Northwestern University Early Decision thread 2010

[roderick]

<p>that is one good FA pkg with a 12.3 EFC and for a school with a 55k COA.</p>

<p>wanna know a secret? the 8400 figure is the threshold where NU will pay for EVERYTHING, over a quarter of a million dollars over four years. THis is probably one of the other reasons my son was not let in. that is a lot of bread to let out of the house. I assume that they do this level of giving for a certain quota, probably the QB candidates - wehad not heard about QB till too late. Pure need blind is obviously impossible to fully implement. they dont have a 4.4 b endowment by losing too much money. kinda like trust but verify. or need blind, but keep an eye open under the blindfold and watch your quota of charity cases.</p>

<p>and the other great thing about NU FA policy is that it caps loans over a 4 yr period to 20k (subject to policy change, probably, but still…). So the guy above who had lots of loans, WHEN it gets to 20k, it is capped and the rest is grants. I liked this part of the policy since our financial neediness might change down that road and I knew there was a safety net. </p>

<p>so this is a great safety net for people and the nmbr one reason I signed off on a ED decision. it stops a free fall.</p>

<p>olleger, did nt NU say anything about the loan cap in the letter? call them up and ask them about it. They told me over the phone about it. I have to admit that I had to cajole it out of them (I had heard about it on a link to a site I found on CC). maybe this is something they don’t want to advertise so much? who knows?</p>

<p>here it is. looks like there are some caveats to it.</p>

<p><a href=“http://ug-finaid.northwestern.edu/topics/prospective/scholarships_grants.html[/url]”>http://ug-finaid.northwestern.edu/topics/prospective/scholarships_grants.html&lt;/a&gt;&lt;/p&gt;

<p>

Debt Cap Scholarship
Summary: Beginning with the 2008-09 academic year, the University will cap federal need-based loans (Federal Perkins loans and Federal Subsidized Stafford loans) at $20,000 for students receiving Northwestern Scholarship assistance.
Eligibility: Students will be offered the Debt Cap Scholarship based upon institutionally determined financial need. Read more about the Debt Cap Scholarship Program in Debt Cap Scholarship Policies (pdf).
Award range: $300 - $9500 in 2008-09. Students will receive additional scholarship assistance to replace approved loans that exceed the cap. These additional funds will most likely be provided at the beginning of the senior year.

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<p>and here is the bit about giving grants to all eligible…I got the 8400 figure as the threshold for this FA from the FAO on the phone.</p>

<p>

No-Loan Pledge Scholarship
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.
Eligibility: Students who demonstrate the greatest institutional need and who are eligible for the Federal Pell Grant are considered for this assistance. Read more about the Pledge Scholarship Program in Information for Pledge Scholarship Recipients (pdf).
Award range: $300 - $9500 in 2008-09. The University will replace federal need-based loan eligibility with No-Loan Pledge Scholarship assistance for students who qualify.

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