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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: Federal Direct Lending
www.studentloans.gov
This website is for completing a Direct Loan Program electronic Master Promissory Note (MPN) and Entrance Counseling for student Subsidized, Unsubsidized and/or Graduate PLUS loans that you take out to pay for your own education, or for parent PLUS loans that you take out to pay for your child's education. It also contains may other helpful links regarding federal loans.
- For assistance in the Direct Loan Entrance Counseling - (800) 848-0979
- For assistance in the Direct Loan Master Promissory Note - (800) 557-7394
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.
Step 3: Institutional Information Sheet
Download the Institutional Information Sheet (pdf). 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 4: Federal Perkins Loan Master Promissory
Note (MPN – A promise to pay; legal document) and Perkins
Entrance Counseling
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.
New Student Orientation
(Financial Aid Workshop)
Attendance is required at all new student orientations before excess funds (living expenses) may be picked up.
Refund Checks
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
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.
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