| Financial Aid Loans defined |
| The college’s financial aid program assists students who are unable to meet their expenses entirely from their own family resources. Students must be enrolled in an eligible degree, diploma or certificate program in order to be considered for financial assistance, and must meet both qualitative and quantitative standards for satisfactory progress. These standards are described in the Financial Aid Handbook.
Completion of the Free Application for Federal Student Aid form (F.A.F.S.A.) is required for consideration for Pell Grants, Perkins Loans, Work Study, Supplemental Educational Opportunity Grants, Stafford Loans and the New Hampshire Incentive Program. The application is available in the college’s Financial Aid Office and at local high schools. |
Pell Grant
The Pell Grant is a federally-funded program which assists students with the cost of attending college. A Pell Grant does not have to be paid back. To receive a Pell Grant, the student must be an undergraduate who does not already have a bachelor’s degree. Awards are granted on a sliding scale ranging from $400 to $3,300 depending on the family financial position. |
Supplemental Educational Opportunity Grant (SEOG)
SEOG’s are made available to students who demonstrate exceptional financial need. A SEOG also does not have to be paid back. To receive a SEOG, a student must be an undergraduate who does not already have a bachelor’s degree. Awards at this college range from $100 to $600 per year. |
Perkins Loan
Perkins Loans are low-interest (five percent) loans made through the Financial Aid Office at the College. Students may borrow up to $1,500 per year, depending on the availability of federal funds. Repayment begins and interest accrues nine months after the date of graduation. |
Federal Work Study (FWS)
The FWS program gives the student an opportunity to earn money for educational expenses on a part-time work basis. Typically, students work as lab and library aides, typists, or custodial aides under the supervision of a faculty or staff member. Wages can vary for different jobs, but students will be paid at least the current federal minimum wage. |
Stafford Loans (Formerly GSL)
Stafford Loans are low-interest loans made to the student by a lender. Freshmen may borrow up to $2,625 per academic year; Seniors may borrow up to $3,500 per academic year. Repayment begins and interest accrues six months after the date of graduation. |
New Hampshire Tech Loans
NHTL’s are low-interest (five percent) loans made through the Financial Aid Office at the college. Students may borrow up to $1000, depending on the availability of State funds. Repayment begins and interest accrues six months after the date of graduation. Priority consideration is given to full-time students who demonstrate financial need. |
New Hampshire Incentive Program (NHIP)
NHIP provides grants for New Hampshire residents attending a college within or outside the state of New Hampshire. Applicants must be full-time students and must demonstrate financial need. There is an early application deadline date of May 1 each year. |
Federal Parent Loans for Undergraduate Students (PLUS)
Federal Loans for Undergraduate Students are meant to provide additional funds for educational expenses. These loans are made to parents of undergraduate, dependent students. Parents of dependent undergraduates may borrow up to a student’s cost of attendance less estimated financial assistance. The interest rate for these loans is variable and set annually not to exceed nine percent (9%). The College will have an application mailed to parents upon request. |
TREE Loan
A TREE Loan, The Resource for Education Expenses, is a private loan program funded by New Hampshire Higher Education Loan Corporation (NHHELCO). This loan can be used to supplement your financial aid award. TREE offers 24-hour turnaround time on applications, a competitive interest rate and a low upfront fee. Repayment is deferred until six months after you complete school. TREE loans and Stafford loans funded by NHHELCO will be combined on one monthly statement. |
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| Title IV Code |
| The Title IV Code for NHCTC/Manchester is 002-582; Title IV Code for NHCTC/Stratham is E00 837. Students should use both code numbers when completing the Free Application for Federal Student Aid form (F.A.F.S.A). |
