SCS Graduate FAQs
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- When should I apply for financial aid?
- Do I need to reapply for financial aid every year?
- Which forms are required in order to apply for financial aid?
- What happens if my financial aid documents are not in by the financial aid deadline?
- I filed an extension with the IRS. What can be done in the interim?
- How much is tuition for the School of Continuing Studies Graduate Programs?
- How is financial aid determined?
- How much of the costs will my financial aid cover?
- Do I need to pay for my tuition charges upfront?
- Are grants and scholarships available?
- What loan programs are available?
- What is the difference between the Subsidized Stafford loan and Unsubsidized Stafford loan?
- What happens if I only enroll in one course?
- What kind of financial aid is available for international students?
- I have an anticipated credit on my account. Can I receive those funds before classes start?
- Classes have started but my funds have not yet disbursed. I need money for living expenses and books. What should I do?
- I accepted more loan assistance than I need. Can I reduce or cancel my loans?
- Am I able to request additional loan assistance than what I accepted?
- How will an outside scholarship affect my financial aid?
- Where should my outside scholarship check be sent?
1. When should I apply for financial aid?
The deadline for financial aid depends on the quarter for which you are requesting aid. Generally, the deadlines fall around the following dates:
Fall: June 15, 2010
Winter: November 12, 2010Spring: February 18, 2011
Summer: April 29, 2011
2. Do I need to reapply for financial aid every year?
Yes. Students must submit all of the required application documents each year they wish to receive financial aid.
3. Which forms are required in order to apply for financial aid?
- The Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov.
- The University Aid Application
- Verification of Employer Reimbursement form
4. What happens if my financial aid documents are not in by the financial aid deadline?
The Office of Financial Aid can not guarantee an award and funds will be posted to your account by the first day of classes. This may result in late fees, registration/transcript holds, and not receiving a living/book expense refund in a timely manner. If you are passed the deadline, please submit the missing items immediately. The sooner these are in the sooner you will receive an award. We ask that you allow 4 to 6 weeks to process an award after all of your financial aid documents are in. Please be sure to view your checklist to be sure no further information is required and all documents are received.
5. I filed and extension with the IRS. What can be done in the interim?
Please submit a copy of the extension form submitted to the IRS, the previous year's tax return and this year's W-2s. After this is received, a preliminary award can be completed. However, we will need a copy of the federal tax return once you do submit it. Without this, the financial aid office can not do an official award.
6. How much is tuition for the Feinberg School of Medicine?
The cost of tuition per course varies by the program for which you are enrolled. Please refer to the tuition costs page on the SCS-Graduate page for more information.
7. How is financial need determined?
There are several components taken into consideration when determining a student's financial need. A student's Expected Family Contribution (EFC) is determined by information provided on the FAFSA and other data reported on the University Aid Application. The Office of Financial Aid also inputs the parents' tax information into the federal calculation for need to determine the EFC. The EFC is then subtracted from the student's cost of attendance, which is an estimate of the expenses a student will incur during the academic year. The end result is the student's financial need.
8. How much of the costs will my financial aid cover?
Students are generally offered financial aid to cover tuition and books only. Please contact the Office of Financial Aid if you need information on funding for living expenses.
9. Do I need to pay for my tuition charges upfront?
Newly admitted students are required to pay 60% of their tuition charges upfront. Students who were admitted and attended in a previous quarter are not required to pay upfront.
10. Are grants and scholarships available?
Federal and institutional grants and scholarships are not available to Graduate students in the School of Continuing Studies. Students may look for outside scholarship assistance on the web at websites such as www.fastweb.com, www.scholarships.com or any other scholarship search engine. Please keep in mind that students should not be required to submit any form of payment in order to apply for outside scholarships.
11. What loans programs are available?
Please refer to the section entitled "Loans" on the School of Continuing Studies-Graduate Program financial aid page.
12. What is the difference between the Subsidized Stafford loan and Unsubsidized Stafford loan?
Essentially these two loans are the same, however the Subsidized Federal Stafford Loan's interest is paid by the government while a student is in school at a rate of half-time or greater and therefore does not accrue interest for the student while in school. The Unsubsidized Loan does accrue interest while in school and you, as the student, can choose to pay the interest while in school (so it does not compound) or defer all payments until out of school.
13. What happens if I only enroll in one course?
Students that are enrolled in one course are not eligible for federal loans. The financial aid office offers students enrolled less than half-time private student loans which are subject to credit approval. Please contact the financial aid office if your enrollment differs from the information provided on your University Aid Application.
14. What kind of financial aid is available for International Students?
International students interested in financial aid are offered private student loans after completing the University Aid Application. Most lenders require a US co-signer for International student applicants. The interest on private student loans begins to accrue once the loan has been disbursed to the student's account. Students typically go into repayment six months after graduation.
15. I have an anticipated credit on my account. Can I receive those funds before classes start?
No. Students may not request a refund via CAESAR until the first day of class.
16. Classes have started but my funds have not yet disbursed. I need money for living expenses and books. What should I do?
If a student has completed all required documents and their term has officially started but their funds have not disbursed, they may come to the Office of Financial Aid with their Wild Card to request a cash advance. The maximum amount of cash advance per month varies per program. The cash advance will appear as a charge against the student's anticipated credit.
17. I accepted more loan assistance than I need. Can I reduce or cancel my loans?
Yes. Students who wish to reduce or cancel their loans can e-mail the Office of Financial Aid from their NU e-mail account and request to reduce their loan assistance. Students must include their name and student ID number and state the loan program they wish to reduce or cancel. If they wish to reduce the loan and not completely cancel it, they should state the amount to which they want the loan reduced.
18. Am I able to request additional loan assistance than what I accepted?
If students rejected a portion of their loan assistance at the beginning of the year and decide later that they need those funds, they can request that the Office of Financial aid reinstates their originally offered loan amounts. Students may be required to complete additional loan applications or documents depending on the loan type. If students accepted 100% of the aid they were offered in their financial aid award, they are generally not eligible to receive additional funding unless they can document extenuating circumstances (i.e. medical bills not covered by insurance). For more information on requesting additional funding for extenuating circumstances, please contact the Office of Financial Aid.
19. How will an outside scholarship affect my financial aid?
If a student has accepted 100% of their loan assistance, the Office of Financial Aid will be required to return an equal portion of their loan assistance to make room in the cost of attendance for the outside scholarship. If a student has declined a portion of their loan assistance equal to or greater than the amount of the scholarship, their other aid will not be affected.
