Financial Aid The current interest rate, established by the federal government, varies but will not exceed 8.25 percent. No repayment of interest or principal is required on either subsidized or unsubsidized Stafford loans until six months after the student graduates or withdraws from the university. Additional terms and limitations are printed on the Master Promissory Note. For more information on Stafford Loans please visit www.snhu.edu/1212.asp.
Federal PLUS Loans Parent Loans for Undergraduate Students (PLUS) is a program designed to provide assistance to parents who wish to borrow money to help pay for their dependent child’s education. The maximum loan amount is equal to the total cost of attendance minus the amount of ﬁnancial assistance received by the student. Repayment of principal and interest begins immediately with minimum monthly payments of $50 plus interest. Repayment may be spread over 10 years. The university Ofﬁce of Financial Aid determines eligibility based upon federal need analysis procedures; the lender determines credit worthiness. A Free Application for Federal Student Aid (FAFSA) must be on ﬁle to receive a PLUS Loan.
Alternative Loans for Parents and Students There are several alternative loan programs available for parents and students. These programs should be explored only after Stafford and PLUS loan eligibility has been exhausted. Please view information on the alternative loans at www.snhu.edu/1212.asp.
Federal Work Study Program (FWSP) The Federal Work Study Program is an employment program funded by the federal government and the university. It allows students with ﬁnancial need to work on- or off campus and receive an hourly wage. The 2009-2010 minimum rate is $7.25 per hour. The Ofﬁce of Financial Aid sponsors an employment fair prior to the start of fall classes to assist students in locating employment; however, neither employment nor earnings are guaranteed. Typical jobs are found in the library, cafeteria, department ofﬁces, gymnasium and in maintenance. Community service positions are available off campus at several local nonproﬁt organizations. Please review the Ofﬁce of Financial Aid Web site for up-to-date employment opportunities.
Southern New Hampshire University Student Part-time Payroll In addition to the university Work Study Program, Southern New Hampshire University maintains a student part-time payroll. Pay periods, pay rates and job duties are the same as with the Work Study Program; however, there is no total earnings ceiling per academic year.
Off-campus Employment Manchester is New Hampshire’s Queen City and the population center of the state. Part-time, non-work-study employ-
ment opportunities also exist in the local area and, although not part of the university’s aid program, earnings from such sources can contribute signiﬁcantly toward meeting university costs. The university’s Career Development Center coordinates information concerning these opportunities and acts as a liaison with local employers.
International Students and Financial Aid Financial Aid is not available to International Students. International Students may work on campus up to 20 hours per week with potential earnings of up to $5,000 per year. Some private student loans are available to international students provided they can obtain a co-signer living permanently in the United States. Details are available in the International Ofﬁce of Admission.
Computer Purchase Policy The Ofﬁce of Financial Aid at Southern New Hampshire University (SNHU) does not offer grant aid for the purchase of a computer, however students and parents may borrow additional loan funding, up to $1,500, to cover this expense. If a family would like to borrow additional loan funding to cover this required expense, they should contact the Ofﬁce of Financial Aid.
Veterans’ Beneﬁts Southern New Hampshire University is approved for the education of veterans and the children of veterans. Questions regarding beneﬁts for veterans should be directed to the Ofﬁce of the Registrar. Each new veteran should submit: a. an application for admission. b. a registration form for the next term. c. an ofﬁcial high school transcript or an ofﬁcial copy of GED test scores. d. ofﬁcial university transcripts, if any. e. a copy of DD-214 and any service school data. f. the necessary Veterans Association paperwork. Veterans enrolling under the G.I. Bill for the ﬁrst time may experience a delay of up to two months before they receive their ﬁrst checks. Veterans should contact the Veterans Affairs Ofﬁce if no check has been received by the seventh week of a term. If a veteran student is transferring directly from another school where he or she had been using VA beneﬁts, the student should ensure that the other school promptly notiﬁes the VA of his or her effective date of termination. Students must notify the registrar of any past university credits that are transferable to Southern New Hampshire University. If, after two terms, the veteran does not supply the required ofﬁcial transcripts of past studies, he or she will be certiﬁed only for the cost of courses. In the School of Professional and Continuing Education, two courses per eight-week term con19
Published on Oct 19, 2009