Financial Aid - Types of Aid

Financial aid is awarded in four categories - grants, scholarships, loans, and Work Study - and comes from several sources - federal and state governments, private donors and Northwest University. By utilizing a combination of several types of aid originating from various sources, the Financial Aid Services Office is enabled to award students with a "package" of aid. This package can include gift aid (grants and scholarships) and self-help aid (loans and Work Study). Funds are assigned based on a variety of factors: state residency, enrollment status, class level, and need.

Federal Student Aid

Federal Aid is available to all students, whether they are an incoming Freshman or a Transfer student. To be eligible for Federal Aid, you must be a U.S. citizen, or eligible non-citizen. To apply for Federal Aid, you must submit a Free Application for Federal Student Aid (FAFSA).

Up to 4% of the total amount of the Federal Subsidized Stafford Loan or Unsubsidized Stafford Loan may be deducted by the bank or guarantee agency. In addition, if a student graduates or ceases to attend half time, he or she is required to complete an exit loan counseling session for their Federal Subsidized Stafford Loan or Unsubsidized Stafford Loan.

Federal Pell Grant

Eligibility:	Financial need as determined by the Free Application for Federal Student Aid.
Amount:	Amount varies based upon Federal funding. For the 2007-2008 academic year, the amount ranges from $400 - $4,310.
Renewal:	Must re-apply for financial aid and maintain satisfactory academic progress. Federal Supplemental Educational Opportunity Grant (FSEOG)

Federal Supplemental Educational Opportunity Grant (FSEOG)

Eligibility:	Financial need as determined by the Free Application for Federal Student Aid. Priority is given to Federal Pell Grant recipients.
Amount:	Amount varies each year based upon school allocation.
Renewal:	Must re-apply for financial aid and maintain satisfactory academic progress.

Federal Subsidized Stafford Loan

Eligibility:

Financial need as determined by the Free Application for Federal Student Aid.

Amount:

Amounts are based upon the number of cumulative credits a student has earned. The following chart lists the requirements:

Class	Credits	Amount
Freshmen	00 – 29	$3,500/year
Sophomore	30 – 59	$4,500/year
Junior	60 – 89	$5,500/year
Senior	90+	$5,500/year

Renewal:

Must re-apply for financial aid and maintain satisfactory academic progress.

Interest Rate:

The interest rate is a fixed rate of 6.8%, effective July 1, 2006.

Repayment:

Begins six months after the student graduates or ceases to be enrolled at least half-time. Interest is deferred as long as the student is enrolled at least half-time.

Terms:

To receive a Federal Subsidized Stafford Loan, you must submit a Loan Request Form.

In addition, first time borrowers at Northwest University must complete an entrance counseling session online. Follow this link to complete the entrance counseling on-line. The entrance session will explain your rights and responsibilities as a borrower.

A Master Promissory Note must be completed with the lender selected to handle your Stafford loans. This promissory note can be completed on-line or forms are available in the Financial Aid Services Office. Instructions will be included with your Award Letter.

Federal Stafford Loan funds are sent to Northwest University from the lenders by Electronic Funds Transfer (EFT). EFT funds will be credited directly to the student’s account. However, if the loan funds are sent by paper check, the Financial Aid Services Office will contact the student borrower and they must sign the loan check before the funds can be credited to their account. Please note that the bank or guarantee agency keeps a portion of the loan (up to 4%) as a loan fee, according to federal laws.

Federal Unsubsidized Stafford Loan

Eligibility:	Not need-based
Amount:	Amounts are based upon the number of cumulative credits a student has earned. The credit requirements and amounts are the same as for the Subsidized Stafford Loan. Some students are considered independent according to the Free Application for Federal Student Aid. In that case, additional amounts are available: Freshmen/Sophomore - $4,000 Junior/Senior - $5,000
Renewal:	Must re-apply for financial aid and maintain satisfactory academic progress. Interest Rate: Interest rate and terms are the same as for the Subsidized Stafford Loan.
Repayment:	Begins six months after the student graduates or ceases to be enrolled at least half-time. Borrowers are responsible for interest while they are enrolled and during the repayment period. However, interest payments can be deferred while a student is enrolled and during their grace period.
Terms:	Eligibility is based on independent status or dependent students who are not eligible for the Subsidized Stafford Loan. Interest rates, loan fees, and terms are the same as for the Federal Subsidized Stafford Loan.

Washington State Aid

Washington State aid is only available to Washington State residents, but is available to both incoming Freshmen or Transfer students. To be considered a resident, the following must be true:

For independent students (according to the Free Application for Federal Student Aid), the student must have a domicile (home) in the State of Washington at least one year before the first day of classes.

In addition, a student cannot be pursuing any ministerial academic program to be eligible for Washington State aid (contact the Financial Aid Services Office for details).

Washington State Need Grant

Eligibility:	Must show financial need as determined by the Washington State Need Grant formula.
Amount:	Amount varies each year based upon Washington State funding. For the 2007-2008 academic year, the maximum amount is $5,798.
Renewal:	Must re-apply for financial aid and maintain satisfactory academic progress.
Application:	Free Application for Federal Student Aid (FAFSA)

Institutional Aid

Priority is given to students at a full-time enrollment status. If a student is enrolled for less than full-time, their financial aid may be prorated. Recipients must maintain satisfactory academic progress.

Over the Top Grant

Eligibility:	Student must have 60 credits earned and be accepted to core LEAP program (ie. last three semesters towards a B.A. Degree). Student must demonstrate financial need by completing the FAFSA and student must be enrolled full-time, and must maintain satisfactory academic progress.
Amount:	Varies, depending on need. The award, plus other financial aid resources, are not to exceed the cost of tuition and fees.
Renewal:	Based on annual review of eligibility and financial need.

Bridge the Gap Grant

Eligibility:	The Bridge the Gap Grant is designed to help students with 0-59 credits cover the tuition and fees that federal, state, and outside aid does not cover. The student must be enrolled full-time (at least 12 credits per semester) and have financial need (as determined by the FAFSA). The student must maintain satisfactory academic progress.
Amount:	Varies, depending on need. The award, plus other financial aid resources, are not to exceed the cost of tuition and fees.
Renewal:	Based on annual review of eligibility and financial need.

Assemblies of God Tuition Credits

Eligibility:	Student must qualify under one of the following: 1. Licensed or Ordained A/G Minister. 2. Licensed or Ordained A/G Chaplain, (A/G Minister/Chaplain must have been licensed or ordained with the Assemblies of God for at least one year prior to the beginning of the academic year). 3. Full-time administrator/teacher at an A/G Christian School (K-12), (Administrator/teacher must have been employed in current position for at least one year prior to student enrollment).
Amount:	Tuition credits are based on need, up to 50% of tuition.
Renewal:	Based on annual review of need and eligibility requirements.

Northwest Missionary Tuition Credit

Eligibility:	Full time missionary, currently serving outside the U.S. under appointment of a recognized Missions Board.
Amount:	Up to 50% of tuition.
Renewal:	Based on annual review of need and eligibility requirements.

Northwest Tuition Credit

Eligibility:	Student must qualify under one of the following: Staff, faculty, or board member of Northwest University or spouse of a staff, faculty, or board member of Northwest University.
Amount:	Varies. See Human Resources for more information.

Work Study

The purpose of the Northwest University Work Study program is to provide financial assistance to needy students by facilitating part-time employment. To participate, you must be awarded Work Study as part of your financial aid package.

Work Study is more than just a job – it’s also job experience. You may find employment either on-campus or off-campus, depending upon your major. All monies you earn from working are paid directly to you by your employer in the form of a paycheck.

The Work Study award amount on your Award Letter notifies you of the gross amount that you may earn that is considered “Work Study”. For example, if your Award Letter says you have $2,500 worth of Work Study eligibility but you earn $3,000 from your job, $2,500 is considered “Work Study” and $500 is not.

The difference between Work Study and regular employment is that the wages you earn on the Work Study program are not considered in the federal methodology when need is being determined for the following year. Work Study earnings are taxable and are included on a student’s tax return. They are also reported as work earnings on the Free Application for Federal Student Aid (FAFSA). However, Work Study earnings are also counted as a Title IV Exclusion in another section of the FAFSA, effectively decreasing the amount of income available to go toward the Expected Family Contribution (EFC).

If you have any questions about Federal Work Study or Washington State Work Study, please contact the Work Study Coordinator in the Financial Aid Services Office at 425.889.4090.

Federal Work Study

This Federally-funded program provides on-campus jobs to students with demonstrated financial need according to the Free Application for Federal Student Aid. To apply for an on-campus job, you must submit an Application for Employment to the Human Resources Office. You may obtain an application by contacting the Human Resources Office at 425.889.4203. An interview with the area supervisor is also required for placement. Students work an average of 12-15 hours per week, depending upon the position. Positions filled by Federal Work Study students include, but are not limited to, departmental offices, library, technical services, custodial, food services, or grounds maintenance.

Washington State Work Study

This program, funded by the State of Washington, provides off-campus employment opportunities to students with financial need according to the Free Application for Federal Student Aid. Once you have acquired a job, contact the Work Study Coordinator so that you may be provided with timesheets and other documents if necessary.

Students are not eligible to work on the Washington State Work Study Program if they are pursuing a ministerial academic program (contact the Financial Aid Services Office for details). Washington State Work Study placements should be related to academic or career goals. However, if no job fits into your goals, you may find employment with any of the employers.