NWHSU logo Financial Aid Procedures


Applying for Federal Financial Aid:

Step 1: The Free Application for Federal Student Aid (FAFSA)

Open your browser and go to www.fafsa.ed.gov. It is free, fast, secure and easy! If you have a PIN, you can electronically sign your FAFSA (if you don’t have a PIN, you may apply for one at www.pin.ed.gov) or print a signature page. Once you have completed your application, you need to submit it along with your signature. Note your confirmation number. The estimated Expected Family Contribution (EFC) will determine what types and amount of aid you will be receiving.

The Northwestern Health Sciences University school code is 012328

Step 2: Entrance Counseling for Stafford only (Mapping Your Future)

Open your browser and go to www.mappingyourfuture.org. It is also free, fast, secure and easy. Loan counseling is particularly important because new students often have little or no experience with repayment and managing debt. For graduate students, particularly a health profession like chiropractic, debt could be burdensome without comprehensive entrance and exit counseling. It is also a federal requirement.

Half-Time Enrollment (definition of half-time enrollment):  If you are less than half-time, you are not eligible for federal loans but may be eligible for other limited resources and you are required to complete Federal Exit Counseling.

Impact of Withdrawal: The Northwestern Health Sciences University Registrar's Withdrawal Form must be completed and issues related to "clearance" include a calculation for Return of Title IV Funds (federal aid assistance), Institutional Refund, a balance owed to the institution, repayment and exit counseling.

Unofficial Withdrawal: If the student does not officially withdraw from classes, and stops attending all classes, a pro-rated portion of the federal aid received, based on the documented last day of attendance, must be returned to the federal aid programs (Return of Title IV Funds calculation).  If the school is unable to document the last day of attendance, then the university will use the mid-point of the trimester as the last day of attendance.

Counseling is sent to Northwestern automatically but note your confirmation numbers.

Step 3: Federal Stafford Loan Master Promissory Note (MPN - A promise to pay; legal document)

In order for student loan funds to be disbursed to you, you must sign a Master Promissory Note. This can be done online by clicking on the links below. Northwestern and lender make the final decision on the amount you are eligible to receive and the amount lent to you. In no event will the amount be greater than the allowable maximum under the regulations governing the program. The Notice of Loan Guarantee and Disclosure Statements specify the final amount. The Notice is mailed to your permanent home address when your loan guarantee is processed. Northwestern Health Sciences University mails out the institutional award notice.

The borrower can choose any Federal Family Education Loan Program (FFELP) lender.

The preferred lender list provides comparative information on borrower benefits offered by listed lenders along with quality service to students, parents, schools, and guarantors and servicers. Should you decide to switch lenders, the financial aid office will be happy to assist you or for any other needs you may have.

Preferred lender list (click here to apply online for Stafford Loan)

Once you have completed the Stafford MPN online and Northwestern has packaged your financial aid, the Stafford loan(s) will be certified and the file sent electronically to the guarantor. Funds are disbursed to Northwestern using federal guidelines.

If you have further questions or concerns, please call (800) 888-4777, press #6 and then #1.

Once you have been accepted by the Office of Admissions and paid a tuition deposit, a financial aid packet is sent to you in a timely manner (see notes below).

Step 4: Institutional Information Sheet

Download the Institutional Information Sheet. Please mail or fax to the Financial Aid office at (952) 887-1386.  

For accuracy and efficiency the Information Sheet must be completed and signed.

Northwestern strongly encourages you to keep your borrowing to a minimum, as an example the average debt of a chiropractic student is around $150,000 (10 years, 8.25 percent, $2,000/month).

Step 5: Federal Graduate PLUS Loan (MPN - A promissory note and legal document)

For those who qualify, this is a new federal loan available for graduate students only. BEFORE APPLYING, please contact the Financial Aid Office for further information and a review of your eligibility.

The borrower can choose any Federal Family Education Loan Program (FFELP) lender.

The preferred lender list provides comparative information on borrower benefits offered by listed lenders along with quality service to students, parents, schools, and guarantors and servicers. Should you decide to switch lenders, the financial aid office will be happy to assist you or for any other needs you may have.

Preferred lender list (click here to apply online for GPLUS Loan)

The Graduate PLUS loan requires a credit check and cost of attendance minus other aid. The interest rate is 8.5 percent, accumulates interest while in school, and can be consolidated.

Step 6: Parent Loan for Dependent Undergraduate Students (PLUS)

At U.S. domestic schools a parent may obtain additional loans for the same dependent student based on the original Master Promissory Note (MPN) for up to 10 years after the date the parent signed it. PLUS certification specifying amount to be borrowed and checks for adverse  credit history and use of endorser.

The borrower can choose any Federal Family Education Loan Program (FFELP) lender.

The preferred lender list provides comparative information on borrower benefits offered by listed lenders along with quality service to students, parents, schools, and guarantors and servicers. Should you decide to switch lenders, the financial aid office will be happy to assist you or for any other needs you may have.

Preferred lender list (click here to apply online for PLUS Loan)

The Parent PLUS loan requires a credit check and cost of attendance minus other aid. The interest rate is 8.5 percent, accumulates interest while in school, and can be consolidated.

Step 7: New Student Orientation (Financial Aid Workshop)

"A Welcome to Northwestern" orientation is featured during the first week of classes. This is for all the programs offered at Northwestern and includes a group financial aid workshop. A person(s) knowledgeable about Federal Student Financial Aid (SFA) programs is present.

Attendance is required at all new student orientations before excess funds (i.e. living expenses) may be picked up.

Step 8: Federal Perkins Loan Master Promissory Note (MPN – A promise to pay; legal document) and Perkins Entrance Counseling

The Federal Perkins Loan Program are low-interest (currently 5 percent), long-term loans made through school financial aid offices to help needy undergraduate and graduate students pay for post-secondary education. The Perkins MPN, like the Stafford MPN, is signed only once while you are enrolled at Northwestern.

Once your financial aid file has been reviewed and the financial aid office has determined that you are eligible for Perkins, you will be completing a Perkins Mater Promissory Note. If eligible, ECSI will notify you to complete the on-line Perkins Master Promissory Note and Entrance Counseling.

Please call Andy Hoppin toll free at (800) 888-4777, ext 387 for any questions or concerns.

If eligible and using federal guidelines, the Financial Services Office determines the amount you can receive.

Step 9: Excess Funds (Living Expenses, Books, Supplies, Other)

Pick up checks (excess funds after tuition and fees have been paid) in room 113, Human Resources Office.

Plan ahead, as checks are issued using federal and institutional policies and procedures.

Click here for the Monthly Money Tracker.

Typical Aid Package

  • Northwestern College of Chiropractic: Federal graduate/health professional limits.

    Typical aid package

  • Minnesota College of Acupuncture and Oriental Medicine: Federal graduate limits.

    Typical aid package

  • School of Massage Therapy: First-year, first-time, undergraduate limits and State of Minnesota resources.
  • Typical aid package

  • Undergraduate Studies Program (Pre-Professional) – Undergraduate Federal Limits

    • To be eligible for federal financial aid, a student must be seeking a degree at NWHSU in either the Doctor of Chiropractic program (with or without the dual-degree in Bachelor of Science in Human Biology) or Master of Acupuncture/Oriental Medicine program. The undergraduate course work and credits must be required to be fully accepted into either program for federal student loans to be processed, and final approval is required by the Admissions and Financial Aid Offices.
    • Official College Transcripts are required by the Financial Aid Office to process federal financial aid and determine the grade level of the student.  Official college transcripts can be submitted to the Admissions Office to accompany an application into one of the graduate level programs; otherwise they will need to be sent directly to the Financial Aid Office.
    • Consortium Agreements may be needed if a student is taking courses at another school, and those courses/credits are required to be fully accepted into the Doctor of Chiropractic program or Master of Acupuncture/Oriental Medicine program.  The consortium agreement will allow NWHSU to process aid for the course work taken at another institution.  

    Typical aid package

Please Note:

Northwestern Health Sciences University Code of Conduct: Financial Aid

  • A ban on revenue sharing arrangements from any lender
  • Gift ban from any lender (only of nominal value)
  • Prohibited contracting arrangements
  • Prohibit assigning a lender to first-time borrowers
  • Prohibit refusal to certify or delay of certification based upon choice of lender interaction with borrowers
  • Prohibit of offers of funds for private loans
  • Ban on staffing assistance
  • Prohibition on receipt of compensation for advisory board compensation

It takes time for your aid to be processed but our goal is to be prompt, timely and provide whatever assistance we can.

Financial aid packets are generally sent out about three months before the start of any term. For example, initial packets may be sent out the end of May, for the Fall Class. This timing helps to ensure you have the most complete and accurate information available.

Read all materials and complete all necessary forms accurately. Errors could delay processing.

You may call or stop by any time for assistance.

OTHER FINANCIAL AID INFORMATION

CURRENT ESTIMATED TUITION AND FEES

REPAYING YOUR STUDENT LOANS

You’ve attended college or received other education beyond high school, and you received federal student loans from the U.S. Department of Education along the way. You’re now about to deal with paying them back. You’ll need to know how to manage your student loan debt to avoid repayment problems. We will tell you steps to take so you won’t get behind in payments or go into default*, as there are serious consequences**.

Federal student loans are real loans, just like car loans or mortgage loans. You can’t get out of repaying a student loan if your financial circumstances become difficult any more than you could get out of your car or mortgage, unless you qualify for bankruptcy. But, it’s very difficult to have federal student loans discharged in bankruptcy; this happens only rarely. Also, you can’t cancel your student loans if you didn’t get the education you expected, didn’t get the job you expected, or didn’t complete your education, unless you leave school for a reason that qualifies you for a discharge of your loan.

As of July 1, 2009, the Income Based Repayment (IBR) program offers reduced student loan payments based on annual income and family size. Graduates may learn more about the IBR program and eligibility requirements by visiting the following websites:

Remember, your student loans belong to you; you have to pay them back.

Northwestern Health Sciences University historically has a low default rate of less than 1 percent.

ADDITIONAL FINANCIAL AID COUNSELING

Enrollment at NWHSU
While enrolled at NWHSU the student at any time may come by Student Records and Financial Services to review their financial aid portfolio. The emphasis is to recap entrance requirements and to think about your debt (current and future) and repayment questions before you graduate.

Exit Counseling
One of the borrower’s obligations is to participate in an exit group counseling session. The emphasis for exit counseling shifts to more specific information about repayment and debt-management strategies such as extended repayment and consolidation.

Click here for more information.

Please note that financial aid awarding and related processing are subject to change.


*What is default?
When you fail to repay your student loan according to the terms and conditions of your promissory note, your loan will be declared in default.

**Consequences of Default
Reported to credit bureau (borrower and cosigner)
Loan becomes immediately due in full
Ineligible to receive federal, state, private and/or institutional funds
Federal and state income tax refunds withheld (borrower and cosigner)
Wages may be garnished
Assignment to collection agency or federal government
Borrower responsible for attorneys’ fees and collection costs
Suspension of professional license or certificate

If you have questions, visit our FAQ page, and or call us at (800) 888-4777, #6.

   
 

Copyright © Northwestern Health Sciences University, 2501 W. 84th St., Bloomington, MN 55431, (952) 888-4777.
Send your questions/comments about the website to Northwestern Health Sciences University Web Coordinator.