Student Loans for Northwestern Students
About Northwestern University
Northwestern’s roots can be traced back to the 1850s. Today, the university has matured into one of the nationally recognized institutes of higher education for its premium educational programs at undergrad and master’s level. Northwestern University is known for its 2,500 top notch faculty members that comprise of Tony Award winners and members of esteemed societies like the American Academy of Arts and Sciences.
Northwestern University financial aid can take many forms such as Scholarships and Grants, Student Employment, and Student Loans. The Northwestern University financial aid office at the University evaluates the financial needs of the students and helps them select the most suitable financial aid program accordingly. The U.S. citizens can obtain federally sponsored grants which include Federal Pell grants, Supplemental Education Opportunity grants, Academic Competitive grants and SMART grants. Grants are also provided under state grant programs.
Applying for University Financial Aid
The application process for regular decision, early decision and international students varies considerably. If you come under regular decision, you start by filling your FAFSA, followed by submitting tax materials and other documents required by the college. Once you submit the FAFSA and other materials, your application process will be complete. NU’s Financial Aid Committee determines your financial need and ultimately your Northwestern University financial aid package in accordance with your demonstrated need. You will then receive a financial aid package within a short period of time. All students are required to reapply for financial aid every year.
Northwestern University Student Loans
Like grants, scholarships, are a widely popular financial aid tool as well. More than half of the student population at NU receives institutional scholarships on the basis of their financial needs. Students who demonstrate a financial need are provided with on and off campus working opportunities through the university as well. NU makes higher education increasingly accessible through various student loan programs. Student loan programs supplement the federal aid resources. Students can avail need based federal loans like the Federal Stafford Loans and Perkins Loans to
meet their educational expenses. The student loan office at NU provides students and parents with an institutionally sponsored loan program, the NU Loan Program. Also, the students can obtain private loans from private lenders and agencies such as Sallie Mae or SunTrust, to accomplish their educational goals.
Through our student loan Comparison Tool it is now easier for you to weigh the pros and cons of each option. Try it out before you decide on any sort of student loan.
What are the eligibility requirements of Northwestern University financial aid?
Northwestern University has designed financial assistance programs so that that students from various backgrounds can afford the cost of attendance. All students enrolled in a degree program are eligible for aid. Financial awards are made on the basis of financial need and of a student and the availability of funds at the time of application. Around 50% of students receive assistance from the university.
Pay for Northwestern University*
|Total Avg. Cost||$56,406|
|Room & Board||$11,703|
|Financial Aid Information|
|Students Receiving Fin Aid||54%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$9,613|
|%Receiving Other Loans||6%|
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics