Financial Aid

The Financial Aid Team at PSU is committed to assisting qualified students who are unable to meet their entire educational expenses from their own and their family's resources. Financial Aid is awarded to students based on need or through merit scholarships for their academic or performing achievements. The three basic types of aid available are scholarships and grants, loans and work opportunities.

With over 100 years of combined experience, our team continuously strives to provide the highest level of customer service.

The Financial Aid Team is committed to utilizing a paperless process for notifying all students of their financial aid eligibility.  Through the use of our student portal, students have 24/7 access to all financial aid requests needed to identify eligibility for aid. We encourage you to check your myPlymouth account frequently for updates.  To alert you to needed information, you also receive an email (at your PSU email account) directing you to the PSU student portal.


PSU Priority FAFSA Filing Deadline: March 1

 

important


Stimulus Bill Offers Tax Credit for College Tuition, Textbooks, Fees (USA Today)
  • "As you grapple with rising costs, make sure you don't overlook a valuable new tax break. The American Opportunity Credit, part of the economic stimulus bill enacted this year, provides a tax credit of up to $2,500 to offset the cost of tuition, fees and textbooks," USA Today reports. "Tax credits for college aren't new: the Hope and Lifetime Learning Credits have been around since the Clinton administration. But the American Opportunity Credit, which is available only for 2009 and 2010, will provide a bigger tax break for many families." You can read the complete Oct. 26, 2009 USA Today article on-line.
  • For more information about education tax breaks, go to www.irs.gov and search under ‘ Tax Benefits for Education Information Center.'

PSU CAMPUS ANNOUNCEMENT

PSU’s FINANCIAL AID TEAM IS MAKING A SIGNIFICANT CHANGE IN HOW STUDENTS AND PARENTS ACCESS FEDERAL LOAN FUNDS

Plymouth State University (PSU) is pleased to announce that beginning with the 2009-10 academic year, we will be participating in the Federal Direct Loan program.

PSU has researched and compared two federal loan programs; our current Federal Family Educational Loan Program (FFELP) and the Federal Direct Loan program (Direct Loans).

During our research it became evident that the Direct Loan program would better serve our PSU students for a number of reasons.

1.    ACCESS TO FUNDS:  The Direct Loan program is funded directly by the Federal Government, eliminating the concern for access of funds from banks and other lenders who may be exiting the FFELP program.  PSU has chosen to participate in a loan program which will have funds available - Direct!

2.    LOWER COST TO PARENT:  The Federal PLUS Loan is available through the Direct Loan program at a lower cost to parents.  Parents of dependent students are able to access Federal PLUS at 7.9% interest with Direct Loans versus 8.5% in FFELP.

3.    ADDED REPAYMENT PLAN:  There is an additional repayment plan option through the Direct Loan program, specifically, the income contingent plan.  The government forgives the balance of the loan if it is not repaid after the 25th year of being in repayment.  In addition, the interest never exceeds 10% of the loan principle..

4.    PUBLIC SERVICE FORGIVENESS:  For PSU graduates working in key public service professions such as teaching, government, social work, law enforcement, and non-profit 501(c)(3) organizations, Direct Loans have a new Public Service Loan Forgiveness program that will forgive remaining debt after 10 years of eligible employment and qualifying loan payments.

5.    SMOOTHER DELIVERY OF LOAN FUNDS:  The Direct Loan program is fully integrated with the federal financial aid process, simplifying the administration and oversight of the loan funds.  PSU has the technology and business process in place to administer this program which is similar to other federal programs we administer.

6.    ONE LENDER:  Students will be able to track their Direct loans with one lender and in one location.

7.    LOANS NEVER SOLD:  Loans can be sold in FFELP.  Loans are never sold in the Direct Loan program.

8.    CONSOLIDATION CHOICE:  All federal loans can be consolidated to the Direct Loan program, or to the FFELP program.  There is still a choice in repayment options for PSU students.

 

We are very EXCITED about this change in access of loan funds which we know will have a positive impact on our ability to serve our students.  Please let us know if you have any questions regarding the Federal Direct Loan Program.

 

Financial Aid. Speare Administration Building. MSC 18. (603) 535-2338. (877) 846-5755 (toll-free). Contact Us

Plymouth State University. 17 High Street. Plymouth, New Hampshire 03264-1595. Main Switchboard: (603) 535-5000.
A member of the University System of New Hampshire.© 2006-2009. All rights Reserved.
This page was last updated: 11/20/2009