Loans

Northwestern Law is committed to offering a variety of financing options for our students. In planning your financing strategy, students should explore all available loan options and understand the benefits, terms, and responsibilities of borrowing loans.

To be considered for any federal loan program, a student must submit the Free Application for Federal Student Aid (FAFSA), be enrolled at least half time, and be either a U.S. citizen or permanent resident. Any student who is in default of a federal loan or owes a refund to any federal program is ineligible to receive federal loan funds. Refer to the eligibility requirements stated in the application guidelines for more information.

Credit-worthy students may also apply for institutional and private loans after other sources of financial aid and personal resources have been exhausted. Students may borrow up to the cost of attendance less other financial aid. Loan terms and provisions vary by lender. Northwestern Law strongly encourages first-time borrowers to begin the pre-approval process for private loans early. This allows time to resolve any issues on your credit report and to secure a co-signer if necessary.

Students must choose if they want to fund their education with a Graduate PLUS loan OR a private(alternative) loan to cover their cost of attendance NOT covered with federal Stafford and/or Perkins loans. If a student opts for a private loan, students must first borrow federal Stafford and/or Perkins loans for which they are eligible before borrowing through institutional or private educational loan funds.

For more information about Northwestern's loan policies, visit Northwestern Student Loans.

The Loan Process:
Federal Stafford Loan Borrowers

New borrowers at Northwestern University must select a lender and complete a Master Promissory Note (MPN), available through the U.S. Department of Education, along with completing Stafford Loan entrance counseling session.

Continuing borrowers at Northwestern University are not required to complete an additional MPN or entrance counseling session.

Federal Perkins Loan Borrowers

New borrowers at Northwestern University must complete a Perkins Loan Application and Master Promissory Note (MPN) along with completing the Perkins Loan entrance counseling session.

Continuing borrowers at Northwestern University are not required to complete an additional application, MPN, or entrance counseling session.

Federal Graduate PLUS loan Borrowers

New borrowers at Northwestern University must complete a Graduate PLUS Loan Application and Master Promissory Note (MPN).

Continuing borrowers at Northwestern University are not required to complete an additional application or MPN.

Private (Alternative) Loan Borrowers
All borrowers are required to complete their private loan applications online. Students can select the lender for their private loans.

Certification of your student loans
The Office of Financial Aid, Chicago, certifies your student loans. Loan applications that are incomplete or improperly completed will be returned. This will delay loan processing, which may delay the disbursement of your student loans.

Disbursement of your financial aid
Your financial aid is credited to your student billing account after all financial aid award requirements are met. No funds will disburse your student billing account unless you have completed all forms and requirements.