Undergraduate Financial Aid Information for Parents
Northwest University understands that often times financial aid is a new process for a parent as well as a student. This page is a guide specifically for parents to assist in their child’s pursuit of higher education.
Types of Aid
Financial aid is offered 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, Student Financial Services is able to offer students 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, academic achievement, talent, class level, and need.
Northwest University has grant and scholarship programs. Many students receive gift aid; it is possible that your student may be eligible for some form of gift aid. To qualify for a scholarship or grant through Northwest University your student must demonstrate one of the following: financial need, a particular talent or academic ability.
Federal Parent Loan (PLUS)
Federal PLUS Loans are available for parents of enrolled dependent students (as determined by the FAFSA). It is the only form of federal financial aid that a parent is able to receive on behalf of his/her student. A parent’s eligibility is based on his or her credit rating that is assessed by the Department of Education (www.studentloans.gov). Amounts will vary, but the maximum amount a parent is eligible to borrow is the student’s estimated budget minus his/her financial aid. An application is required annually.
Repayment of principle, which can be deferred while student is in school, and interest begin 60 days after the last disbursement of funds. See more information about the interest rate.
Other Types of Aid
All other types of financial aid are offered to the student themselves. To see all other aid available, please use the Financial Aid navigation menu.
In an effort to keep all student information safe and secure, financial and student account information will only be discussed with those to whom the student has granted permission.
Obtaining Your Student’s Information
Once a student is enrolled at NU, Student Financial Services will only disclose student account and Financial Aid information to individuals who are listed as Authorized Delegates on the student’s profile. To have a parent added, the student should go to his or her profile page and choose “Manage My Delegates.” The student will be prompted to add the Delegate’s full name, relationship to student, and a passphrase. Once added, the student must click the green “Authorize Delegate -Student Financial Services” button to activate the authorization.
Some students may opt for additional protection under the FERPA (The Family Educational Rights and Privacy Act of 1974). In this case only the individual student will be allowed access to information regarding their financial aid status.
Completing the FAFSA
Parents of dependent students are required to complete a parent portion of the Free Application for Federal Student Aid (FAFSA). Here are some tips to help you quickly and successfully do your part.
Encourage Your Student to File Online
Completing the online application is quick and secure. The online form is especially convenient for parents and students that are not living in the same state or country because it allows both parties to complete and sign the application quickly and without the hassle of having to mail the application back and forth.
Get a Federal Student Aid ID
When filing online, both you and your student will have to apply for a Federal Student Aid ID (FSA ID) through the Department of Education. The FSA ID is considered your electronic signature and is valid as your actual signature. It is important to keep your FSA ID because it is used as your signature on any US Department of Education document. You need only to apply once for an FSA ID, and you are able to use it for more than one of your children. Apply for an FSA ID now!
FAFSA Prep Checklist—What You’ll Need
- Name of parent(s)
- Social Security number(s)
- Date(s) of birth
- W-2 Forms*
- Federal Income Tax returns*
- Current bank statements and records of stocks, bonds, and other investments*
- Records of other untaxed income received*
- Your business or farm records, if applicable*
File Your Taxes ASAP
A completed Federal tax return is helpful when completing the FAFSA, so it is important that you file as soon as possible so that your child’s financial aid offer package is as accurate as can be. Also encourage your student to file their taxes ASAP. If a student is selected for the verification process they will need to provide tax transcripts which they can request from the IRS.
Print the FAFSA on the Web Worksheet
There is a worksheet available for print on the FAFSA website in case you want assistance in completing the FAFSA. Encourage your student to do the same.
Save Your Work!
Be sure when completing the FAFSA online to save your work in case you need to come back to it later. Save your work by clicking on the save button on the FAFSA site.
Ask for Help
If you ever find that you are stuck or confused about a question, there is free help available to you on the site. Just click on any of the help buttons, or you can even chat with a customer service representative by clicking the chat button. If you need help with the FAFSA, call 1-800-4-FED-AID or call our office at 425-889-5210, and we’ll be glad to help you.
Sign the FAFSA Application
Remember that your child’s FAFSA is NOT valid until both the student and the parent have signed the FAFSA. If you are unable to sign the online form with an FSA ID, remember to print the signature page to mail in.
Click the Submit Button
A very simple, but very important step—remember to submit your information so that your student’s application is complete. Financial Aid cannot be offered to anyone with an incomplete FAFSA.