How to Apply for Student Loans

FEDERAL DIRECT LOANS (SUBSIDIZED & UNSUBSIDIZED)

Application Process:

FEDERAL DIRECT PLUS LOANS (PARENT)

Application Process:

  • Dependent student must complete a FAFSA to determine their eligibility for Federal Student Aid
    • Note: students must first fully utilize their federal student loan eligibility before their parent can receive a Parent PLUS Loan.
  • Parent must complete a Federal PLUS Loan Application & Credit Check online http://studentloans.gov.
    • Approved credit checks are good for 180 days
  • Parent of dependent student must completeParent PLUS Loan Request form
  • First time borrowers for the Parent PLUS Loan at Northwest University must also complete a PLUS Loan Master Promissory Note at http://studentloans.gov.

FEDERAL DIRECT PLUS LOANS (GRADUATE)

Application Process:

  • Graduate student must complete a FAFSA to determine their eligibility for Federal Student Aid
    • Note: students must first fully utilize their federal student loan eligibility before receiving a Graduate PLUS Loan.
  • Graduate student must complete a Federal PLUS Loan Application & Credit Check online http://studentloans.gov.
    • Approved credit checks are good for 180 days
  • Graduate student must completeGraduate PLUS Loan Request form
  • First time borrowers for the Graduate PLUS Loan at Northwest University must also complete a PLUS Loan Master Promissory Note at http://studentloans.gov.

ALTERNATIVE (PRIVATE) LOANS

Application Process:

  • Apply directly through a lender’s website for a private student loan.
  • The lender will send notification to the Financial Aid Services Office electronically to request certification of the private loan.
  • Then the Financial Aid Services Office will then certify the loan and request the funds from the lender.
    • Private loans generally take several weeks for processing, so please plan accordingly and apply early!
  • FastChoice is a loan comparison tool to help you find a private student loan that fits your needs.

LOAN DISBURSEMENT PROCESS

All student loan funds are sent to the university from lenders by Electronic Funds Transfer (EFT), and credit to the student’s account directly. Students are notified via e-mail when their loan funds have been disbursed.

To return loans that have already been disbursed to your account:
You have 14 calendar days to decline or reduce a loan from the date of the disbursement.
You must contact Financial Aid to return student loans.

For more information on Federal Direct Loan Processing, visit http://studentloans.gov.