White Mountains Community College: Financial Aid

Loans at White Mountains Community College

Note: For those interested in Stafford and Alternative Loan opportunities, it is necessary to read the Code of Conduct document (PDF 44 KB) related to these financing opportunities.

Federal Perkins Loan

The Federal Perkins Loan program provides funding for the neediest students. This loan program carries a 5 percent interest rate. Students are generally awarded $200-1500 per year with repayment beginning nine months after leaving college.

Federal Stafford Loan (Subsidized)

The Federal Subsidized Stafford Loan program is subsidized by the federal government. Freshman-level students with fewer than 32 credits may borrow up to $3500 per year at a fixed rate of interest (currently 5.6%), with repayment beginning six months after leaving college or if enrolled for less than six credits. Senior-level students with more than 31 credits may borrow up to $4500. First-time borrowers must do entrance counseling at mappingyourfuture.org

Federal Unsubsidized Stafford Loan

Depending on the Cost of Attendance less your Expected Family Contribution, this loan program could replace the base borrowing levels listed in the Subsidized Loan description. This loan is similar to the subsidized Stafford loan except that the student is liable for the interest while in school. Freshman and Senior dependent students may borrow up to $2000 per year at a fixed interest rate of 6.8%.. Independent students may borrow up to $4000 in addition to the above subsidized amounts if needed to meet educational costs. First-time borrowers must do entrance counseling at mappingyourfuture.org

Federal Parent Loans for Undergraduate Students (PLUS)

Parent Loans for Undergraduate Students are meant to provide additional funds for educational expenses. These loans are made to parents of undergraduate, dependent students. Parents of dependent undergraduates may borrow up to a student's cost of attendance less estimated financial assistance. The interest rate for these loans is fixed at 8.5%. Pre-approval applications are required. Go to www.ccsnh.edu/links.html

Alternative Loans for Parents and Students

Alternative loans are designed to help you fill the gap between what your financial aid award, your federal loans and your total education costs will be. Interest rates, application requirements, fee and incentives will vary from lender to lender. For more information, go to www.ccsnh.edu/links.html

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