When we receive your Free Application for Federal Student Aid (FAFSA) from the Department of Education, we evaluate your eligibility not only for federal aid programs but also for institutional need-based aid, such as the Need Based Grant.
The Department of Education does not award or deny funds; rather, they use a formula to calculate your expected family contribution (EFC) based on your self-reported family resources, family size and number of family members in college. This process ensures that all students are treated consistently and fairly. One Stop verifies your eligibility and creates an award offer based on factors such as federal and state regulations and institutional policy.
You should know that your EFC is not the amount of money your family will have to pay for college nor is it the amount of student aid you will receive. It’s simply a number determined by the Department of Education that we are required to use to calculate the amount you are eligible to receive in student aid.
After your financial need is calculated, we consider you for all types of financial aid for which you qualify. You will always be considered for grants first and loans last. This process is called "packaging".
View and understand your financial aid award
Your financial aid award letter will list all of the financial aid offered to you, which may consist of a combination of federal grants, federal loans, and if you’re an on-campus traditional student institutional scholarships and grants. Review the Financial Aid award Terms and Conditions to ensure you fully understand your rights and responsibilities as a recipient of financial aid at SNHU.
Decline or Reduce your offered Student Loans
After reviewing your financial aid award and estimating your bill, you may reduce or decline the offered student loans by submitting a signed statement to One Stop indicating the amount you wish to decline or reduce. Alternatively, you can print the Award Letter from mySNHU and cross off the undesired amount. Sign the letter and submit it to One Stop.
Requests to decline or reduce your loans can be sent to:
Southern New Hampshire University
2500 North River Road
Manchester, NH 03106
or Fax to 603-645-9667
Complete Federal Direct Student Loan Requirements
If you were offered federal loans as a part of your financial aid package, there are additional steps you must take to secure that funding.
- Sign into http://www.studentloans.gov/ using your Social Security Number, your date of birth, first two letters of your last name, and your FAFSA PIN.
- Complete Entrance Counseling (this link is on your homepage once you login).
- Complete the Master Promissory Note (this link is also on your homepage).
Use the Activating your Direct Loans Quick Guide as you complete these steps.
*If you do not remember your PIN, you can access it online at http://www.pin.ed.gov/
Changes in your Financial Situation
An additional review of your financial aid award may be available due to extenuating and rare circumstances such as unusual medical expenses or a significant loss of income. Review the 2014-2015 Financial Aid appeal form to see if your circumstance is warranted.
Disbursement of Federal Student Aid Funds
If you are admitted and registered for the appropriate number of credits and have completed all steps to accept the financial aid offered to you, within the first two weeks Federal Student Aid funds (grants and loans) are sent directly to SNHU and are applied to your tuition charges. If the financial aid applied to your account exceeds your tuition charges, you will receive a refund.
Priority for programs with limited funding (SNHU Need Based Grant) is given to students who have high financial need and who meet the March 15th priority filing date. If you file your application by March 15th we rank you with all other on-time filers according to your family contribution (lowest to highest) and award funds accordingly. If you file your application after March 15th we award from funds that remain after priority applicants are awarded.