How much federal loan funding is available?
Award amounts vary and depend upon your financial need (as determined by the federal government), grade level, and dependency status.

Yearly Loan Limits:

Dependent       Classification                       Independent
$5,500              Freshman (0-29 hours)       $9,500
$6,500              Sophomore (31-59 hours)  $10,500
$7,500              Junior/Senior (60+ hours)   $12,500
                         Graduate/Professional        $20,500

Aggregate Loan Limits:

$31,000 as a dependent undergraduate student.

$57,500 as an independent undergraduate student (only $23,000 of this amount may be in subsidized loans).

$138,500 as a graduate or professional student (only $65,500 of this amount may be in subsidized loans). The graduate debt limit includes any Stafford Loans received for undergraduate study.

 

I am going to attend Northwestern State University in the summer. Is there any aid available if I attend then?
Typically, financial aid is awarded for the academic year, which includes fall and spring semesters. Summer financial aid is based on remaining eligibility, if any, from the academic year. In other words, if you use all your available grants and/or student loans during the academic year, you will most likely not have eligibility for the summer term.  Summer aid applications are available beginning in April.

 

I have financial aid now, but what about next year? Is it necessary to apply again?
Yes, you must apply each year to renew your financial aid.  After January 1, review your renewal FAFSA record on the web and revise the information to reflect your income for the preceding year (and other information only if it has changed) and send the application electronically. Be very sure to specify NSU school code 002021 as a recipient of your information. When your FAFSA is processed, the Federal Processor will notify you by email. If you have a PIN number, you will be able to view your SAR on the FAFSA Website. You will receive a paper SAR only if your email address is not provided on the FAFSA.

Regardless of the method you use, remember that the U.S. Department of Education must receive your FAFSA information no later than May 1 in order to be considered for priority need-based funding.  Please make every effort to apply on time so that you are considered for all types of available aid. If you miss the priority application date (May 1) you may still apply, but some aid may not be available.

 

What is a Parent PLUS Loan?
The Federal Parent Loan for Undergraduate Students (PLUS) is not based on financial need and is limited to a parent borrower for a dependent student. A parent is currently defined as a person's natural or adoptive mother or father, step-parent, or legal guardian. The annual limit is equal to the student's cost of attendance, as defined by Northwestern State University, minus any other financial aid the student is receiving. Parents are required to pass a credit check. The interest is fixed, adjusted each year on July 1, but will not exceed 9 %. Interested parents should contact lenders directly to apply. 

 

What if my parents are denied a Plus loan?
Should your parents be denied a Parent Plus Loan you may be eligible for additional unsubsidized loans.

 

What is the difference between a subsidized loan and an unsubsidized loan?
A subsidized student loan is awarded on the basis of the student's financial need and other specific eligibility requirements. The federal government does not charge interest on these loans while borrowers are enrolled at least half-time, during a six-month grace period, or during authorized periods of deferment.  An unsubsidized student loan is not based on the student's financial need, but students must also meet specific eligibility requirements. Interest is charged throughout the life of the loan. The borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized (added to the loan principal).   Students are considered for subsidized loans first.

 

To whom do I speak about a question or problem with my bill?
Billing transactions and associated student account issues are administered by the Cashiers Office, located in St. Denis Hall.  Phone: 318-357-5446 

 

What is the Satisfactory Academic Progress Standard and how does it apply to me?
The Federal Government mandates that students must maintain satisfactory academic progress toward completion of their degrees within a reasonable period of time. 

All students must meet the SAP standards to be eligible for federal funding, including grants, work-study, federal, and PLUS loans.

 

My grade level is going to increase in the spring. Will I be eligible for more financial aid?
You might be eligible for more Federal Subsidized Student Stafford or Unsubsidized Stafford loans. Once your grades have been posted, if your grade level has increased from a Freshman level to a Sophomore level (30 credit hours earned), or has changed from the Sophomore level to a Junior level (60 credit hours earned) you may be eligible for more Federal Student Stafford Loan. This depends on your Cost of Attendance and the amount of your initial financial aid award.

The increase could also affect your loan eligibility for the upcoming summer if you plan on attending and receiving federal loans.

 

How do I apply for all types of aid?
Complete the FAFSA (Free Application for Federal Student Aid) each year.

Read all instructions.

Use your legal name (not nicknames) and your correct social security number.

If your parents are divorced, you must use the information for the parent you lived with most in the last 12 months. If that parent is remarried, you must also include the stepparent's income. Be sure to provide the information requested about your parents.

Make sure you include #002021 on your list of school codes. Also, if you were required to provide parental information, a parent is also required to sign the FAFSA.

If you complete the FAFSA electronically, don't forget to sign using your PIN (Personal Identification Number).

Allow 2-3 weeks for your FAFSA to be processed. If after 4 weeks you have not received a Student Aid Report (SAR) from the Federal Processor, call them at 1-800-433-3243 (1-800-4FEDAID).

Make a copy of your completed FAFSA for your records) A student must complete the Free Application for Federal Student Aid (allow 3-4 weeks for processing).

Complete the NSU Data Form. 

Remember the priority deadline for NSU is May 1!


What types of aid are available?
Northwestern State University offers grants, loans, work-study and scholarships. All programs are designed to assist students with the resources necessary to further their education at NSU. The information located on the Types of Funds page will provide more detailed information.

 

What is "Cost of Attendance" or "Budget"?
Cost of Attendance is an estimated budget of costs for attending NSU. This
includes tuition, books, transportation, etc. Your total aid package (grants,
scholarships, loans, etc.) cannot exceed this Cost of Attendance budget. 

 

What is verification?
Verification is a review process in which the Office of Financial Aid determines the accuracy of the information provided on the student's financial aid application.  During the verification process the student and parent, if dependent, will be required to submit documentation for the amounts listed (or not listed) on the financial aid application.  Such documentation may include signed copies of parent and student tax returns, copies of W-2's, copies of Social Security benefit statements among other items.  Financial aid applications are randomly selected by the Federal processor for verification.  If there is an asterisk next to the Expected Family Contribution (EFC) figure on your Student Aid Report (SAR), your SAR has been selected for verification.  Schools may also select additional students for verification.  If any discrepancies are uncovered during verification, the Office of Financial Aid may require additional information to clear up the discrepancies.  Northwestern State University is required by the Department of Education to verify this information before aid can be awarded to you.



What is an EFC?
EFC stands for "Estimated Family Contribution".  It is a number determined by the U. S. Department of Education that is subtracted from your Cost of Attendance to determine eligibility for Pell Grants, other Grants, and other need-based aid.

 

How do I complete the Fee Payment Process?
Fee Payment is a process by which students pay their tuition and fees, receive information regarding Financial Aid and Scholarships, obtain book vouchers (if eligible), obtain meal plans, parking stickers, student IDs, etc. The Fee Payment schedule is located in the schedule of classes booklet.

 

When should I apply for financial aid?
Students should complete their FAFSA along with any other required paperwork prior to May 1 for Federal Aid.

Scholarship application priority consideration is December 1.

 

Will my financial aid be affected if I drop a class?
All Financial Aid recipients are subject to the policies concerning Satisfactory Academic Progress . Satisfactory Academic Progress is defined as passing the required number of hours, obtaining the required grade point average, and not exceeding a maximum attempted hours.  Dropping classes could affect your required number of hours earned as well as you total attempted hours.

How do I appeal to get my financial aid back?
A student may appeal to receive financial aid after failure to obtain standards required by Satisfactory Academic Progress by completing a Financial Aid Appeal Form. Deadlines are as follows:

Fall Appeals                            Spring Appeals                       Summer Appeals
Priority deadline: July 15          Priority deadline: January 2     Priority deadline: June 6
Final deadline: September 30   Final deadline: February 28     Final deadline: July 15

Any appeal that has been denied must be approved by the Director of Financial Aid for committee reconsideration. Any student that had an appeal approved for the preceding semester must also obtain approval for reconsideration from the Director of Financial Aid.

If your appeal is denied, or you choose not to appeal, you can attend one semester making progress without the benefit of federal aid.


What is a Master Promissory Note?
The Master Promissory Note (MPN) essentially opens a line of credit for
education expenses during your academic career. When you sign a
Federal Stafford Master promissory note, you promise to repay your student
loan(s). The note also includes important language about your rights and
responsibilities as a borrower.


As a dependent student, is there additional aid available?
As a dependent student, the amount of aid is determined by eligibility and need. You may be eligible for additional grants or apply for a Parent PLUS Loan. If a parent is denied a Parent PLUS loan, additional loan proceeds may be certified for the student.

 

What is an overaward?
Federal and University of Louisiana System rules state that a student cannot receive aid in excess of their Cost of Attendance budget. Any time a student receives any federal, state, or institutional aid in excess of their Cost of Attendance, funds must be returned or adjusted to accommodate the overage.

 

After a resignation from school, why do I owe money?
After an official or unofficial withdrawal from the university, a refund and/or repayment evaluation must be performed on students' accounts to determine eligibility for refund or repayment. Federal Regulations require that we determine the amount of time enrolled at the institution and apply appropriate refunding. You must earn more than 60% of your aid by attending more than 60% of your registered class time to keep all aid disbursed. NOTE: If a recipient of federal aid stops attending class without officially resigning from the university, a last date of attendance will be applied based on information received from the instructors and appropriate refunding applied.

 

Can the TOPS Tech award be used at NSU?
No, TOPS Tech can only be used at technical schools.

 

How do I maintain eligibility for academic scholarships?
You must maintain a certain semester GPA .  This GPA is listed on your scholarship award letter, however you can contact our office to obtain this information as well.  You must also enroll in 12 hours each regular semester.

 

What happens to my academic scholarship if I sit out a semester?
You must be continually enrolled each fall and spring semester.  You may complete an academic scholarship appeal form prior to sitting out.  You will need to provide a statement and any documentation regarding why you plan to sit out a semester.

 

How can I get an in-school deferment on repayment of my loans?
Request the deferment form from your lender and bring it to the Office of Financial Aid.  NSU also submits information to lenders regarding enrollment each semester.

 

I did not keep a copy of my tax return.  How do I request a copy?
You can obtain a copy by contacting the Internal Revenue Service at (800) 829-1040 and ask for a tax return transcript.

 

Can audit courses be used to receive financial aid?
No.  Audit course hours cannot be used to fulfill your hour requirement for financial aid.

 

Why is it when I try calling your office I can never get through?
Our office handles several hundred phone calls per day during peak times.  We have two incoming phone lines that stay constantly busy.  A good strategy if you are in the area is to stop by in person.  You may also try other means such as e-mail.

 

When will I receive my refund check?
After awards have been applied to student accounts any remaining balance owed to the student will be refunded shortly after the late registration period.

 

When will my financial aid be awarded?
Your financial aid will be awarded upon completion of all financial aid paperwork.  To ensure your aid is awarded by Fall Fee Payment, you must complete all paperwork by May 1st.

 

I did not meet the Financial Aid Progress standards, what do I do?
A student can regain financial aid eligibility by one of two ways.  Submit a financial aid appeal form or attend one semester making progress without the benefit of federal aid.  More detailed information can be found on the Satisfactory Academic Progress page.

 

Can I get financial aid for summer school?
Summer school is in excess of the normal awarding process. fall and spring semesters. If a student attends school full - time for both fall and spring, aid is not usually available. To determine your eligibility, complete the Summer Loan Application (available in April) and submit to the Office of Financial Aid for eligibility determination.