Navigating Northeastern University Student Financial Services

Northeastern University offers a comprehensive suite of financial services to assist students in funding their education. Student Financial Services (SFS) is committed to partnering with students, families, and the community to support a successful Northeastern experience. This article provides an overview of the resources and options available to students across various programs, including undergraduate, graduate, College of Professional Studies, and international students.

Accessing Student Financial Services

Students and families can access a wide range of services through the SFS Service Portal, which offers a comprehensive FAQ knowledge base and online forms to manage financial aid and student accounts. The portal provides answers to common questions and allows students to conveniently manage their needs. For additional support beyond the self-service options, the Student Financial Services Inquiry form is the most efficient way to contact the SFS team. Once the form is submitted, a case number will be assigned to the inquiry. The Student Services Portal is also available for students who prefer to establish an appointment to discuss their account. Boston campus walk-in hours are 8:30 AM to 4:30 PM.

Understanding Direct Costs

Direct costs, including tuition, fees, housing, and food, vary depending on the student type and program. Housing and food costs also depend on the assigned residence hall, room occupancy, and meal plan selected. To determine the portion of direct costs that must be met, subtract the amount of any grants or loans offered from the billed expenses. Full payment of tuition, residence hall fees, and other related charges are due before the start of the term, as specified on the original bill.

Financial Aid for Different Programs

Northeastern University offers a multitude of resources to help students finance their education. These resources are available to students in various programs:

Graduate Education: There are resources available to help finance graduate education at Northeastern.
College of Professional Studies: Resources are available to help finance education in Northeastern’s College of Professional Studies programs.
International Students: Northeastern provides international students with resources, support, and guidance as they chart their academic journey.
N.U.in Program: Student Financial Services is available to help students and their families plan how to pay for their education.

Monthly Payment Plans

One way to limit debt is to consider the interest-free monthly payment plan, which allows students to divide their educational costs into smaller, more manageable installments. This plan can reduce the need to borrow, thereby reducing the overall cost of education, and can be combined with financial aid awards or other financing options.

Enrollment and Management

Students or a student’s Authorized User can enroll in a Payment Plan. If the student enrolls, the student is the owner of the plan; if an Authorized User enrolls, that individual is the owner of the plan. This is important because only the owner of the plan can change the payment method. However, either user is able to make a payment towards the payment plan even when they are not the payment plan owner. If an Authorized User wants to sign up for a payment plan, the STUDENT will need to log into Flywire.

The “deadline to enroll” may vary from the billing due date posted on the billing statement. Payment plans are budget-based. If students don’t know their final student account balance, they should enter an estimated balance when enrolling. Once their account balance has been finalized, they should update the amount of the plan to reflect the final balance due.

Loan Options

When additional funding is required, loans can be an appropriate choice for many families. A variety of credit-based loan options are available to parents and students. It is encouraged to research all available options. The maximum amount that can be borrowed is the cost of education less any other forms of financial aid. Loan funds are disbursed directly to Northeastern in equal amounts over each term of enrollment for the academic year.

Federal Direct PLUS Loans

PLUS loans must be processed according to federal regulations, which stipulate that a loan cannot be processed after the end of the loan period.

Parent PLUS Loans: Parent borrowers have up to 25 years to repay their loan. Repayment begins 60 days after the loan has been paid in full to the university. Borrowers may request deferment through their assigned Direct Loan servicer to postpone payments until 6 months after the student graduates from the university or drops below half-time enrollment. If a parent is approved by appeal or with an endorser, they are required to complete PLUS Credit Counseling. If a parent is denied a Federal PLUS loan due to credit reasons, the parent may appeal the denial with the Direct Loan Origination Center or reapply with a credit-worthy cosigner.
Grad PLUS Loans: Students have up to 25 years to repay their loan. Grad PLUS loans do not have a grace period. As such, repayment begins after the student is no longer enrolled at least half-time. If a borrower is approved by appeal or with an endorser, they are required to complete PLUS Credit counseling.

Private Education Loans

Education loans vary by lender. Before applying for a private loan, students should always exhaust all of their federal loan eligibility. The Office of Student Financial Services encourages students and families using private loans to apply for one full academic year at a time rather than on a per-semester basis. This prevents multiple hits on the borrower’s credit report and ensures that a student has a way to cover their costs for a full academic year. It is recommended that students apply for a private loan with a co-signer, as a co-signer assumes responsibility for a loan should the borrower fail to repay. Having a co-signer on the loan often results in a lower interest rate and reduced fees.

To help facilitate the private loan search, Northeastern has partnered with ELM Select, a tool that allows students to compare private loans from multiple lenders. Based on the search criteria, ELM Select will display a neutral list (in random order) of private lenders that Northeastern students have borrowed from within the past three years. Students are not required to use any of the lenders listed on ELM Select. Northeastern will process loans from any eligible lender the student chooses and will not deny or impede the borrower’s choice of a lender or cause unnecessary delay in loan certification for those borrowers who choose a lender not listed on ELM Select.

Tuition and Fees

Tuition and fees differ between undergraduate students, graduate students, students in the College of Professional Studies, and students in the School of Law. Additional fees may apply based on outside factors such as residency, meal plan, and parking.

Direct Deposit

Direct deposit is available for student account refunds, payroll, and all other reimbursements from the university.

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