How to Apply for Student Loans

FEDERAL DIRECT STUDENT LOANS (Subsidized & Unsubsidized)

Application Process:

FEDERAL DIRECT PARENT PLUS LOAN (Parents of Dependent Undergraduate Students)

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 Parent PLUS Loan Application & Credit Check online http://studentloans.gov.
    • Approved credit checks are good for up to 180 days.
  • Parent of dependent student must completeParent PLUS Loan Request Form
  • First time borrowers of the Parent PLUS Loan at Northwest University must also complete a PLUS Loan Master Promissory Note at http://studentloans.gov.

FEDERAL DIRECT GRADUATE PLUS LOAN (Graduate/Professional Students)

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 Graduate PLUS Loan Application & Credit Check online http://studentloans.gov.
    • Approved credit checks are good for up to 180 days.
  • Graduate student must completeGraduate PLUS Loan Request Form
  • First time borrowers of the Graduate PLUS Loan at Northwest University must also complete a PLUS Loan Master Promissory Note at http://studentloans.gov.

ALTERNATIVE LOANS (Private Loans through 3rd Party Lenders

Application Process:

  • Apply directly through the Lender’s website for a private student loan.
  • Once the chosen Lender has approved the student’s request for a private loan, the Lender will send notification to NU’s Student Financial Services Office electronically to request certification of the private loan.
  • Student Financial Services will review and 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 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 Student Financial Services to return student loans.

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