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Students who have completed the FAFSA, will automatically be considered for the Federal Direct Unsubsidized Loan. Interest on this loan accrues while you are in school. For information regarding the amount you may be eligible to receive, please see the chart below.
The interest rate for loans first disbursed on or after July 1, 2021 and before July 1, 2022 is 5.28%. The interest rate on loans disbursed during the 2023-2024 academic year is 7.05%
For loans with a first disbursement on or after October 1, 2020 the origination fee is 1.057%. Learn more.
| Student Type | Annual Amount |
|---|---|
| Graduate or Professional | $20,500 Unsubsidized |
| 6th Year students in PharmD | $37,167 Unsubsidized |
| Total Lifetime Eligibility | $138,500 for graduate or professional students — No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study. |
These federal loan programs carry a 5% interest rate during repayment. You must demonstrate financial need and meet Northeastern’s priority filing date for consideration, as funds are limited.
To be eligible for the Federal Nursing Student Loan, students must be enrolled at least half-time. These loans carry a 9-month grace period prior to repayment following graduation, withdrawal, or a drop below half-time status. Repayment on the loan is for a period of up to ten years with a minimum $40 monthly payment. The loan may be prepaid at any time without penalty.
To be eligible for the Health Professions Loan Program, applicants must be enrolled full-time in the PharmD program through the Bouvé College of Health Sciences. Additionally, students who would like to be considered for the Health Professions Loan Program must include parent income information when completing the FAFSA. These loans carry a 12-months grace period. Repayment on the loan is for a period of up to ten years with a minimum $40 monthly payment. The loan may be prepaid any time without penalty.
Students who have been awarded the Federal Health Professions Loan or Nursing Student Loan must first accept these loans through the Student Hub. Heartland ECSI, Northeastern’s loan servicer, will then email the required Promissory Note, Self-Certification form, Statement of Rights and Responsibilities, and Personal Data Sheet in late summer. These documents must be completed before the loan disburses.
The Physician Assistant Loan is awarded to full-time students in the graduate Physician Assistant program, who demonstrate financial need after filing the Free Application for Federal Student Aid (FAFSA). The interest rate is fixed at 7%. Northeastern University is the lender, and repayment is made directly to Northeastern. Eligible students may be awarded up to $3,000 per academic year, depending upon the student’s financial need. Repayment begins one month after the student ceases to be enrolled full-time at Northeastern University.
If awarded the Physician Assistant Loan, the student must accept the loan via the Student Hub. Heartland ECSI, Northeastern’s loan servicer, will then email the required Promissory Note, Self-Certification form, Statement of Rights and Responsibilities, and Personal Data Sheet in late summer. These documents must be completed before the loan disburses.