Search
We understand that each student’s and family’s financial situation is unique and offer a number of options to assist you in financing your education. These resources, which include a payment plan and supplemental financing, can be combined or used in addition to any current family income and savings.
The best way to limit debt is to consider the interest-free monthly payment plan. If this plan is not a viable option, you may consider financing the difference through the Federal Direct PLUS Loan or private loans. We strongly encourage you to consider all the ways to pay for an education to determine which best meets your needs.
Direct costs, which may include tuition, fees, housing, and food, will vary depending upon your student type and program. Housing and food costs will also vary depending upon your assigned residence hall, room occupancy and meal plan selected. To arrive at the portion of direct costs you must meet, subtract the amount(s) of any grants or loans offered from your billed expenses. Please remember that Federal Work-Study is not subtracted from direct costs.
If you have questions regarding the options outlined below or would like assistance in planning for the semester or even academic year, please do not hesitate to contact our office.
Northeastern University offers monthly payment plans, which are administered through Flywire.
The monthly payment plan allows you to divide your educational costs into smaller, more manageable, installments. In using this plan, it can reduce your need to borrow, thereby, reducing the overall cost of education and can be combined with your financial aid award or other financing options. Because the payment plan is not a loan, you do not have to pay interest, only an enrollment fee of $45 per term.
Additional information regarding payment plan options can be found in the Payment Plan FAQ’s.
For platform and payment plan questions, students and authorized users can contact Flywire by submitting a contact form, or calling (US: +1 857 287-3823 or International: +1 857 287 3818).
To enroll in a payment plan, follow these steps:
If an Authorized User wants to sign up for a payment plan, the STUDENT will need to log into Flywire. Once the STUDENT has logged into Flywire under the Quick Links on the Account Summary tab:
Payment Plan Ownership
Students or a student’s Authorized User can enroll in a Payment Plan. If the student enrolls, the student is the owner of the plan; if an Authorized User enrolls, that individual is the owner of the plan. This is important because only the owner of the plan can change the payment method. Both the student and ALL of the student’s Authorized Users will receive Payment Plan notifications by email.
However, either user is able to make a payment towards the payment plan even when they are not the payment plan owner. To pay towards a plan that you do not own, click on “Make a Payment”, and select the plan you wish to contribute towards and you can either “Pay Next Installment” or “Pay Another Amount”.
| Term | Monthly Installments | Enrollment Start Date | First Installment Due | Deadline to Enroll |
|---|---|---|---|---|
| Fall | 5 | 6/15/2024 | 7/15/2024 | 7/15/2024 |
| Fall | 4 | 7/16/2024 | 8/15/2024 | 8/15/2024 |
| Term | Monthly Installments | Enrollment Start Date | First Installment Due | Deadline to Enroll |
|---|---|---|---|---|
| Spring | 4 | 11/15/2024 | 12/15/2024 | 12/15/2024 |
| Spring | 3 | 11/15/2024 | 1/15/2025 | 1/15/2025 |
| Summer | 3 | 4/18/2025 | 5/15/2025 | 5/15/2025 |
| Summer | 2 | 4/18/2025 | 6/15/2025 | 6/15/2025 |
| Term | Monthly Installments | Enrollment Start Date | First Installment Due | Deadline to Enroll |
|---|---|---|---|---|
| Spring | 4 | 11/21/2024 | 1/15/2025 | 1/15/2025 |
| Spring | 3 | 11/21/2024 | 2/15/2025 | 2/15/2025 |
| Summer | 3 | 4/18/2025 | 5/15/2025 | 5/15/2025 |
| Summer | 2 | 4/18/2025 | 6/15/2025 | 6/15/2025 |
| Term | Monthly Installments | Enrollment Start Date | First Installment Due | Deadline to Enroll |
|---|---|---|---|---|
| Spring | 4 | 11/29/2024 | 1/15/2025 | 1/15/2025 |
| Spring | 3 | 11/29/2024 | 2/15/2025 | 2/15/2025 |
| Summer | 3 | 4/18/2025 | 5/15/2025 | 5/15/2025 |
| Summer | 2 | 4/18/2025 | 6/15/2025 | 6/15/2025 |
| Term | Monthly Installments | Enrollment Start Date | First Installment Due | Deadline to Enroll |
|---|---|---|---|---|
| Spring | 3 | 2/28/2025 | 3/15/2025 | 3/15/2025 |
| Spring | 2 | 2/28/2025 | 4/15/2025 | 4/15/2025 |
| Summer | 3 | 5/28/2025 | 6/15/2025 | 6/15/2025 |
| Summer | 2 | 5/28/2025 | 7/15/2025 | 7/15/2025 |
| Term | Monthly Installments | Enrollment Start Date | First Installment Due | Deadline to Enroll |
|---|---|---|---|---|
| Spring | 4 | 11/27/2024 | 1/1/2025 | 1/1/2025 |
| Spring | 4 | 11/27/2024 | 1/1/2025 | 1/1/2025 |
| Summer | 4 | 4/18/2025 | 5/15/2025 | 5/15/2025 |
| Summer | 3 | 4/18/2025 | 6/15/2025 | 6/15/2025 |
When additional funding is required, loans can be an appropriate choice for many families. A variety of credit-based loan options are available to Parents and Students. We encourage you to research all of your available options. It is best practice to only borrow enough money to cover your costs. Below you will find additional information about the Federal PLUS borrowing options (Parent PLUS for the parents of dependent undergraduate students, and the Grad PLUS loan available to graduate students), as well as information about private loans and the private loan comparison tool ELM Select.
The federally sponsored PLUS loan is a student loan for graduate level students and the parents of dependent undergraduate students, who are attending at least half-time.
Loan funds are disbursed directly to Northeastern in equal amounts over each term of enrollment for the academic year. The maximum amount that can be borrowed is the cost of education less any other forms of financial aid. PLUS loans must be processed according to federal regulations, which stipulate that a loan cannot be processed after the end of the loan period. Thus, you cannot use a federal PLUS loan to pay a back balance. The Federal Direct Graduate PLUS Loan requires credit approval by the Direct Loan Servicer.
| Who is the Borrower? | Biological or adoptive parent (or, in some cases, the step-parent) |
| Eligibility | Must be enrolled in a degree-granting program at least half-time and meet all eligibility requirements for federal aid. |
| Interest Rate | The interest rate on loans disbursed during the 2024-2025 academic year is 9.08% |
| Origination Fee | For loans with a first disbursement on or after October 1, 2020 the origination fee is 4.228%. |
| Repayment | Parent borrowers have up to 25 years to repay their loan. Repayment begins 60 days after the loan has been paid in full to the university. Borrowers may request deferment through their assigned Direct Loan servicer to postpone payments until 6 months after the student graduates from the university or drops below half-time enrollment. During the deferment period, interest can be paid monthly, quarterly or capitalized. |
| Consolidation | Borrowers may consolidate any previously borrowed PLUS loans. |
| Additional Requirements | First-time borrowers must complete a Federal PLUS Loan Master Promissory Note (MPN).
If a parent is approved by appeal or with an endorser, they are required to complete PLUS Credit Counseling. However, online credit counseling is encouraged for all PLUS loan borrowers. |
Parents who wish to apply for the Federal Direct Parent Plus Loan must complete the following steps:
Please note, if a parent is denied a Federal PLUS loan due to credit reasons, the parent may appeal the denial with the Direct Loan Origination Center or reapply with a credit-worthy cosigner. The Direct Loan Origination Center can be reached at 800.557.7394.
| Who is the Borrower? | Graduate Student |
| Eligibility | Must be enrolled in a degree granting program at least half-time and meet all eligibility requirements for federal aid. |
| Interest Rate | The interest rate on loans disbursed during the 2024-2025 academic year is 9.08% |
| Origination Fee | For loans with a first disbursement on or after October 1, 2020 the origination fee is 4.228%. |
| Repayment | Students have up to 25 years to repay their loan. Grad PLUS loans do not have a grace period. As such, repayment begins after the student is no longer enrolled at least half-time. Students who drop below half-time status then re-enroll above half-time status will need to request their loans be deferred again through their assigned Direct Loans servicer. |
| Consolidation | Can be consolidated with Federal Direct, FFEL, and Perkins Loans upon graduation |
| Additional Requirements | First-time borrowers must complete Federal Entrance Counseling and a PLUS Loan Master Promissory Note (MPN).
If a borrower is approved by appeal or with an endorser, they are required to complete PLUS Credit counseling. However, online credit counselor is encouraged for all PLUS loan borrowers. |
Graduate students who wish to apply for the Graduate PLUS Loan must complete the following steps:
Education loans vary by lender. You should compare loan terms and conditions and choose the one that best fits your situation.
Before applying for a private loan, students should always exhaust all of their federal loan eligibility. Parents may also want to consider using federal parent loan funds before cosigning a private loan for a student.
The Office of Student Financial Services encourages students and families using private loans to apply for one full academic year at a time rather than on a per-semester basis. This prevents multiple hits on the borrower’s credit report and ensures that a student has a way to cover their costs for a full academic year. If you need assistance planning or have questions, please do not hesitate to contact us.
We recommend that students apply for a private loan with a co-signer. A co-signer assumes responsibility for a loan should the borrower fail to repay. Having a co-signer on the loan often results in a lower interest rate and reduced fees. Please see our information on the Qualities of a Good Cosigner to help you choose a co-signer prior to applying for a loan.
The following are some questions that you may want to ask your lender or consider when choosing a lender/loan option:
To help facilitate your private loan search, Northeastern has partnered with ELM Select. Using the ELM Select tool,you can compare private loans from multiple lenders. Based on your search criteria, ELM Select will display a neutral list (in random order) of private lenders that Northeastern students have borrowed from within the past three years. You are not required to use any of the lenders listed on ELM Select. Northeastern will process loans from any eligible lender the student chooses. Northeastern may not deny or otherwise impede the borrower’s choice of a lender or cause unnecessary delay in loan certification for those borrowers who choose a lender not listed on ELM Select. Northeastern does not prefer, recommend, promote, endorse or suggest any of these lenders.