Financial Assistance

Print this Page

Northwest University participates in the William D. Ford Federal Direct Loan Program. If a student is enrolled for less than full-time, their cost of attendance will be prorated and loan funds may be reduced. New Students must sign and return one copy of the Northwest University Statement of Conditions for Financial Assistance within 30 days of receipt. Students must maintain satisfactory academic progress as outlined in the Satisfactory Academic Progress Policy for financial aid. This section contains information applicable to student in a Master’s or Doctoral graduate degree program.

Financial Aid Application

Apply for financial aid at Northwest University by submitting:

• an Application for Admission to Northwest University
• a Free Application For Federal Student Aid (FAFSA)

The FAFSA Application is available online at www.fafsa.gov.

Eligibility

To be eligible for federal and/or state financial aid:

• a student must be a U.S. citizen, or a permanent resident of the U.S., or an eligible non-citizen
• a student must not owe an overpayment on any Title IV educational grant or be in default on a Title IV educational loan, and must maintain satisfactory academic progress

Disbursement of Aid

Student financial aid is credited to individual student accounts in equal disbursements by semester. The amount disbursed each semester is indicated on the student’s Award Letter. Most often an award is disbursed in two equal payments, half each semester at the beginning of the semester. For example, a $1000 grant will be disbursed $500 for fall semester and $500 for spring semester. Student financial aid is disbursed after the Add/Drop Period.

Federal Aid

Teacher Education Assistance for College Higher Education Grant (TEACH)

• Eligibility – Accepted into the College of Education
  • Achieved a 3.25 cumulative GPA or score above the 75th percentile on an Admissions Test
  • Completed Agreement to Serve Application (ATS)
  • Attended yearly TEACH Grant Counseling session
• Amount – determined by the Department of Education
  • Renewal - Maintain 3.25 Cumulative GPA
  • ATS Renewal Application
  • Counseling session
• Terms
  • Agree to serve in a high need, low income   school after completion of academic program
  • If student does not meet requirements, grant becomes an Unsubsidized loan

Federal Direct Unsubsidized Loan

• Eligibility – Not need-based.
• Amount – Up to $20,500 per academic year.
• Aggregate Limit – Up to $138,500 (lifetime maximum).
• Renewal – FAFSA Application required annually.
• Terms – After the student graduates, leaves school, or drops below half-time enrollment, they will have a six-month grace period before being required to begin repayment. During this period, the student will receive repayment information from their loan servicer, and will be notified of their first payment due date. Student borrowers are responsible for paying the interest during all periods. 

To receive a Federal Direct Unsubsidized Loan, students must sign the Northwest University Statement of  Conditions for Financial Assistance and return it to Student Financial Services. In addition, first-time borrowers must also complete a Loan Agreement/Master Promissory Note (MPN) and Entrance Counseling online at www.studentloans.gov, which will explain issues, rights, and responsibilities. Federal Direct Loan funds are sent to the university by Electronic Funds Transfer (EFT), and will be credited directly to the student’s account once received. 

Federal Direct Graduate PLUS Loan (Grad PLUS)

• Eligibility – Not need-based. Student must not have an adverse credit history. A co-signer is allowed.
• Amount – Up to the student’s cost of attendance minus any other financial aid received.
• Aggregate Limit – No set lifetime maximum.
• Renewal – FAFSA and PLUS application (including credit-check) required annually.
• Terms – The terms of a Grad PLUS Loan are specified in the required PLUS Loan Agreement/Master Promissory Note (MPN) in accordance with applicable federal laws and regulations. The repayment period for PLUS Loans begins on the date of the final disbursement of the loan, with this first payment being due within 60 days from that date. If the student meets certain requirements, they may be able to receive a deferment or forbearance that would allow them to temporarily postpone making payments. The interest rate is fixed at the time of disbursement. As provided by law, loan fees are charged as a percentage of the loan amount and subtracted proportionately from each PLUS Loan disbursement. 

To apply for a Grad PLUS Loan, students must visit www.studentloans.gov to complete a Direct PLUS Loan Application for Graduate/Professional Students (which includes a credit-check, valid for up to 180 days). In addition, first-time Grad PLUS Loan borrowers must complete the PLUS Loan Agreement/Master Promissory Note (MPN) and Entrance Counseling, which will explain issues, rights, and responsibilities. In order to receive the Grad PLUS Loan, students must also sign the Northwest University Statement of  Conditions for Financial Assistance and return it to Student Financial Services. Grad PLUS Loan funds are sent to the university by Electronic Funds Transfer (EFT), and will be credited directly to the student’s account once received.

Satisfactory Academic Progress (SAP)

in an eligible degree or certificate program in order to receive financial aid. Students enrolled in a graduate program and who receive financial aid are required to meet a minimum 2.0 cumulative GPA for all terms of attendance, including terms when no aid is received.

To remain in satisfactory academic progress, the student is required to maintain cumulative completion of at least 67% of credit hours attempted.

Progress will be reviewed once a year, generally in June.  If less than 67% of the credit hours attempted are completed, or if the cumulative grade point average falls below the required level, the student will be suspended.

The suspension may be appealed in writing to Student Financial Services. If the appeal is approved, the student will be on Financial Aid Probation and has one additional semester to meet the credit completion and GPA expectations.