Federal Direct Loans
Subsidized and Unsubsidized Federal Direct Loans
First-time borrowers: To receive the loans indicated on your financial aid award letter, you will need to complete a Master Promissory Note (MPN) and an Entrance Counseling session online at http://www.studentloans.gov. Your Social Security Number and your Department of Education-issued PIN will be required. If you do not have a PIN, you may request one from http://www.pin.ed.gov. If you prefer not to complete these requirements electronically, contact the Financial Aid Office.
Returning borrowers: You do not need to complete an MPN or Entrance Counseling if you have completed them previously.
All borrowers: To accept the loans as indicated on your financial aid award letter, nothing further is necessary. If you want to change your loan amount(s), click on Financial Aid Forms and select the 2014-2015 Federal Direct Loan Change Form. This form must be completed and signed and can be mailed or faxed to the Financial Aid Office.
Federal Direct PLUS Loan (for parents of undergraduate students)
Parents of an undergraduate student can apply for a credit-based Federal Direct PLUS Loan to assist with out-of-pocket educational expenses on behalf of the student. The parent must be a credit-worthy US citizen or eligible non-citizen.
Parents can defer repayment if your student is enrolled at least half-time (6 hours), and for an additional 6 months after the student graduates or drops below half-time enrollment. If the Federal Direct PLUS Loan is denied, the student will be eligible to borrow up to an additional $4,000 for freshmen and sophomores or $5,000 for juniors and seniors of Federal Direct Unsubsidized Loan.
- To apply for the Federal Direct PLUS Loan, the parent must complete a Master Promissory Note (MPN) and a Federal Direct PLUS Loan application online at http://www.studentloans.gov. Your Department of Education-issued PIN will be required to complete the MPN, as it becomes an electronic signature. If you do not have a PIN, you may request one from http://www.pin.ed.gov . If you have previously borrowed for this student you do not need to complete a new MPN.
- Next complete a 2014-2015 Federal Direct PLUS Loan Request form. The Federal Direct PLUS Loan Request form is available online at www.northwood.edu. Select Financial Aid, and then select Financial Aid Forms. This form must be completed and signed and can be mailed or faxed to the Financial Aid Office.
If you would like to divide the year's balance into monthly payments, this can be set up through TuitionPay. There is a $55 non-refundable application fee and payments can be made using an electronic check, American Express, Discover Card, MasterCard, or VISA. (Credit card payments will be accessed a 2.5% service fee).
- Simply go to http://tuitionpay.salliemae.com and click "Enroll now", follow the prompts to choose Northwood University.
- There will be a list of payment plan options to choose from. You will need the total amount due for the academic year, the student's social security number and graduation year, and the payee's address, phone number, date of birth and email address.
- Follow the steps to create an account and make the initial payment. Payments are due monthly and you will have the option to enroll in automatic payments.
Two Annual Payments
We encourage you to make online payments at http://my.northwood.edu (Log in, click on WebAdvisor tab, click on the student section and then choose "Make a payment").
Online payments can be made using an electronic check, American Express, Discover, MasterCard, or VISA. Credit card payment will be assessed a 2.5% service fee. Payments can be made in full for each semester in person using check or cash (at campus business office only).
- Fall 14/15 semester balance is due on August 11, 2014
- Spring 14/15 semester balance is due on December 22, 2014
Florida Prepaid Tuition Plan (www.myfloridaprepaid.com)
As an accredited, private university, students attending Northwood University may transfer the value of the prepaid plan. Northwood is approved by the state as a private college recipient for the Florida Prepaid Tuition Plan. Due to the fact that Northwood has three campuses in Florida, Michigan, and Texas, we are listed as an out-of-state institution under the Michigan campus. To view our approved participation, please click here.
To authorize Northwood University to bill on your plan, go to the Florida Prepaid website at www.myfloridaprepaid.com, select "Forms" (at very top right), select "Click here for the Prepaid Plan Forms," select "Transfer Form." Complete the form and mail or fax the form to Florida Prepaid College Plan. Florida Prepaid College Plan will send a Third Party Billing Notice authorizing us to invoice them based on your chosen payment plan option.
Northwood University is accredited the Higher Learning Commission and is a member of the North Central Association (800.621.7440; higherlearningcommission.org). Should you have questions about the program, contact us for more information on how the Florida Prepaid Plan works for you at Northwood University.