General Financial Aid Policies and Procedures
Financial Aid Policies
The Office of 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.
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 an 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for the term; students who receive all unsuccessful grades for a term (F, NE, W, I, U) may be considered unofficially withdrawn from the term and subject to an aid recalculation, including the possible loss of financial aid for that term.
Satisfactory Academic Progress (SAP)
To continue receiving financial aid, undergraduate students must have a 2.000 GPA and have earned academic credit in 67 percent of the courses attempted. Satisfactory academic progress will be evaluated once per academic year. Refer to the Student Financial Services website for more information about how satisfactory progress affects financial aid.
Change in Enrollment Status
Students must notify the Office of Student Financial Services about any changes to their enrollment, whether due to withdrawal from a class, a leave of absence, a change in course work, or withdrawal from the university. Students should be aware that any change in enrollment status may result in a loss of all or part of their federal and/or institutional aid eligibility. It is the student’s responsibility to notify the Office of Student Financial Services about any change in enrollment status and understand the ramifications of such changes.
It is highly recommended that whenever possible, students discuss the impact of such changes with their Office of Student Financial Services counselor before making them.
Some FAFSA applications will be flagged for “unusual enrollment history” by the U.S Department of Education as a result of the student having received Federal Pell grants or Stafford loans at multiple institutions in recent years. These files will need to be reviewed by financial aid counselors; if necessary, additional documentation may be required. We will not be able to award students with federal financial aid assistance until the unusual enrollment history has been resolved.
Ability to Benefit
In general, students who have received a high school diploma, GED, associate degree or higher may be eligible for federal financial aid assistance. As a part of the application process, students will have to document receipt of one of these credentials in order to be admitted into the College of Professional Studies. If appropriate documentation was not provided during the admission process, our office will request proof of high school diploma, GED, or college degree. Aid cannot be disbursed until this process is completed.
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 Student Financial Services counselor for further evaluation. We may request additional documentation from you that might indicate a change in financial circumstances.
Outside Sources of Aid
Students must notify the Office of 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 University be adjusted.
Students must reapply for financial aid each year by filing the FAFSA. The FAFSA can be completed online.
Students should not wait to file an income tax return before completing the FAFSA. Estimated information can be used and updates can be done at a later date.
If a student is selected for verification, the Office of Student Financial Services may be required to collect tax transcripts and other financial documents to verify the information provided on the FAFSA. We will not be able to award students with federal financial aid assistance until this process has been completed.