Frequently Asked Questions About Financial Aid
- What is financial aid?
- How do I apply for financial aid?
- What is FAFSA exactly?
- Is it true that most students with a full-time job make too much money to get financial aid?
- When should I apply for financial aid?
- Do I have to reapply for financial aid each year?
- Which parent's tax information do I need if my parents are divorced?
- How and when will NLU get the results?
- I received a letter that I was selected for verification. What do I have to do?
- Okay, I’ve completed my FAFSA, now what?
- I received a letter that I’m in default with a student loan. What can I do to regain financial aid eligibility?
- What if I have unusual circumstances concerning my dependency or financial status? Will this change my EFC?
Frequently Asked Questions About Stafford Loans
- What is the difference between subsidized and unsubsidized Stafford loans?
- What is the interest rate?
- What is a Master Promissory Note? Do I have to complete one?
- Do I need to complete a Title IV Fee Authorization Form?
- What is the origination fee?
- How much should I borrow?
- When will I receive the loan funds?
- Will I get a refund? When?
- Why is my Federal Stafford loan scheduled for 2 disbursements for my one term?
- What do I do if my parents do not qualify for a Federal PLUS loan?
- How can I find out the total amount of loans that I have borrowed?
- When do I have to begin repaying my loans?
- How do I defer my loans?
- Do I have to make satisfactory academic progress in order to receive financial aid?
Frequently Asked Questions About Perkins Loans
- Am I eligible to receive this loan?
- What is the interest rate and the grace period for this loan?
- Are there any fees associated with the loan origination?
- Why am I required to complete Entrance Counseling? I think I already completed it.
- Why do I have to fill out a new Perkins Authorization Form?
- I received a letter in the mail informing me that a Perkins loan disbursement has been made to my account. What does that mean? Will I get a refund?
Frequently Asked Questions About Student Accounts
- Is it necessary to complete the Promissory Note each term?
- Do I have to pay the $95 tuition deposit?
- What if I wish to change my option?
- Do I have to sign up for a payment plan if I am covered in full by financial aid?
- How much is the tuition? Are there any additional fees?
- What is my balance?
- When is the balance due?
- I chose the deferred payment plan as my primary payment plan. How much are my payments and when are they due?
- What will happen if my account is past due?
- What if my account is past due for the current term and a new term is beginning? Will the charges carry over into the next term?
- Why did I receive a statement? I have a zero balance.
- If I receive financial aid (or other funds) that is in excess of tuition/fees, will I receive a refund?
- What will happen if I withdraw from classes?
- I need an itemized tuition reimbursement invoice. How can I get that?
- What is the student fee?
Frequently Asked Questions About the 1098-T Tax Form
- What is the 1098-T form?
- Why did I receive a 1098-T tax form and what am I supposed to do with it?
- Did you send a copy to the IRS?
- What educational expenses are considered as qualified tuition and related expenses?
- Why isn't there an amount in box 1?
- What other information do I need to claim the tax credit?
- What are the Hope Credit and the Lifetime Learning Credit and what are allowable tuition and fee tax deductions for each?
- What is the American Opportunity Credit?
- I paid my qualified tuition and related expenses with student loans. Can I still claim a Hope or Lifetime Learning Tax Credit or the Higher Education Tuition and Fees Deduction?
- If I pay college tuition and fees with a scholarship, can I claim an education credit on Form 8863 for those payments?
- Where can I find out more about educational tax credits and deductions?
- My address listed on the 1098-T has changed. Will this affect me?
- How do I get a reprint of my 1098-T form?
- How can I get an itemized listing of my financial activity that is on my 1098-T form?
- What is NLU's Tax Identification Number?
- What if I still have questions?