Financial information

 Click on any of the following links for information:

Students are required to pay the balance on their account in full by August 1 each year in order to keep their reservation in the residence halls as well as their registration for classes. In those instances where a payment plan is desired, arrangements must be made with the business office by July 1 for first semester and by November 15 for second semester. The monthly payment plan available is as follows:

A $25-per-semester handling charge is added to the account and no interest charges are assessed, unless a payment is delinquent.

Each semester’s balance will be divided into five payments. For first semester, the first payment will be due on July 25 in order to keep a student’s registration for classes. The remaining four payments will be due on August 25, September 25, October 25 and November 25.

At registration for second semester (in November) the balance for second semester will be divided into five payments due December 25, January 25, February 25, March 25 and April 25.

If a payment is not made on the date it is due, the entire balance becomes due and interest of 1 percent per month (12 percent per year) will be charged to the student’s account. Students who are delinquent in payment may be denied access to classes, computer usage, and campus facilities. Diplomas, transcripts and credentials will be withheld until accounts are settled.

For students not on a monthly payment plan, interest of 1 percent per month (12 percent per year) will be charged on the student’s outstanding balance.

Detailed information about costs and related fees can be found at www.nwciowa.edu/tuition.

The refund policy applies when a student fails to complete the enrollment period for which he/she has been charged. When a student withdraws, drops out or is dismissed for disciplinary or academic reasons, this policy will apply. Appeal procedures are governed by the student handbook in the “Academic affairs” section under “Required withdrawal”.

The effective date used to calculate the student’s refund or repayment is documented on the student’s official college withdrawal form. It is the student’s responsibility to initiate the completion of the form in the student development office. Upon receipt of the completed withdrawal form, the business office will calculate the refund/repayment in a timely manner.

This policy does not apply to students who drop classes but remain enrolled at least on a part- time basis at Northwestern. For these students, no refund will be provided, and financial aid will not change after the fifth day of the semester.

Tuition, room and board is refundable on the basis of the following percentage table. All fees are nonrefundable. Private or institutional student financial assistance programs will follow the same percentages when returning aid as calculated for tuition, room and board.

Withdrawal:
On or before 1st day of class, 100% refund
During 1st week, 90% refund
During 2nd week, 90% refund
During 3rd week, 70% refund
During 4th week, 50% refund
During 5th week, 25% refund
During 6th week, 25% refund
During 7th week, 25% refund
During 8th week, 25% refund
After 8th week, but on or before completing 60% of the enrollment period*, 25% refund
After 60% of the enrollment period has been completed*, no refund

*Please contact the business office for the exact date for each semester.

Title IV funds are federal financial assistance in the form of Stafford Loans, Perkins Loans, Parent Loans for Undergraduate Students (PLUS), Pell Grants, Academic Competitiveness Grants, National SMART Grants, Supplemental Educational Opportunity Grants (SEOG), and TEACH Grants. Federal regulations require the following treatment of Title IV funds when a student withdraws from an institution. The federal formula requires a return of the Title IV aid if the student received federal financial assistance as noted above and withdrew on or before completing 60 percent of the enrollment period. The percentage of Title IV aid to be returned is equal to the number of days remaining in the enrollment period divided by the number of calendar days in the enrollment period. Scheduled breaks of more than four consecutive days are excluded. If more than 60 percent of the enrollment period has been completed by the student, no Title IV aid needs to be returned.

Aid that must be refunded or repaid will be restored to the various financial assistance programs in the following order to the extent of the aid from each source:

1. Unsubsidized Federal Stafford Loans

2. Subsidized Federal Stafford Loans

3. Federal Perkins Loans

4. Federal PLUS Loans

5. Federal Pell Grants

6. Academic Competitiveness Grants

7. National SMART Grants

8. Federal Supplemental Educational Opportunity Grants (SEOG)

9. TEACH Grants

10. Other Title IV Aid

Please note that any other federal and state student financial assistance programs will follow the same percentages when returning aid as calculated for the Title IV programs. Private and institutional student financial assistance programs will follow the percentage table used for refunding tuition, room and board. The student will be the last to be refunded.

Because the institutional refund policy follows a different formula for reducing tuition, room and board charges and refunding private and institutional aid, students may still owe money to the college after all calculations are complete.

Students seeking financial aid must submit as early as possible the Free Application for Federal Student Aid (FAFSA). Be sure to list Northwestern College in the information release section. Northwestern’s Title IV code is 001883. Application forms are available in high school guidance offices and on the Web (www.fafsa.ed.gov).

Students selected for verification must submit the verification worksheet and student and parent federal 1040 tax forms and W-2s as soon as possible. Financial aid packages for first- time students are estimates until verification is complete. No financial aid packages are awarded for returning students until verification is complete.

In the case of two or more full-time students from the same family enrolled at the same time at Northwestern, a family discount grant is added to both students financial aid package. This does not apply to married students.

Any student who is eligible for financial assistance from the Veterans Administration should contact the registrar’s office. This office will assist students in the certification process. Veterans are required by the Veterans Administration to maintain satisfactory progress in their educational program.

The Education Amendment of 1980, amended 1983, requires Northwestern College to define and monitor Standards of Satisfactory Progress for students receiving federal financial aid from one or more of the following programs: (1) Federal Pell Grant, (2) Federal Perkins Loan, (3) Federal Supplemental Educational Opportunity Grant (SEOG), (4) Federal Work-Study Program, (5) Federal Family Education Loan Programs (FFELP). The Iowa Tuition Grant (ITG) is funded by the state of Iowa and has the same requirements.

Standards of satisfactory progress are established to encourage students to complete courses for which aid is received and progress satisfactorily toward the achievement of a degree. Completion of courses is defined as receiving one of the following grades: A, B, C, D, or Pass.

Duration of eligibility - It is expected that students will complete their undergraduate work within a time frame that does not exceed 150 percent of the published length of the program for a full-time student for satisfactory academic progress. Full-time students may receive federal financial aid for a maximum of 12 semesters of full-time awards. Half-time students are eligible for a maximum of 24 semesters of half-time awards.

Grade point average - To receive federal financial aid, a student must maintain the required minimum semester grade point average based on credits attempted. See “Academic progress policy” in the academic life section of this catalog.

Satisfactory progress - Satisfactory progress is defined as successfully completing course requirements in the necessary time frame with a minimum semester GPA. Incompletes, withdrawals and audits are considered unsatisfactory. However, incompletes which are later changed into A-D grades are satisfactory for good standing and satisfactory progress purposes. It is the student’s responsibility to notify the financial aid office of any change.

Financial aid eligibility during probation or suspension semesters - According to government regulations, every student who receives federal or state financial aid must be making satisfactory academic progress toward a degree program in order to continue to be eligible for federal, state or institutional funds. Thus, a student’s progress is reviewed each semester. Students on academic probation will continue to receive financial aid during the probationary semester. However, they will need to earn the minimum grade point at the end of the semester in order to qualify for these funds and to be considered as making satisfactory progress for the next semester of enrollment. A student placed on academic probation will not be eligible to receive an activity scholarship during the probationary semester.

Appeal procedure - Upon receiving a written petition from a student whose financial aid eligibility has been terminated under the conditions stipulated above, the Admissions, Retention and Honors Committee may reinstate the student to eligible status by means of a signed memorandum, accompanied by the petition, to the director of financial aid. The written petition must explain why the student did not meet the satisfactory progress requirement, what extraordinary circumstances, if any, intervened, and how the student expects to continue making good progress toward a degree objective (what steps will be taken, if any, to make up the needed credits).

Monitoring system - Those students placed on probation status or whose eligibility for aid has been terminated will have their progress monitored in the next semester they are enrolled, whether or not they receive aid for that semester. If satisfactory progress is resumed at the end of the semester, full eligibility for aid consideration will be reinstated the following semester, and the student’s name will be removed from the monitoring system.

Honor scholarships

Honor scholarships are awarded to high school graduates in the top quarter of their class who have satisfactory ACT or SAT scores, and to transfer students who have a 3.00 grade point average with a minimum of 24 hours. Honor scholarships vary in amount and are renewable each year for a total of eight semesters, as long as the student maintains a 2.75 cumulative college GPA at the end of the freshman year; thereafter, renewal requires a 3.00 cumulative GPA. Full- time enrollment is required.

Norman Vincent Peale Scholarship Program

Each year a minimum of six honor scholarships, each worth $15,000, will be awarded to incoming freshmen who exhibit high academic ability and who possess school, church and community leadership skills. These are renewable each year, provided the student maintains a 3.00 cumulative grade point average. To apply, each applicant must meet the following criteria: a ranking within the top 10 percent of their high school class or a minimum 3.7 cumulative grade point average; a minimum ACT score of 27 or SAT equivalent; evidence of a strong Christian commitment; demonstration of leadership skills and involvement in school, church or community activities; and enrollment as a full-time student at Northwestern College beginning in the fall semester. Students ranking #1 in their class with a 23 ACT are also eligible. Candidates must apply and be accepted for admission to Northwestern College prior to competing in the scholarship competition.

Activity scholarships

A limited number of activity scholarships are available through the art, theatre, music and athletic departments. Activity scholarships are based upon students’ special achievements and their potential for further development. Activity scholarships are given for a year at a time and are reviewed at the end of each year. To be eligible for an activity scholarship, students must meet the following requirements:

• New students must fulfill all entrance requirements at Northwestern.

• They must actively participate in the activity in which they seek an award.

• They must have been recommended by the department granting the award.

• Athletes must meet the eligibility rules of the Great Plains Athletic Conference (GPAC) and the National Association of Intercollegiate Athletics (NAIA). Check with the coach or athletic director for requirements.

• A student who is receiving an activity scholarship must be in good academic standing and meet eligibility requirements (see “Academic progress policy” in the academic life section of this catalog). If a student is placed on academic probation, he or she will not be eligible to receive an activity scholarship during the probationary semester. If the grade point is raised during the probationary semester, the respective department may again award an activity scholarship for the following semester.

Iowa Tuition Grant Program

The Iowa Tuition Grant Program provides funds to Iowa residents who attend a private college in the state. This money helps make up the difference between tuition at the private college and the average tuition at the three state universities. A student may receive up to $4,000, provided state funding is available, depending on the student’s financial need and enrollment. Application is made by filing the Free Application for Federal Student Aid (FAFSA) form and listing Northwestern College as a recipient of the form. Applications must be at the processor by July 1, but we encourage students to mail their forms by April 1. There is an eight-semester limit on the Iowa Tuition Grant.

Federal Pell Grant

The Federal Pell Grant is a federal program that makes funds available to eligible students attending approved colleges. Application is made by filing the FAFSA. A student will receive a notification of eligibility in a Student Aid Report (SAR). This notification is also received by Northwestern’s financial aid office, where the amount of the grant is then calculated.

Academic Competitiveness Grant (AC)

The AC Grant is a federal grant that makes funds available to 1^st and 2^nd year full time Pell eligible students who are U.S. citizens attending approved colleges. Application is made by filing the FAFSA. A student who is Pell eligible will be awarded this grant their first year, and then we will review a student’s high school transcripts before a fall disbursement is made. The student will be notified if they no longer qualify after their transcript has been reviewed. 2^nd year students must have a 3.0 cumulative gpa.

SMART Grant

The National Science and Mathematics Access to Retain Talent Grant, also known as the National Smart Grant, is available during the third and fourth years of undergraduate study to full-time students who are eligible for the Federal Pell Grant and who are majoring in physical, life, or computer sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security. The student must also be enrolled in the courses necessary to complete the degree program and to fulfill the requirements of the intended eligible major in addition to maintaining a cumulative grade point average (GPA) of at least 3.0 in course work required for the major.

Federal Supplemental Educational Opportunity Grant

The Supplemental Educational Opportunity Grant (SEOG) is available to a limited number of undergraduate students with financial need.

TEACH Grant

Through the College Cost Reduction and Access Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families.

Campus employment is available to all students who wish to work on campus. Many students have been able to earn part of their tuition by doing necessary work in college offices, the library, residence halls, campus maintenance and the dining hall. Students are free to interview for open positions. Summer employment is also available in various departments.

Federal Perkins Loan Program

The Federal Perkins Loan is for students who are enrolled at least halftime and who meet the required need factor. Repayment begins nine months after students graduate or leave school for other reasons; they may be allowed up to 10 years to repay the loan. During the repayment period, there is a charge of 5 percent interest on the unpaid balance of the loan principal. If students serve in the Peace Corps or Vista, no payments are required for up to three years.

Stafford Loan Program

This loan program is designed to assist families in the financing of higher education for their children. This loan is based on a need factor. Repayment begins six months after a student graduates, leaves school or drops below half-time enrollment. During the repayment period, there is a fixed interest rate on the unpaid balance currently at 6.8% for unsubsidized and 6% for subsidized. Applications for this loan can be obtained from the lender of your choice. An origination fee of up to 3 percent may be charged by the lender.

Northwestern College Rotary Loan

The college administers a fund, provided by Christian friends, for worthy students who need assistance. During the repayment period, a rate of 7 percent interest is charged on the unpaid balance of the loan principal.

McElroy Loan

A college-administered loan for students who best combine the qualities of leadership, citizenship, scholarship, and community and school service. During the repayment period, a rate of 7 percent interest is charged on the unpaid balance of the loan principal.

Federal PLUS Loans and Alternative Loans

These loans may be used to supplement the financial aid package if there is additional need. Additional information and applications for these loans can be obtained at www.nwciowa.edu/financialaid or  www.elmselect.com.