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Please note that financial aid awarding and
related processing are subject to change.
Applying for Federal Financial Aid for:
- Northwestern College of Chiropractic:
Federal graduate/health profession limits.
- Minnesota College of Acupuncture and Oriental
Medicine: Federal graduate limits:
• When entering with a bachelor's
degree: graduate status.
• When entering without a four-year
degree: fifth-year undergraduate status until you become
a Trimester 3 student; then graduate status.
- School of Massage Therapy: First-year,
first-time undergraduate limits and State of Minnesota
resources.
- Pre-professional/pre-chiropractic course work — undergraduate
course work required to complete the dual degree of
doctor of chiropractic and bachelor of science in human
biology (federal guidelines - consecutive 12 month limit):
- Federal undergraduate limits.
APPLYING FOR FEDERAL FINANCIAL AID
The Free Application for Federal Student Aid, Entrance
Counseling, Stafford Master Promissory Note, Perkins
Master Promissory Note, and Institutional Information
Sheet are the primary documents needed for those who
qualify. Additional documentation may be necessary.To
provide the most accurate information available, financial
Aid packets for new entering students are mailed out
approximately 12 weeks prior to the start of a
trimester. For current students, the FAFSA
and Institutional Information Sheet are required.
In order to provide the best service, it is important
to follow deadlines for required documentation so that
your financial aid can be processed in a timely
manner, otherwise there may be delays:
July 1, 2007, if you are starting or continuing
student in the Fall 2007 term
October 1, 2007, if you are starting or continuing
student in the Winter 2008 term
March 1, 2008, if you are starting or continuing
student in the Summer 2008 term
With delays, your financial aid may not be here when
tuition and fees are due (Friday of the third week after
the term starts) and/or to purchase books.
Feel free to contact the financial aid
office (800) or (952) 888-4777.
Your federal financial aid cannot be packaged unless we
have all required documents.
Step One: 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 Two: Entrance Counseling for Stafford
only (Mapping Your Future)
Open your browser and go to www.mapping-your-future.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.
Counseling is sent to Northwestern automatically but
note your confirmation numbers.
Step Three: 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.
Borrowers please note: The use of the
school's preferred lender list is not required. You must
select your lender. The Financial Aid Office cannot do
so for you.
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.
Northwestern College of Chiropractic
- Click
here
Pre-professional course work (graduate/professional
preparatory course work towards dual degree as a
doctor of chiropractic and bachelor of science in
human biology) - Click
here
Minnesota College of Acupuncture and Oriental
Medicine
School of Massage Therapy
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 any questions or concerns about the online
process feel free to call (952) 887-1387.
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 Four: Information Sheet (Institutional
Form)
For accuracy and efficiency, the information sheet helps
us with many areas, including your interest in college work
study, what type of aid you want to apply for (subsidized
Stafford and/or unsubsidized Stafford), and the amount.
As a graduate student, the maximum subsidized is up to $8,500
and unsubsidized is $10,000 (as a health profession by law,
chiropractic is allowed additional unsubsidized of up to
$12,500).
An Information Sheet will be mailed to you in a timely
manner from one of our highly experienced counselors.
This
"personalized" service is very important to us
so that we can get to know you one-on-one and facilitate
the overall financial aid process quickly and accurately.
Northwestern strongly encourages you to keep your borrowing
to a minimum as the average debt of a chiropractic student
is around $130,000 (10 years, 8.25 percent, $1,600/month).
Step Five: 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 Six: 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.
Borrowers please note: The use of the
school's preferred lender list is not required. You must
select your lender. The Financial Aid Office cannot do
so for you.
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.
Doctor of Chiropractic and Minnesota
College of Acupuncture and Oriental
Medicine, click
here.
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 Seven: 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.
Borrowers please note: The use of the
school's preferred lender list is not required. You must
select your lender. The Financial Aid Office cannot do so
for you.
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.
Undergraduate Programs (Massage
Therapy) or Undergraduate Status (Pre-Professional course
work or MCAOM),
(click
here).
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 Eight: 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 Nine: 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.
Please Note:
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.
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.
*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
Although there are no federal, state or institutional financial
aid options available for this program at this time, there
may be several tuition reimbursement opportunities through
your place of employment. Contact the Financial
Services Office for more information at (952) 888-4777,
ext. 387.
In addition to the federal financial aid, see Minnesota
Higher Education Services Office and private
loans.
If you have questions, visit our FAQ
page, and or call us at (800) 888-4777, #6.
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