Funding 
Low Interest Loan Program: Frequently Asked Questions
Before you take out a loan consider looking for used or even better, refurbished equipment. Often times someone else has for sale what you are looking for! Check out the Re-use & Classifieds section of this website for details.
We also highly recommend you try out a piece of equipment of software before taking out a loan. Check out the Loan section of this website for more information.
- Who qualifies for the loan program?
Generally, any New Hampshire resident over the age of 18 or someone borrowing money for a NH resident can apply for a loan. You must use the loan proceeds for assistive technology (AT). The bank will also want to know if you have enough income to make monthly payments and if you have a decent credit history. - What is the interest rate on the loans?
The interest rate is pegged to the current passbook savings interest rate. It usually hovers around 1%. So this is a very low interest loan. - How much can I borrow?
Loan amounts must be equal to or greater than $1,000 and cannot exceed (be more than) $10,000. Remember though, the more you borrow the larger your monthly payment. So borrow only what you need. (If you can afford it and you need more than the available $10,000, you can take out more than one loan at a time). - What is the maximum length of a loan?
Loans can run up to five years (60 months), the longer the tem of the loan, the smaller the monthly payment. Here’s an example: A $10,000 loan at 1.5% with a three-year term equals monthly payments of $284.34. The same loan stretched over five years requires monthly payments of only $173.19. - Do I need to provide documentation of a disability to qualify?
No, the loan is available to anyone as long as the money is used for either assistive technology devices or assistive technology services. It is of course in your best interest to document what you intend to do with the money, but you don’t have to document why you want to buy AT. - What qualifies as assistive technology (AT) under the loan program?
The loan program uses a very broad definition of AT. Virtually anything that enables someone to conduct one of life’s functions can potentially be considered AT. - What if I don’t have enough monthly income to make payments?
If your income is very tight already and you are afraid you won’t be able to make payments, we strongly urge you to consider other funding options. We know this can be difficult, but it’s much better than to default on a loan and get into trouble. Also, check into refurbished or used equipment as an inexpensive alternative. - I have a question that wasn’t answered here who can I talk to?
Contact us at assistive.technology@unh.edu or call us at 1-800-238-2048 and we will make every effort to assist you.