Funding Your Education

Step 1

Determine Your Cost of Attendance

Determine what your total cost is to attend PSU for an academic year. Please see the Estimated Costs (2017-2018) web page for more information about charges which will be billed each semester by Student Account Services.  Estimated direct (billable) costs and the Cost of Attendance (COA) used for the 2017-2018 academic year are listed below.   Actual rates for 2017-2018 will be established by the University System of New Hampshire (USNH) Board of Trustees at the end of June and will be reflected in your Fall Semester bill which will be available online at the beginning of July. For specific information about billing, please contact Financial Aid.

Estimated Direct BILLED Costs
2017-18
Estimated Cost of Attendance*  2017-18
NH Resident $23,705 $27,300
Out-of-State Resident $32,165 $35,950
Commuting From Home $13,800 $21,650
New England Regional (Admitted Spring 2015 & Later) $26,165 $29,950
New England Regional (Admitted Fall 2014)  $27,935  $31,750
New England Regional (Admitted Prior) $30,485 $34,300

*COA (Cost of Attendance) – both billed and estimated unbilled costs are used when determining total estimated financial aid eligibility. Depending upon living arrangements and course of study, students should plan to budget an additional estimated $3,595 – $3,815 annually to cover books/supplies, personal and/or travel expenses. Students living off-campus will not have housing and meal plan charges appear on their bill unless they signed an on-campus meal plan contract, but can use financial aid to help cover the costs of their off-campus expenses. Commuting expenses are estimated on living at home and traveling to school.

Notes:

  1. NEBHE (New England Board of Higher Education) – Students are notified of their eligibility in The New England Regional Student Program through the admission’s process based on term accepted to PSU. Additional information about the NEBHE program can be found on the Office of Admission website.
  2. Out-of-State Commuter estimated billed costs for 2017-2018 are $22,260.
  3. Some students may be required to provide verification of health insurance in order to participate in sports or specific majors (i.e., Nursing). If students are not covered under their parents’ medical plans, they must seek their own coverage. Additional loan assistance from federal or private resources may be available to assist after students provide documentation to PSU’s Financial Aid Team that identifies the student and the total academic year premiums. Students will need to apply and qualify for all loan programs to access additional assistance. These loans usually require credit approval and can take up to a month’s time before the funds are available. A listing of local insurance agencies is available at the Health Services website.

Step 2

Determine Your Financial Aid Award

You will be notified of your financial aid eligibility. For more specific information about the various types of aid, please see the following:

(1) Please remember that Federal Work Study awards will not be applied to your bill. When awarded Federal Work Study, the amount reflected indicates your maximum earnings eligibility; this does not guarantee a job. Students are responsible for securing a job on campus and will receive pay checks every two weeks for hours actually worked.

(2) Notice to NCAA Division III Athletes: NCAA 15.2.3.5.1
It is not permissible for a student-athlete to receive financial aid, directly or indirectly, from a source outside the institution (e.g., a foreign government, a sports association, a high school booster club) for expenses related to attendance at a member institution, if the award of such financial aid is based in any degree upon the recipient’s athletics leadership, ability, participation or performance, except as permitted in Bylaw 15.2.3.5. Receipt of financial aid from such a source renders the student-athlete ineligible for all intercollegiate athletics participation. (Revised: 8/22/06, 4/30/09)

A very helpful tool to calculate your estimated bill is available at through Student Account Services.  We encourage you to use this tool in determining any other resources needed to pay your bill each semester.

Step 3

Options for Funding Your Education

Once you have determined your Cost of Attendance and subtracted your financial aid award (except Federal Work-Study and any associated loan fees) the following options may be considered to fund your costs for the academic year:

  • Option 1: Family and other resources from savings, work, outside scholarships, etc
  • Option 2: Tuition payment program (This is a great option!) is the interest-free, debt-free way to spread tuition payments over a number of months. The tuition payment program is not a loan, so there are no interest payments, only a low enrollment fee. The Plan allows you to break down your education expenses in easy-to-manage installments, rather than one lump sum payments. It’s simple and convenient.
  • Option 3: Federal Direct Parent Loan for Undergraduate Students (PLUS) is a fixed  interest loan authorized by the Federal government to help pay for dependent student’s education.   There are fees associated with this loan, and the parent is responsible for repayment.  In-school deferments may be available by contacting the Direct Loan Servicer after your PLUS loan proceeds have been disbursed to the student’s bill.
  • Option 4: Alternative Loans are in the name of the student, and most commonly require a cosigner. Alternative loans may have variable interest rates, higher fees and fewer borrower benefits than Federal loans. Some private lenders will require payment of accrued interest while a student is enrolled.

Note: A combination of the options above may be used.