Private loans
Many different lenders provide additional loan funding to help students cover college costs. Before pursuing a private loan, first consider your grants, scholarships, and federal student loans.
Eligibility for private loans is based on creditworthiness and ability to repay, not on financial need. Private loans are in the student's name, but most private loans require a cosigner.
The Northwestern College financial aid office is using FAST Choice, a loan comparison tool offered by the Great Lakes Higher Education Corporation, to display our preferred lenders. You do not have to use any of these lenders.
We are required to disclose the maximum state and Federal Title IV grants and loan assistance available:
| Pell Grant | $7,395 |
| SEOG Grant | $4,000 |
| TEACH Grant | $3,772 |
| Iowa Tuition Grant | $7,500 |
| Direct (Stafford) Loan | $5,500 (freshmen); $6,500 (sophomores); $7,500 (juniors and seniors); independent undergraduate students can receive an additional $4,000 (freshmen and sophomores) or $5,000 (juniors and seniors) |
| Parent PLUS Loan | Cost of attendance minus all other financial aid |
