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Financial Aid 101��Presenter: Kristin Lavigne M.Ed/MS HEA�College Success Specialist

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This presentation is for informational and educational purposes only. The information in this document is believed to be materially accurate at the time of its initial presentation, however the information presented is subject to change without notice and should not be construed as a commitment by Granite Edvance. This document and parts thereof must not be reproduced or copied without Granite Edvance's written permission, and contents thereof must not be imparted to a third-party nor be used for any unauthorized purpose.

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Introducing Granite Edvance

We �Are

A New Hampshire-based 501c3 nonprofit, established in 1962 (formerly the NH Higher Education Assistance Foundation Network)

Our Mission

To support New Hampshire students and families in navigating their education and career pathways

We Offer

Free career and higher-education counseling and resources as well as funding support, including loans, grants and scholarships

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Appointments We Offer

Career & Aptitude Exploration

Exploring Future Options

Financial Aid Planning

FAFSA Assistance

Reviewing Financial Aid Offers

College Success

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Financial Aid Basics

How to Prepare

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Understanding Financial Aid

Definition and Goal

Financial aid is offered in the form of grants, scholarships, student loans, and work study jobs. The goal of financial aid is to help students pay for college.

This goal is achieved by

Evaluating a family’s ability to pay for educational costs (Student Aid Index)

SAI can be as low as -$1,500 and as high as $999,999

Distributing limited resources in an equitable manner
Providing a balance of self-help aid and gift aid (when available and eligible)

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Types of Financial Aid

Gift Aid

Merit-based (scholarships)

Offered based on academic, artistic, or athletic talent; community service, leadership

Need-based (grants)

Based on the family’s finances

Self Help Aid

Federal Loans

Subsidized Loans
Unsubsidized Loans

Work Study

Need-based campus employment

SCHOLARHIPS

These are based on something the student does or earns

Some scholarships may be automatically offered by schools based on GPA/Audition/etc. Others, including private scholarships, will require the student to seek out and apply for them independently.

GRANTS

Need based by completing the FAFSA

Federal Pell Grant (maximum $7,395)

Federal Supplemental Educational Opportunity Grant (FSEOG)

LOANS

Subsidized – the government pays the interest that accrues while students are enrolled in school at least half time

Unsubsidized – accrues interest while in-school

Fixed interest rate (6.39% beginning July 1, 2025)

Repayment starts 6 months after graduation or dropping below half time status (Ex. If a student takes a term off, etc.)

10-30 yr. repayment period, deferments available

Some loan forgiveness available

Federal Work Study

Need-based campus employment

Can be federal or institutional

YOU are responsible for finding a job

Students will receive a bi-weekly paycheck for the money earned

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Net Price Calculators

Calculators will differ from college to college

Results are an estimate of potential financial aid – you still must file the FAFSA and any other required financial aid forms

Things to Consider

Have the “money talk” early
Focus on net price, NOT sticker price
Types of aid offered at each school:

Merit
Need
Both

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NH-Specific Cost Savings Programs

Free tuition for first-time students or CC graduates attending a NH public college
Must be attending full-time and eligible for the Pell Grant

Granite Guarantee

Offers a more affordable college option for students ($230 per credit)

Community College

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Tuition Break

Students are eligible for the program when they enroll in an approved major that is not offered within their own state's public colleges/universities
A full-time enrolled student receives an average tuition break of $8,600

nebhe.org/tuitionbreak

How much of a discount?

It does NOT provide out of staters with in-state tuition, it is a percentage based on the schools they are looking at- refer them to the website for tuition break and their school of choice.

Who is eligible?

Permanent residents of the six New England states—Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont—enrolled in an eligible academic program or major at one of New England's public community colleges and universities. Residents of other states (e.g., New York, New Jersey) are not eligible for Tuition Break.

How does a student apply to be eligible for a tuition break program?

A student first determines that a program is offered through Tuition Break by the college or university where they wish to enroll. A student then completes the college’s application for admission and declares the Tuition Break degree program as their intended area of study. Once accepted to the college, a student should confirm that the college or university has granted Tuition Break status.
Note: Some programs may have special requirements or may not be available to freshman students. NEBHE does not require a separate application.

Some schools do not participate in Tuition Break, but may have regional pricing. Speak with your admissions representative for each school to understand your options.

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Applying for Financial Aid

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Financial Aid Forms

FAFSA

Free Application for Federal Student Aid

studentaid.gov

Available October 1st

CSS Profile

cssprofile.org

Available October 1st

Check with each school to determine required application forms and specific deadlines
Your timeline may be very different from the timeline of others
Consider these variables:

Where are you applying?
How are you applying?
When is the college’s deadline?

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The FAFSA

Goal

To collect a family’s personal and financial information to calculate the Student Aid Index (SAI)

Who Should File the FAFSA?

Everyone!

Why File the FAFSA?

You may be eligible for Federal Aid (federal loans, federal grants and/or work-study opportunities)
Some private scholarships require the FAFSA as part of their application process

The FAFSA Form must be completed every year

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File Online

studentaid.gov

Completing the FAFSA is free

Chat online with FAFSA Specialist or call:

1-800-4-FEDAID

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studentaid.gov Account

What is it?

A username/password that allows students and parents to log in to studentaid.gov
Real time identity verification for users with a Social Security number�

What is needed to create your account:

Your Social Security number
A cell phone number and/or email address unique to your account

Remember to save your Backup Code!

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Dependent

Requires “contributor”
Different from tax “dependent”

Independent

Student files alone

Defining Dependency

The FAFSA is a smart form which walks students through adding contributors

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Dependency Circumstances

Students are conditionally independent if…

they are married
they support dependents financially (children)
they are over the age of 24
they have a bachelors degree or higher
they are or were a member of the US armed forces
they are unaccompanied, and homeless or self supporting
at any time since the age or thirteen were an orphan, ward of the court, or in foster care
they are legally emancipated
they are/were in a legal guardianship with someone other than a parent
they are putting themselves at risk to contact parents

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FAFSA Contributor(s)

My biological parents or adoptive parents are married:

Or

My biological parents or adoptive parents aren’t married but live in the same house

Need more help? Try the Parent Wizard https://studentaid.gov/fafsa-apply/parents

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FAFSA Contributor(s)

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Financial Information

Income

Assets

Non-Retirement

Tax information verified with the IRS

Wages

Rental income

Payouts

Cash

Balance of savings accounts

Balance of checking accounts

Stocks/Bonds

Second/rental properties

Mutual Funds

Trusts

UGMA/UTMA

529/Coverdell

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Common Questions

Whose FAFSA is it?
When is the deadline to complete the FAFSA?
Which year’s tax return should a family use?
Does the number of college students in the household impact financial aid?
If a student is not sure they are going to college, should they still complete a FAFSA?

It is the student’s FAFSA. Parent information may be required on the FAFSA, but the application, the application results, and any awarded financial aid are in the student’s name.

The deadline will vary school to school. Many schools have a priority deadline of March 1, but it is important to check the deadlines for each school you are applying to. Early Action and Early Decision applications may require the FAFSA earlier than regular or rolling admissions.

The FAFSA and the CSS always use tax information from the prior-prior year, or two year’s prior. For the 2026-2027 award year, the FAFSA will use 2024 tax and income information. Assets will be reported as of the day the FAFSA is filed.

The number of student’s in college won’t impact your financial aid eligibility through the FAFSA. However, individual schools may use the number of college students in the household when considering institutional aid, so it is important to answer this question correctly.

If a student isn’t sure, it’s still appropriate to complete the FAFSA. Financial aid doesn’t disburse unless a student is enrolled in an eligible program, so they can complete the FAFSA and then opt not to use it and that’s totally fine! But it’s easier to have done it and ultimately not need it than to be scrambling to finish it at the last moment.

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CSS Profile

Used by approximately 250 colleges to determine eligibility for institutional aid
Use student’s College Board log-in to access form
$25 fee to register and to send to first school

$16 for each additional school

Fee waivers available for qualified students
A list of participating schools can be found on the CollegeBoard website, cssprofile.org

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Special Circumstances

Contact financial aid professionals at each college
Complete special circumstances form on each school’s financial aid webpage
Have realistic expectations of financial aid appeal outcomes

May be considered	Will not be considered
Loss or reduction of employment	Vacation expenses
Separation or divorce of parents	Graduate school expenses for a sibling
Death of a parent	Wedding expenses
High unreimbursed medical or dental expenses	Consumer debt
Unusual losses in business, investments, or real estate	Expenses related to pets

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Searching for Scholarships

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Local Search

School

Check with your school counselor for information about local scholarships for students from your community

Work

Check with your (or your parents’) employer(s). Many have scholarship programs set up for their employees or their family members.

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NH Specific Scholarships

Granite Edvance

Awarded over $750,000 to NH students in 2025
Award amounts range from $1,000 – $3,000
Trade school, certificate programs, associate, and bachelor’s degree students eligible
Application period and deadlines depend on the program a student is pursuing

NH Charitable Foundation

Statewide Student Aid Program

For students enrolling in 4-year degree programs
Typically open from mid-January to early April

Career Aid to Technical Students Program

For students enrolling in certificate and 2-year degree programs
Rolling deadlines for students in technical and associates programs

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National Search

Start the search now

Deadlines differ based on the scholarship

Helpful Tips

Create an appropriate and unique email address for the college and scholarship processes
Make sure that if you are providing an essay, it answers the prompt you are given
Do not pay money to apply

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Prepare

Gather the required personal and financial information required by the FAFSA and/or CSS profile

Make a chart/list of each school’s submission deadline

Complete the FAFSA, being sure to identify each school you may consider applying to (up to 20)

Submit your FAFSA before the earliest financial aid submission deadline

Determine which schools may also require the CSS profile and complete and submit that as well

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