduate students majoring in the programs traditionally identified as the liberal arts.

Kimon and Anne Zachos Scholarship
Awards will be made to full-time undergraduate day students majoring in a liberal arts discipline. The scholarship will primarily be based on financial need.

Liberal Arts Scholarship
Awards will be made to undergraduate students majoring in the programs traditionally identified as the liberal arts who have maintained a GPA of 3.3 or higher, using standard need and academic criteria.

The Walter Zimmermann Scholarship
Established by former Southern New Hampshire University faculty member Walter Zimmermann, this scholarship supports students who are enrolled fulltime on campus with a declared major of psychology. Students must be of junior or senior status and in good academic standing. Preferences will be given to students who are making positive contributions to the psychology department and have demonstrated financial need.

Business

Dr. Jacqueline Mara Scholarship
Established by former dean and trustee emeritus Dr. Jacqueline Mara, this scholarship supports full-time day graduate students of U.S. citizenship with preference given to those enrolled in traditional business disciplines; based on academic merit and need.

Dr. Marty J. Bradley 3-Year Business Honors Scholarship
This scholarship was created in memory of Marty J. Bradley, a former SNHU professor. This scholarship will be awarded to full-time students entering their second or third year as an honors student in the Degree in Three program. To be eligible, students must have a minimum GPA of 3.0 and be highly involved in university life and activities. Priority is given to students who are making significant contributions to the Degree in Three program and who demonstrate financial need.

Economic/Finance Scholarship Fund
This scholarship supports students enrolled in economics/finance or related programs. Applicants must have a minimum GPA of 3.0.

Ernest Lamundo/Labatt USA Scholarship
This scholarship was established by Labatt USA in honor of longtime employee Ernest Lamundo. It supports students majoring in hospitality management with a minimum 3.0 GPA and financial need. Preference is given to juniors and seniors.

Frank & Eleanor Barnes Alumni Scholarship
Established in 1979 in honor of Frank and Eleanor Barnes, former Southern New Hampshire University information technology professors, this scholarship is available to assist students majoring in information technology or accounting/information systems and is based on need and academic criteria.

George Teloian Scholarship
George Teloian, professor emeritus of accounting, has made provisions for an endowment fund in his name. Scholarships are awarded to juniors or seniors majoring in accounting. Awards are based on academic achievement in the accounting major, overall record, excellence in involvement in university life and activities, and financial need.

Hawaux Foundation Scholarship
This scholarship supports students enrolled in the traditional full-time undergraduate day program. It will be awarded to rising seniors in the sports management program with a minimum GPA of 2.7. The recipient must demonstrate financial need.

Henry W. Bloch Scholarship
This scholarship is awarded to full-time undergraduate students who are enrolled in their junior or senior year at Southern New Hampshire University, are academically qualified students in a business major and have demonstrated financial need. Priority is given to students who are highly involved in college life and activities.

Hospitality Scholarship Fund
Scholarships are awarded to students majoring in hospitality management who show financial need.

Tony Lambert Scholarship Fund
The Tony Lambert Memorial Fund was established by the Lambert family to support retailing and management majors. Awarded to juniors based on need and academic criteria.

Engineering, Technology, and Aeronautics

Frank & Eleanor Barnes Alumni Scholarship
Established in 1979 in honor of Frank and Eleanor Barnes, former Southern New Hampshire University information technology professors, this scholarship is available to assist students majoring in information technology or accounting/information systems and is based on need and academic criteria.

Scott Caswell Memorial Scholarship
After his death in 1987, this fund was created by friends of Scott Caswell to benefit juniors or seniors who are enrolled in computer-related majors. Recipients must be residents of New Hampshire and have a minimum GPA of 3.0.

William Trueheart Scholarship
Established in honor of former SNHU professor William Trueheart, this scholarship fund is offered to support information technology majors with financial need. Preference is given to juniors or seniors with a GPA of 3.3 or higher.

General

Presidential Scholarship
Students selected for a Presidential Scholarship will be notified at the time of admission and may receive additional types of financial assistance based on demonstrated need. Individual scholarship amounts vary and are awarded based on a high school cumulative grade point average (GPA) of a 3.5 or higher (on a 4.0 scale). The Presidential Scholarship is renewable by maintaining a minimum 2.5 cumulative grade point average. Failure to maintain the required GPA may result in the loss of scholarship funds.

Dean Scholarship
Students selected for a Dean Scholarship will be notified at the time of admission and may receive additional types of financial assistance based on demonstrated need. Individual scholarship amounts vary and are awarded based on a high school cumulative grade point average (GPA) of a 3.5 or higher (on a 4.0 scale). The Dean Scholarship is renewable provided the student remains enrolled in their originally declared program of study and by maintaining a minimum 2.5 cumulative grade point average. Failure to maintain the required GPA or changing one’s declared academic major may result in the loss of scholarship funds.

Housing Scholarship
Students selected for a Housing Scholarship will be notified at the time of admission and may receive additional types of financial assistance based on demonstrated need. Individual scholarship amounts vary and are awarded based on a high school cumulative grade point average (GPA) of a 3.0 or higher (on a 4.0 scale). The Housing Scholarship is renewable by maintaining campus resident status and satisfactory academic progress (SAP). Transferring to commute status or failing to maintain the requirements of SAP may result in the loss of scholarship funds.

The Athletic Scholarship Fund
This scholarship supports student-athletes who have sophomore, junior or senior standing. Students must possess the appropriate athletic skills and meet the current NCAA and institutional eligibility standards.

Christine Zimmermann Memorial Scholarship Fund
Established in memory of a former Southern New Hampshire University employee, Christine Zimmermann, this scholarship supports students who possess a disability as determined by the Office of Disability Services, are enrolled fulltime in the undergraduate program and have a GPA of 2.5 or higher.

Dow Scholarship
This fund was established from the Franconia College Endowment to provide scholarships with preference first to students who reside in the towns of Franconia, Sugar Hill, Easton, Bethlehem, Littleton or Lisbon and second to students who reside in Grafton and Coos counties.

Educational Continuum Scholarship
This fund was established by the Southern New Hampshire University Educational Continuum. This scholarship is awarded to qualified students from Manchester, New Hampshire and the surrounding area based on financial need and academic merit.

The Edward S. Wolak Scholarship
This fund is established in honor of Edward S. Wolak, an SNHU trustee. Scholarships from this fund are designated for full-time students enrolled in the University College division and at least in their second year of study with a minimum GPA of 2.0. Preferences will be given to students who are present or former members of the Boys and Girls Club or have worked at least 1 year in a quick-service restaurant.

Hector Boiardi Scholarship
This fund was established in memory of Hector Boiardi to provide scholarships to students with financial need who have shown a real interest in culinary studies.

John & Betty Miles Scholarship
The principal requirement for candidates to be eligible for the scholarships will be the inability to afford the total tuition after available financial aid. An additional requirement will be a history of a serious learning attitude and achievement (grades, projects, etc.). Students eligible for scholarships will be US citizens enrolled in undergraduate programs.

Kappa Chi Scholarship
The Southern New Hampshire University Alumni Association and the Kappa Delta Phi National Affiliated Sorority, Kappa Chi Chapter have raised money to support this scholarship.

Kappa Delta Phi Scholarship
The scholarship supports deserving students in need at Southern New Hampshire University.

Kappa Sigma Scholarship
The scholarship supports deserving students in need at Southern New Hampshire University.

Michael DeBlasi Scholarship Fund
This scholarship supports full-time undergraduate day students with a minimum GPA of 3.0 and financial need.

New Hampshire Governor's Scholarship
The New Hampshire Governor's Scholarship Program is designed to provide financial assistance for tuition, fees and direct costs to eligible high school graduates or recent high school graduates within the state of New Hampshire. Eligibility is limited to first-time, full-time students who are Federal Pell Grant recipients. Requirements include New Hampshire residency, graduation from a New Hampshire high school or a New Hampshire high school equivalency and cannot be an adjudicated delinquent or convicted or pled guilty or nolo contendere to any felonies or any second or subsequent alcohol or drug related offenses. Annual awards are based on students who demonstrate exceptional financial need through the filing of the FAFSA and the availability of funding.  
2 categories of scholarships include:

• Designated New Hampshire scholars will receive $2,000 per year and must maintain at least a 2.5 GPA to renew their scholarship for up to 4 years
• Non-New Hampshire scholars will receive a $1,000 scholarship and must maintain at least a 2.0 GPA to renew their scholarship for up to 4 years 

Phi Delta Psi Scholarship
This scholarship supports deserving students in need at Southern New Hampshire University.

The Richard and Joanne Gustafson Scholarship Fund
This scholarship will be awarded to a student who has demonstrated an active engagement in campus life, combined with a practical application of their degree program. The scholarship will be a balance of need and academic performance. Preference will be given to a student who is a legal resident of New Hampshire.

Ronald L. Woodward Memorial Scholarship
The Ronald L. Woodward Memorial Scholarship was created in honor of a former Southern New Hampshire University student and Rochester, New York native by the Southern New Hampshire University Alumni Association. Students whose homes are located in upstate New York shall be given first priority. Preference will be given to students majoring in accounting, accounting/information systems, information technology and business administration, based on need.

Student Ambassador Scholarship
This fund, created by the Student Ambassadors at SNHU, is selected by a committee of the Student Ambassadors to deserving students who possess a cumulative grade point average of 3.0 or better, have demonstrated financial need and have shown outstanding service to the SNHU community.

Timothy Russell Travel/Study Scholarship
This scholarship supports students who to travel to and from their internship location. Students must have a minimum of 3.0 GPA majoring in hospitality management and must qualify for credit-bearing internships outside of New England, either nationally or internationally.

Tremblay/Eldridge Scholarship Fund
This scholarship fund supports students and student-athletes enrolled in full-time undergraduate or graduate programs.

William S. Green Scholarship
This fund was established in honor of William S. Green, a charter member of the Southern New Hampshire University Board of Trustees and chancellor emeritus. Scholarships from this fund are designated for juniors or seniors who have maintained a cumulative GPA of 3.0 or higher and have conducted themselves in a manner that has both served and brought credit to the university. Financial need is also a factor in determining recipients of this scholarship.

Women’s Faculty Scholarship
The Southern New Hampshire University Women’s Faculty Scholarship was created in 1990 by the women faculty of SNHU, then New Hampshire College. The scholarship acknowledges and supports students who demonstrate an ongoing commitment to human and environmental rights, economic justice, gender equity and community service. Each year SNHU Women’s Faculty Scholarships will be awarded to those on campus applicants who best represent those values.

International

Charles and Barbara Bickford International Scholarship
The scholarship shall be awarded to graduate or undergraduate international student(s) studying on the Manchester campus.

Direct Subsidized Loans are offered based on financial need. The government pays the interest on Direct Subsidized Loans while you’re attending school at least half-time and during the six-month grace period.

Direct Loan Borrower Requirements

First-time direct loan borrowers must complete the following requirements before a loan disbursement will be applied to their student account: 

• Complete entrance counseling online, which helps you learn about direct loans, how the borrowing process works, managing your education expenses and understanding your rights and responsibilities as a borrower.
• Complete the Master Promissory Note (MPN), which is a legal document that says you promise to repay the amount borrowed and any accrued interest to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). Review a sample MPN to fully understand the terms and conditions of direct loans as well as borrower responsibilities. SNHU uses the multi-year MPN, which means students can borrow additional direct loans on a single MPN for up to 10 years.

Borrower Rights and Responsibilities

As a direct loan borrower, you have the right to:

• Receive a copy of a promissory note before or after the loan is made.
• Receive a disclosure statement – including information about interest rates, fees, loan balance, and the size and number of payments – before repayment of the loan begins.
• Benefit from a grace period or deferred payment on certain loans after leaving school or dropping below half-time enrollment, before payments begin.
• Prepay all or part of the loan without a prepayment penalty.
• Choose from several repayment options and have the option to periodically change the repayment plan if necessary to obtain an affordable loan payment.
• Receive written notice if the loan is sold to another lender.
• Apply for a deferment (if eligible) of the loan payments for certain specified periods.
• Request forbearance from the lender/servicer if unable to make payments and don't qualify for a deferment.
• Receive proof when the loan is paid in full.
  
   

As a direct loan borrower, you’re responsible for:

• Repaying the loan, including accrued interest and fees, regardless of the completion of the degree or certificate, completion of the program of study, employment status or satisfaction with the education.
• Completing exit counseling when you leave school or drop below half-time enrollment.
• Notifying the lender/servicer within 10 days if there is a change to your name, address or phone number; drop below half-time enrollment status; withdraw from school or transfer; or change the graduation date.
• Directing all correspondence to the lender/servicer (which could change during the life of the loan).
• Making monthly payments on the loan after leaving school unless you’re in the grace period or have been granted a forbearance or deferment.
• Informing the lender/servicer of anything that might change the eligibility for an existing deferment.
  
   

Annual Borrowing Limits

Annual borrowing amounts are defined by an academic year and based on cumulative credits earned toward a specific degree program.

Lifetime Borrowing Limits

Direct loan limits are defined by the government and dictate how much in direct loans a student may borrow. The graduate-level loan limit also includes any loans borrowed for an undergraduate program.

Responsible Borrowing

You should borrow only what you need to help with the cost of education. After you receive your financial aid offer, you may decrease or decline loans that you don’t need to fund your education. This will reduce your overall student debt when you enter repayment. To revise a loan offer, follow the procedure outlined in your financial aid offer and contact Student Financial Services for more guidance. 

Direct Subsidized Loan Instructions

Students are required to sign a Master Promissory Note (MPN) and complete online entrance counseling before receiving a direct loan disbursement.

If you are a first-time Direct Subsidized and/or Unsubsidized Loan borrower:

Step 1: Complete a loan entrance counseling session:

• Go to studentaid.gov
• Click the Log in to Start button next to your correct student type. 
• Log in using your FSA ID.
• Follow the instructions to complete loan entrance counseling. 

Step 2: Complete a Master Promissory Note (MPN):

• Go to studentaid.gov
• Click the Log in to Start button next to your correct student type.
• Log in using your FSA ID. 
• Follow the instructions to complete a Master Promissory Note.

If you do not remember your FSA ID, you can access it online at https://studentaid.gov/help/forgot-fsa-id

Exit Counseling

After you graduate, drop to a less than half-time status or are no longer enrolled, you are required to complete exit counseling. Exit counseling prepares a borrower for repayment by reviewing borrowing history, identifying loan servicers, forecasting monthly payment schedules, identifying repayment plans and providing strategies for successful repayment. 

To complete this counseling requirement online:

• Go to studentaid.gov.
• Click the Log in to Start button next to your correct student type. 
• Log in using your FSA ID.
• Follow the instructions to complete Loan Exit Counseling.

National Student Loan Data System (NSLDS)

Although NSLDS is still available for students, currently FSA is moving toward a consolidation of all websites to a “one-stop shop” at studentaid.gov. Students will be able to get student aid information collected from NSLDS by logging into studentaid.gov using their FSA credentials. See FSA Partners for more information.

Repayment

Repayment for direct loans begins six months after you graduate, withdraw, stop attending or your enrollment status is less than half time. The standard repayment term is 10 years, and the interest rate may vary depending on the type of direct loan and the disbursement date.

Visit the Federal Student Aid site to learn more about the following repayment plans and deferment/forbearance options available to you depending on the type of loan borrowed:

• Repayment plan options include Graduated Repayment, Extended Repayment, Saving on a Valuable Education (SAVE), Pay As You Earn (PAYE), Income-Based Repayment (IBR), and Income-Contingent Repayment (ICR).
• Deferment options may be offered for various reasons including enrollment in graduate fellowship or approved rehabilitation training programs, unemployment, economic hardship, service in the Peace Corps, and active military service.
• Discretionary forbearances may be offered for various reasons including financial difficulties, medical expenses, change in employment and other reasons acceptable to your loan servicer.
• Mandatory forbearances are offered to those who are serving in a medical or dental internship, part of a residency program, completing qualified teaching, national service award recipient in AmeriCorps and activated members of the National Guard.

Loan Servicer

A loan servicer is a company that handles the billing and other services on your federal student loans. Your loan is assigned to a loan servicer by the U.S. Department of Education. The loan servicer will provide regular updates on the status of your Direct Loan, work with you on repayment plans and/or loan consolidation, and will assist you with other tasks related to your federal student loans. It’s important to maintain contact with your loan servicer. If your circumstances change at any time during your repayment period, your loan servicer will be able to help. For more information about loan servicers, visit the Federal Student Aid site.

Direct Unsubsidized Loans are loans with interest that are not paid by the government. Unlike subsidized loans, the borrower is responsible for the interest from the date the loan is disbursed, even while you’re still in school. You may defer paying the interest while you’re in school by capitalizing the interest; however, this capitalization increases the overall payoff amount of the loan. 

Direct Loan Borrower Requirements

First-time direct loan borrowers must complete the following requirements before a loan disbursement will be applied to their student account:

• Complete entrance counseling online, which helps you learn about direct loans, how the borrowing process works, managing your education expenses and understanding your rights and responsibilities as a borrower.
• Complete the Master Promissory Note (MPN), which is a legal document that says you promise to repay the amount borrowed and any accrued interest to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). Review a sample MPN to fully understand the terms and conditions of direct loans as well as borrower responsibilities. SNHU uses the multi-year MPN, which means students can borrow additional direct loans on a single MPN for up to 10 years.

Borrower Rights and Responsibilities

As a direct loan borrower, you have the right to:

• Receive a copy of a promissory note before or after the loan is made.
• Receive a disclosure statement – including information about interest rates, fees, loan balance, and the size and number of payments – before repayment of the loan begins.
• Benefit from a grace period or deferred payment on certain loans after leaving school or dropping below half-time enrollment, before payments begin.
• Prepay all or part of the loan without a prepayment penalty.
• Choose from several repayment options and have the option to periodically change the repayment plan if necessary to obtain an affordable loan payment.
• Receive written notice if the loan is sold to another lender.
• Apply for a deferment (if eligible) of the loan payments for certain specified periods.
• Request forbearance from the lender/servicer if unable to make payments and don't qualify for a deferment.
• Receive proof when the loan is paid in full.
  
   

As a direct loan borrower, you’re responsible for:

• Repaying the loan, including accrued interest and fees, regardless of the completion of the degree or certificate, completion of the program of study, employment status or satisfaction with the education.
• Completing exit counseling when you leave school or drop below half-time enrollment.
• Notifying the lender/servicer within 10 days if there is a change to your name, address or phone number; drop below half-time enrollment status; withdraw from school or transfer; or change the graduation date.
• Directing all correspondence to the lender/servicer (which could change during the life of the loan).
• Making monthly payments on the loan after leaving school unless you’re in the grace period or have been granted a forbearance or deferment.
• Informing the lender/servicer of anything that might change the eligibility for an existing deferment.
  
   

Annual Borrowing Limits

Annual borrowing amounts are defined by an academic year and based on cumulative credits earned toward a specific degree program.

Lifetime Borrowing Limits

Direct loan limits are defined by the government and dictate how much in direct loans a student may borrow. The graduate-level loan limit also includes any loans borrowed for an undergraduate program.

Responsible Borrowing

You should borrow only what you need to help with the cost of education. After you receive your financial aid offer, you may decrease or decline loans that you don’t need to fund your education. This will reduce your overall student debt when you enter repayment. To revise a loan offer, follow the procedure outlined in your financial aid offer and contact Student Financial Services for more guidance. 

Direct Unsubsidized Loan Instructions

Students are required to sign a Master Promissory Note (MPN) and complete online entrance counseling before receiving a direct loan disbursement.

If you are a first-time Direct Subsidized and/or Unsubsidized Loan borrower:

Step 1: Complete a loan entrance counseling session:

• Go to studentaid.gov
• Click the Log in to Start button next to your correct student type. 
• Log in using your FSA ID.
• Follow the instructions to complete loan entrance counseling. 

Step 2: Complete a Master Promissory Note (MPN):

• Go to studentaid.gov
• Click the Log in to Start button next to your correct student type.
• Log in using your FSA ID. 
• Follow the instructions to complete a Master Promissory Note.

If you do not remember your FSA ID, you can access it online at https://studentaid.gov/help/forgot-fsa-id

Exit Counseling

After you graduate, drop to a less than half-time status or are no longer enrolled, you are required to complete exit counseling. Exit counseling prepares a borrower for repayment by reviewing borrowing history, identifying loan servicers, forecasting monthly payment schedules, identifying repayment plans and providing strategies for successful repayment. 

To complete this counseling requirement online:

• Go to studentaid.gov.
• Click the Log in to Start button next to your correct student type. 
• Log in using your FSA ID.
• Follow the instructions to complete Loan Exit Counseling.

National Student Loan Data System (NSLDS)

Although NSLDS is still available for students, currently FSA is moving toward a consolidation of all websites to a “one-stop shop” at studentaid.gov. Students will be able to get student aid information collected from NSLDS by logging into studentaid.gov using their FSA credentials. See FSA Partners for more information.

Repayment

Repayment for direct loans begins six months after you graduate, withdraw, stop attending or your enrollment status is less than half time. The standard repayment term is 10 years, and the interest rate may vary depending on the type of direct loan and the disbursement date.

Visit the Federal Student Aid site to learn more about the following repayment plans and deferment/forbearance options available to you depending on the type of loan borrowed:

• Repayment plan options include Graduated Repayment, Extended Repayment, Saving on a Valuable Education (SAVE), Pay As You Earn (PAYE), Income-Based Repayment (IBR), and Income-Contingent Repayment (ICR).
• Deferment options may be offered for various reasons including enrollment in graduate fellowship or approved rehabilitation training programs, unemployment, economic hardship, service in the Peace Corps, and active military service. 
• Discretionary forbearances may be offered for various reasons including financial difficulties, medical expenses, change in employment and other reasons acceptable to your loan servicer.
• Mandatory forbearances are offered to those who are serving in a medical or dental internship, part of a residency program, completing qualified teaching, national service award recipient in AmeriCorps and activated members of the National Guard.

Loan Servicer

A loan servicer is a company that handles the billing and other services on your federal student loans. Your loan is assigned to a loan servicer by the U.S. Department of Education. The loan servicer will provide regular updates on the status of your Direct Loan, work with you on repayment plans and/or loan consolidation, and will assist you with other tasks related to your federal student loans. It’s important to maintain contact with your loan servicer. If your circumstances change at any time during your repayment period, your loan servicer will be able to help. For more information about loan servicers, visit the Federal Student Aid site.

The Direct Parent PLUS Loan is an unsubsidized loan for biological or adoptive parents of dependent students. Parent PLUS Loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. The FAFSA is required to process a Parent PLUS Loan. The lender is the U.S. Department of Education, and you can learn more about this loan, the current interest rate and loan fees through the Direct PLUS Loan program.

Approval for the Parent PLUS Loan is based on a parent's credit check for adverse credit history and the undergraduate student being enrolled at least half time in a degree program. Your parent can complete a PLUS Request on the Department of Education's website to apply for the Parent PLUS Loan. (A parent is required to use their own FSA ID to complete the PLUS Request.)

If a parent is denied for a Parent PLUS Loan, then the parent may choose to:

• Appeal by documenting to the Department of Education that there are extenuating circumstances related to the parent's adverse credit history.
• Obtain an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if the primary borrower does not repay it. If you’re a parent borrower, the endorser cannot be the child on whose behalf you are borrowing.
• Take no action on the PLUS application and first- and second-year students (up to 59 credits) may be eligible for $4,000 in an additional Direct Unsubsidized Loans. Third- and fourth-year students (59 credits and above) may be eligible for an additional $5,000.

There are advantages in considering the Parent PLUS Loan over a private educational loan. As a family, you should decide which loan option best suits your needs. There’s no obligation to accept this loan if approved.

Repayment

Repayment for a Parent PLUS Loan typically begins 30 days after full disbursement of the loan and the borrower will have 10 years to repay the loan. The standard repayment term is 10 years, and the interest rate may vary depending on the disbursement date.

Visit the Federal Student Aid Site to learn more about PLUS repayment plans, deferment, discretionary and mandatory forbearance options. 

Responsible Borrowing

You should only borrow what you need to assist with the cost of education and not just the amount that is eligible to borrow. After you receive your offer letter, if the amount being received is more than needed to cover the cost of the current year’s tuition and expenses, then you’ll need to make sure to reduce or cancel the loan amount(s) not needed. This will reduce your overall student debt when entering repayment. To revise or cancel a loan, follow the procedure outlined in the initial financial aid offer email.

Parent PLUS Borrower Requirements

First-time Direct Parent PLUS Loan borrowers must complete the following requirement before a loan disbursement will be applied to the student’s account.

• Complete the PLUS Master Promissory Note (MPN), which is a legal document in which the parent promises to repay the amount borrowed and any accrued interest to the U.S. Department of Education. It also explains the terms and conditions of the loan(s). SNHU uses the multi-year MPN which means parents can borrow additional Direct PLUS Loans on a single MPN for up to 10 years except for parents who obtain an endorser. Parents who obtain an endorser when borrowing a Direct PLUS Loan must complete a new MPN for each loan attached to an endorser.

Borrower Rights and Responsibilities

As a direct loan borrower, you have the right to:

• Receive a copy of a promissory note before or after the loan is made.
• Receive a disclosure statement – including information about interest rates, fees, loan balance, and the size and number of payments – before repayment of the loan begins.
• Benefit from a grace period or deferred payment on certain loans after leaving school or dropping below half-time enrollment, before payments begin.
• Prepay all or part of the loan without a prepayment penalty.
• Choose from several repayment options and have the option to periodically change the repayment plan if necessary to obtain an affordable loan payment.
• Receive written notice if the loan is sold to another lender.
• Apply for a deferment (if eligible) of the loan payments for certain specified periods.
• Request forbearance from the lender/servicer if unable to make payments and don't qualify for a deferment.
• Receive proof when the loan is paid in full.

As a direct loan borrower, you’re responsible for:

• Repaying the loan, including accrued interest and fees, regardless of the completion of the degree or certificate, completion of the program of study, employment status or satisfaction with the education.
• Completing exit counseling when you leave school or drop below half-time enrollment.
• Notifying the lender/servicer within 10 days if there is a change to your name, address or phone number; drop below half-time enrollment status; withdraw from school or transfer; or change the graduation date.
• Directing all correspondence to the lender/servicer (which could change during the life of the loan).
• Making monthly payments on the loan after the student leaves school unless in the grace period or granted a forbearance or deferment. 
• Informing the lender/servicer of anything that might change the eligibility for an existing deferment. 

Annual Borrowing Limits

A parent can only take out an amount that is equal to or less than the student's Cost of Attendance (COA). The student's COA is calculated by taking into account tuition and fees, living expenses, books and supplies, and miscellaneous fees.

Direct Parent PLUS Loan Instructions

Step 1: Apply for a Parent PLUS Loan: 

• Go to studentaid.gov
• Click the Learn More button next to the Direct PLUS Loan Application for Parents.
• Log in using your FSA ID. 
• Follow the instructions to complete a Parent PLUS Loan application.

If you are a first-time borrower: 

Step 2: Complete a Parent PLUS Master Promissory Note (MPN): 

• Go to studentaid.gov
• Click the Log in to Start button next to I’m a Parent of an Undergraduate Student.
• Log in using your FSA ID. 
• Follow the instructions to complete a Parent PLUS Loan MPN.

If a parent successfully appeals or obtains an endorser, the parent borrower is required to complete online credit counseling for PLUS Loan borrowers. The PLUS Credit Counseling can help parents understand the obligations associated with borrowing a PLUS loan and assist them in making careful decisions about taking on student loan debt.

Complete PLUS Credit Counseling for an Appeal or Endorsed PLUS Loan: 

• Go to studentaid.gov
• Click the Log in to Start button under Complete PLUS Credit Counseling.
• Log in using your FSA ID. 
• Follow the instructions to complete PLUS Credit Counseling. 

If you do not remember your FSA ID, you can access it online at https://studentaid.gov/help/forgot-fsa-id.

National Student Loan Data System (NSLDS)

Although NSLDS is still available for students, currently FSA is moving toward a consolidation of all websites to a “one-stop shop” at studentaid.gov. Students will be able to get student aid information collected from NSLDS by logging into studentaid.gov using their FSA credentials. See FSA Partners for more information.

Loan Servicer

A loan servicer is a company that handles the billing and other services on your federal student loans. Your loan is assigned to a loan servicer by the U.S. Department of Education. The loan servicer will provide regular updates on the status of your Direct Loan, work with you on repayment plans and/or loan consolidation, and will assist you with other tasks related to your federal student loans. It’s important to maintain contact with your loan servicer. If your circumstances change at any time during your repayment period, your loan servicer will be able to help. For more information about loan servicers, visit the Federal Student Aid site. 

The Direct Graduate PLUS Loan is an unsubsidized loan for students enrolled in a graduate degree or eligible certificate program. Graduate PLUS Loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. The FAFSA is required to be eligible for a Graduate PLUS Loan. The lender is the U.S. Department of Education, and you can learn more about this loan, the current interest rate and loan fees through the Federal Direct PLUS Loan Program.

Approval for the Graduate PLUS Loan is based on your credit check for adverse credit history and being enrolled at least half time in a graduate degree program. You can complete a PLUS application on studentaid.gov.  

If you’re denied for a Graduate PLUS loan, then you may:

• Appeal by documenting to the U.S. Department of Education that there are extenuating circumstances related to your adverse credit history.
• Obtain an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay it.
• Take no action on the PLUS application.

There are a number of advantages in considering the Graduate PLUS loan over a private educational loan. As a responsible borrower, you should decide which loan option best suits your needs. There is no obligation to accept this loan if approved.

Repayment

Repayment typically begins 30 days after full disbursement of the loan and the student will have 10 years to repay the loan. The standard repayment term is 10 years and the interest rate may vary depending on the disbursement date.

Visit studentaid.gov to learn more about PLUS repayment plans, deferment, discretionary forbearance and mandatory forbearance options.

Responsible Borrowing

You should always borrow what is needed to assist with the cost of education and not just the amount eligible to be borrowed. If the amount being offered is more than needed to cover the cost of the current year’s tuition and expenses, then make sure to reduce or cancel the loan amount(s) not needed. This will reduce the overall student debt when entering repayment. To revise a loan offer, follow the steps listed on the financial aid offer.

Graduate PLUS Borrower Requirements

First-time Direct Loan Graduate PLUS borrowers must complete the following requirements before a loan disbursement will be applied to his/her account:

• Complete entrance counseling online, which provides information about the Direct PLUS Loan program, how the application process works, how to manage education expenses, and understanding the rights and responsibilities as a borrower. If you have not previously received a PLUS loan under the Direct Loan Program or the FFEL Program, then entrance counseling will be required even if you previously completed it for a subsidized or unsubsidized loan.
• Complete the PLUS Master Promissory Note (MPN), which is a legal document in which the student promises to repay the amount borrowed and any accrued interest to the U.S. Department of Education. It also explains the terms and conditions of the loan(s). SNHU uses the multi-year MPN, which means you can borrow additional Direct PLUS Loans on a single MPN for up to 10 years, except for students who obtain an endorser. Students who obtain an endorser when borrowing a Direct PLUS Loan must complete a new MPN for each loan attached to an endorser.

Borrower Rights and Responsibilities

As a direct loan borrower, you have the right to:

• Receive a copy of a promissory note before or after the loan is made.
• Receive a disclosure statement – including information about interest rates, fees, loan balance, and the size and number of payments – before repayment of the loan begins.
• Benefit from a grace period or deferred payment on certain loans after leaving school or dropping below half-time enrollment, before payments begin.
• Prepay all or part of the loan without a prepayment penalty.
• Choose from several repayment options and have the option to periodically change the repayment plan if necessary to obtain an affordable loan payment.
• Receive written notice if the loan is sold to another lender.
• Apply for a deferment (if eligible) of the loan payments for certain specified periods.
• Request forbearance from the lender/servicer if unable to make payments and don't qualify for a deferment.
• Receive proof when the loan is paid in full.

As a direct loan borrower, you’re responsible for:

• Repaying the loan, including accrued interest and fees, regardless of the completion of the degree or certificate, completion of the program of study, employment status or satisfaction with the education.
• Completing exit counseling when you leave school or drop below half-time enrollment.
• Notifying the lender/servicer within 10 days if there is a change to your name, address or phone number; drop below half-time enrollment status; withdraw from school or transfer; or change the graduation date.
• Directing all correspondence to the lender/servicer (which could change during the life of the loan).
• Making monthly payments on the loan after leaving school unless you’re in the grace period or have been granted a forbearance or deferment.
• Informing the lender/servicer of anything that might change the eligibility for an existing deferment.

Annual Borrowing Limits

A graduate student can only take out an amount that is equal to or less than your Cost of Attendance (COA). The student's COA is calculated by taking into account tuition and fees, living expenses, books and supplies, and miscellaneous fees.

Direct Graduate PLUS Loan Instructions

Step 1: Apply for a Graduate PLUS Loan: 

• Go to studentaid.gov
• Click the Learn More button next to I am a Graduate or Professional Student. 
• Log in using your FSA ID. 
• Follow the instructions to complete a Graduate PLUS Loan application.  

If you are a first-time borrower: 

Step 2: Complete a Graduate PLUS Master Promissory Note (MPN): 

• Go to studentaid.gov
• Click the Log in to Start button next to I’m a Graduate/Professional Student.
• Log in using your FSA ID. 
• Follow the instructions to complete a Graduate PLUS Loan MPN.

If a student successfully appeals or obtains an endorser, the student borrower is required to additionally complete online credit counseling for PLUS Loan borrowers. The PLUS Credit Counseling will help students understand the obligations associated with borrowing a PLUS loan and assist in making careful decisions about taking on student loan debt.

Complete PLUS Credit Counseling Only for an Appeal or Endorsed PLUS Loan:

• Go to studentaid.gov
• Click the Log in to Start button under Complete PLUS Credit Counseling.
• Log in using your FSA ID. 
• Follow the instructions to complete PLUS Credit Counseling.  

If you do not remember your FSA ID, you can access it online at https://studentaid.gov/help/forgot-fsa-id.

Exit Loan Counseling Requirements

Similar to entrance loan counseling, exit loan counseling is a federal requirement of all students who received subsidized, unsubsidized or PLUS loans under the Direct Loan Program or the Federal Family Education Loan (FFEL) Program. You must complete this requirement once you graduate, leave school or drop below half-time enrollment. As part of the exit loan requirements, you'll be reminded of your obligations to repay, along with other information on deferment, forbearance and avoiding default.

National Student Loan Data System (NSLDS)

Although NSLDS is still available for students, currently FSA is moving toward a consolidation of all websites to a “one-stop shop” at studentaid.gov. Students will be able to get student aid information collected from NSLDS by logging into studentaid.gov using their FSA credentials. See FSA Partners for more information.

Loan Servicer

A loan servicer is a company that handles the billing and other services on your federal student loans. Your loan is assigned to a loan servicer by the U.S. Department of Education. The loan servicer will provide regular updates on the status of your Direct Loan, work with you on repayment plans and/or loan consolidation, and will assist you with other tasks related to your federal student loans. It’s important to maintain contact with your loan servicer. If your circumstances change at any time during your repayment period, your loan servicer will be able to help. For more information about loan servicers, visit the Federal Student Aid site.

Private education loans are available through an outside lender to help finance the unmet cost of attendance at Southern New Hampshire University. We recommend that you apply for financial aid first by completing the FAFSA (Free Application for Federal Student Aid) before exploring private loans to ensure receipt of maximum federal, state, and university aid.

Approval and interest rates are based on the credit worthiness of the student borrower, coborrower, or cosigner and vary from lender to lender. Certification of the loan depends on multiple factors*. You should exhaust all federal, state, and university options including the Federal Parent PLUS Loan and Federal Graduate PLUS Loan before borrowing a private loan.

It is highly recommended that you apply for an entire year's worth of funding at one time thereby eliminating additional credit checks and processing time.

Questions to ask when exploring a private loan lender:

• What is my FICO score and/or the FICO of my co-signer?
• Are there loan fees or repayment fees?
• What is the interest rate range? Is the rate fixed or variable? If variable, how high can the rate go?
• When does repayment begin? Are in-school payments required? What will the monthly payment be? What will the total cost of the loan be?
• How do they evaluate the co-signer (credit score, history, debt-to-income ratio)? Can they be released after a certain number of payments?
• Are there interest rate reductions for automatic withdrawal payments or having an existing account? Are there deferment or forbearance options available?
• Is the loan forgivable in the case of death or disability?

Below is a historical list of private loan lenders who have provided private educational loans to Southern New Hampshire University students during the past three completed financial aid years (21/22, 22/23 & 23/24) and continue to participate in the private education loan program as of July 1, 2024. This list is provided in alphabetical order and inclusion on this list is not an endorsement or recommendation by Southern New Hampshire University. Each lender's loan programs may have different requirements, so be sure to review with your lender regarding their loan programs that you qualify for to best suit your need.

This is not an exhaustive list of private loan lenders and SNHU does not guarantee the student’s satisfaction with the services and products provided by these or any other lenders. You have the right to select a lender of your choice regardless of this historical list.

*Be advised that some of the private loan lenders identified below may be limited to residents of certain states, specific to undergraduate and/or graduate status, programs & majors, may require SAP satisfaction, will not cover past due balances, and/or required membership. Students are encouraged to check and review with an individual lender for details.

AAA

Affinity Plus Credit Union

Alaska Commission on Postsecondary Education

Apple Federal Credit Union

Ascent

Aspire Student Loans

Bangor Savings Bank

Bank of North Dakota

Baxter Credit Union

CEFCU Citizens Equity First Credit Union

Central One Federal Credit Union

CHESLA Connecticut Higher Education Supplemental Loan Authority

Citizens

Clearview Federal Credit Union

College Ave Student Loans

College Foundation of North Carolina

Connex Credit Union

Custom Choice

Digital Federal Credit Union

Earnest

Edly Inc

Empower Federal Credit Union

FAME Finance Authority of Maine

Founder’s Federal Credit Union

FUNDING U

Georgia's Own Credit Union

Granite Edvance

Hidden River Credit Union

Higher Education Servicing Corporation

Hudson Valley Credit Union

Interra Credit Union

ISL Education Lending

Jeanne D'Arc Credit Union

KHESLC Kentucky Higher Education Student Loan Corporation

Landmark Credit Union

LendKey

M & T Bank

Manheim Central Student Loan Fund Association

MEFA Massachusetts Educational Financing Authority

Members 1st Federal Credit Union

Merrimack Valley Federal Credit Union

MIT Federal Credit Union

MN Self Minnesota Office of Higher Education

Municipal Credit Union

Nelnet Bank

New Hampshire Education Assistance Foundation

Newington Student Assistance Fund

NJ CLASS – Higher Education Student Assistance Authority

North Country Federal Credit Union

Ontario Shores Federal Credit Union

Pacific Cascade Federal Credit Union

PHEAA Pennsylvania Higher Education Assistance Agency

PNC Bank

Regions

RISLA Rhode Island Student Loan Authority

Rivermark Community Credit Union

Sallie Mae

Saratoga's Community Federal Credit Union

SECU Credit Union

Service Credit Union

SoFi Lending

SouthEast Bank

South Carolina Student Loan

St. Jean's Credit Union

Stride Funding Inc.

Summit Credit Union

Summit Federal Credit Union

Suncoast Credit Union

T & I Credit Union

TDECU Texas Dow Employees Credit Union

Thrivent Credit Union

Tuscon Federal Credit Union

United Federal Credit Union

Valley 1st Community Federal Credit Union

Visions Federal Credit Union

VSAC Vermont Student Assistance Corporation

Wings Financial Credit Union

Workers Credit Union

Wright-Patt Credit Union

Entrance Loan Counseling

If you’re a first-time borrower of Direct Loans, it is a requirement that you complete entrance loan counseling before any Direct Loans can be disbursed.

Loan counseling is designed to educate you, the student loan borrower, of your rights and responsibilities for Direct Student Loans.

Exit Loan Counseling

As a condition of borrowing Direct Student Loans, borrowers are required to complete exit counseling when they leave the university for any amount of time (including taking a term off), graduate (including moving from one degree program to the next) or drop below half-time enrollment. Through exit counseling, a student borrower:

• Reviews their borrowing history and loan servicer
• Receives forecasted monthly payments under a variety of repayment plans 
• Identifies strategies to successfully manage repayment

As a Direct Student Loan borrower, SNHU is required to remind you of your responsibility to complete exit counseling. Complete this counseling requirement online by signing into your studentaid.gov student borrower account.