Financial Aid Overview

To apply for additional funding for your education, please complete the FAFSA

Step 1: File the Free Application for Federal Student Aid.  The FAFSA is available after October 1 and needs to be completed each year.  File before our priority deadline of March 1.

Step 2: Review your Student Aid Report (SAR) for accuracy which you will receive after the FAFSA is submitted.  Any changes should be made by logging back into your FAFSA.

Step 3: Some FAFSA’s will be selected for a process known as “Verification”. If your FAFSA is selected NEC will request additional documentation from you.  Be sure to submit all requested documents and allow time for your financial aid counselor to review them. Current students may view their required documents online through MyNEC.

Step 4: You will receive your NEC financial aid award letter by email.  This lists the aid that you qualify for.  All aid is considered automatically accepted.  If you wish to decline all or a portion of the award, notify the office in writing.  Be sure to read the terms of the award and discuss any questions with your financial aid counselor.

Step 5: For first-time NEC Federal Direct loan borrowers, complete Loan Entrance Counseling and the Master Promissory Note at studentaid.gov.

Step 6: Review the affordable options available to cover any remaining expenses.

Important Information Regarding Your Award

• Your financial aid offer is based on the information you provided on the FAFSA. It could change due to verification of FAFSA data, change in enrollment status, failure to meet satisfactory academic progress, or other factors.
• Requests for outstanding requirements will be sent to you by email and posted online through MyNEC.
• To review the amount of financial aid you will receive each term, access MyNEC. If your enrollment plans differ from the terms you have been awarded aid, please inform the SFS Office in writing or by email to sfs@nec.edu.
• Financial aid funds will be disbursed in equal amounts at the beginning of each term you are enrolled and after all requirements are complete. The amount of financial aid is contingent upon full-time enrollment. If course load is reduced, the award may be adjusted.
• Withdrawal from NEC after the first day of classes will result in a revision of the award based upon the College’s refund for withdrawals policy and federal regulations.
• If you receive outside financial assistance for educational expenses such as scholarships or employer sponsored tuition, you must notify the SFS Office in writing detailing the amount you anticipate to receive for the financial aid award year. These resources must be taken into consideration when calculating a student’s financial aid eligibility.
• Financial aid awards are considered automatically accepted. If you would like to decline all or a portion of the financial aid, please submit your request in writing to the Student Financial Services Office from your NEC assigned email address or a date signed statement.

November – April

• Receive and review the financial aid award letter
• Respond to requests for additional documentation
• Review payment and financing options for the coming year

March 1

• FAFSA priority deadline

April 15

• Parents of FAFSA dependent students may apply for the Federal Parent PLUS loan at studentaid.gov

May 1

• Admission deposit refund deadline
• Go to MyNEC portal and complete any remaining outstanding financial aid requirements
• Go to studentaid.gov to complete the Direct Loan Master Promissory Note and Entrance Loan Counseling to accept federal student loans offered in your financial aid letter

June 15

• Deadline to submit any outstanding financial aid requirements
• Eligible students choosing to opt out of the student health plan, complete the waiver at crossagency.com/nec
• If you are paying for college with a private student loan or Parent PLUS, apply for your loan by July 15
• If you are paying for college with a check, card, or the monthly installment plan, pay in your MYNEC portal by July 15

July 15

• Fall semester tuition payment options are due
• Complete tuition insurance enrollment at gradguard.com/nec

October 1

• Renew your FAFSA for 2023-2024 at studentaid.gov

December 15

• Spring semester tuition deadline

Do I need to wait until filing my taxes to complete the FAFSA?
No need to wait. You may file your FAFSA with estimates and update it once your taxes are complete. We encourage you to file as early as possible. You may receive an adjusted financial aid award once the actual tax figures are entered.

Do I need to be admitted before I can apply for financial aid at New England College?
You may apply for financial aid any time after October 1. To actually receive funds, you must be admitted to a degree granting program at New England College.

What is New England College’s FAFSA code?
The school code for New England College is 002579.

What do I have to do to file for financial aid?
Complete the Free Application for Federal Student Aid (FAFSA).

What is NEC’s priority deadline for filing for financial aid?
Our priority deadline is March 1.

I might not qualify for aid. Should I apply for aid anyway?
Yes. Many families mistakenly think they don’t qualify for aid and there are sources of aid such as the Unsubsidized Stafford loan and PLUS loan that are available regardless of need. We encourage everyone to apply.

Do I have to reapply for financial aid every year?
Yes, the FAFSA must be renewed annually. Your federal, state and New England College need-based aid is determined annually. Merit scholarships are renewable provided students meet the minimum requirements for the award.

What are the billing deadlines each semester?
The fall semester billing deadline is July 15. The spring semester billing deadline is December 15. If you have more questions, please ask. We understand the process and are eager to help.

What is financial aid?
Financial aid is the term used for all types of assistance to pay for college. Financial aid includes grants, scholarships, loans and work study. Financial aid comes from various sources such as the Federal Government, New England College, states and private organizations.

How do I apply for financial aid?
U.S. Citizens and eligible non-citizens submit the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov. International Students/Non-US Citizens (only) submit the CSS Profile at collegeboard.org.

When will I receive my financial aid award letter?
Students who have already filed their FAFSA and have been accepted to NEC would receive an award letter or a request for additional information within approximately 1-2 weeks of submitting the FAFSA.

How do I accept the financial aid offered in the award letter?
If you need to submit additional documents, you will receive an email from New England College Student Financial Services requesting documentation. You can also view your requirements online through MYNEC, linked from this page, once you have your MYNEC login. If you are receiving Federal Direct Student Loans, you will complete the Direct Loan Master Promissory Note and Entrance Counseling online at studentloans.gov anytime between May 1 and June 15. Please review and respond to requests timely.

When is the first tuition payment due?
The fall semester tuition invoice is mailed and made available online through MYNEC June 15. The fall semester invoice is due by July 15. Spring semester invoices are due by December 15.

There is a gap between my tuition and financial aid. How can I cover that cost?
There are several options available. We suggest using a combination of the options. Payments may be made by check, Visa, MasterCard, Discover or American Express by phone or online in MyNEC. An interest-free payment plan is available in the MyNEC portal.  Financing is available through the Federal Parent PLUS loan program at studentaid.gov and through private banks. Our staff can assist you in finding the best option(s) for you and your family. Parents may apply for the Parent PLUS loan at studentaid.gov after April 15 each year.

Can financial aid cover the cost of books and supplies?
If you have an approved loan in excess of your tuition bill and if you have chosen YES on your Credit Authorization form to use funds for other expenses, you will have a book voucher available automatically at the Online Bookstore approximately two weeks prior to and during the first week of a semester.  Book vouchers can be used to purchase or rent textbooks from https://nec.ecampus.com.

New and used textbooks, as well as digital and rental options are available at the NEC Online Bookstore. Visit https://nec.ecampus.com/ for more information.  Textbooks should be purchased by the first week of classes.

How do I apply for additional assistance?
Parents of FAFSA dependent students may apply for the Federal Parent PLUS Loan program any time after April 15 at studentaid.gov. Information about the PLUS Loan program is available at studentaid.gov/plus-app.

How do I waive the health insurance?
All full-time undergraduate students are required to take action before the fall semester beings to  either Enroll in or Waive the Student Health Insurance.  Those who do not take action by the deadline, are not eligible to waive, or whose waiver is declined will be automatically enrolled in the health insurance, and the premium charge will remain on the student account.  New England College requires all registered full-time students to have health insurance which provides in-network coverage in the Henniker, NH College area (must not be out-of-state Medicaid or an out-of-state HMO), it must be based in the United States and compliant with all Federal PPACA guidelines.

What is the health insurance waiver deadline?
The insurance waiver must be completed prior to the start of the semester at crossagency.com/nec.  It opens on June 15 of each year.  International students are not eligible to waive coverage.

Our Parent PLUS Loan was denied. Do we have other options?
Yes! The parent may add an endorser (co-signer) to a Parent PLUS loan application at studentloans.gov or they may appeal a denial by calling 1-800-557-7394.

Is my New England College Scholarship renewable?
Yes! You can receive your NEC merit scholarship for all four years, provided you maintain the requirements for satisfactory academic progress and continue to be enrolled full-time. (The complete SAP policy is available in the College catalog.)

How can we protect our investment?
We recommend enrolling in The GradGuard Student Protection Plan. This tuition refund insurance program provides a 100% refund for a medical withdrawal, emergency roadside assistance, cell phone damage protection and other benefits. Information about enrolling in the program will be sent with your tuition invoice in June.

We still have many questions/concerns about financial aid. Who can help us?
Please reach out to the Student Financial Services Office. Our staff is here to help you navigate this important investment. We are happy to meet in person, or speak via phone or email so that you get all of your questions answered. You can reach us at 603.428.2226 or sfs@nec.edu.