Student Financial Aid
Student Financial Aid
In an effort to assist students in their pursuit of a comprehensive Christian education, NNU is committed to providing scholarships, grants, state and federal funds (Title IV aid) to eligible students.
The awarding of financial assistance to students is primarily for the purpose of:
- Recognition of achievements
- Assisting students in acquiring a college education at NNU
- Recruiting and retaining students
The University believes that the following objectives are consistent with this philosophy:
- Rewarding students for excellence in academic performance
- Rewarding students for achievements that may be other than academic
- Aiding students for whom the pursuit of a college education is an unusual financial hardship
Application for Admission and Financial Aid is a combined process for traditional undergraduate students at NNU. Priority for aid awards (scholarships, grants, loans, etc.) from federally funded and other programs will be given to students who have submitted a completed application (the NNU Application for Admission and Financial Aid and the Free Application for Federal Student Aid--FAFSA) to NNU by March 1st for the following fall's admission. Students must apply for aid from NNU and from federal sources every year. The following information will explain this process in more detail. All institutional scholarships and grants are considered when determining a studentís minimum financial aid award offer.
Demonstration of Need - Northwest Nazarene University uses the Free Application for Federal Student Aid (FAFSA) to determine a studentís eligibility for federal aid. Colleges use the Expected Family Contribution (EFC) from the FAFSA as an index to determine need for aid eligibility. Colleges determine the amount of need by taking the school's cost of attendance and subtracting the EFC, which results in need.
Students should submit a copy of the FAFSA via the web, indicating that Northwest Nazarene University should receive this information by inserting NNUís federal school code, 001624, into the appropriate question. The FAFSA can be completed at www.fafsa.gov and should be filed as early as possible after January 1st each year for the following school year. Tax information can be estimated if need be on the FAFSA, but this information should be updated on the FAFSA once tax documents are submitted to the IRS.
Payment of Financial Aid: Financial aid is disbursed to traditional undergraduate students by crediting half of the yearís total award to the studentís account each semester. Non-traditional accelerated degree-seeking students receive one-third of the year's total award each semester (fall, spring, summer) or it is disbursed equally between the semesters the student is enrolled. If a student is only enrolled for one semester, other regulations may apply.
Requirements for Financial Aid: To receive any financial assistance, students must maintain satisfactory academic progress toward a degree. The Standard of Satisfactory Academic Progress for Financial Aid is available through the Office of Financial Aid or it can be found here.
In order to receive federal aid funds, a student cannot be in violation of academic progress standards, nor can they be in default or delinquent on a previous federal student loan, or have outstanding loans equal to the Federal lifetime limit for borrowing.