Understanding Your Offer of Financial Assistance
A Guide for Graduate Students in the
College of Professional Studies
This brochure is intended to help you understand the financial aid award that was created based on the
information provided in your Free Application for Federal Student Aid (FAFSA). Please keep in mind that your
Offer of Financial Assistance is for one academic year only. The financial aid application process must be
completed annually.
Your financial aid award is automatically divided equally between the summer, fall, winter, and spring
quarters and is based on the anticipated enrollment plans we have on file.
Federal financial aid is awarded with the following expectations:
Financial aid funds are being used to make progress towards your degree by paying for courses
required for your academic program.
The amount of financial aid provided assumes you will participate in your courses for the entire
term. If you are unable to complete the full term for any reason, a portion (or all) of your financial
aid will need to be returned to the federal government.
You must complete the Student Financial Responsibility Agreement (SFRA) annually prior to course
registration.
You must earn at least one A – D letter grade each term. Failure to do so may require us to return
a portion of your financial aid funds.
You will be enrolled in a minimum of six credits per term, which is required to maintain financial
aid eligibility.
You must notify our office of any changes in your enrollment plans. If information surrounding
your enrollment plan is received from other university offices (i.e. the Office of the Registrar or
Academic Advising), there may be delays in updating your financial aid file.
Please remember that all communications, including financial aid award notifications and important updates
and reminders from our office, are sent to students directly at their Husky email account.
If you have any questions regarding your Offer of Financial Assistance or the information presented in this
brochure, please do not hesitate to contact us.
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Table of Contents
Financial Aid Overview
Your Financial Aid Notice
Viewing Your Award
Awards Tab Up Close
Estimating What You Will Owe
Types of Financial Assistance
Next Steps
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Dear Student:
We are pleased to present your 201x-201x Offer of Financial Assistance. Your offer is based on the information you
provided on the Free Application for Federal Student Aid (FAFSA). Please log into your my.northeastern.edu account to
view your financial aid award. Once you are logged in, select “Services & Links” then choose “My Financial Aid Status”
in the Student Financial Services box. Once you are in “My Financial Aid Status,” select “Awards” from the drop down
menu.
Your aid package has been formulated according to an estimated number of credits for each term as detailed below.
Please note: The minimum amount of credits needed to qualify for federal financial aid is 6 quarter hours per term.
Failure to enroll in 6 quarter hours can result in the removal of financial aid for that term.
Based on the credit load listed, your projected tuition costs per term have also been calculated. This is only an
estimate. Total costs, including fees and other charges, will be provided on your billing statement.
Next Steps:
We assume that you will accept all aid offered. Review the Understanding Your Financial Aid Award brochure
to fully understand the terms and conditions of the financial aid provided.
We have introduced a new online form, the CPS Credit Change Form, to allow you to update our office if you
plan on taking a different number of credits than what is listed above. To complete this form, visit your “My
Financial Aid Status” and choose “Applications” from the drop down menu.
If you would like to either cancel or reduce any of your aid, please reply to this email and indicate the amount
you would like to reduce the award by and/or which types of aid should be cancelled.
Please feel free to contact our office if you have questions about your award or about our aid policies and programs.
Sincerely,
Student Financial Services
Northeastern University
354 Richards Hall
cpssfs@northeastern.edu
617.373.2897
Your Financial Aid Notice
1. Federal Aid Eligibility
To maintain federal aid eligibility, students
must be enrolled in 6 quarter hours per term.
2. Enrollment Information
Your Offer of Financial Assistance is based on
the number of credits we have on file. If a
quarter is not reflected on your Offer of
Financial Assistance, then you have not been
provided aid for that term.
3. Estimated Tuition Costs
Tuition is charged on a per-term basis. The
costs reflected in your award notification are
estimated based on the number of credits
listed for that particular quarter. For a
complete list of tuition and fees, please visit
studentfinance.northeastern.edu/billing-
payments/tuition-and-fees.
4. CPS Credit Change Form
The CPS Credit Change Form on your
myNortheastern will allow you to update our
office about your anticipated enrollment plans
for the academic year. Your financial aid
counselor will review the information within 3-
5 business days. In the event there is a change
in your financial aid eligibility, you will receive
a revised award notification via email.
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Your Financial Aid Notice
Viewing Your Award
To view your financial aid award, log into your myNortheastern student portal. Once you
have logged in:
1. Choose “Services & Links”
2. Click “My Financial Aid Status” under Student Financial Services to view your
financial aid award and important details
3. Return to your myNortheastern frequently as information is updated on an ongoing basis
“My Financial Aid Status”
is year specific. The
award year is summer
through spring.
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The menu provides an array of
information pertaining to your
financial aid. Your award is located on
the “Awards” section. Missing
information and important messages
are listed under “Documents &
Messages.”
Use these links to learn
more about the financial
aid application process,
deadline dates, and access
required forms. Please
note, students in the
College of Professional
Studies are not required to
complete the CSS Profile.
Questions or concerns
regarding your financial aid
award? Don’t hesitate to
contact us. Use these links
to view our contact
information or reach out to
your designated financial
aid counselor.
1. Quarter Listing
The “Awards” tab on your myNortheastern
is broken down to provide the amount of
assistance you are receiving for each term
listed. If a term is not listed, then you have
not been provided aid for that term.
2. Your Award Information
This is a per-term breakdown of your
financial aid award for a particular quarter.
The dollar amount reflected includes the
total amount of grants/scholarships and
loans that have been awarded to you, which
are outlined in further detail in the sections
below. Please be aware that an origination
fee is deducted from all Federal Direct
Unsubsidized Loans. As a result, the net
disbursement will be less than the figure
reflected here.
3. Eligibility Requirements
Your financial aid award is subject to change
at any time throughout the year. Typically,
awards are adjusted if you do not complete
the full term, you take a different number of
credits than anticipated, or you receive
additional funds such as outside
scholarships.
4. Counselor Lookup Tool
If you have any questions regarding your
financial aid award, use this link to view your
assigned financial aid counselor’s contact
information.
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Estimating What You Will Owe
Now that you have received your Offer of Financial Assistance, you can determine how you will finance a
year’s education at Northeastern University. On your financial aid award email notification, an estimated
tuition cost is provided for each quarter, which is based on your anticipated enrollment (as shown below).
Sample Financial Aid Notification Enrollment and Tuition Costs:
Summer Quarter
Fall Quarter
Winter Quarter
Spring Quarter
July 9, 201x –
September 1, 201x
September 17, 201x –
December 15, 201x
January 7, 201x –
March 30, 201x
April 8, 201x –
June 29, 201x
6 Credits
6 Credits
6 Credits
6 Credits
Estimated Tuition
Costs
Estimated Tuition
Costs
Estimated Tuition
Costs
Estimated Tuition
Costs
$4,188
$4,188
$4,188
$4,188
To determine your estimated balance for each term, deduct the per-term subtotal award figures on your
myNortheastern portal from the estimated tuition costs found on your email notification. Please remember
that an origination fee is deducted from each Federal Direct Loan disbursement. As a result, the net amount
that will disburse to your account will be less than what is featured on your myNortheastern.
Monthly Payment Plan
The interest-free monthly payment plan,
administered through Tuition Management Systems
(TMS), allows you to divide your educational costs
into smaller, more manageable installments for a
nominal enrollment fee. Using this plan can reduce
your need to borrow.
Federal Direct Graduate PLUS Loan
A federal loan program that allows students to
borrow up to the cost of attendance, less other aid
awarded. This program is available to students who
are enrolled at least half-time (6 credits) in a degree
program.
Supplemental/Private Student Loans
There are a number of supplemental loan options to
assist students in financing their education. Terms
and credit requirements vary by loan program and
are set by the specific lender.
For additional information on alternative financing options,
please visit studentfinance.northeastern.edu/billing-
payments/financing-options.
Any remaining balance represents the amount you will have to pay from your own resources. You may
pay by the quarter, use a monthly payment plan, apply for a supplemental loan, or use a combination of
these options. For additional information regarding payment methods, please visit
studentfinance.northeastern.edu/billing-payments/payment-methods.
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Alternative Financing Options
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Types of Financial Assistance
Federal Direct Loan
Graduate students are eligible for the Federal Direct Unsubsidized Loan program. The interest
on the unsubsidized loan begins to accrue from the first date of disbursement.
Students borrowing loans for the first time at Northeastern University need to complete the
following documents for the loan to disburse to their student account:
1. Federal Loan Entrance Counseling: Entrance Counseling can be completed online at
studentloans.gov. First, log in using your Federal Student Aid ID (FSA ID). If you do not
have your FSA ID, instructions are provided on how to create one. After signing in,
select “Complete Entrance Counseling” and follow the instructions to complete the
session.
2. Master Promissory Note (MPN): This form can be completed online at
studentloans.gov. Once you have logged in using your FSA ID, select “Complete Loan
Agreement for a Subsidized/Unsubsidized Loan (MPN)” and follow the instructions to
complete the form.
3. Title IV Credit Authorization: This form is completed on your myNortheastern
portal. Once you have logged in, choose “Services & Links,” click on “My Financial Aid
Status,” then “Applications” from the drop down menu. For additional information
regarding the Title IV Credit Authorization, please click here.
Once the documents listed above have been completed, the Federal Direct Loan will disburse
into your student account at the start of the academic term (typically, this is on the first day of
classes).
Double Husky Scholarship
The Double Husky Scholarship is available to Northeastern alumni to assist in financing their
graduate education by providing a tuition discount of 25 percent on more than 110 eligible
degree programs. Please visit the Double Husky website for more information,
northeastern.edu/graduate/admissions-information/scholarships/double-husky-
scholarship.visit
Aggregate Loan Limits
The federal government establishes limits on
the amount of loans that will be offered to
students. Graduate students are allowed to
borrow to the following maximums, which
includes undergraduate loans:
$65,000 in Federal Direct Subsidized Loan
funds (no longer offered to graduate students
after 2012-2013 academic year)
$138,500 total in Federal Direct Loan funds
(includes subsidized and unsubsidized loans)
Loan Repayment Options
Federal Direct Loans enter repayment six
months after you have completed your degree
or are no longer enrolled in six or more
credits. While not in official repayment,
students can make interest-only payments on
their Federal Direct Unsubsidized Loans to
help minimize capitalized interest.
The standard repayment period is 10 years;
however, there are a variety of repayment
options available to students. For more
information, visit:
studentaid.ed.gov/repay-
loans/understand/plans
.
For a complete overview of available sources of financial assistance, please visit
studentfinance.northeastern.edu/applying-for-aid/college-of-professional-studies/types-of-aid.
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How do I accept my award?
We assume that you accept all aid provided in your Offer of Financial
Assistance. You do not need to submit any additional information to accept the
financial aid offered.
What if I want to reduce or decline a portion of my aid?
If you wish to reduce or cancel any of the funds you have been offered, please
contact your financial aid counselor or email cpssfs@northeastern.edu.
How can I use my financial aid to pay for my living expenses and/or
books?
If your awarded financial aid in addition to any outside resources you are
receiving exceed your billed charges you may be eligible for a refund to assist
with other non-billed costs such as living and personal expenses, books, etc.
Students that have excess funds on their account can apply for a refund on
their myNortheastern portal. Refunds are reviewed after the start of the term
and the typical review process can take up to 2-3 weeks. For this reason, we
recommend that students have a plan in place to pay for the first month of
their living expenses for the semester.
Some students may be eligible to receive a book voucher for use at the
Northeastern University bookstore to assist with the purchase of books. To be
eligible, your awarded financial assistance must exceed your billed costs. To
confirm your eligibility, and to receive a voucher, please contact us via email at
cpssfs@northeastern.edu.
How much will I owe?
To estimate your balance for each term, deduct the per-term subtotals listed on
the “Awards” section of your myNortheastern from the estimated tuition figures
provided on your award notification. Please remember than an origination fee is
deducted from each Federal Direct Loan disbursement. As a result, the amount
which disburses to your account will be less than the award amount on your
myNortheastern.
How will my financial aid pay the balance owed? When will my aid
disburse to my account?
Your financial aid funds will be reflected as anticipated or pending on your
student account. Provided all required documents, such as Master Promissory
Notes (MPN) and Title IV Credit Authorization Forms have been completed, your
financial aid will disburse to your account after the start of the term.
I am taking more (or less) credits than listed in my financial aid award
notification. How can I have that adjusted?
Your Offer of Financial Assistance is based upon an estimated number of credits
for each academic quarter. If you would like to adjust the credits used to create
your award, please complete the “CPS Credit Change Form” located under
“Applications” on your “My Financial Aid Status.” The information provided will
be reviewed by your financial aid counselor. In the event there is a change in
your financial aid award, you will be notified electronically.
354 Richards Hall
Northeastern University
360 Huntington Avenue
Boston, MA 02115-5000
617.373.2897
617.373.8735 (fax)
studentfinance.northeastern.edu
cpssfs@northeastern.edu
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