Financial Aid Assistance
Student Financial Services
Northeastern University is eager to assist students in developing a plan for financing a Northeastern education. Through a variety of options—federal financial aid, Northeastern’s monthly payment plan, supplemental loans, and your own resources—a plan can be designed that will make your education costs affordable. Visit the Office of Student Financial Services on the web or call 617.373.5899 for additional information.
Federal Financial Aid
For many students, financial aid is a major element in making Northeastern University affordable. The Office of Student Financial Services is committed to working with you to identify federal financial aid options that can help make a Northeastern education affordable. To take advantage of federal financial aid programs, students must submit the Free Application for Federal Student Aid (FAFSA) form. Meeting priority filing dates will allow the review of your eligibility for all available financial aid programs. The priority deadline for graduate students is March 1. For information regarding your financial aid application, visit the myNEU web portal, click on the "Self-Service" tab, and select “My Financial Aid Status.”
Students in the graduate colleges must meet the following criteria to be eligible for federal financial aid:
- Be enrolled in at least 6 credits per term for federal financial aid, unless you are on a co-op, clinical rotation, or residency or are enrolled in a full-time or part-time stand-alone course listed on the Office of the Registrar's website
- Be citizens or eligible noncitizens of the United States
- Be matriculated in a degree-granting program
- Have received high school diploma or GED
- Be registered with Selective Service if required
- Not be convicted of a drug-related crime in the last year
- Not be in default from previous student loans
- Maintain satisfactory academic progress
How to Apply
File the FAFSA by March 1 in order to be considered for all available federal aid. Northeastern’s FAFSA school code is 002199.
You will need your Department of Education PIN to electronically sign your FAFSA online. If you do not have one or have forgotten your PIN, go to the Federal Student Aid webpage to obtain one before starting the FAFSA online.
New students are awarded on an ongoing basis throughout the spring after we have been notified that they have been accepted into their program.
Returning students who have met the March 1 priority filing deadline are awarded throughout the summer.
Typical Graduate Financial Aid Award
Students who file the FAFSA will be eligible to receive up to $20,500 in a Federal Unsubsidized Stafford Loan, assuming that all eligibility requirements have been met.
For more information about Stafford loans, visit the Student Financial Services webpage.
Graduate Assistantships and Scholarships
These positions and awards are offered directly by the individual graduate schools or academic departments. Students seeking such assistance should contact their graduate school for eligibility criteria.
To review a description of available graduate assistantships and scholarships, visit the Student Financial Services webpage.
Health Professions Student Loans and Nursing Student Loans
These federal loan programs carry a 5 percent interest rate during repayment. You must demonstrate financial need and meet Northeastern’s priority filing date for consideration, as funds are limited. Northeastern serves as the lender, and the loan is made with government funds. Repayment is made to Northeastern. For nursing loans, there is a nine-month grace period prior to repayment following graduation, withdrawal, or a drop below half-time status. The grace period is twelve months for Health Professions Student Loans. Repayment on the loan is for a period of up to ten years with a minimum forty dollar monthly payment. The loan may be prepaid at any time without penalty.
To be eligible for the Health Professions Loan Program, applicants must be enrolled full-time in the School of Pharmacy in the Bouvé College of Health Sciences. To be eligible for the Federal Nursing Student Loan, applicants must be enrolled full-time in the School of Nursing in the Bouvé College of Health Sciences.
Physician Assistant Loan
The Physician Assistant Loan is awarded to full-time students in the graduate Physician Assistant program who demonstrate financial need after filing the FAFSA. The interest rate is fixed at 7 percent. Northeastern University is the lender, and repayment is made directly to Northeastern. The loan amounts range from $1,000 to $3,000, depending upon the student’s financial need. Repayment begins one month after the student ceases to be enrolled full-time at Northeastern University.
Federal Direct Graduate PLUS Loan
Unlike Federal Direct Stafford Loans, the Federal Direct Graduate PLUS Loan requires credit approval by the direct loan servicer. Application requests are submitted to Student Financial Services. Students have up to 25 years to repay the grad PLUS loan. The grad PLUS loan can be consolidated with federal Stafford and Perkins loans upon graduation.
Grad PLUS loans do not have a grace period. Repayment begins after a student is no longer enrolled at least half-time. Students who drop below half-time status and then reenroll above half-time status will need to request their loans be deferred again through their assigned direct loan servicer.
Graduate students with myNEU access can apply for a graduate PLUS loan through the student portal by clicking on the “Federal Graduate PLUS Loan Application” link under the "Self-Services" tab. Students who do not have portal access or have trouble applying via the portal should download, print, and complete the paper application that can be found at Student Financial Services.
Supplemental Student Loans
There are a number of attractive educational loan programs available to assist students in covering their expenses over and above any federal financial aid that may be awarded to them from Student Financial Services. Most private lenders have credit and income requireshy;ments that must be met before being approved for these programs. Additional information regarding private loans is available at Student Financial Services. Student Financial Services recommends to students that, when researching the loan and lender that best meets their needs, they make sure they take into conshy;sideration the interest rate, origination, disbursement, or repayment fees and the quality of customer service.
General Financial Policies and Procedures
Financial Aid Policies
Student Financial Services reserves the right to adjust a student’s initial offer of assistance based upon information brought to the office’s attention subsequent to extension of the offer, including things such as outside scholarships or revised family financial data.
Appeal/Change in Circumstances
If the student feels that the aid process does not accurately reflect his or her situation, or if family circumstances change during the year, the student should notify his or her graduate student financial services counselor for further evaluation. We may request additional documentation from you that might indicate a change in financial circumstances.
Change in Enrollment Status
Students must notify Student Financial Services about any change in planned period of enrollment, whether due to withdrawal from a class, a leave of absence, a change in co-op or academic division, or withdrawal from the university. Students should be aware that any change in enrollment status may result in a change in federal or institutional aid eligibility. It is the student’s responsibility to notify Student Financial Services about any change in enrollment status and to ensure understanding of the ramifications of such changes. It is highly recommended that whenever possible, students discuss the impact of such changes with their financial aid counselor before making them.
Outside Sources of Aid
Students must notify Student Financial Services of any aid received from outside sources, such as scholarships. Receipt of outside sources of financial aid may require that financial aid offered by Northeastern needs to be adjusted.
Students must reapply for financial aid each year by filing the FAFSA. To receive priority consideration for aid, the federal processor must receive the FAFSA by March 1. File the FAFSA online.
Students should not wait to file an income tax return before completing the FAFSA but use estimated information.
Satisfactory Academic Progress
To continue receiving financial aid, graduate students need to maintain the academic requirements for satisfactory progress set forth by their college. Refer to the Student Financial Services website for more information about how satisfactory progress affects financial aid.
If a student is selected for verification, the Student Financial Services office is required to collect tax returns and other financial documents to verify the information provided on the FAFSA. Aid cannot be disbursed until this process is completed.
Return of Title IV Funds
Northeastern University is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60 percent of a term. Recalculation is based on the percentage of earned aid using the Federal Return of Title IV funds formula. Federal regulations require students to obtain at least one A, B, C, D, or S in at least one course for the term; students who receive all unsuccessful grades for a term (F, NE, W, I, U) may be considered unofficially withdrawn from the term and subject to an aid recalculation, including the possible loss of financial aid for that term.