Types of Aid
Financial aid programs administered by the New Hampshire Institute of Art come from federal, state, and institutional sources. The three types of aid, gift, loan, and work are combined to create an offer of assistance referred to as a financial aid package.
Most dependant Institute students borrow an estimated total of $27,000.00 in Stafford loans during their 4 year program. ($5500 in the Freshman year, $6500 in the sophomore year, $7500 in each the junior and senior years.). This estimated total does not include optional parent PLUS loans or private alternative loan debt.
Federal Pell Grants are designed to assist students who demonstrate exceptional financial need. The current maximum award is $5,730.00. This award does not have to be paid back.
Federal Supplemental Educational Opportunity Grants (FSEOG) are available to students who demonstrate exceptional financial need. This is federal money that the New Hampshire Institute of Art allocates to students who demonstrate exceptional need. This award does not have to be paid back.
Federal College Work Study provides part-time employment opportunities on and off campus to eligible students based on the results of the FAFSA. The program is designed for student employment arranged around scheduled classes.
Federal Stafford Loans are normally included in your financial aid package if you are enrolled at least half time. This is a low interest loan with a long-term repayment plan.
FEDERAL PLUS Loans (Parent loans) are credit-based loans available to parents to help meet the educational costs of dependent children enrolled at least half time.
Alternative Loans: private loan programs available for students to finance their education. Most of these loans are credit-based and require co-borrowers. The Financial Aid Office can provide advice on how to shop for these types of supplemental loans.