Financing Your Education - There is a Way
We believe that money should not be a barrier to your pursuit of an excellent college education. There are many student financial aid resources out there, and we're here to help you take advantage of them. Eighty-five percent of our students receive some form of financial assistance. Our Financial Aid Office is here to help you create a financial plan that works for you.
Getting Started on a Financial Plan
The first step is to fill out the Free Application for Federal Student Aid (FAFSA). Even if you're still deciding where you want to study, we urge you to go ahead and fill out the Free Application for Federal Student Aid form including the school ID number for Northeastern, 001693. The deadlines for scholarships are often earlier than deadlines for admission, so it's good to start the application process early. Read more about applying for FAFSA.
Four Types of Aid
Northeastern offers four basic types of financial aid you can seek to help fund your education. With the help of the Financial Aid Office, you can find many options within each category. Eligibility and conditions differ depending on the type of aid.
Need-based grants and scholarships. Free money; you do not need to pay it back. Based on your FAFSA results.
Merit-based grants and scholarships. Free money; you do not need to pay it back. Based on grades, tests and other criteria.
Student employment. Compensation for work, while enrolled, that you can use to help pay for your education. Sources include the Federal Work-Study Program and local opportunities.
Loans. Not free money; loans will need to be paid back, with interest. Federal need-based student loans with relatively good terms are available.
Nest Housing Checklist and Timeline
Oct. 1-Feb. 28: Priority FAFSA Completion Deadline - Submit your 2020-2021 FREE Application for Federal Student Aid using the IRS Data Retrieval at www.fafsa.gov. Housing residents should also complete the online institutional scholarship application once the FAFSA is completed.
March 1: Lease renewal
April 1: New Student Orientation Registration and Placement Test Reservation - New students register for classes during New Student Orientation. Students must be registered and a placement test must be taken in order for Financial Aid to be 'authorized' to pay for tuition, fees and student housing costs. Student housing requires undergraduate students to be registered full-time, maintaining no fewer than 12 credit hours during fall and spring semesters. Graduate students must maintain at least 9 credit hours. Always consult with Northeastern's Financial Aid Office prior to adding or dropping classes to ensure your housing costs are covered.
June 1: Considering Loan Options - Federal and state grants along with institutional and private scholarships will not cover all of your tuition, fees, books and housing costs. To ensure sufficient funding, undergraduate students (with their families) will need to consider Federal Direct Loan options, including the Parent Loan for Undergraduate Students (PLUS). Both the online entrance counseling and the electronic Master Promissory Note (eMPN) are required using www.studentloans.gov. In addition, an actual request form is required notifying the University of the amount the student and/or parent wishes to borrow. The request form is available in the Financial Aid Requirements channel in NEIUport and in Financial Aid Forms and Documents.
July 1: Housing Application Fee and Deposit Required - Regardless of your financial aid status, a non-refundable $50 housing application fee along with a $250 deposit are required by this date. Financial aid recipients must complete the Nest Deferral Agreement in order to defer full payment each semester, otherwise full payment for monthly housing cost is required to be paid according to the housing lease. Financial aid recipients who complete the Nest Deferral Agreement must remit payment in full for the fall semester on Oct. 15 and for the spring semester on March 15. Copies of your Housing Lease and Deferral Agreement must be provided to Northeastern's Financial Aid Office.
Aug. 1: Fall Financial Aid Recipient First Payment Plan Deadline: $750. $650 per month follows through December.
Jan. 2: Spring Financial Aid Recipient First Payment Plan Deadline: $750. $650 per month follows through December.
Many Sources, Many Recipients
The different types of student financial aid can come from various sources–federal and state government as well as institutional and private sources. You can review comprehensive lists of available scholarships, with eligibility criteria, deadlines, and helpful tips for applying.
If you are a veteran there are resources for veterans. Are you planning to become a teacher? There are resources for education majors. We can help you find the sources that meet your unique situation.
The Financial Aid Office offers ongoing workshops on financial aid and provides support for you to do your own research on grants and scholarships. We can also answer questions by phone at (773) 442-5016 and email at email@example.com.