This is a busy and exciting time; we realize you have a lot of information to take in. Here are some crucial links to help you through the billing and payment process:
Certain courses are assessed special fees to help cover additional costs above the standard classroom instruction expenses.
All students are required to pay mandatory fees. These fees cover such items as student activities and organizations, the student union and recreation facilities, health services*, building maintenance and upkeep, and technical equipment in computer clusters, language labs, art facilities and labs. (*Please note: PSU does not require nor offer health insurance; health service fees do not go toward student health insurance and no proof of insurance is required.)
A student taking more than 17 credits in a given term is considered to be in ‘overload’ status. Overload fees will not be in affect for the Spring 2019 term. Undergraduate students wishing to register in more than 17 credit hours will need to see the Registrar’s Office to complete an overload request form.
Future overload fees may be assessed per credit based on tuition status and residency. Students will be required to sign an overload form acknowledging the extra fee at the time they register for the overload.
For the billing purposes, a student’s credit load is his or her load at the end of the official add/drop period plus any additional credits for which the student registers after that date in the semester. A student who registers for more than 17 credits or one who enrolls after the closing date of the add/drop period is subject to an overload charge, regardless of whether the student drops a course after that date.
Federal direct student loans are available to all students (see our FAQ on aggregate and annual loan limits for more information); grant and scholarship amounts vary. If you don’t yet know your financial aid award, our Net Price Calculator can help you estimate your financial aid award and help you determine what your out-of-pocket expenses will be. If you have your financial aid award, the undergraduate Online Bill Estimator can help you estimate your PSU bill.
1. MASTER PROMISSORY NOTE: The MPN is your promise to repay your federal direct loan. The Direct Loan MPN is valid for ten years.
2. ENTRANCE COUNSELING SESSION: The online counseling session assures that you understand your rights and responsibilities when borrowing federal loans.
Both of these requirements may be completed at StudentLoans.gov, using the same FSA ID you used to sign the FAFSA. Once logged in, please proceed to the links for “Complete Counseling” and “Complete Master Promissory Note.”
Note: Your MPN is not considered complete until you reach the screen with the following message: “Thank you for submitting the MPN. You may view/download the PDF version of your completed MPN.”
For more information about Federal Direct Loans and loan limits, please see our Federal Direct Loan webpage.
Project on Student Debt and NASFAA have compiled a list of the Top 10 Student Loan Tips for Recent Graduates. Whether you just graduated, are taking a break from school, or have already started repaying your student loans, these tips will help you keep your student loan debt under control. That means avoiding fees and extra interest costs, keeping your payments affordable, and protecting your credit rating.
You may view your PSU Loan History online to determine the total amount borrowed in Federal, Private and PLUS loans while at PSU. This online tool is an excellent way to become knowledgeable on how your borrowing will impact the repayment of all your loans while enrolled at PSU (including alternative and parent PLUS Loans). This information pulls student’s loan history (accessed from the PSU portal) and displays it to help each student understand the impact of loan debt upon graduation and repayment. Students can track this information beginning their first year at PSU through the time they graduate.
You may also wish to view our Repayment Checklist to assist you with preparing to begin repayment on your loans. A guide to repaying your student loans also offers information on federal student loan repayment options, borrowers’ rights and responsibilities, and consequences of default.
What is the National Student Loan Data System (NSLDS)?
The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, and other Department of ED programs. NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data.
What is Exit Counseling?
Before you leave school, the Financial Aid Office will provide you with directions on how to complete Exit Counseling online. The counseling session provides information about how to manage your student loans after college. It is REQUIRED for all students who borrow Federal loans.
Some of the valuable information you will receive upon completion of your Exit Counseling:
- Why you need to stay in touch with your loan lender.
- Repayment options (discussed below).
- Calculator to determine how much your monthly payment will be.
- When repayment begins.
- What to do if you have trouble making payments on your loans.
- Combining your loans.
- Loan cancellation and forgiveness.
- Consequences of delinquency and default.
- Tips for successful repayment of your student loans.
- How to build good credit.
- How to start saving money.
- Where to request your credit report from.
- Complete a personal budget.
When does repayment start on my loans?
Repayment on your loans beging after you graduate, leave school, or drop below half-time enrollment. Generally you have a grace period before you have to begin repayment. The grace period is a determined length of time when no payments are due. You can start repaying during the grace period and save some money in the long run.
- For Federal Perkins Loans, the grace period is nine months.
- For Federal Direct Loans, the grace period is six months.
- For Federal PLUS Loans, repayment begins 30 to 45 days after the final loan disbursement.
Note: You are responsible for beginning repayment on-time, even if you do not receive this information.
If you are having difficulties making timely payments, there are five main repayment plans available. More information about each can be found at StudentAid.ed.gov. Contact your loan servicer directly if you would like to discuss repayment plan options or change your repayment plan.
- Standard: Your monthly payments will be at least $50 and you will have up to 10 years to repay.
- Graduated Repayment Plan: This means that your payments will start out lower and will increase over time. Your monthly payments must be at least equal to the interest accrued on the loan between scheduled payments. You will pay off your loans in 10 years.
- Extended Repayment Plan: This means the time for repayment could be extended from 10 years up to 25 years. Your monthly payments would be lower than with the 10-year standard plan but you will pay more over time with this plan.
- Income-Based Repayment Plan: Your monthly payments will be based on your yearly income and your total loan amount.
- Pay As You Earn Repayment Plan: To qualify, you must have a partial financial hardship, which means the monthly amount you would be required to pay on your eligible federal student loans under a 10-year Standard Repayment Plan is higher than the monthly amount you would be required to repay under Pay As You Earn.
Note: The longer your loan is in repayment, the more interest you will pay. For a chart to explain how repayments work, a great tool to use is the Direct Loan Repayment Calculator or the Loan Payment Chart Generator.
During your grace period you may want to consolidate your federal education loans. Consolidation allows you to simplify the repayment process by combining your federal loans into one loan, so you make just one payment a month. This one monthly payment may be lower than what you would be required to pay monthly if you do not consolidate.
- You will have a longer period of time to repay your consolidation loans, but this means you will pay more interest over time.
- Consolidation can double total interest expense! Once made, consolidation loans cannot be unmade.
- The repayment period is 10 – 30 years, depending on the amount of your debt and the repayment option you choose.
- Can I afford payments without consolidating?
- Would consolidation make my payments more affordable?
- Am I willing to pay additional interest?
- Will my interest rate be higher or lower?
- Will I receive any benefits from my lender?
Use our Loan Consolidation Checklist to determine whether consolidation is the best option for you and to assist you with what information you’ll need to consolidate your loans. For more information on federal loan consolidation, please visit the Direct Consolidation Loans Information Center
Want to save money?
Some loan holders offer reduced interest rates if you choose to repay your loan using electronic payment. Electronic payment allows your bank to automatically deduct your monthly payments from your checking or savings account. Also, you may be able to get a reduced interest rate if you make a certain number of consecutive on-time monthly payments.
To access your bill:
Go to my.plymouth.edu
- Enter your user name and password.
- Click on the ‘Services’ tab.
In the myFinances block click on ‘View My Bill’.
- Family Access members: Go to the ‘View Bill for’ line just below and be sure you have selected your student’s name from the drop-down menu before clicking the ‘Go’ button.
- Select the billing term you wish to view from the drop-down menu in the upper right hand corner of the online bill.
- For Spring 2019, bills will be posted on November 9th and are DUE on December 7th (or a payment plan must be in place with TMS to cover the entire balance)
- Early Spring courses – payment due within 48 hours of enrollment
- Graduate courses – payment due within 48 hours of enrollment
- not being able to register for classes
- not being confirmed as a student and being withdrawn from Plymouth State University
- transcripts being held by the Registrar’s Office
- a 1.5% late fee being assessed on your account
Don’t ignore a hold notice or assume that financial aid (or someone else) will clear the hold for you. Be proactive and take charge by clearing your account. Visit Student Account Services as soon as you are aware of your financial hold if you have any questions. If you fail to clear holds and be confirmed by the confirmation deadline, you may be dropped from classes. To be reinstated, you must cover your account as well as pay late confirmation and late add fees and secure the signature of each instructor. You are not guaranteed a seat in any class from which you were dropped.
Methods of Purchase
Notify Student Financial Services of your award.
- Complete the Outside Scholarship Form (PDF). Note: The amount of your scholarship(s) may have an impact on your financial aid package.
Please be sure the following information is included or the form may be rejected:
- Your full name and student ID number
- Scholarship name, address, contact phone number and copy of award
- Amount of scholarship
- Term scholarship is to be used (Summer, Fall, Winter, Spring)
- Mail completed form and copy of award letter(s) or certificate(s) to:
Plymouth State University
Student Account Services
17 High Street MSC #19
Plymouth, NH 03264
- Once the above information has been received by Student Account Services it will be reviewed to see if the scholarship can show as pending payment on your online bill. Scholarships contingent on grades or additional requirements by the student cannot show as pending payment. If a scholarship can show as a pending payment on a student’s bill, Student Account Services will account for this pending payment for up to 45 days after the start of the semester. If payment is not received within this time frame, the pending payment will be removed from the online bill and it will become the student’s responsibility to pay immediately any outstanding balances in order to avoid a 1.5% late fee.
- If a scholarship provider requires a copy of the student’s bill, it is the student’s responsibility to print their bill and send it to the scholarship provider. PSU does not send bills for student scholarships.
- Should you receive a scholarship check directly, please be sure to properly endorse the check if necessary and forward it to Student Account Services at the address above.
- Notify the Financial Aid Office of your award by completing this Outside Scholarship Form (PDF).Note: The amount of your scholarship may have an impact on your Financial Aid package.
- Submit Purchase Order or Payment Authorization either:
- By email to: firstname.lastname@example.org
- By mail to: Plymouth State University
Student Account Services
17 High Street MSC #19
Plymouth, NH 03264
3. Plymouth State University Bills the Company
Student Account Services will bill the company for this anticipated payment for up to 45 days after the start of the semester. If payment is not received within this time frame, the anticipated payment will be removed from the online bill and it will become the student’s responsibility to pay immediately any outstanding balances in order to avoid a 1.5% interest late fee.
- One scholarship per term
- Applies to one course (up to three credits)
- Not applicable to students admitted to a degree program
- Covers only tuition (not fees)
Students are responsible for paying all related fees, including mandatory fees. No other discounts apply. Senior Citizens taking more than 4.5 credits must follow the overload guidelines.
Any regularly-admitted undergraduate student with a course load of 12 to 17 credit hours is subject to full-time tuition and fees for that entire semester. Full-time tuition and fees will be charged to all undergraduate students identified as full time at the time of admission. Full-time undergraduate students must have at least 12 credits to be considered for full financial aid purposes.
Students who voluntarily choose to change to part-time must file for a change of status in the Office of the Dean of Student Affairs by the end of the Add period, which is one week after Registration Day. A change to part-time status may impact your eligibility for financial assistance, on-campus housing and intercollegiate athletics. Students in good academic standing who wish to change back to full-time status must see the Registrar.
Satisfactory Academic Progress (SAP) is the measurement of a student’s academic progress towards the completion of their degree. The measurement evaluates three components to determine eligibility for financial aid. The review of a student’s SAP status is based on his or her entire academic record, even if he/she did not receive financial aid for previous semesters of enrollment. In order to be eligible for financial aid, undergraduate students must satisfy all three of the following components:
- All degree candidates must maintain academic standing consistent with PSU’s graduation requirements regarding grade point average [GPA] by maintaining a minimum cumulative GPA of 2.0. Audited coursework is not included in the GPA calculation.
- The completion rate is calculated by dividing total earned credits by total attempted credits. A student’s completion rate must stay above the required sixty-seven percent (67%) to be considered satisfactory for this component. Attempted credits include successfully completed courses, courses with non-passing grades, incomplete courses, withdrawn courses, transfer credits and repeated courses. Earned credits include successfully completed courses and transfer credits. Audited coursework is not included in this calculation.
- Maximum time frame of 150% of defined academic length for bachelor’s degree programs. The maximum time frame is calculated by multiplying the published program length by 150 percent. Example: Published program length of 120 credits X 150% = 180 credits maximum time frame allowed to complete degree requirements. Implication: A student has attempted (not necessarily earned) 180 credits and has now exhausted his/her eligibility for financial aid.
Note, to graduate in four years (eight semesters), bachelor’s degree students must complete an average of 15 to 15.5 credit hours per semester for eight semesters.
Evaluations and Notifications
The PSU Financial Aid Team evaluates SAP annually at the end of each spring term for undergraduate students, or upon re-enrollment into the university. SAP is also reviewed at the end of each probationary period as applicable. Students must be making SAP to continue to receive financial aid in a subsequent payment period, including the summer and early spring terms. Financial aid applicants not meeting SAP standards will be deemed ineligible to receive financial aid and will be sent notification to their campus email account.
Financial Aid Termination
INELIGIBLE satisfactory academic progress status will result in the loss of all federal, state, and PSU aid, including grants, scholarships, loans, and work-study employment, until the student has met required guidelines and returns to an ELIGIBLE status.
Students who do not meet the minimum SAP requirements for continuance of financial aid have the right to appeal when special circumstances exist. Conditions when a student may appeal include:
- If you or an immediate family member experiences a serious injury, illness or mental health condition, please attach a statement from your physician or mental health professional, reflecting date(s) of occurrence/treatment.
- If you experienced the death of immediate family member, please attach a copy of the death certificate, paper obituary/link to online obituary, or statement from physician.
- If you experienced other circumstances beyond your control, please attach documentation that supports the situation.
Students will receive communication from the PSU Financial Aid Team regarding their INELIGIBLE status and will be advised of the requirements needed to file an appeal. If an ineligible student does not appeal, reinstatement for financial aid consideration will only occur once the student meets all of the SAP requirements. In addition, students must submit all requested documentation.
Approved Appeals/Financial Aid Probation
If an appeal is approved, financial aid will be reinstated for the following term and the student will be placed on PROBATIONARY status for that term. The student will be required to successfully complete (with passing grades) all courses attempted for that term. Successful completion of all classes (with passing grades) will allow a student to return to an ELIGIBLE status for financial aid. Failure to meet these requirements will automatically place a student back to INELIGIBLE status.
Students whose appeals are denied are ineligible for financial aid. The student may enroll in coursework but will be responsible for payment in full of all incurred costs. Written denial notification will be sent to the student’s campus email account. Students may wish to explore private/alternative education loan; however, please note that some private loan lenders require SAP for participation in their loan program. Be sure you are selecting a lender that does not require SAP (SAP denied students are not eligible to receive a PLUS loan).
Re-Establishing Financial Aid Eligibility
A student may regain financial aid eligibility by successfully meeting the University’s SAP policy requirements or successfully meeting the requirements of the established academic plan. Students must notify the office in writing of their intent to use financial aid again.