Financing Options

We understand that each student’s and family’s financial situation is unique and offer a number of options to assist you in financing your education. These resources, which include a payment plan and supplemental financing, can be combined or used in addition to any current family income and savings.

The best way to limit debt is to consider the interest-free monthly payment plan. If this plan is not a viable option, you may consider financing the difference through the Federal Direct PLUS Loan or private loans. We strongly encourage you to consider all the ways to pay for an education to determine which best meets your needs.

Direct costs, which may include tuition, fees, housing, and food, will vary depending upon your student type and program. Housing and food costs will also vary depending upon your assigned residence hall, room occupancy and meal plan selected. To arrive at the portion of direct costs you must meet, subtract the amount(s) of any grants or loans offered from your billed expenses. Please remember that Federal Work-Study is not subtracted from direct costs.

If you have questions regarding the options outlined below or would like assistance in planning for the semester or even academic year, please do not hesitate to contact our office.

Payment Plan

Payment Plan

Northeastern University offers monthly payment plans, which are administered through Flywire.

The monthly payment plan allows you to divide your educational costs into smaller, more manageable, installments. In using this plan, it can reduce your need to borrow, thereby, reducing the overall cost of education and can be combined with your financial aid award or other financing options. Because the payment plan is not a loan, you do not have to pay interest, only an enrollment fee of $45 per term.

Additional information regarding payment plan options can be found in the Payment Plan FAQ’s.

To enroll in a payment plan, follow these steps:

1. Students login using their NU Credentials.
2. Authorized users (parents, family) should log in using their email address.
3. If a plan offer has been created for you, you will see the available plan options by selecting the “Enroll in Plan” button or navigating to the “Payment Plans” tab
4. “Select” the payment plan and proceed with enrollment.

For platform and payment plan questions, students and authorized users can contact Flywire by submitting a contact form, or calling (US: +1 857 287-3823 or International: +1 857 287 3818).

• If a plan offer has been created for you, you will see the available plan options by selecting the “Enroll in Plan” button or navigating to the “Payment Plans” tab.
• “Select” the payment plan and proceed with enrollment.

If an Authorized User wants to sign up for a payment plan, the STUDENT will need to log into Flywire. Once the STUDENT has logged into Flywire under the Quick Links on the Account Summary tab:

1. Click on “Manage or Set Up Authorized User”.
2. Click Add Authorized User, enter the requested information, then click Create
3. The authorized user will receive an email with instructions on how to log into the system to verify their authorized user account. The email must be entered correctly, or the authorized user will not receive important messages.
4. Once authorized users have been added, the student has the ability to view the user’s activity and/or delete user access via the Manage Authorized Users action.

Payment Plan Ownership

Students or a student’s Authorized User can enroll in a Payment Plan. If the student enrolls, the student is the owner of the plan; if an Authorized User enrolls, that individual is the owner of the plan. This is important because only the owner of the plan can change the payment method. Both the student and ALL of the student’s Authorized Users will receive Payment Plan notifications by email.

However, either user is able to make a payment towards the payment plan even
when they are not the payment plan owner. To pay towards a plan that you do not
own, click on “Make a Payment”, and select the plan you wish to contribute towards
and you can either “Pay Next Installment” or “Pay Another Amount”.

• Payments toward the monthly payment plan can be made by e-check.
• Monthly payment plans cannot be used for past due balances.
• The “deadline to enroll” may vary from the billing due date posted on your billing statement. Students are encouraged to resolve any balance due by the due date on their bill.
• Monthly Payment Plans are not currently available for Canadian Campus Students.

The N.U. in Program

Please note, payment plan enrollment will be available on Thursday, June 15, 2024.

The Global Scholars Program

Please note, payment plan enrollment will be available on Thursday, June 15, 2024.

Undergraduate Day and Graduate Day Programs

College of Professional Studies (Bachelor’s Completion Programs)

College of Professional Studies (Graduate Programs)

School of Law

Federal Direct PLUS Loan

The federally sponsored PLUS loan is a student loan for graduate level students and the parents of dependent undergraduate students, who are attending at least half-time.

Loan funds are disbursed directly to Northeastern in equal amounts over each term of enrollment for the academic year. The maximum amount that can be borrowed is the cost of education less any other forms of financial aid. PLUS loans must be processed according to federal regulations, which stipulate that a loan cannot be processed after the end of the loan period. Thus, you cannot use a federal PLUS loan to pay a back balance. The Federal Direct Graduate PLUS Loan requires credit approval by the Direct Loan Servicer.

Parent PLUS Loan

How To Apply

Parents who wish to apply for the Federal Direct Parent Plus Loan must complete the following steps:

• The student must have a valid Free Application for Federal Student Aid (FAFSA) on file with Northeastern University for the academic year for which you are applying.
• Visit studentaid.gov and login with your FSA ID and password.
• Complete the online Parent PLUS Loan application for the appropriate academic year.
  • 2020–2021 Parent PLUS Loan Application: For Undergraduate Day students enrolled September 2020 through August 2021 and students in the College of Professional Studies enrolled July 2020 through August 2021
  • 2021–2022 Parent PLUS Loan Application: For Undergraduate Day students enrolled September 2021 through August 2022 and students in the College of Professional Studies enrolled July 2021 through August 2022.

  Please note, if a parent is denied a Federal PLUS loan due to credit reasons, the parent may appeal the denial with the Direct Loan Origination Center or reapply with a credit-worthy cosigner. The Direct Loan Origination Center can be reached at 800.557.7394.

  Graduate PLUS Loan

  Who is the Borrower?	Graduate Student
  Eligibility	Must be enrolled in a degree granting program at least half-time and meet all eligibility requirements for federal aid.
  Interest Rate	The interest rate on loans first disbursed on or after July 1, 2021 and before July 1, 2022 is 6.28%. The interest rate on loans disbursed during the 2022-2023 academic year is 8.05%
  Origination Fee	For loans with a first disbursement on or after October 1, 2020 the origination fee is 4.228%.
  Repayment	Students have up to 25 years to repay their loan. Grad PLUS loans do not have a grace period. As such, repayment begins after the student is no longer enrolled at least half-time. Students who drop below half-time status then re-enroll above half-time status will need to request their loans be deferred again through their assigned Direct Loans servicer.
  Consolidation	Can be consolidated with Federal Direct, FFEL, and Perkins Loans upon graduation
  Additional Requirements	First-time borrowers must complete Federal Entrance Counseling and a PLUS Loan Master Promissory Note (MPN).

  How To Apply

  Graduate students who wish to apply for the Graduate PLUS Loan must complete the following steps:

  • Have a valid Free Application for Federal Student Aid (FAFSA) on file with Northeastern University and received your financial aid award for the applicable academic year.
  • Visit studentaid.gov and login with your FSA ID and password.
  • Complete the online Graduate PLUS Loan application for the appropriate academic year.
    • 2020–2021 Graduate PLUS Loan Application: For students applying for the 2020–2021 academic year, beginning with the Summer 2020 term.
    • 2021–2022 Graduate PLUS Loan Application: For students applying for the 2021–2022 academic year, beginning with the Summer 2021 term.

    Supplemental Loans

    When considering supplemental loan options, you should compare the benefits and costs of several lenders before you apply, to find the option which best meets your needs. It is always in your best interest to explore federal student and parent loan options before applying. For information to assist you, please review our Researching Private Loans page.

    Below is a list of lenders offering private educational loans that are commonly utilized by Northeastern University students. This is not a comprehensive list of all the educational loans available to you and you are not required to select one of these lenders. Inclusion on this list is not an endorsement or recommendation by Northeastern University. If you or your family has worked with a lender not listed below, and has received excellent benefits and quality service, please recommend this lender to us by emailing [email protected] .

    AAA Advantage Loan

    Ascent Student Loans

    Citizens Bank

    College Ave Student Loans

    Connecticut Higher Education Supplemental Loan Authority – Connecticut residents only

    Custom Choice

    cuStudentLoans

    Maine Educational Loan Authority (MELA) – Maine residents only

    Massachusetts Educational Financing Authority (MEFA) -No state residency requirement

    MPOWER Financing

    New Jersey Higher Education Student Assistance Authority – New Jersey residents only

    Ontario Integrated Student Loans – Canadian citizens and permanent residents only

    PNC Educational Loans

    Rhode Island Student Loan Authority – Rhode Island residents only

    SallieMae

    SoFi

    South Carolina Student Loans – South Carolina residents only

    Student Choice Credit Union Loans

    Union Federal

    Vermont Student Assistance Corporation (VSAC) – Vermont residents only