Components of an Aid Package

A financial aid package is typically composed of a variety of aid sources, including student loans, student employment, scholarship and grant assistance.  Need-based loans and work-study are referred to as the self-help component of an aid package. It is called self-help because it is the students financial contribution toward their own educational expenses.  Grants and scholarships are forms of financial aid that do not need to be repaid.   Self-help, scholarships and grants are awarded on the basis of financial need at Northwestern University.

Financial aid consists of two basic types: institutional aid and government aid.  Data from the Free Application for Federal Student Aid (FAFSA) determines eligibility for federal and state aid and the CSS Profile determines eligibility for institutional (Northwestern) assistance.  Assistance from either source could be in the form of scholarships, grants, self-help (need-based loan or work-study), or non need-based loans.

Student Loans

Students and parents may be eligible for a variety of federal, institutional, and private loans.  This type of assistance will need to be repaid to its funding source.

Federal Loans
The federal government offers students two types of need-based loans: the Federal Subsidized Stafford Loan and Federal Perkins Loan. The government also offers two types of loans for families that do not demonstrate financial need: the Federal Unsubsidized Stafford Loan (for students) and the Federal PLUS Loan (for parents).

Institutional Loans
Northwestern offers parents the financing option of the NU Loan and NU Supplemental Loan (after the NU Loan has been maximized).

Private Loans
A number of private outside agencies allow students and parents to borrow up to the cost of attendance, minus any financial aid received by the student.

More information can be found on the various loan programs is available on our Student Loans page. 

Scholarships & Grants

A number of federal, state and institutional programs offer need-based scholarship or grant assistance to eligible undergraduates.  This type of assistance does not need to be repaid.

Federal Grants 
The federal government sponsors several grant programs: the Federal Pell Grant and the Federal SEOG (Supplemental Education Opportunity Grant), which supplements the Pell Grant for students with high need.

State Grants 
Illinois' Monetary Award Program (MAP) is a grant program for Illinois residents. Other states may also provide grants for their residents. To be considered for a state administered program, students must complete the FAFSA by the state's deadline and check the box indicating that the U.S. Department of Education should forward their information to the appropriate agency for their state of residency.

Institutional Scholarships 
Approximately half of all undergraduates receive NU Scholarships, which are awarded on the basis of demonstrated financial need and availability of funding.

More information can be found on Scholarships and Grants by clicking "Scholarships and Grants" in the Related Links box above.  

Student Employment

The "self-help" portion of an aid package often includes part-time employment, either through the Federal Work-Study Program or through outside employment.

Federal Work-Study
If a student has demonstrated need and funding is available, a Federal Work-Study (FWS) award is provided. Federal Work-Study jobs are available both on- and off-campus.

Outside Employment
If a student is not eligible for Federal Work-Study or if he or she already has a job outside the FWS program, the aid package may indicate the expected academic-year work contribution as outside employment.  Further information and assistance finding part-time outside employment can be obtained from the University Career Services Office.

More information can be found on Student Employment is available on our Student Employment page.

Outside Scholarships

An outside scholarship is any scholarship not awarded by the government or the University, such as a scholarship provided by a private sector company, philanthropist or foundation.  Students are required to report any outside scholarships that they receiving, as they are considered to be a part of your financial resources and must be taken into account with any other financial aid received. 

Because outside scholarships are a financial resource, the financial aid award will need to be adjusted accordingly. Northwestern's policy is to reduce self-help first (subsidized loans and Federal Work-Study), and then University Scholarship assistance.