Despite some troubling reports in the media, students will be able to borrow federal student loans and receive financial aid this fall. The federal government and student loan companies have assured colleges that they will not allow recent developments in the credit markets to prevent students from getting loans. Below are updates, and myths and facts regarding 2008-09 student loan availabilty. Check our website regularly for up-to-date information regarding the changing student loan industry.

The Latest...

• New! 4/17/08 - Please refer to this page for the most current lender information.
• 4/11/08 - NH Higher Education Loan Corporation (NHHELCO), part of The NHHEAF Network, will continue to fund its federal Stafford and PLUS loan programs.
• 3/27/08 - Student and parent borrowers can consolidate (combine) multiple federal student loans with various repayment schedules into one loan, making a single monthly payment. More...
• 3/14/08 - Please do not submit Parent PLUS and Alternative Loan applications until June 6, 2008. Loan applications submitted prior to June 6, 2008, will not be certified.
• 3/7/08 - The New Hampshire Higher Education Assistance Foundation (NHHEAF) will no longer be offering LEAF alternative loans.

Myths and Facts

MYTH:	Financial aid will not be available to students this fall because troubles in the real estate lending industry have affected student aid.
FACT:	Financial aid will be available to students. The credit crunch caused by troubles in the real estate lending industry has no effect on most financial aid including (but not limited to) Pell Grants, Federal Work-Study, and education tax benefits.
MYTH:	Students won't be able to get federal student loans due to the credit crunch.
FACT:	Students should have no problem getting federal student loans.
MYTH:	Students won't be able to get private or alternative student loans due to the credit crunch.
FACT:	Only a few students (some estimate as few as 5%) will have trouble getting private or alternative education loans.
MYTH:	Students with too much money don't qualify for federal student loans.
FACT:	Students can borrow federal Stafford Loans no matter how much money they have. Needier students are eligible for additional benefits.
MYTH:	Students with bad or no credit can't borrow student loans.
FACT:	Students can borrow federal loans even if they have bad credit or no credit.
MYTH:	If school costs more than federal loans provide, students have to borrow private loans.
FACT:	Federal, state and local governments offer a wide range of financial aid for students. Professionals in the financial aid office can recommend many options including (but not limited to) Federal Perkins and PLUS Loans. Private loans should only be used as a last resort.

If you have any other questions or concerns about financial aid or student loans, and for the most accurate and up-to-date information, feel free to contact us.

Provided courtesy of National Association of Student Financial Aid Administrators.