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Student Loans Understanding Your Smart Borrowing Options

Funding Your Education with Student Loans

After you've taken all the steps you can to reduce the cost of your tuition — like transferring credits, applying for grants and scholarships, participating in work-study programs, or leveraging tuition assistance and military discounts — it still may not be possible for you to pay out of pocket for your remaining costs. If that’s the case, student loans can help you fund your education.

If you’re thinking about taking out one or more federal or private student loans, talk to Student Financial Services about smart borrowing practices and to get all the information you need to fund your education. Because you'll be responsible for paying back any student loans you take, even if you don't complete your degree, it's important to borrow responsibly and understand that you don't need to take out loans for the full amount for which you’re approved.

Federal Direct Loan Information

Southern New Hampshire University participates in the Federal Direct Loan program. Direct Loans are fixed-rate student loans for undergraduate and graduate students attending college at least half time. They're the most common type of financial aid to assist with paying for school. 

Direct loans are available to eligible students who file a valid Free Application for Federal Student Aid (FAFSA). Review your SNHU financial aid offer to understand your eligibility for direct loans. For more information on terms and interest rates, visit the Federal Student Aid website

Direct Subsidized Loan

Direct Subsidized Loans are fixed rate low-interest loans that are based on financial need.

Direct Unsubsidized Loan Information 

Direct Unsubsidized Loans are fixed low-interest loans that accrue interest once the aid is disbursed. 

Direct Parent PLUS Loan Information

The Parent PLUS Loan is a federal loan that allows parents of undergraduate students to borrow up to the cost of education, less any financial aid.

Direct Graduate PLUS Loan Information

Graduate and professional degree students are eligible to borrow under the PLUS Loan Program up to your cost of attendance minus other estimated financial assistance in the Direct Loan Program.

Private Loan Information

Private loans from an outside lender may be used to help finance all or part of the cost of attendance at SNHU. 

Loan Counseling

Students who borrow under a Federal Loan Program (Direct Loans and Grad PLUS) for the first time at the university are required to complete entrance loan counseling. If you’re leaving the university (withdrawal or graduation), you must complete exit loan counseling.