Northwood University Financial Aid and Scholarships
Students Receiving Aid
68%
Total Aid Amount
$21.705M
Financial Aid Official Website
www.northwood.edu/financial-aid/applying-for-financial-aid
Such schemes include AIADA/John E. Andrews Endowed Scholarship, AIADA/John E. Andrews Memorial Scholarship, Accounting Alumni Endowed Scholarship, and Adoma Accounting Scholarship. It is interesting to note that, every year, around 98% of students at NU receive some kind of financial aid, while the total amount of assistance/loans provided is $17,089,980. More information regarding the financial assistance schemes can be accessed on NU’s official financial aid page at http://www.northwood.edu/financial-aid/applying-for-financial-aid. Notably, a total of 28% of the applicants to Northwood University receive the Federal Grant every year. In comparison, 96% of the students are awarded the Student Grant, 95% get the Institution Grant, and 28% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,371, and the same stands at $3,056 for State Grant awardees and $17,749 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,378. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $18,458 per year. The average aid amount stands at $15,444 for an annual family income between $30,001 and $48,000. This amount comes to $16,768 for those who fall under the $48,001-$75,000 family income bracket. Those with an annual income level of $75,001-$110,000 would receive $13,632, while candidates with more than $110,000 of family income receive an average federal aid of $11,383. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 86% of the applicants to Northwood University opt for student loans.
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