Managing your aid includes reviewing and responding to your offer, applying each year, and accounting for any changes to your circumstances along the way.
After you apply for financial aid and receive your offer, you'll need to review, and accept or decline your aid, as well as account for changes to your eligibility, like loss of income or change of enrollment status. If you've taken out any loans, you'll plan for loan repayments before you graduate, withdraw completely, or drop below half-time enrollment.
It’s important to carefully review your letter before you decide whether to accept or decline your offer. If you plan to use Federal Student Loans, there will be additional steps to take after you accept them.
Charges that show up on your bill, including tuition and any fees you’re responsible for, can be paid in multiple ways, including with financial aid.
If the amount of your financial aid or loans is greater than the amount billed to you by the University, you will have a credit balance on your student account.
If you or your family experience a change in financial circumstances not reflected in your original application, you are entitled to request a reassessment of your aid award.
If you completely withdraw, drop out, are dismissed, take a leave of absence prior to completing more than 60% of a term, or do not successfully complete at least one course in a term, your financial aid award will be recalculated to align with your status.
Most loan repayment begins upon graduation or separation from Northwestern and a variety of options may help you manage or meet your monthly loan obligations.
If you graduate with an outstanding federal student loan balance, you will need to complete exit counseling to learn your rights and responsibilities as a student loan borrower.