<p>I'm a NMSF, likely NMF, so I'm interested in Northeastern's 30K/year scholarship. However, when I last ran the net price calculator, Northeastern left a gap of 10K between my EFC (as calculated by them) and the aid they gave. My EFC is only $5000. Will the merit fill the gap and then reduce the need-based aid, just reduce the need-based aid, or fill the gap and reduce my family's contribution?
If anyone has personal experience with Northeastern's aid, it would also be nice to know how close the actual package was to the net price calculator's estimate.
Thanks!</p>
<p>This is my understanding based on attending several presentations from financial services at Northeastern and email with our son’s financial aid officer. </p>
<p>If you’re awarded a merit scholarship that will be applied first. Then your family will be responsible for the EFC calculated through the FAFSA or CSS Profile. The difference between the cost of attendance and the sum of merit awards and your EFC will be your “demonstrated financial need.”</p>
<p>Northeastern has said that they will cover 100% of demonstrated financial need starting this year, so this entire gap should be covered by a combination of grants, loans, and work-study. Everyone that files a FAFSA is eligible for a loan, so you should expect a Stafford loan to be a part of your financial aid package.</p>
<p>The painful part is for many families the EFC seems impossibly high. </p>
<p>If you are fortunate enough to get outside scholarships, they must be disclosed to Northeastern and will be considered part of your financial aid package. Outside scholarships will reduce any unmet need first, then will reduce loans or work-study, then reduce need-based grants.</p>
<p>I can’t comment on the aid package vs. the net price calculator. Our family’s EFC exceeds the cost of attendance so we’re expected to pay the full fare. Fortunately, a nice merit award takes some of the sting out of it, and we were offered a Stafford loan, since we filed the FAFSA. </p>
<p>Good luck!</p>
In Northeastern website, it mentioned “Students must send Northeastern a copy of any certificates or letters that they receive from the NMSC for their admission file.By April 10”. Wondering what is the document? Is that the letter from NMS informing student is the finalist?