<p>I applied Early Action and, although I'm still waiting for the news, I think I'm expecting to get in. I like Northeastern a lot, and would happily attend it over more prestigious schools, especially if the financial situation at Northeastern is attractive. My family is at that awkward middle class line where we probably won't qualify for much need-based aid, but we don't feel like we have the money to pay close to full price. I did Northeastern's net price calculator with my dad, and it predicted some, but not much, money given as grant/gift aid. </p>
<p>I'm also currently a National Merit Semifinalist, and since so many people receive Finalist status, I think I should get that as well. On Northeastern's website, it says Finalists can qualify for a $30,000/year or $15,000/semester award. It also says, however, that it may result in a change to "previously awarded Northeastern University Grant funds." Does this mean that the $30,000 award would replace the need-based aid they had previously awarded me? I guess I am ignorant of how need-based and merit-based aid work and work together, but does receiving more merit aid reduce the amount of need-based financial aid I am eligible for? </p>
<p>The short answer is it could for sure. That said, 30k for NMF is a very helpful sum I would think. Would you need more than that to attend?</p>
<p>The long answer is that no one really knows exactly how the two work together, its more at the whim of the university. The way they worded it is exactly as everyone else knows it outside of the financial aid office at NEU. Speculating though, I think the better of an applicant you are, the less your need based will shrink based off your merit based. So if you are a strong applicant with NMF, I would venture to say your need based may not shrink as much as someone who say has a 10k grant and is not as attractive as an applicant. Once again though, all speculation.</p>
<p>If the 30k merit scholarship is greater than/equal to your “need”, then you wouldn’t get need-based aid, because that sum of money would have been fulfilled by your merit scholarship(if you are a Finalist). If, let’s say, your “need” is 37k, you would get the merit scholarship, and then 7k in need based aid(this is not to say that this need based aid will not include some form of loans)</p>
<p>So if the total remaining cost on the net price calculator is still significantly greater than $30k after grants/gifts/student contributions are subtracted, those grants/gifts/student contributions might not be drastically cut down after factoring in a $30k Finalist award? Basically, if the Finalist money stacks with the previously estimated need-based aid, then my family will be in the clear as far as affordability goes, but if getting the merit scholarship cancels much of the need-based money it will be a much less comfortable situation. </p>
<p>If the net price calculator says 45k grant and you get NMF, I would expect to get 15k in need based. If it was 25k and you got NMF, I would expect much more need based, if any.</p>
<p>Basically, the money doesn’t stack (also remember that the calculator is just an estimate. You may get more or less money.) This is Northeastern’s first year of meeting 100% of demonstrated need, and they will meet just that- your need as they define it. If you become a NMF also remember that I believe you get an award from the company (is it 2500?) which will also cut down on your need based aid. So you’re looking at 32,500 in merit aid (from NU and NMF). Since you said your family is throughly middle-class, I would say you wouldn’t get much (if any) need based aid, because your demonstrated need would be equal to, or less than the amount of money you’re getting in your merit scholarship. </p>
<p>The middle class does get shafted a bit, in the sense most are not wealthy enough to afford what schools say they should (state schools or otherwise) but it is a harsh reality. If your family still can’t make it work with this amount of money, I would say start applying for outside merit scholarships. I did, and my first year it reduced my expenses by 9k. Try to look for renewable scholarships if you can, otherwise be prepared to apply for them every year, or take out loans in subsequent years (there aren’t nearly as many outside scholarships for people currently enrolled as there are for high school seniors, about to attend college). I hope you do obtain NMF status, so that NU may be a possibility for you. </p>