NH Incentive Program - New Hampshire Student Loans

NH Incentive Program

Purpose: Provide financial assistance to NH students attending eligible institutions in New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont).

Eligibility Criteria: Be a NH resident; demonstrate financial need as determined by the federal formula (EFC cutoff for 2008-09 is 2300); meet application deadline; be a part-time or full-time undergraduate student with no previous bachelor's degree, attend an eligible institution in New England.

Award: $125 to $1,000 per year

Deadline: The federal processor must receive Free Application for Federal Student Aid (FAFSA) by May 1st. at www.fafsa.ed.gov. Do NOT forward a copy to the Postsecondary Education Commission. The federal processor forwards FAFSA results directly to the Commission.

Contact: Cynthia Capodestria at 271-2555, Ext. 360.

Frequently Asked Questions:

Q: Where do I get an application?
A: The only application for the New Hampshire Incentive Program (NHIP) is the FAFSA. You may get a copy of the FAFSA by contacting the federal government at 1-800-4-FED-AID; or online at http://www.fafsa.ed.gov.
Q: What is “an eligible institution in New England”?
A: An eligible institution is either a NH institution which is eligible to award Pell Grants or a college or university in Connecticut, Maine, Massachusetts, Rhode Island or Vermont which is eligible to award a Pell Grant and is accredited by the regional accrediting agency, New England Association of Schools and Colleges (NEASC).
Q: What is “demonstrated financial need”?
A: When you submit the FAFSA, an expected family contribution (EFC) is computed based on a federally mandated formula. Your eligibility for a state grant award is based on this demonstrated financial need--your EFC. The EFC cutoff for 2008-09 is 2300.
Q: Why do I not receive my grant until after the start of the fall semester? I have to make my payment for the fall semester before the beginning of the semester and I need to know if I can afford to attend.
A: The school you attend must verify your enrollment as a full-time or greater than half-time student before we can make your award. This cannot happen until after the add/drop period (usually 2-3 weeks into the semester). Also the financial aid office may require additional documents from you before they can verify your eligibility for financial aid. Some institutions, if they know that you could be eligible for a NHIP award, will credit your bill based on the estimated award. The institution is not required to do this and you would not be eligible to receive any refund until the money is actually received by the institution.
Q: My parents won’t help me pay for my education. Why can’t you just use my income?
A: The federal government determines whether you need to submit both your parent(s)’s and your income information or only your income information based on the answers you have made on the FAFSA. However, your school does have the ability to use their judgment to override that federal mandate. If you feel that your need should not reflect your parent(s)’s income, contact your financial aid office.
Q: My parents won’t be filing their tax return until after May 1st, how can I submit the FAFSA in time for the NHIP deadline?
A: You should not delay completing your FAFSA until after your and/or your parents’ federal tax return has been filed if it means you will miss the institutional financial aid deadline or the deadline for NHIP. When you complete the FAFSA use estimated numbers when completing the income section(s).
Q: If I am not starting school until January (the spring semester), why do I have to have my FAFSA in before May 1st.
A: The FAFSA information is for the entire academic year, July 1st through June 30th and should be submitted as soon as possible in order for you to receive the maximum financial aid you might be eligible to receive.
Q: Do I have to be accepted to a school before I submit my FAFSA?
A: No. Your FAFSA should be submitted as soon after January 1st as possible, and at the latest, by the institutional financial aid deadline. Early submission will enable the institution to award your financial aid and enable you to compare the financial aid awards of the various schools you have been accepted at.