Financial Aid Award Guide
The Award Guide is a tool to assist you in understanding your financial aid award. Throughout this website you will find information and instructions on:
- Your rights and responsibilities as a financial aid recipient
- How to accept or reject the financial aid being offered
- Under what conditions your financial aid could change; what you need to do in order to keep receiving financial aid in future years
If you have questions, please consult the Financial Aid FAQs.
Your financial aid award is determined on the basis of the information you, your spouse, and/or parents provided on the Free Application for Federal Student Aid (FAFSA). We rely on the accuracy of this information in determining your eligibility and in making this aid offer. Your original award is subject to change at any point during the academic year for any of the following reasons:
- Updated information from the U.S. Department of Education
- Information supplied through the appeal or verification process
- A change to your program of study
- Changes in enrollment status (i.e., full-time to part-time, withdrawing or dropping classes).
- Receipt of additional assistance (within or from outside the university)
- Housing changes
- Satisfactory academic progress deficiencies.
In the event that an award must be modified, you will receive a revised award letter.
A financial aid award consists of gift aid (such as scholarships and grants which do not have to be repaid) and self-help aid (such as student loans and work study which must be borrowed or earned). While financial aid is meant to assist students in making college more affordable, students may not receive financial aid in excess of their cost of attendance.
Direct costs are billed directly to the student such as tuition and fees, room, and meals. Indirect expenses are costs students will also likely incur. This may include the costs of books, transportation, and other miscellaneous items. To estimate the required payment to the university, subtract the aid offered (minus work-study) from the direct costs figure. The difference will be reflected on your first bill.
The estimated costs for the 2008-2009 academic year are listed below:
| Living On Campus: | |
| Direct Cost | $34,554 |
| Indirect Cost | $ 2,450 |
| Total | $37,004 |
| Living with Parents: | |
| Direct Cost | $24,954 |
| Indirect Cost | $ 4,500 |
| Total | $29,454 |
Need help managing the balance? Contact the Office of Financial Aid for information about federal Parent PLUS loans and alternative loan programs. For information about Tuition Management Services payment options please contact the Student Administrative Services Office at 603.668.2211 Ext. 2095 or e-mail sas@snhu.edu.
You can get information regarding grants, scholarships and loans from the Office of Financial Aid.
If you accept the Stafford loan offered to you; you will be required to sign a Master Promissory Note (MPN). The MPN is signed once for all years the student borrows at SNHU. Unlike other loan applications, the MPN does not indicate a loan amount on it. The maximum loan amount for which you are eligible will be indicated on the award letter.
Choosing a lender is a very important personal decision and by law, staff members in the Office of Financial Aid cannot make this important personal decision for any student or family. SNHU is happy to certify an educational loan from any provider. Details for loan options may be obtained by viewing our Educational Loan information.
All first time borrowers at SNHU are required to complete Entrance Loan Counseling (ELC) which is designed to educate loan borrowers of their rights and responsibilities. Information and instructions on completing both the ELC and MPN will be available, via your SNHU email address, in June. The ELC and MPN must be completed before loan funds can be disbursed, per federal regulations.
The Student Administrative Services Office bills all students. Bills for fall 2008 will be due on August 12 and January 2 for spring 2009. Refunds typically are available at the end of September for fall and the end of February for spring. All billing and refund inquiries should be directed to the Student Administrative Services Office at 603.668.2211 Ext. 2095 or e-mail sas@snhu.edu.
A student’s file may be selected by the U.S. Department of Education for a process called verification. Students selected for verification will be asked to provide additional documents (such as a signed copy of your federal income tax return) to the Office of Financial Aid. These documents will be used to either confirm or correct information submitted by the student and/or parent on the FAFSA. Since a student’s financial aid eligibility is based on information provided on the FAFSA, any changes in the data may affect a student’s financial aid award. For this reason, awards will not be finalized until verification has been confirmed.
Financial aid recipients at SNHU who withdraw prior to the completion of 60% of the current term are subject to a Return of Title IV Funds recalculation, which can impact the amount of financial aid a student is able to retain. Financial Aid recipients are subject to both the university’s withdrawal policy as well as the Federal Return of Title IV Funds policy and procedures.
A student must meet both quantitative and qualitative standards in order to continue receiving federal financial aid. Please reference “Standards of Satisfactory Academic Progress for Financial Aid” in the Undergraduate Catalog or access the complete SAP Policy.