<p>All I found on Northwestern's site was this:
"No-Loan Pledge Scholarship</p>
<p>Summary: Beginning with the 2008-09 academic year, new undergraduate students who demonstrate the greatest institutional need have the opportunity to graduate from Northwestern without having to borrow any need-based loans. Current students are also eligible to receive this scholarship." </p>
<p>but it didn't define what "the greatest institution need" meant. </p>
<p>I'm currently considering Northwestern and financial aid is very important. Thanks.</p>
<p>Maybe it varies for how far you are below 60K, but my family is in that bracket and the University had us paying 4,300 out of pocket per year and 2,500 of work-study. Everything else consisted of grants and scholarships, though. No loans.</p>
<p>Beginning in fall 2008, Northwestern will eliminate student loans and replace them with grants for new and returning undergraduate students with the greatest financial need. About 80 percent of the beneficiaries of the no-loan program will come from families making less than $55,000 annually. </p>
Not sure where you are pulling those figures from but that is not accurate, at least it wasn’t for us. My calculations was more like a little under 80% of COA. We make less than 60K and our EFC was around 3.5K. NU expected us to provide $6,300 and my son was also expected to secure another 3.5K loan plus work study of around 2.5K. Consequently, he is attending Yale without a loan or parent contribution. He loved NU but with plans to attend medical school he couldn’t turn down an undergrad education without loans.</p>
<p>The only guarantee I know of from NU is they cap the student loan obligation at $20K for four years.</p>
<p>^same with Kdog. For some reason, I’m pretty sure NU screwed up my financial aid offer, because my COA was about $9,900, and they billed me at about 30k. Which is crazy. I think my situation was an anomaly, but I didn’t try to pursue it further because like Kdog, I’m going to Yale with no loan or parent contribution. But I’m sure if I had raised the issue to NU, they would have fixed it - can’t offer any actual advice though :/</p>
<p>My guess is you were eligible for some in state scholarship and that’s why you didn’t have a loan component. Our EFC was lower than yours and we did so that’s the only thing I can think of. Unless the OP is from Illinois I doubt they would see a package similar to yours.</p>