Announcements

Incoming Medical School Financial Aid awards will be available via CAESAR after 8:30pm on April 1, 2011 for all students who met the financial aid deadline.

Incoming Medical students who met the financial aid deadline will be able to access their financial aid awards via CAESAR after 8:30pm on Friday, April 1, 2011.

Students who do not receive a financial aid award should check their TO DO list in CAESAR to verify that all documents have been received.

You must use school code 001739 when completing your 2011-12 FAFSA in order for your FAFSA information to reach Northwestern University.

You must use school code 001739 when completing your 2011-12 FAFSA in order for your FAFSA information to reach Northwestern University.

Please note that Northwestern College (Chicago) is not associated with Northwestern University and if you select Northwestern College while completing the FAFSA we will not receive your FAFSA information.

For more information about applying for financial aid for the 2011-12 year, please select your school/department on the Chicago Financial Aid homepage and then click on Financial Aid Application Instructions.

Notice When Contacting the Chicago Financial Aid Office
When contacting the Chicago Financial Aid Office, please make sure to include your Student ID number in place of your social security number.  The Chicago Financial Aid Office does not require your social security number for identification, we only need your Student ID number.   If you do not have a Student ID and would like to include your SSN for purposes of identification, please only include the last four digits of your SSN (ie xxx-xx-1234).
Important Information Regarding Changes to Federal Loans for 2010-11

Information for Graduate and Professional Students regarding changes to the federal loan program for the 2010-11 aid year

This announcement is to inform you of important information regarding your federal loans for the 2010-11 academic year.  Northwestern University has made the decision to participate in the William D. Ford Federal Direct Loan program beginning with the 2010-2011 academic year. We will no longer use private lenders (through the Federal Family Education Loan program) for Stafford or GradPLUS loans.  We are making this move to ensure continuity of service for you and other federal student loan recipients in light of Congressional moves to change the federal student loan program as well as ongoing changes in the student loan industry.

Currently, Northwestern's Federal Stafford and GradPLUS loans are available under the Federal Family Education Loan (FFEL) program.    In the FFEL program, funds are provided from private lenders. As you may know, recent economic difficulties created considerable challenges for lenders in the FFEL program, with many lenders reducing borrower benefits or exiting the program altogether.  

In the William D. Ford Federal Direct Loan program, loan proceeds are provided directly from the federal government to the university on behalf of the borrower. No third party is involved.  In fact, more than half of the colleges and universities in the United States already participate in Direct Lending.  Northwestern decided to participate in Direct Lending for 2010-11 in order to eliminate any possible risks to our students that might be associated with either federal regulatory changes or market fluctuations affecting the FFEL program.  

In the William D. Ford Federal Direct Loan program, the maximum loan amounts remain the same for Subsidized, Unsubsidized and GradPLUS loans.  The interest rates remain the same for the Subsidized and Unsubsidized loans and are lower for the GradPLUS loans (the interest rate on a Direct GradPLUS loan is 7.9%, compared to 8.5% in the FFEL program).

The U.S. Department of Education software necessary to administer the Federal Stafford, PLUS and Grad PLUS loans through the Direct Loan program is already familiar to Northwestern.  Our knowledge of this software will ensure no disruption in the processing or the receipt of your loan funds for the 2010-11 year.

Please note, as a result of this transition you will need to sign a new Master Promissory Note (MPN) with the Direct Loan Program. It is possible for you to begin this process prior to receiving your financial aid award letter for next year; you will still be able to reject or accept loans when you receive your award notice.  Additional instructions and Frequently Asked Questions can be found under the "Loans" section of your program's financial aid page.  As always, aid advisors are also available to assist you throughout the aid cycle. 

Please feel free to contact the Chicago Office of Financial Aid if you have any questions or would like additional information.

Information for Undergraduate Students regarding changes to the federal loan program for the 2010-11 aid year

This announcement is to inform you of important information regarding your federal loans for the 2010-11 academic year.  Northwestern University has made the decision to participate in the William D. Ford Federal Direct Loan program beginning with the 2010-2011 academic year. We will no longer use private lenders (through the Federal Family Education Loan program) for Stafford, PLUS or GradPLUS loans.  We are making this move to ensure continuity of service for you and other federal student loan recipients in light of Congressional moves to change the federal student loan program as well as ongoing changes in the student loan industry.

The U.S. Department of Education software necessary to administer the Federal Stafford, PLUS and Grad PLUS loans through the Direct Loan program is already familiar to Northwestern.  Our knowledge of this software will ensure no disruption in the processing or the receipt of your loan funds for the 2010-11 year.

Currently, Northwestern's Federal Stafford, PLUS and Grad PLUS loans are available under the Federal Family Education Loan (FFEL) program.    In the FFEL program, funds are provided from private lenders. As you may know, recent economic difficulties created considerable challenges for lenders in the FFEL program, with many lenders reducing borrower benefits or exiting the program altogether.  

In the William D. Ford Federal Direct Loan program, loan proceeds are provided directly from the federal government to the university on behalf of the borrower. No third party is involved.  In fact, more than half of the colleges and universities in the United States already participate in Direct Lending.  Northwestern decided to participate in Direct Lending for 2010-11 in order to eliminate any possible risks to our students and parents that might be associated with either federal regulatory changes or market fluctuations affecting the FFEL program.  

As a result of this transition you will need to sign a new Master Promissory Note (MPN) with the Direct Loan Program. It is possible for you to begin this process prior to receiving your financial aid award letter for next year; you will still be able to reject or accept loans when you receive your award notice.  Additional instructions and Frequently Asked Questions are provided under the "Loan" section of the Undergraduate School of Continuing Studies' financial aid page.  As always, aid advisors are also available to assist you throughout the aid cycle.   

Please feel free to contact the Chicago Office of Financial Aid if you have any questions or would like additional information.

More Information on the Direct Loan Program

To learn more about the loans available to Graduate and Professional Students through the Direct Loan program, click here.

To learn more about the loans available to Undergraduate SCS Students through the Direct Loan Program, click here.

For Frequently Asked Questions about the Direct Loan Program for Graduate and Professional Students, click here.

For Frequently Asked Questions about the Direct Loan Program for Undergraduate Students, click here.

To visit the Department of Education's website for more information about Direct Loans, click here.

The Financial Aid Code of Conduct
Northwestern University's Office of Financial Aid adheres to the Code of Conduct as established by the Higher Education Opportunity Act as well as the National Association of Student Financial Aid Administrators' (NASFAA) Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals. A document outlining this policy is available here.
Our Mission Statement

The Chicago Campus Financial Aid Office is committed to

  • assisting you in understanding our programs and the resources and options available to you;
  • flexibility and concern in responding to individual circumstances and special needs, consistent with the guidelines of our general policies;
  • protecting the confidentiality of the information you provide to us; and
  • doing our best to notify you of any changes in federal programs and University policy.

In return, we expect you to

  • provide us with accurate information about your financial situation and notify us of significant changes;
  • meet deadlines and otherwise handle paperwork and reporting responsibilities promptly and carefully; and
  • attend any required financial aid sessions.
The College Cost Reduction Act has been signed into law.

What is it?

Congress has recently passed this act, and President Bush has signed it into law. Starting in the 2008-09 academic year, this legislation will have an impact on federal loan programs.

How will it affect you?

Most of the provisions will be to a borrower's advantage, but some cuts in lender subsidies will affect student loan fees and borrower benefits. Our office is monitoring the effects of this legislation and will provide you with all relevant information as it becomes available. Please continue to check our web site for updates.

Additional Information

Learn more about the College Cost Reduction amd Access Act at the NASFAA home page.