Financial Aid

This is a Q & A guide to Financial Aid and Payment Options for the IDS Online program. If you have further questions regarding financial aid or your student account, please call 1.800.NLU.TODAY, extension 5350.

Can I afford the IDS Online program?

Yes. Last year, National-Louis University students received over $70 million in some form of financial assistance, including federal student loans. More than 60% of our students receive federal student aid, and most graduate students can borrow from the Federal Stafford Loan program, with a current interest rate of 3.42%, regardless of income. The demand for quality online programs at private universities is increasing.

National-Louis University is responding to this need for affordable, excellent, and accessible education.
The M.Ed. in Interdisciplinary Studies in Curriculum and Instruction program reduces your overall cost of a college degree:

• The program is offered in consecutive quarters, accelerating degree completion.
• The tuition rate for the core program is locked in for the duration of the program.
• The online format eliminates many miscellaneous costs, such as transportation and childcare.

How do I apply for aid?

There are three to four simple steps, depending on the student.

1. First, go to U.S. Department of Education's PIN Registration site, at www.pin.ed.gov. Request a personal identification number (PIN). This takes about two minutes, and you will receive your PIN via email in 8 to 24 hours. The PIN serves as your electronic signature and provides you with access to information. You only need to do this once. Your PIN does not expire.

2. Now you are ready to complete the Free Application for Federal Student Aid (FAFSA). You can complete the paper version and mail it to the Department of Education (DOE) in the envelope that comes with the form, or you can complete the FAFSA online at www.fafsa.ed.gov and sign it with your new PIN. Whether you choose paper or electronic, you can check the status of your FAFSA online by using your PIN. The FAFSA asks for the code of the school you plan to attend. NLU's code is 001733. DOE will process your FAFSA and automatically send NLU your information and the results.

3. For about 60% of NLU M.Ed. students, once the FAFSA is submitted, the financial aid application process is complete! Other students are required to provide additional information or documentation. Some students are randomly selected, some do not complete all required questions on the FAFSA, and some do not automatically meet the data matches DOE performs against other federal databases. DOE will tell us if you are selected for verification and we will send you a detailed letter explaining any remaining steps you need to complete.

4. After the FAFSA results and any other requested documents are received and have been reviewed by NLU, we will send you a financial aid award letter listing the maximum loan amounts that you are eligible to receive for the terms in the current academic year. The letter will include a loan acceptance worksheet. You will need to compete the worksheet indicating any amount, up to the maximum offered, that you choose to borrow and return it to NLU in the enclosed envelope.

You must reapply for financial aid each academic year.

What can I expect to receive?

The primary source of financial assistance for graduate students is the Federal Stafford Student Loan program.

If you are:

• a U.S. citizen or eligible permanent resident,
• have a valid Social Security number,
• have registered for Selective Service or are not required to do so,
• are fully admitted to your degree program,
• have not been convicted of a drug-related offense,
• have not defaulted on a prior student loan or exceeded your lifetime loan limit,
• attend at least half-time (at least 4 hours per term for graduate students),

then you are eligible to receive a Federal Stafford Student Loan, regardless of income.

The annual limit for the Stafford Student Loan for graduate students is $18,500 per year. Depending on your income, up to $8,500 of this amount may qualify for a federal interest benefit. Federal regulations require annual loan limits to be measured in academic years. A student may not exceed the annual loan limit during an academic year. When the student begins a new academic year, they regain eligibility for a new annual loan limit. At NLU, the academic year is Summer, Fall, Winter and Spring.

Your annual loan limit will be divided over the number of terms you attend in an academic year, up to the total cost of education for that year. For example, if your program begins in January with a winter term, the first academic year will include only two terms, Winter and Spring. You may be eligible for $9,250 per term or $18,500 for the academic year. However, the following academic year will include four terms - Summer, Fall, Winter, and Spring - and the annual loan limit of $18,500 limits the amount you can borrow to $4,625 per term. In general, an M.Ed. IDS Online student can receive $36,000 in loan funds during the course of the program.

What else do I need to know about my Financial Aid options?

While Student Loans provide an affordable and convenient way to finance your investment in a college degree, a loan is the final funding option. A Stafford loan cannot exceed the total cost of education when combined with all other resources, including outside scholarships and employer educational benefits.

When and how will I receive loan funds?

NLU will receive the loan funds directly from your lender during the third week of each term. We will apply those funds to your tuition for the term. If the loan funds exceed your charges, we will issue you a check for the balance. The NLU check will be mailed to your home address.

In addition to Student Loans, what are my other options for paying my tuition?

1. You may pay on a term-by-term basis. The tuition and fees for the term are due by the first day of each term.

2. You may pay for each term under the deferred payment plan, by making three payments per term. The first payment is due on the first day of the term, the second payment is due on the 30th day, and the final payment is due on the 60th day of the term. There is a $35 fee for this option that is due with the first payment.

3. If you qualify for an employer-sponsored tuition benefit, NLU offers you two options:

a. If your employer will reimburse you, you may pay 25% of term charges by the first day of the term. The remaining 75% is due thirty days after grades for the term are posted. If your employer reimburses at less than 75%, you will be responsible for the full amount not paid by the employer.

b. If your employer will pay NLU directly, we will bill the employer for qualifying term charges.

To qualify for either employer benefit option, you must submit a letter from your employer stating that you qualify for tuition reimbursement and a copy of your employer's reimbursement policy. Any portion that is not be covered under the employer's benefit plan may be paid by the term-by-term or deferred options.

If you have questions regarding your financial aid or your student account,
please call 1.800.NLU.TODAY, extension 5350.