You Have Financial Aid Questions. We Have Answers.

You have just been accepted into all your top schools. The stress of applications is over, but now comes the question of which one is most fit for you. As you sort through all of the pros and cons of each school, a major question will most likely come up: “Which financial aid package is the best for me?”

Going into my freshman year, financial aid and loans were new concepts to me. Whenever I’ve had any question about the financial aid process, the University of New Hampshire’s financial aid office has always been quick to support me. Now that I am a student at UNH and an intern with undergraduate admissions, I talked with staff in the financial aid office about some of the frequently asked questions they get from admitted students.

Q: How do I determine how much I’ll actually pay at my top schools?

A: Firstly, ensure that you are considering every factor included in the cost of attendance at each school. A mistake that many families have made is merely looking at tuition and room and board costs. In reality, it is essential to investigate the additional fees at each university. Transportation, books, supplies and other miscellaneous costs can add up. After adding up tuition, room and board, and additional fees, subtract grants, scholarships, and loans, and there is your net cost.

Here’s some helpful advice from Vanessa Ross ’22, a student intern in the financial aid office. “Think of what the school is providing—review all of the services, the alumni network, etc., and how much value you are getting from it.”

This video provides a breakdown of some of the ways UNH defines value.

Q: What kinds of questions does the office get from admitted students about their financial aid packages?

A: The topic of work-study comes up often at the financial aid office. Work-study is need-based. Using the information provided in your FAFSA, UNH will determine if you are eligible for a work-study. The amount granted is typically $2500 or less. The funds can be used for spending, tuition, student organizations, etc.

Many parents call in wondering why the work-study grant was not sent toward their bill, unaware that work-study does not go towards it. The student must work on campus to activate and earn the funds.

Another question is, “can we get more scholarships and grants?” If you have received a financial aid package, it is the best possible award that UNH can provide based on your FAFSA and is unlikely to change. UNH Admissions looks at merit scholarships and does not hold back funds for negotiation.

Q: What are the pros and cons of loans?

A: Loans can be a tough, scary subject to deal with. The most beneficial aspect to loans is the ability to attend university. Depending on what you want to do, the return on investment may change. There are issues regarding student loan debt, so make sure to do your homework on loan companies and compare rates.

Q: What is some advice for admitted students planning for college costs?

• Communicate with your family and the financial aid office.
• Always use merit awards/scholarships first and only take out what you need.
• Check WebCat! A lot of the information you may be looking for is on there.
• Look at the full picture — prices tend to increase throughout the four years.
• Be honest with yourself — is this something you will be able to afford for all four years?
• Have a plan and be prepared!

My advice and favorite resources

• As a student who has completed the FAFSA, it can be tedious work, but I’ve found the IRS Data Retrieval Tool to be extremely useful since it can recover past tax information.
• Don’t hesitate to go for a work-study if you are granted one, as there are many positions available around campus. Some that I have come across include working at the dining halls, UNH mailrooms and the Memorial Union Building, interning at the ECenter, and so much more.
• Communication with your family and the financial aid office is essential to a smooth process of financing your studies.
• Be realistic, read your emails and know that someone is always there to help.
• This webpage is also a great resource for navigating your financial aid award.

The UNH financial aid office is open from 8 a.m. to 4:30 p.m. Monday through Friday, and staff are available to help answer questions regarding financial aid, including but not limited to filing your FAFSA, preparing for college costs, loans, and work-study positions. You can reach them by email at financial.aid@unh.edu or phone at (603) 862-3600.