Information for Accepted Undergraduate Day Students
- How can I stay connected to Northeastern's Student Financial Services Office?
If you want to stay connected and to know more about your financial aid, scholarships and loans, receive updates and reminders about your bills and deadlines, ask questions, and engage in conversation with our office – like us on Facebook, follow us on Twitter, and read our Blog!
- How do I view my award?
- What is the Northeastern University Financial Aid Disclosure Statement?
The Northeastern University Financial Aid Disclosure Statement is based on the standardized shopping sheet developed by the U.S. Department of Education to help families consistently compare the estimated costs of colleges and the types and amounts of aid available. Northeastern University is proud to partner with the U.S. Department of Education and the Consumer Financial Protection Bureau to provide prospective undergraduate students access to the Financial Aid Disclosure Statement beginning with the 2013-2014 academic year. To learn more about the Disclosure Statement, please click here.
- How do I calculate my net cost?
List your estimated billed costs for tuition, fees, room and board, then subtract your financial aid award (Northeastern scholarships, Northeastern grants, federal and state grants, federal student loans, but not federal work-study award). The result is your estimated amount due to Northeastern for the academic year. You should also be familiar with indirect costs, such as books, supplies, travel and personal expenses. To make this calculation easier, please use our Annual Cost Calculator.
- Why don’t I have a financial aid award?
If you did not receive your financial aid award, the reason could be that we need additional documentation to complete your file. You are able to check the status of your documents under the Self-Service tab of myNEU. Click on "My Financial Aid Status" in the Financial Services box. Documents that are received and/or missing will be shown under the "Your Documents" tab.
- Can admissions re-read my application to increase my merit award if additional or updated information is available for my file?
Northeastern University’s Admission Office reads each student’s admission file extensively and takes all aspects of a student’s application into account when determining acceptance. Merit awards for all students are evaluated based on each student’s standing within the incoming applicant pool. Once commitments are made to students, we are unable to adjust award amounts.
- How can I get more financial aid?
Your Offer of Financial Assistance represents the best financial aid package Northeastern can offer to you as an admitted student. While Student Financial Services staff would be happy to review your Offer of Financial Assistance with you to answer any questions you may have, award decisions can’t be negotiated.
If you believe that we do not have the most accurate financial information (major errors on FAFSA/Profile) or you have experienced a change in financial circumstances since filing your FAFSA (loss of job, excessive medical expenses, etc) please let us know. Once we have information about this change, we can let you know the process for filing an official appeal.
- Why does your financial aid award differ from another school’s?
When comparing financial aid awards you will want to examine not only the total award amount, but also the net cost of attendance for each school after financial aid. Make sure to differentiate between grant aid (that does not have to be repaid) and loans. Some financial aid awards also include a parent loan; Northeastern aid packages do not. Costs should also be compared based on the educational experiences and outcomes you can expect to receive from each school.
- What if my parents lose their jobs?
We welcome the opportunity to discuss a substantial change in your family’s status since filing the FAFSA and the CSS PROFILE. Such circumstances include separation/divorce, loss of income, high medical and/or dental expenses (not covered by insurance), or a catastrophic expense. If you or your family experiences a significant financial change, you must submit a Change in Circumstances Form (available on our website under “Forms”) and documentation of the situation. This documentation should be addressed to your financial aid counselor.
- If I use estimates on the CSS Profile and FAFSA, how does that information get updated once I file my 2014 federal Income Tax Return?
Once you have completed your tax returns, you can update your FAFSA information online at www.fafsa.gov. When you are submitting your correction, you can also opt into using IRS Data Retrieval tool to make the process easier for you and your family. For corrections to the CSS PROFILE, you should print out the form, update it, and send the corrections directly to our office.
- I was accepted into the N.U.in Program. Am I eligible for financial aid?
During the fall semester of the N.U.in Program, students who file for financial aid are considered for need-based Northeastern funding only. Grants, loans and work awards from federal and state sources can be used beginning with the spring semester for students who qualify. All supplemental loans, including the Federal Direct Parent PLUS Loan, are available to students and parents beginning with the spring semester as well.
- What is Federal Work-Study?
Federal Work-Study is financial assistance in the form of on-campus (or approved off-campus) part-time student employment. Students are awarded based on financial need, timeliness of application, and availability of funds.
- How many hours are students expected to work per week?
Students do not have a set minimum number of hours to work. Work-Study supervisors are very flexible and work within students’ schedules. Students cannot work more than 20 hours per week.
- Do students have to accept Federal Work Study if they do not want it?
No. Students are not required to accept this offer.
- Where can I find additional information about Federal Work Study?
- What is a Federal Perkins Loan? A Health Professions Loan? A Nursing Student Loan?
These loans are low-interest loans (currently 5% fixed interest) awarded to students with financial need. Timeliness of applications and availability of funds are factors in awarding these loans. Repayment begins after graduation or less than half-time enrollment. All students enrolled at least half-time can be considered for a Federal Perkins Loan. Pharmacy majors are considered for Health Professions Loans and Nursing majors are considered for a Nursing Student Loan.
- When will we receive the Promissory Notes for Perkins, Health Professions, and Nursing Loans?
If you were awarded a Perkins, Health Professions, or Nursing Loans, the required documentation will be mailed to your during the summer.
- How do I complete the paperwork for the Stafford Loan?
In order for first-time borrowers to receive Stafford Loan funds, the online Federal Entrance Interview and Stafford Loan Master Promissory Note (MPN) must be completed. The Federal Entrance Counseling and the Stafford Loan MPN can be completed at www.studentloans.gov.We request that families do not complete the information necessary for the Stafford loan until after May 1st.
- What if I don’t want a portion of my financial aid award?
Should you decide to decline any part of your award, you should print a copy of your award from the Application Status Check, indicate the aid you would like cancelled, then sign and return the letter to our office.