How to Pay for College

College Can Be More Affordable Than You Think

As a nonprofit university, your success is our only mission. That means keeping your costs low and giving you the information you need to make smart financial decisions. Whether you want to get your degree online or on campus, we’ll make it easy to understand how to reduce your tuition cost, and your payment options.

Here are three steps you can follow:

Step 1: Choose an Affordable School, Like SNHU

A good place to start when choosing an affordable school is to look at the “cost per credit.” You’ll simply take that cost, and multiply it by the number of credits you need for your degree to get a sense of your overall cost. Most bachelor’s degrees are about 120 credits.

For example: SNHU’s online tuition cost is $330/credit—which is among the lowest tuition rates in the nation. 120 credits, multiplied by $330 per credit = a total tuition cost of $39,600 for a bachelor’s degree online. But remember: your actual cost may be a lot less. There are lots of ways to reduce that price.

Step 2: Lower Your Actual Cost

Once you’ve selected an affordable school, you can start thinking about other ways to cut down on tuition costs. Depending on past college coursework and work or military experience, you can save time and money. Here are just a few ways our students have earned their degrees faster and for less:

Transfer your existing college credits, if you have any.

If you already have some college credits, or an associate degree, you may be able to transfer those credits to drastically reduce the cost of your tuition—and earn your degree faster.

At SNHU, we’ll accept up to 90 credits toward your bachelor’s degree (and 12 toward a master’s degree). Since almost all of our bachelor’s degrees require 120 credits, that equals up to 75% off the cost of tuition—and as little as 25% left to pay for.

Ask about employer tuition assistance.

Many employers will assist with the cost of your degree in the form of tuition assistance, tuition discounts, or tuition reimbursement—and some might fund it completely, depending on how your tuition benefits work. Ask your employer if this is something offered and how you might be able to reduce the overall cost of your degree.

SNHU has partnerships with hundreds of employers across the country. Find your employer to see if you can take advantage of tuition benefits.

Take advantage of military discounts.

Apply for Grants and Scholarships

Unlike student loans, scholarships and grants typically don’t need to be paid back. Whether you plan on attending online or on campus, many students take advantage of scholarships and grants – in addition to those made available through federal financial aid – to help reduce the cost of their education. 

Plus, SNHU makes a scholarship matching tool available to students. After filling out a short survey, Scholarship Universe shows you a customized list of scholarships that you’re well positioned to qualify for. 

Step 3. Create a Funding Plan

After you’ve explored all the ways to reduce the overall cost of your degree, it’s time to think about how to pay for your remaining tuition. We recommend a combination of scholarships and grants (money that typically doesn’t need to be paid back), your own out-of-pocket contributions, and, if needed, federal student loans (money that does need to be paid back, often with interest.)

Our Student Financial Services team is ready to help. Get in touch to create a financial plan that fits your budget and your goals, or learn more about the steps we’ll discuss to fund your education.

Apply for Federal Financial Aid

SNHU's School Code is 002580

Learn everything you need to know about applying for financial aid.

Take advantage of Federal and local scholarships and grants

Southern New Hampshire University offers several types of need and non-need based grants and scholarships to help online and campus students meet the cost of a university education. To be eligible for federal grants and to demonstrate need, you are required to complete the free application for Federal Student Aid (FAFSA). Remember, grants and scholarships don't need to be repaid.

Try to pay for some or all your remaining tuition out of pocket.

One of the reasons it’s important to choose an affordable school—and take advantage of all the ways to reduce your tuition cost—is that it opens up the possibility for you to pay for some or all your remaining tuition out of pocket. This will reduce the amount of student loans you need to take out and repay later with interest.

Need help creating a plan? Our Student Financial Services team can help with financial literacy, help you gain a better understanding of your financial needs, and help talk you though how to reach your goals in a financially responsible way.

Federal Student Loans, and Other Loans

There are a number of educational loan programs that are available to consider. Programs like the Parent PLUS Loan allow parents of undergraduate and graduate students to borrow funds for their education. Some colleges participate in the Federal Direct Loan program, which offers fixed-rate loans for students attending college at least half-time. There are also private loans through outside lenders to consider in helping you to finance any unmet costs. You should keep in mind that you will need to pay back these loans after graduation, or in some cases, while you’re still in school.

Learn more about student loans.

Our Student Financial Services team is available to answer your questions, connect you to resources and help you with tuition funding options.