How Do I Understand My Financial Aid Award?
How do I understand my financial aid award? What are the different types of financial aid?
Here at UNH, we know that figuring out how you will pay for college is an essential part of the college application and decision process. Welcome back to our Financial Aid Talk blog series, where we answer all your questions about financial aid, spotlighting topics from scholarships and loans to how to earn money as a college student. Today, we're talking about how to decipher your financial aid award. Read on for answers to questions you may have about how your aid amount is determined and what the different types of aid in your offer mean for you and your future.
UNH students hanging out outdoors on campus
What costs are included in the price of college?
Paying for college includes being responsible for direct costs, including tuition & fees, food & housing and books & school supplies. You'll also be responsible for indirect costs, which can vary based on your lifestyle. Indirect costs include personal expenses for necessities and fun activities and transportation costs.
UNH students walking on campus
What types of aid can I receive?
Financial aid options can include scholarships, grants and work-study.
Scholarships
From merit awards to unique opportunities, our scholarships help put a UNH education within reach. UNH awards $200 million in scholarships and aid annually.
Grants
Unlike loans, grants never need to be paid back. UNH offers multiple grant programs to help make your education more affordable and accessible.
Work-Study
Work-study enables you to earn money while you learn through federal-funded positions on and off campus. This program also lets you gain valuable experience while earning money you never have to repay.
UNH students studying in the Hamel Honors and Scholars College
What are loans?
Federal student loans help make education possible for most UNH applicants. Though these loans require repayment, they're an investment in your future.
What is the difference between subsidized and unsubsidized loans?
Subsidized loans are based on financial need and the federal government pays the interest that accrues while you're in school. On the other hand, unsubsidized loans are not based on financial need and the interest accrues while you're in school.
UNH students studying and reading outdoors on campus
How do I compare college costs?
As you start receiving financial aid packages, you'll notice that your financial aid eligibility varies from school to school. Make sure to compare your aid awards carefully. Sometimes, what appears to be the biggest aid package isn't the best. Reviewing your college cost options is easy with this equation:
Cost of Attendance - Total Grants & Scholarships = Total Price
Total Price - Loans* = Total Cost
*Keep in mind that loans ultimately need to be repaid.
How is financial aid eligibility determined?
Aid eligibility is determined based on your Student Aid Index (SAI), your year in school, your enrollment status and your cost of attendance.
What if I have more questions about financial aid?
We're here to help you! Reach out to our financial aid office to set up an appointment to get your questions answered.
related posts:
UNH Scholarships
What scholarships does UNH offer? Are scholarships hard to get? When it comes to college, you want to make sure you are getting the best value. That’s why it’s important to apply to schools that offer a diverse array of scholarships and make it simple to apply. read the guide
