3 - SNHU Academic Archive

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If your adjusted gross family income is
$25,000 or more and you wish to apply for
federal interest subsidy, you must submit to
the lender a recommendation from your
college, based on an analysis of your need.
In most cases, this recommendation is
prepared by the financial aid officer at your
college.
Students who are not eligible for
federal interest benefits may still apply for
guaranteed student loans; but will have to
pay their own interest over the entire life of
the loan.
An insurance premium of up to one
percent (1 %) each year of the loan may be
collected in advance under a State or private
guarantee agency program. Usually this
premium is collected, for your in-school and
grace periods of time, by the lender at the
time of loan disbursement.
Repayment of such loans normally
begin between 9 and 12 months after you
graduate or leave school, and you may be
allowed to take up to ten years to repay the
loan. The amount of your payments depends
upon the size of your debt and your ability to
pay; but in most cases you must pay at least
$360 per year unless the lender agrees to a
lesser amount. At the time your repayment
schedule is set, the lender will collect a 1 %
insurance premium, per year on the unpaid
balance, based on your schedule of
repayments.
You do not have to make repayments
for up to three years while you serve in the
Armed Forces, Peace Corps, or in full-time
volunteer programs conducted by ACTION.
In addition, deferments are available any
time you return to full-time study and for a
period of not more than one year for
students who are unable to find full-time
employment.
New Hampshire College urges all its
Scholarship and Assistance applicants to
seek aid from the Guaranteed Student Loan
Program operating in their home states.
NEW HAMPSHIRE INCENTIVE
PROGRAM-(NHIP)
The New Hampshire Incentive Program
(NHIP) is designed to provide increased,
equal access and choice for deserving,
needy New Hampshire residents seeking the
benefits of postsecondary education/training
within the State.
NHIP awards provide gift assistance
ranging from $100 to $1500 based on your
need, academic qualifications, the tuition
charges at the institution you select within
the State, and your willingness to help
yourself.
To be eligible incoming freshmen
students must have graduated in the upper
3/5th's of their high school graduating class
or have had a high school grade-pointaverage
of 2.40 on a 4.00 scale. If a non
graduate, you may qualify academically if
you have a G.E.D. Certificate and scored on
the average in the 50th percentile or higher
based on national averages. Upperclassmen
and renewal applicants are judged on the
basis of their postsecondary work.
Demonstrated need is determined on
the basis of your eligibility index which is a
product of your application for a Basic
Grant. You DO NOT NEED to be eligible for a
Basic Grant in order to qualify for a NHIP
Grant; but you must apply for a Basic Grant
The NHIP picks up where the Basic Grant
Program leaves off