New Hampshire Student Loans for College
Must-Have Financial Aid Information
New Hampshire college-bound students and parents should start their college planning with the New Hampshire Higher Education Assistance Foundation (NHHEAF), the umbrella agency for Granite State Management and Resources and the New Hampshire Higher Education Lending Corporation.
This state-sanctioned agency is a triumvirate of student loan lending and college planning and, as a whole, has been making college a priority for state citizens for years.
The NHHEAF provides students and parents with all the information necessary to make college a reality:
- Planning tools and tips
- Saving for college
- Links to the New Hampshire colleges and universities
- How to apply for federal student loans
- Tax credits associated with student loans
- Applications and tips for loan applications
- Tips for saving money in college
- Information regarding private or alternative loans
- Online account management
- Federal loan management
- College blog
The NHHEAF also currently offers the LEAF Consolidation Loan, a private debt management product designed to consolidate any private loans you may have had in the past through their lenders. A service like this can be instrumental in helping to reverse a student’s financial crisis.
For further details on the products and services offered by NHHEAF, view the website.
Federal Student Loans Available in New Hampshire
The NHHEAF offers you direct access to the federal loan program, which should always be your first line of strategy when it comes time to apply for tuition money.
To be considered for federal aid you must complete the FAFSA, the Free Application for Federal Student Aid. This is the loan application that goes to the federal government. Some loans are based on financial need, while others are not.
Here are the types of federal loans:
- Stafford Loans are the single most popular federal loan disbursed. Available to both undergraduate and graduate students, these loans require no credit check and have flexible pay-back terms.
- The Parent PLUS Loan is exclusively for parents of undergrads. When your family finances are stressed out and you still have expenses to cover, this loan offers affordable assistance. Use the PLUS Loan after your child’s federal Stafford loans have been paid out. You could qualify to borrow up to the remaining balance of your college bills.
- PLUS Loan for Graduate and Professional Students is the most recent addition. If you’re a New Hampshire grad student AND you’ve reached the maximum lifetime borrowing limit on your Stafford Loans, then the Grad PLUS is the next best financial option.
- The Federal Consolidation Loan is special type of assistance that is no longer offered by all lenders, so shop accordingly. This post-graduate student loan is designed to take the pressure off your monthly bills during loan repayment. Consider this an option when you have multiple federal loans and even the hint of a problem meeting bill deadlines. The consolidation loan lengthens your repayment term, but it also lowers your monthly output significantly.
Find out more about the different federal loan programs.
NH Private Loans
Alternative or private student loans are difficult to find when the financial markets are turbulent. So stay abreast of lenders programs. But private loans should only be used as a final resort, once you’ve been awarded the maximum federal loan allowance and applied for any free money with state grants and scholarships.
The NHHEAF currently offers the LEAF Consolidation Loan, a private debt management product designed to consolidate any private loans you may have had in the past through their lenders.
For further details on the products and services offered by NHHEAF, visit the website.