What Factors Can Affect Your Financial Aid?

By: The FEDS

Did you know that there are things that can affect your financial aid? Are you aware of the factors that can cause changes to the amount of aid you receive? It is important to keep the students of UNH informed about how their aid may change so here are the most common reasons that changes may occur!

• The first major factor that can affect a student’s financial aid would be changes in the FAFSA from one academic year to the next. Your financial aid will change if your financial situation changes. For example, if one parent was to earn more money, or if one parent was to lose their job, the amount of financial aid the student receives could change.
• Deadlines are also very important to having the most financial aid you qualify for.  It is very important to submit all of your documentation by the deadline because if you don’t, then your need-based financial aid may be affected. The deadline for the FAFSA was March 1^st, whereas the deadline for the other documents is April 25^th.  The later you submit the documents, the less need based grant funds are available.
• Another important factor is your CUMULATIVE GPA.  For example, in order to keep your academic scholarships, you must maintain a cGPA of a 3.0. Falling below the 3.0 will cause you to lose your scholarships for one academic year. HOWEVER, do not let this discourage you because you can get the scholarships back! If you bring your cGPA up to a 3.0 before the first day of the fall semester then the award will be reinstated. You can do this by taking summer courses to boost your cGPA. If you take a course somewhere other than UNH, you must course coordinate with Academic Advisor approval through the Registrar’s Office. REMEMBER, you must inform the Financial Aid Office that your cGPA has changed and it must change before the first day of the Fall semester.
• Along with maintaining a 3.0 cGPA to keep your academic scholarships, you must also maintain satisfactory academic progress (SAP) to be eligible for any type of financial aid. If you do not meet the requirements of SAP then you are allowed to appeal. Information on appealing is provided in the academically ineligible letter mailed in June. If you choose not to appeal or if your appeal is denied, you will need to complete all the requirements necessary to reinstate your eligibility. Once your SAP issue is cleared, you must inform the Financial Aid Office because they will not automatically review your eligibility for aid.
• In order to maintain full time status and keep your full time aid you must register for a minimum of 12 credits each semester. Anything below 12 credits and you will be considered a part-time student which affects your financial aid eligibility.
• Housing status can also affect the amount of financial aid you receive. If you are living on campus, and decide to move to off-campus housing, your financial aid from the school may change.  A portion of need based aid is awarded to students because you are paying UNH directly for your room and board. If you no longer live on campus, then you are no longer incurring room and board fees which lowers your direct educational costs to the university.

All of these are major factors that could impact the amount of financial aid a student will receive, so it is important to make all UNH students aware of them. If you feel that you may have any of these issues, please visit the Financial Aid Office, Room 118B in Maxcy Hall.