NerdWallet’s guide to financial aid programs in New Hampshire

Dartmouth College and the University of New Hampshire, both Ivy League schools, are two of many excellent universities and colleges in New Hampshire.

College can be costly in New Hampshire due to the high cost of living. There are a number of programs in New Hampshire that help make college more affordable, such as scholarships and tuition waives.

New Hampshire has more than 20 public and private colleges that offer two- and four-year degree programs.

College costs in New Hampshire are often higher than the average. Some private schools have cut their tuition to increase enrollment. As an example:

• 
  Colby-Sawyer College has lowered its tuition rates for the academic year 2023-24. The cost was reduced from $46,364 down to $17.500, which is a reduction of 62%.
  

• 
  Southern New Hampshire University has recently cut the tuition fee in half. Students can now attend for only $15,450 a year.
  

New Hampshire’s private schools are cheaper than national averages. It may even be more affordable to go to a private college than one of the public universities in New Hampshire.

This is an estimate of how much it will cost you to go to college in California, in general, for the academic year 2020-21.

• Public 4-year schools: $29,222 annually, or 37% more than the average national salary of $11,337.

• Private 4-year schools: $29,103 annually, or 46% less than national average $46,313.

• The average cost of community college in-state is $7,123, which is more than twice the national average ($3,501). These numbers do not include the cost of room and board.

In order to qualify for state-funded financial assistance and in-state tuition for public schools, you need to have lived in New Hampshire at least for 12 months in a row immediately before registering for a term.

House Bill 1383 was passed by New Hampshire lawmakers in 2012. The bill mandates that every New Hampshire university student who receives in-state tuition sign an affidavit verifying their legal residency status.

Undocumented students, including those who are part of the Deferred Action for Childhood Arrivals program (DACA), cannot pay in-state rates and instead must pay out-of state tuition. They are not eligible for any state aid.

New Hampshire has a limited number of state-run financial aid programs. However, they are not as numerous as other states. Due to the budget cuts, which caused some of New Hampshire’s financial aid programs to be discontinued, grants are no longer offered.

You may be eligible for one of these financial aid programs in order to lower your educational costs.

• 
  529 plans.
  

• 
  Scholarships.
  

• 
  Waiver of tuition.
  

• 
  Assistance with student loan repayment
  

Savings plans for 529 college savings accounts are a great way to help families with their child’s education. New Hampshire does not offer prepaid college tuition plans, unlike some other states. However, it offers two options for 529 college saving plans:

• Fidelity Advisor Plan 529: This plan is available only to financial advisors who are not affiliated with Fidelity. A parent or grandparent cannot open this account on their own. They must instead work with a professional financial advisor.

• UNIQUE Plan for College Investing: This plan is open to U.S. citizens.

The contribution limits are higher than in other states.

You can create a 529 account for a child, and then invest your contributions into a variety of funds in order to increase the value of your savings. If you withdraw the funds to pay for education costs, they are not taxed.

Six schools make up the University System of New Hampshire: Plymouth State University (Plymouth), Keene State College, Granite State College, and the University of New Hampshire in Manchester. New Hampshire residents pay lower tuition at any of these colleges than students from out-of state.

New Hampshire residents, or those who are not New Hampshire residents but want to attend a New Hampshire University and want to study at a college outside the state can qualify for the Tuition Break Program of the New England Board of Higher Education. The network is composed of six states, including Connecticut, Maine Massachusetts, New Hampshire Rhode Island, and Vermont.

Students who reside in a state that participates can receive reduced tuition rates at schools eligible for the program. The NEBHE tuition break program offers an average savings of $8,600 per year for each student.

New Hampshire has a limited number of scholarship programs based on performance in school and academic achievements. Finding these scholarship opportunities can be difficult. Instead of having a central department or resource that handles scholarships, different state agencies and organisations award them.

There are four awards based on state:

• 
  License or certificate
  

• 
  Two-year degree.
  

• 
  Four-year degree.
  

• 
  Advanced Degree
  

A single application can cover all four categories. Students are matched automatically with the award that best suits their needs. The award amounts range from $250 up to $5,000. The Free Application for Federal Student Aid, transcripts, and a thank-you letter to the donors are required.

The NHHEAF Network scholarship is available to New Hampshire residents with a GPA of at least 2.5 and financial need. Students who have returned to college in their second or subsequent year are eligible. First-year students do not qualify.

The award amounts can range between $2,500 and $5,000. Students must submit an application form and an essay to be considered for the award.

New Hampshire Scholars prepares high-school students to succeed after graduation. The program does not offer scholarships. However, program graduates are eligible to apply for more than 12 colleges in New Hampshire that do. The award amounts vary from $1,000 up to $32,000. However, the requirements and awards differ by college.

In order to graduate as New Hampshire Scholars, students are required to complete an academic core that meets program standards. They also have the choice of following academic or career paths related their career goals.

The Higher Education Scholarships For Orphans of Veterans program provides $2,500 in scholarships for orphans of New Hampshire military servicemen who have died on active duty, or from service-related disabilities. These scholarships can be used by students at New Hampshire public schools for a part of the cost of room and board or books. Students who qualify may be eligible for free tuition in select community colleges.

New Hampshire residents who qualify may not have to cover the full cost of tuition. The state has only one tuition waiver program.

You may be eligible for a waiver of tuition at schools that participate, such as the University of New Hampshire. Keene State College. Plymouth State University. Granite State College.

Private loans may be available to cover any remaining debt for students who have reached the maximum annual or cumulative limits of federal student loan programs. New Hampshire offers its own student loan program.

EdvestinU, a private loan program for students offered by New Hampshire Higher Education Loan Corporation. EdvestinU offers undergraduate and graduate student loans nationwide, as well as refinancing of existing student loans. However, it also provides significant reductions in annual percentage rates to New Hampshire residents. New Hampshire residents also have expanded underwriting criteria, which means they are more likely than other applicants to be approved for a student loan.

The Federal Student Aid Office estimates that the average New Hampshire student loan debt per borrower will be $33,120 by 2022. Two loan repayment programs are offered by the state to help its residents repay their debts, but only for health professionals.

The New Hampshire SLRP allows eligible health professionals to receive up $75,000 for completing a three-year minimum commitment of full-time work at an approved site within a designated shortage area.

Participants can receive $40,000 more if they work for an extra two years in an eligible location.

Private Practice Dentists SLRP (Secure Locations for Registered Providers) is a program designed specifically for private dentists located in Medicaid priority areas. You must have Medicaid as your primary payer and Medicaid patients should make up 15% or more of the total number of dental clients in order to qualify. You can get up to $75,000. If you sign a contract to provide services for at least three years.

Follow these steps to qualify for New Hampshire financial aid:

1. FAFSA submission: Since most of the scholarships offered by the state are based in part on your financial situation, you will need to submit the FAFSA. Fill out and submit the FAFSA online by visiting FAFSA.gov.

2. Examine the application requirements. Some New Hampshire financial aid programs may require you to submit a separate application, or even write an essay. You should review the requirements for each award so that you are aware of what is required to be eligible.

3. Check the website of each award program for details. The financial aid office at your school may be able help.