Student Loans for Northeastern Students

About Northeastern

Northeastern is a pretty unique place. It’s got an urban campus in the middle of Boston, and is neighbors with at least a half dozen other colleges, in addition to some of Boston’s premier museums and cultural hot spots. Translation: at Northeastern, Boston is your campus, and there’s always something going on. Academically, Northeastern offers a unique cooperative education (co-op) program that gives students professional experience in an industry of their choice while they’re still in college. All this awesomeness comes at a price, though: estimated total costs for Northeastern during 2012 academic year total just over $54,000.

Okay, take a deep breath. You don’t have to pay that whole, huge $54,000 figure. In fact, few students at Northeastern actually pay that total, thanks to a strong Northeastern financial aid program. Roughly 89% of all students at NU receive financial aid, which is great.

Budgeting and Northeastern Financial Aid

One of the coolest things about Northeastern is the school’s location you’re right in the heart of Boston. You’d be hard pressed to find a better college town, between the atmosphere of the city and the fact that there are about 50 other colleges and a few hundred thousand college students in the area. We promise you’ll love Boston and find tons of stuff to do – we just want you to be careful about how you spend your money. Boston is pricey even as cities go, so if you’re receiving Northeastern financial aid, remember to keep a close eye on your budget and just be smart about how you spend your money.

To apply for financial aid from Northeastern, you’ll need to fill out two forms (that’s not so bad, really). The first is the standard form that you have to submit everywhere, and yes, you guessed it, that’s the Free Application for Federal Student Aid, or FAFSA. Many private colleges and universities also require the CSS/PROFILE, and Northeastern is one of them. The whole two-form thing allows the school to get a more accurate understanding of your financial standing when you apply for aid.

Northeastern Student Loans

Congratulations! Let’s say you’ve gotten into Northeastern and received a financial aid award. Awesome. Now, the odds say you’ll fall into the majority (about 61%) of Northeastern students who need a bit more funding to supplement their aid package. In this case, you should first pursue federal student aid, most likely in the form of a federal student loan. In most cases, you’ll be able to cover college costs after the additional help of a federal loan. However, if the extra federal money just doesn’t quite cover it all, and you can’t borrow any more through the federal program, you have one last option: take out a private student loan. Private student loans can be great final sources of funding, as long as you find the loan that’s best for you financially. That can be tough, we know, which is why we made our Student Loan Comparison Tool. You can use it to search, compare, and even apply for a private student loan, provided you find one that fits your financial profile.

 

Frequently Asked Questions

Q:What is the application procedure for Northeastern Financial Aid?

A:The application procedure for Northeastern financial aid is pretty straight forward. Before applying for financial aid, students are encouraged to estimate their cost of attendance. This estimate plays a crucial role when applying for financial aid. All students are required to fill out the FAFSA (Free Application for Federal Student Aid) form before the deadline date. In addition to FAFSA, first time and transferring students are required to submit the College Scholarship Services PROFILE application form. Students can access these forms by visiting the Northeastern financial aid webpage.

Q:Are there any merit-based scholarships available at the Northeastern University financial aid office?

A:Yes, the Northeastern University financial aid office offers a number of merit-based scholarship awards. These awards are specifically for students who have shown exceptional achievement in academics. Undergraduate students can apply for Northeastern University Scholar Program, Northeastern University’s National Merit and National Achievement Scholarships, Northeastern University Hispanic Scholarships and Merit Scholarships. The financial aid office at Northeastern University also offers educational opportunity scholarships such as the Torch Scholars that are specifically for students from low income backgrounds.

Q:Northeastern University offers a number of different scholarships and grants. Can you tell me more about them?

A:Northeastern University offers a number of grants and scholarships via their financial aid program. Some of the options include merit-based scholarships, and educational opportunity scholarships.

Pay for Northeastern University*

Total Avg. Cost $52,252
Tuition $37,142
Room & Board $12,310
Financial Aid Information
Students Receiving Fin Aid 85%
Typical Grant Amounts
State/Local $1,825
Federal $7,506
%Receiving Loans 58%
Avg. Other Stud. Loans $11,470
%Receiving Other Loans 18%

Get into Northeastern University

Admission Rate 38%
Total Enrollment 29,519
Men 50%
Women 50%
Graduation Rate 77%
Application Fee $70

Contact Northeastern University

Address
360 Huntington Ave
Boston, MA 02115-5005(617) 373-2000
Financial Aid Office URL
http://www.northeastern.edu/financialaid/
Admissions Office URL
http://www.northeastern.edu/neuhome/admissions/index.html

*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics

 

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