Student Loans

Federal Direct Loan Program (FDLP)

The FDLP program consists of Federal Direct Stafford Loans and PLUS Loans.

Federal Direct Stafford Loans

  • Fixed-rate student loans
  • For undergraduate students, loans can be subsidized or unsubsidized
  • For graduate students, loans are unsubsidized
  • Must attend college at least half-time
  • The most common and one of the lowest-cost ways to pay for school
  • Find out about loan limits

PLUS Loans

For parents of a dependent student or for graduate/professional students. For more information on PLUS Loans and loan limits, contact the Financial Aid Office.


Federal Perkins Loan

A Federal Perkins loan is a low-interest, need-based loan for undergraduate and graduate students with exceptional financial need. Eligibility for the Federal Perkins Loan is determined by the Financial Aid Office.

Find out about loan limits.


SELF Loans - State of Minnesota

Minnesota's Student Educational Loan Fund (SELF) helps students who need assistance in paying for education beyond high school. To be eligible for a SELF Loan, a student must be either a:

  • Minnesota resident who is enrolled at least half time in a certificate, associate, baccalaureate or graduate degree program at an eligible school, OR
  • Non-Minnesota resident who is enrolled at least half time in a certificate, associate, baccalaureate or graduate degree program at an eligible school located in Minnesota

To be eligible for a SELF loan, the student must have a creditworthy cosigner and may not be delinquent or in default on a SELF or any other outstanding student loan. SELF Loan counseling is also required.

The SELF Loan requires completion of the FAFSA.

For more information, visit SELF Loans or www.getreadyforcollege.org.


Private Loans

Private alternative loans should be utilized only after all other financial aid resources have been exhausted. Private loan interest rates are variable and are often based on credit plus an index such as PRIME or LIBOR.

 To apply for a private loan:

  1. Research and choose your lender. Consult Northwestern's preferred lender list or view other private loan options. (Students have the option to choose a lender not listed on Northwestern’s preferred lender list.)
  2. Apply for the loan, following the steps the lender provides.
  3. Private loans can take 2-3 weeks to process. It is recommended that students begin applying for private loans before the trimester starts.

The amount you borrow will be split evenly between two trimesters. For example, if you borrow $5,000, your loan will split evenly: $2,500 for fall and $2,500 for winter.


Canadian and Provincial Loans

Canadian students can apply for Canadian and Provincial Student Loans.

Academic Calendar

Have a Question?

Our staff can help


Contact Financial Aid
email: finaid@nwhealth.edu

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