NWHSU logo Financial Aid Procedures


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

    You can decide from our Massage Therapy Preferred Lenders - Click here

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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