May 2025
College and Career Planning Guidance by Granite Edvance: May Edition
May is an exciting month for many high school seniors as they formally commit to their chosen college and start making plans for the fall. Often those plans include shopping for a private student loan to bridge the gap between a school’s financial aid offer and what families can actually pay. With summer approaching, high school juniors may be starting to think seriously about their post high-school plans.
4 questions to ask when shopping for student loans
If you need more money for college after making a budget that includes income, savings, federal aid, and scholarships, you may be considering a private student loan. Here are four questions to ask when shopping for a private student loan.
1. Are there origination or repayment fees?
2. Is the rate fixed or variable? A fixed rate doesn’t change. A variable rate changes over time, meaning your loan payment can change.
3. When does repayment begin and are there term options? Are in-school payments required?
4. Are there interest rate reductions for automatic payment or having an existing account?
Make an impression with your top-pick colleges
High school juniors and families: The summer break is an ideal time to get out and see some campuses to help narrow your college list before the fall application season begins! Visiting colleges is also a great way to demonstrate your interest in a particular institution. Many admissions offices track visits and other interactions with their prospective applicants. A college visit can subtly assist in showing a college that if they were to accept you, you have a higher likelihood of enrolling. To further highlight your interest, schedule a meeting with an admissions counselor during the visit if possible, and be prepared to ask questions and speak about why you are considering their college.
Thank you,
From your partnership team at Granite Edvance
Rich Neilsen, Lending Products & Partnerships Manager
Carol Cray, Community Outreach Manager
John Flanders, Chief Strategy & Lending Officer
Granite Edvance Corporation, located in Concord, New Hampshire is the nonprofit higher education student loan product partner of New Hampshire Postal Credit Union. In partnering with Granite Edvance, NHPCU is able to connect customers to responsible student loan products designed to meet their unique needs. In addition to the student loan products featured below, Granite Edvance provides college and career planning resources to New Hampshire students and families.
Granite Edvance Student Loan Program:
This loan program is intended for undergraduate and graduate students currently enrolled in school and seeking additional funding after exhausting all other financial aid resources. The student acts as the primary borrower but may require a cosigner to meet eligibility requirements. Eligible borrowers must be a NH resident or enrolled at least half-time at a NH-based Title IV degree-granting institution.
Features:
Fixed interest rates
Deferred, interest-only, or immediate repayment
Interest rate discount for enrolling in automatic debit
No upfront fees or prepayment penalties
Cosigner Release available
Loan Minimum: $2,001
Loan Maximum: Up to the Cost of Attendance minus any financial aid accepted
Loan origination support from local student loan experts
Quick and easy online application process – including finding your rate in under 3 minutes!
Click here for more information: www.graniteedvance.org/nhpcu/private
Private student loans are intended to supplement, not replace, federal and institutional financial aid options. Students are encouraged to file the Free Application for Federal Student Aid (FAFSA) and to consult their post-secondary institution’s financial aid office to discuss all available options.
EdvestinU Refinance Loan Program:
This loan program provides existing student loan borrowers the option of combining multiple student loans into a new loan with the potential of reducing your interest rate(s) and/or lowering your monthly payment(s). Eligible loans include federal and private student loans used for attendance at a Title IV degree-granting institution.
Features:
Fixed rates
Interest rate discount for enrolling in automatic debit
No upfront fees or prepayment penalties
Multiple repayment terms available
Cosigner Release available
Loan minimum: $7,500
Loan maximum: $200,000
Ability to refinance Federal Parent PLUS loans
Loan origination support from local student loan experts
Quick and easy online application process – including finding your rate in under 3 minutes!
Click here for more information: www.edvestinu.com/nhpcu/refi
Refinancing a federal loan means forfeiting the benefits associated with federal loans. We encourage you to speak with your federal loan servicer and research the options before choosing to refinance a federal student loan.
For more information or to schedule an in-office appointment to discuss the programs, please contact Granite Edvance’s friendly and knowledgeable loan counseling team.
855-887-5430
loansupport@graniteedvance.org
3 Barrell Court
Concord, NH 03301
Granite Edvance Student Loan and EdvestinU are loan products of Granite Edvance Corporation and may be funded by Granite Edvance Corporation NMLS ID# 1527348, www.nmlsconsumeraccess.org or Bank of Lake Mills, member FDIC. Subject to credit approval and underwriting guidelines. Bank of Lake Mills does not have an ownership interest in Granite Edvance. Neither Granite Edvance nor Bank of Lake Mills is affiliated with the school you attended or are attending.