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Financing Options

NEC Scholarships

Merit-based Scholarships

Available for traditional Undergraduate programs. Incoming students are automatically reviewed for scholarship eligibility. Merit-based scholarships are awarded to New England College’s undergraduate students upon admission to the college and renewed based on the following criteria:
  • You must maintain the minimum grade point average required by the scholarship;
  • You cannot be placed on any kind of academic or social probation;
  • You must make minimum academic progress toward their degree
  • You must maintain full-time status or your award will be prorated according to the your registered course load;
  • You must maintain half-time status or you cannot receive scholarship funding for that term(s) that you are registered on a half-time or less basis.

Restrictions to Institutional Awards: Students receiving any form of tuition remission to attend New England College are not eligible to receive any institutional scholarship. NEC Plus students are not eligible to receive merit based awards as they are already attending at a substantially discounted rate. Students are not eligible for more than one New England College scholarship.

PRESIDENTIAL SCHOLARSHIP

New England College’s most prestigious award, the Presidential Scholarship, is awarded to students with high school GPAs of 3.5 or higher. To continue receiving the Presidential Scholarship, students must maintain a cumulative GPA of 3.0 or higher while at NEC.

ALTA PETENDA SCHOLARSHIP

This scholarship is awarded to students with high school GPAs of 3.0 to 3.5. To continue receiving the Alta Petenda Scholarship, students must maintain a cumulative GPA of 2.75 or higher while at NEC.

NEW ENGLAND SCHOLARSHIP

This scholarship is awarded to students with high school GPAs of 2.75 to 3.0, who also indicate strong potential for achievement based upon academic or co-curricular accomplishments. To continue receiving the New England Scholarship, students must maintain a cumulative GPA of 2.5 or higher while at NEC.

NEC DEAN’S AWARD

This scholarship is awarded to students who achieve a high school GPA between 2.4 to 2.75.  Students must maintain a cumulative GPA of 3.0 or higher while at New England College.

SCIENCE AND MATHEMATICS SCHOLARSHIP

This scholarship is awarded to students indicating a desire to major in science or mathematics. Students must achieve a high school GPA of 2.4 or higher and maintain a cumulative GPA of 3.0 or higher while at New England College.

ARTISTIC ACHIEVEMENT SCHOLARSHIP

This scholarship is awarded to students indicating a desire to major in theatre, photography, art, or creative writing. Students must achieve a high school GPA of 2.4 or higher and maintain a cumulative GPA of 3.0 or higher while at New England College.

EDUCATION SCHOLARSHIP

This scholarship is awarded to students indicating a desire to major in education.  Students must achieve a high school GPA of 2.4 to 2.75 and maintain a cumulative GPA of 3.0 or higher while at New England College.

HUMANITIES SCHOLARSHIP

This scholarship is awarded to students indicating a desire to major in English, literature, philosophy, or history. Students must achieve a high school GPA of 2.4 or higher and maintain a cumulative GPA of 3.0 or higher while at New England College.

HEALTH AND FITNESS SCHOLARSHIP 

This scholarship is awarded to students indicating a desire to major in kinesiology, sport and recreation management, or health science. Students must achieve a high school GPA of 2.4 or higher and maintain a cumulative GPA of 3.0 or higher while at New England College.

MANAGEMENT AND COMMUNICATION SCHOLARSHIP 

This scholarship is awarded to students indicating a desire to major in business administration or communication. In general, students must achieve a high school GPA of 2.4 or higher and maintain a cumulative GPA of 3.0 or higher while at New England College.

POLITICS, SOCIETY, AND LAW SCHOLARSHIP 

This scholarship is awarded to students indicating a desire to major in criminal justice, political science, or sociology. Students must achieve a high school GPA of 2.4 or higher and maintain a cumulative GPA of 3.0 or higher while at New England College.

PSYCHOLOGY SCHOLARSHIP 

This scholarship is awarded to students indicating a desire to major in psychology. In general, students must achieve a high school GPA of 2.4 or higher and maintain a cumulative GPA of 3.0 or higher while at New England College.

COMMUNITY SERVICE SCHOLARSHIP 

This scholarship is awarded to students who have been active volunteers in their communities. Students must achieve a high school GPA between 2.0 and 2.4 and maintain a cumulative GPA of 2.5 or higher at New England College.

LEADERSHIP SCHOLARSHIP

This scholarship is awarded to students who have demonstrated leadership in co-curricular or community activities. Students must achieve a high school GPA between 2.0 and 2.4 and maintain a cumulative GPA of 2.0 or higher at New England College.

ACADEMIC IMPROVEMENT SCHOLARSHIP 

This scholarship is awarded to students who have shown significant improvement in their grades in the last year of study. Students must maintain a cumulative GPA of 2.3 or higher at New England College.

ACADEMIC OPPORTUNITY SCHOLARSHIP

This scholarship is awarded to students with a high school GPA of 2.0-2.4.  To continue receiving this scholarship, students must maintain a cumulative GPA fo 2.3 or higher at New England College.

ALUMNI LEGACY SCHOLARSHIP

This scholarship is awarded to those students who are children or grandchildren of NEC graduates. Students must maintain a cumulative GPA of 2.5 or higher while at New England College.

JOHN STARK SCHOLARSHIP 

Students graduating from John Stark Regional High School in Weare, NH are automatically awarded the John Stark Scholarship provided they have been accepted for admission to New England College. This scholarship provides a minimum of half tuition each year.

HENNIKER AREA SCHOLARSHIP

Students graduating from Hillsboro-Deering High School, Hopkinton High School, and Kearsarge Regional High School are automatically awarded the Henniker Area Scholarship upon acceptance to New England College.  Students must maintain a cumulative GPA of 2.5 or higher while at New England College.

COMMUNITY COLLEGE SCHOLARSHIP

This scholarship is awarded to students who are transferring from a community college.  Students must maintain a cumulative GPA of 2.5 or higher while at New England College.

TRANSFER SCHOLARSHIP

This scholarship is awarded to students who are transferring from other educational institutions with a minimum GPA of 2.0.  Students must maintain a cumulative GPA of 2.5 or higher while at New England College.

ENDOWED SCHOLARSHIPS

New England College students are considered for a range of merit and need-based endowed scholarships. Students should contact the Office of Student Financial Services for additional information.

Grants

After completing the Federal Application for Financial Aid (FAFSA), you are automatically considered for need-based grants offered by the federal government and New England College. If you are eligible, these awards will appear on your NEC financial aid award letter.

The Federal Pell Grant

Available  to undergraduate students. This program provides need-based federal grants to students based on their family contribution, as determined by the federal government. Recipients must not have already received a bachelor’s degree. Grant amounts will vary based on need.

Federal Supplemental Educational Opportunity Grant (FSEOG)

The FSEOG is a need-based federal grant available to students with a high level of financial need who are working towards their first bachelor’s degree. Preference is given to Federal Pell Grant recipients who apply for financial aid by the NEC priority deadlines and funds are limited and awarded based on eligibility and availability.

New England College Grant

New England College Grant funds are awarded based on demonstrated need using the institution’s methodology. Students must file a complete FAFSA and be enrolled on a full-time basis to be eligible for consideration for NEC Grant funding. Priority consideration is given to students who apply on or before the established priority deadline. Students who complete their FAFSA after the priority deadline will be awarded on a funds-available basis at that date. Available to traditional Undergraduate Programs

State Grants

State grants are administered by the state in which the student resides and each state determines and administers its own eligibility criteria.

Loan Opportunities

Federal Perkins Loan

A Federal Perkins Loan is administered by the College and is awarded to students with exceptional financial need. This loan, which is a 5% simple interest loan, is typically awarded in amounts ranging from $500 to $2,000 annually, most often to first or second year students to supplement lower Federal Stafford Loan eligibility. Repayment begins nine months after the student graduates, reduces his/her program to less than half time, or withdraws from NEC. Students are normally allowed up to 10 years to repay the Federal Perkins Loan.

Federal Direct Stafford Loan

A Federal Stafford Loan is a low interest, federal loan awarded on the basis of need. The interest rate will be fixed at 3.86% for Federal Direct Subsidized Stafford Loans beginning on July 1, 2013 through June 30, 2014. Repayment begins after the six month grace period expires. Depending on need, first-year students may borrow up to $3,500, sophomores up to $4,500, and juniors and seniors may borrow up to $5,500 each year. In order to be eligible for the supplemental Unsubsidized Stafford loan, a student must be either independent by federal standards or for dependent students, parents must receive a credit denial for the PLUS loan.

To receive a Stafford Loan, students must complete the Master Promissory Note and Entrance counseling interview at www.studentloans.gov

Federal Direct PLUS Loan

The Parent Loan for Undergraduate Students (PLUS) must be borrowed by a parent. The parent borrower may apply at www.studentloans.gov 90 days prior to the term start. The parent(s) can borrow up to the cost of education less financial assistance awarded and accepted by the student. The interest rate is fixed at 6.41%. Origination fees for this loan are 4.204%. Repayment for the PLUS will begin 30-45 days after the first disbursement has been released or may be deferred until after graduation.

The Graduate PLUS Loan for Graduate level students has a fixed interest rate of 5.41% for loans disbursed July 1, 2013 through June 30, 2013.  A graduate student may apply for the PLUS loan at www.studentloans.gov and may borrow up to the cost of attendance less financial assistance awarded.

Repaying Your Loans

Sample Loan Repayment Schedule

National Student Loan Data System

Federal loans are submitted to the National Student Loan Data System (NSLDS) and may be accessed by schools, lenders and guarantee agencies determined to be authorized users of the data system.

Students may review their complete loan history and loan services on NSLDS.

National Student Loan Data System

Federal loans are submitted to the National Student Loan Data System (NSLDS) and may be accessed by schools, lenders and guarantee agencies determined to be authorized users of the data system. Students may review their complete loan history and loan services on NSLDS.

Private Loan Programs

We strongly encourage you to pursue all state, federal, and institutional aid available to you first in financing your New England College education.  If you need additional financing after exhausting these sources or if you do not qualify for federal loans there are several lenders who offer alternative/private education loans.   The terms and conditions of private loans may be less favorable than federal loans.  Approvals of private loans are typically based on your credit rating and debt-to-income ratio and may require a co-signer.

New England College does not maintain a preferred lender list.  The below list represents the private lender programs used by our students during the previous school year.  New England College will process your financing options from any participating lender program.

We encourage you to thoroughly research lenders to ensure you receive the best rates and services that meet your needs.  Make sure to compare borrower benefits ranging from origination and default fees that can reduce the initial cost of the loan as well as benefits to save money during repayment such as auto-debit interest rate reductions.  Interest rates are typically variable, which means they can change monthly and rates vary amongst private lenders.  For current Prime and London Interbank Offered Rate (LIBOR) information, please go to www.bankrate.com.

Private Loans used by NEC borrowers during the 2012-2013 academic year

Baxter Credit Union Student Choice Loan
Visit:   www.bcu.org/studentloans.aspx
Call:  1-800-388-7000

Chase Select Private Student Loan (For existing Chase customers only)
Visit:   www.chasestudentloans.com

 CitiAssist Student Loan
Call:  1-800-788-3368
Citizen’s Bank TruFit Student Loan
Call:  1-800-708-6684
cuScholar Private Student Loan
Call:  1-888-549-9050
Digital Credit Union Student Choice Loan
Call:  1-800-324-1589
Discover Student Loans
Call:  1-877-728-3030
Holy Rosary Credit Union Student Choice Loan
Call:  1-866-219-0057
Massachusetts Educational Financing Authority Loan
Visit:  www.mefa.org
Call:  1-800-449-6332
Millbury Credit Union Student Choice Loan
Call:  1-866-260-2739
Sallie Mae Smart Option Student Loan
Call:  1-888-272-5543

Wells Fargo Collegiate Loan
Visit:  www.wellsfargo.com/student
Call:  1-800-378-5526

This list is not an endorsement by the college, you are welcome to chose any private lender.

Work Opportunities

There are two types of student employment opportunities available to New England College students – Federal Work Study and Institutional Work Study. For more information on work opportunities please click here.

Repaying Your Loans

Loan Servicers are the companies that handle the billing and other services for Federal Student Loans.  To view your loan servicer(s) visit www.nslds.ed.gov.

The National Student Loan Database System will list all of the Federal Student Loans that you have borrowed as a student.  If you borrowed private loans, you will need to contact the private lender(s) for billing/repayment options for the private loans.

There are several repayment options and options for deferment or forebearance if you experience difficulties with repayment of your Federal Loans.  Remember to keep in touch with your loan servicer(s) regarding your circumstances to review all of your options and avoid default.  More information regarding loan repayment and default may be found at www.studentaid.gov/repay-loans.

If you have student loan questions, please contact Student Financial Services  at 603. 428.2226 or sfs@nec.edu.  We can assist you with navigating your options.

Code of Conduct

The Code of Conduct applies to New England College employees, agents and officers.  We strictly prohibit revenue sharing arrangements with any lender.  We will not offer funds for private loans to students in exchange for providing concessions or promises to a lender of volume or preferred lender arragements.  We will process certifications from any lender timely.  Financial Aid staff will not accept any compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to educational loans.  Financial Aid staff will not accept compensation for service on an advisory board, commission or group established by lenders or guarantors, except for reimbursement for reasonable expenses as allowed.