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Funding your Education

General Funding Information

Northwood University offers several means of funding your education. The resources available guide you as steps to securing funding for your education.

Freshmen Merit Scholarships

• Awarded to new freshmen beginning in 2010-2011
• Based on GPA and ACT/SAT test scores.
• Four award levels:
• Presidential - $9,000
• Freedom - $8,500
• Free Enterprise - $6,500
• Entrepreneur Grant - $4,000
• Renewable for three additional academic years if satisfactory academic progress is maintained.

Athletic Scholarships

• Amount: Determined by coaches.
• Must meet NAIA eligibility requirements.

Family Tuition Grant

For new incoming Fall 2010 students: If two or more dependent students from the same family attend full time in the traditional program for the Fall and Spring semesters, each student will receive $2,000 for the spring semester assuming the incoming student has committed by May 1, 2010. After May 1, the discount is reduced to $1,500. 

For returning students: If two or more dependent students from the same family were enrolled at Northwood in the 2009-2010 academic year and attend full time in the traditional program for the 2010-11 Fall and Spring semesters, each student will receive $2,000 for the spring semester.

Business Club Scholarships - Incoming Freshmen

All incoming freshmen who have participated during their senior year in one of the business clubs must have a 2.7 GPA and have submitted a letter of recommendation from their advisor. Additional criteria is described below for the various club scholarships.

DECA, BPA, FBLA, JA, FCCLA

• $4,000 ($1,000/year)
• All incoming students that have participated in one of the business clubs may qualify. Must have a 2.7 GPA and have submitted a letter of recommendation
• $10,000 ($2,500/year)
• All state officers, and national or state 1st place winners by category with a 2.7 GPA and letter of recommendation
• $20,000 ($5,000/year)
• All national officers with a 2.7 GPA and letter of recommendation
• Eligibility requirements vary from campus to campus depending on a student's eligibility for other institutional aid.

Downloadable form for Business Club Scholarships

Mock Trial Scholarships

• All incoming students that have competed in a Mock Trial interscholastic tournament may qualify. Must have a 3.0 GPA and have submitted a letter of recommendation: $4,000 ($1,000/year)
• Blue Ribbon Round participants with a 3.0 GPA and letter of recommendation: $10,000 ($2,500/year)
• National Mock Trial interscholastic tournament participants with a 3.0 GPA and letter of recommendation: $20,000 ($5,000/year)
• These scholarships are renewable if a 2.5 GPA is maintained.

Competitive Speech Scholarships

• Contact Coach Andy Rapp at 800.457.7878 for scholarship eligibility requirements

Transfer Scholarships

Transfer Club Scholarships

• Amount: $1000/year
• Must be a member of one of the following programs through the college you plan to transfer from:
• Delta Epsilon Chi
• Phi Beta Lambda
• Business Professionals of America
• Students in Free-Enterprise
• Phi Theta Kappa
• Must have a minimum 2.7 GPA (cumulative), Phi Theta Kappa must have a minimum 3.0 GPA.
• Renewable if 2.5 GPA is maintained.
• Must be enrolled a minimum of two years.

Freedom Transfer Scholarship

• Amount: $7,000/year
• Requires 3.40 GPA or higher
• Must transfer from a U.S. institution and be enrolled at Northwood for a minimum of two years.
• Must maintain Satisfactory Academic Progress

Free-Enterprise Transfer Scholarship

• Amount: $6,000/year
• Requires 3.0 - 3.39 GPA
• Must transfer from a U.S. institution and be enrolled at Northwood for a minimum of two years.
• Must maintain Satisfactory Academic Progress

Entrepreneur Transfer Scholarship

• Amount: $5,000/year
• Requires 2.7 - 2.99 GPA
• Must transfer from a U.S. institution and be enrolled at Northwood for a minimum of two years.
• Must maintain Satisfactory Academic Progress

Private Donor Scholarships

Many Northwood friends and affiliates have generously provided funding for private scholarships for students. View the complete 2010-2011 list.

• Complete the 2010-2011 Online Scholarship Application.

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Grants

Federal

• Federal Pell Grant: Maximum 2009-2010 award is $5,350. Student must complete the Free Application for Federal Student Aid (FAFSA). Eligibility is determined from the results of the FAFSA.
• Federal Supplemental Educational Opportunity Grant (SEOG): Variable amount. Receipt of these funds is limited to students who demonstrate exceptional financial need and who are Pell Grant eligible. Student must complete the Free Application for Federal Student Aid (FAFSA).
• Federal Academic Competitiveness Grant (ACG): First year student $750, Second year student $1300. Must be Pell Grant eligible. Must have completed a rigorous secondary school program. Other academic restrictions apply. Student must complete the Free Application for Federal Student Aid (FAFSA).

Northwood Grants

• Northwood University Grant: Variable amount. Must have financial need as determined by the Financial Aid Office. Student must complete the Free Application for Federal Student Aid (FAFSA). Requires full time enrollment.
• Texas Freshman Grant: $1,500 per academic year. Texas resident for one year prior to enrollment; graduated from a Texas high school within the last 18 months, and has earned less than 12 college credit hours

State

Most states have financial assistance programs. Each state program generally has specific deadlines, application requirements, and restrictions on the use of their funds. Contact your state's Department of Education for more details. For contact information, please click here.

Financial Aid

To be considered for any need based financial aid (that includes student loans), you are required to complete the Free Application for Federal Student Aid (FAFSA). We encourage you to apply online using FAFSA on the Web at www.fafsa.ed.gov. Applying online normally reduces processing time. Help is available. If you prefer a paper FAFSA application, you may request one from the Federal Student Aid Information Center at 1-800-4-FED-AID.

Apply as soon as possible after January 1st of each year. Northwood encourages you to apply before the state aid deadline or April 1st. Read more about your state aid deadline on the FAFSA site.

Before completing the FAFSA online, we encourage you to apply for a PIN, which is your electronic access code. A PIN can be requested from www.pin.ed.gov or www.fafsa.ed.gov. The PIN (personal identification number) will act as your signature on the FAFSA. It also will provide you access to other personal information stored in other federal aid sites. Parent(s) of dependent students should also apply for a PIN. NEVER SHARE YOUR PIN WITH ANYONE.

If you have questions when completing your FAFSA, you can get free help by contacting the Federal Student Aid Information Center at 1-800-4 FED AID or by contacting your Northwood Financial Aid Office. If you are using FAFSA on the web, you can also get help online.

Be sure to include Northwood University's school code on your FAFSA. The FAFSA school code for the Texas Campus is 013040.

After you have submitted your FAFSA to the federal government for processing, you will receive a Student Aid Report (SAR). Review the information. Follow any instructions on the SAR. Be sure Northwood's school code is on the SAR. You may find that your SAR has been selected for verification. If so, you will be receiving a letter from the Financial Aid Office requesting additional information.

Before the Financial Aid Office is able to offer you financial assistance, you must have applied for admissions and been accepted for enrollment at Northwood. After you have been accepted, and the Financial Aid Office has received your SAR from the Department of Education and any requested documentation from you, the Financial Aid Office will mail you an award letter. The award letter will notify you of the types and amounts of aid that you may receive. You will also be able to view your award information at my.northwood.edu.

Loans

Northwood University will participate in the Federal Direct Loan program effective for the 2010-2011 academic year. Listed below is a brief summary of the Federal Direct Loans. All borrowers must complete a Federal Direct Master Promissory Note (MPN). Please note that first time borrowers who receive loans are required to participate in mandatory Entrance Counseling or contact the Financial Aid Office for a personal interview, before loan proceeds will be released. Entrance counseling is not required for returning students who previously completed this requirement. Upon completion of your education, you will be required to participate in Exit Counseling or contact the Financial Aid Office for a personal interview.

William D. Ford Federal Direct Loan (Direct Loan) Program 2010-2011

Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education rather than a bank or other financial institution. The Federal Direct Loan Program offers the following types of loans:

• Dependent undergraduate students: freshman: $5,500 (no more than $3,500 subsidized); sophomore: $6,500 (no more than $4,500 subsidized); and junior/seniors $7,500 (no more than $5,500 subsidized).
• Independent undergraduate students: freshman: $9,500 (no more than $3,500 subsidized); sophomore: $10,500 (no more than $4,500 subsidized); and junior/seniors $12,500 (no more than $5,500 subsidized).

How to Apply for Direct Federal Loans

• Make sure you have completed the Free Application for Federal Student Aid (FAFSA).
• There are two documents needed to complete the loan application process: the Federal Direct Master Promissory Note (MPN) and the Federal Direct Loan Request form. If you borrowed previously, you must complete a new MPN, as your lender is changing to the U.S. Department of Education rather than your bank or other financial institution.

New First-time Borrowers:

1. Complete the Federal Direct Master Promissory Note (MPN) at https://dlenote.ed.gov/empn/StudentLoanSelector.jsp or request a paper MPN from the Financial Aid Office.
2. Complete a Federal Direct Loan Request Form by clicking the Financial Aid Forms link in the left banner of this web page. 
3. Submit the Federal Direct Loan Request Form to the Financial Aid Office.
4. New, first-time student loan borrowers must complete mandatory Entrance Counseling at https://www.dl.ed.gov/borrower/CounselingSessions.do?cmd=initializeContext or contact the Financial Aid Office for a personal interview.

Previous Borrowers:

1. Complete the Federal Direct Master Promissory Note (MPN) at https://dlenote.ed.gov/empn/StudentLoanSelector.jsp or request a paper MPN from the Financial Aid Office. Previous borrowers must complete a new Federal Direct Loan MPN, as your lender is changing to the U.S. Department of Education rather than your bank or other financial institution.
2. Complete a Federal Direct Loan Request Form by clicking the Financial Aid forms link in the left banner of this web page.
3. Submit the Federal Direct Loan Request Form to the Financial Aid Office.

Federal Stafford Loan 2009-2010

Here is a brief summary of the Federal Stafford Loan Program. Paperwork is available online or through the Financial Aid Office. Please note that first time borrowers who receive loans are required to participate in Entrance Counseling before loan proceeds will be released. Upon completion of your education, you will be required to participate in Exit Counseling as well. Both of these requirements may be conducted online or in person at the Financial Aid Office.

Dependent undergraduate students: freshman: $5,500 (no more than $3,500 subsidized); sophomore: $6,500 (no more than $4,500 subsidized); and junior/seniors $7,500 (no more than $5,500 subsidized).

Independent undergraduate students: freshman: $9,500 (no more than $3,500 subsidized); sophomore: $10,500 (no more than $4,500 subsidized); and junior/seniors $12,500 (no more than $5,500 subsidized).

Other Useful Links

• U.S. Department of Education
• VA Education Service
• Internal Revenue Service
• National Association of Student Aid Administrators
• FastWEB
• BrokeScholar.com
• College-Scholarships.com

BEWARE OF SCHOLARSHIP SCAMS. Unfortunately, there are fraudulent scholarship companies. BE CAUTIOUS. For more information on the College Scholarship Fraud Prevention Act, contact the Federal Trade Commission at 1-877-FTC-HELP or go online at www.ftc.gov/scholarshipscams.