Financial Aid FAQ for Newly Admitted Students

Welcome Admitted Students!

Congratulations on your offer of admission to Northeastern University!

We understand that a student’s financial aid award is a large piece of the decision process and are committed to doing our best to make your Northeastern experience affordable. That’s why we’re dedicated to meeting each incoming domestic financial aid applicant’s full demonstrated need, as determined by the CSS PROFILE. Learn more about our commitment to you and our unique Northeastern Promise.

The information provided below will help answer many questions you and your family may have regarding the financial aid process for newly admitted students.

To view the status of your award, including any scholarship awards, your Offer of Financial Assistance, or notification detailing any missing documents, please login to your Application Status Check.

Types of Financial Assistance
Learn more about the types of financial aid that are included in your Offer of Financial Assistance.

Understanding Your Offer of Financial Assistance
Learn about the components of your award letter, including the Disclosure Statement and the Expected Family Contribution (EFC).

Financing Options
Northeastern offers a number of options to assist you and your family in financing your Expected Family Contribution. These resources include an interest-free monthly payment plan and supplemental financing options.

Questions?
Our team is here to guide you and your family through the financial aid process. If you have questions or concerns, don’t hesitate to contact us!

How do I calculate my net cost?

List your estimated billed costs for tuition, fees, room and board, then subtract your financial aid award (Northeastern scholarships and grants, federal and state grants, federal student loans, but not federal work-study awards). The result is your estimated amount due to Northeastern for the academic year. You should also be familiar with indirect costs, such as books, supplies, travel and personal expenses. To make this calculation easier, please use our Annual Cost Calculator.

Why don't I have a financial aid award?

If you did not receive a financial aid award, additional documentation may be required before we can determine your financial aid eligibility. You may check the status of your documents through your myNEU student portal. Once you login to your myNEU, choose the “My Financial Aid Status” link, located in the Financial Services box under the “Self-Service” tab. Documents that are received and/or missing will be reflected under the “Documents” tab.

If additional or updated information is available for my file can my application be re-reviewed to increase my merit award?

Northeastern University reviews each student’s admission file extensively and takes all aspects of a student’s application into account when determining acceptance. Merit awards for all students are evaluated based on each student’s standing within the incoming applicant pool.

How can I get more financial aid?

Your Offer of Financial Assistance represents the best financial aid package Northeastern can offer to you as an admitted student. While we would be happy to review your Offer of Financial Assistance with you to answer any questions you may have, award decisions cannot be negotiated.

If you believe that we do not have the most accurate financial information (major errors on the FAFSA/PROFILE) or you have experienced a change in financial circumstances since filing your FAFSA (loss of job, excessive unreimbursed medical expenses, etc.) please let us know. Once we have information about this change, we can let you know the process for filing an official appeal.

Why does your financial aid award differ from another school's?

When comparing financial aid awards you will want to examine not only the total award amount, but also the net cost of attendance for each school after financial aid. Make sure to differentiate between grant aid (that does not have to be repaid) and loans. Some financial aid awards also include a parent loan; Northeastern aid packages do not. Costs should also be compared based on the educational experiences and outcomes you can expect to receive from each school.

What if my parents lose their job(s)?

We welcome the opportunity to discuss a substantial change in your family’s status since filing the FAFSA and the CSS PROFILE. Such circumstances include separation/divorce, loss of income, high medical and/or dental expenses (not covered by insurance), or a catastrophic expense. If you or your family experiences a significant financial change, you must submit a Change in Circumstances Form and documentation of the situation. This documentation should be addressed to your financial aid counselor.

I was accepted into the N.U.in Program. Am I eligible for financial aid?

During the fall semester of the N.U.in Program, students who apply for financial aid are considered for need-based Northeastern funding only. Grants, loans, and work awards from federal and state sources can be used beginning with the spring semester for students who qualify. All supplemental loans, including the Federal Direct Parent PLUS Loan, are available to students and parents beginning with the spring semester as well.

What is Federal Work-Study?

Federal Work-Study is financial assistance in the form of on-campus (or approved off-campus) part-time student employment. Students are awarded based on financial need, timeliness of application, and availability of funds.

Work-study supervisors are very flexible and work within students’ schedules. Students do not have a set minimum number of hours to work. However, students cannot work more than 20 hours per week.

Learn more about the Federal Work-Study program and general student employment.

When will I receive the Master Promissory Note (MPN) for the Perkins, Health Professions or Nursing Loans?

If you were awarded a Federal Perkins, Health Professions or Nursing Loan, the required documentation will be mailed to you during the summer.

How do I complete the paperwork for the Federal Direct Loan?

In order for first-time borrowers to receive funding through the Federal Direct Loan program, the online Federal Entrance Counseling and Master Promissory Note (MPN) must be completed. The Federal Entrance Counseling and MPN can be completed at studentloans.gov. We request that students do not complete the information necessary for the Federal Direct Loan until after May 1.

What if I would like to reduce or cancel a portion of my financial aid award?

Should you decide to reduce or decline a portion of your award, please send your request via email to your financial aid counselor.

How can I stay connected to Northeastern's Student Financial Services Office?

If you want to learn more about financial aid, receive updates and reminders about upcoming deadlines, ask questions and engage with our office, like us on Facebook and follow us on Twitter!