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Northwest High School

Financial Aid Info

Financial Aid Info

LendEDU has a number of guides available covering a number of financial aid and personal finance topics. https://lendedu.com/top-posts/

Guide to paying for college:
In this guide, we go over the cost of college and the associated steps to pay for it. There are 6 steps in total, including The Cost of College, The Steps to Paying for College, Financial Aid, Scholarships & Grants, College Savings Accounts, and Student Loans.
In addition, we even recorded 5 videos to make the information more digestible and engaging.
With the ever rising cost of college and the growing student loan crisis, we think it is more important now than ever for students and their families to be informed about the best strategies to pay for college. For more info, click on the link below.

Guide to Paying for College - Financial Aid, Scholarships, Savings, & Student Loans
Federal Financial Aid
Tuition and fees paid with tax-free grants, scholarships, and employer educational assistance are not eligible for either of the following two tax credits; expenses paid with loans are eligible. The credits are reduced for joint filers with an adjusted gross income (AGI) above $80,000 and for single filers who have an AGI of more than $40,000. The credits are completely phased out when incomes reach $100,000 for married couples and $50,000 for individuals.

Federal Pell Grant
A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.) Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added. 

Federal Supplemental Educational Opportunity Grant
Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. Just like Pell Grants, the FSEOG does not have to be repaid.

You can receive between $100 and $4,000 a year, depending on when you apply, your financial need, the funding at the school you're attending, and the policies of the financial aid office at your school.

Federal Work Study Program
Federal Work-Study (FWS) provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the recipient's course of study.

Federal Perkins Loan
A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and graduate students with exceptional financial need. Federal Perkins Loans are made through a school's financial aid office. Your school is your lender, and the loan is made with government funds. You must repay this loan to your school. Your school will either pay you directly (usually by check) or apply your loan to your school charges. You'll receive the loan in at least two payments during the academic year. 

Direct Subsidized Loan
Direct Subsidized Loans are for students with financial need. Your school will review the results of your Free Application for Federal Student Aid (FAFSASM) and determine the amount you can borrow. You are not charged interest while you’re in school at least half-time and during grace periods and deferment periods.

Direct Unsubsidized Loan
You are not required to demonstrate financial need to receive a Direct Unsubsidized Loan. Like subsidized loans, your school will determine the amount you can borrow. Interest accrues (accumulates) on an unsubsidized loan from the time it’s first paid out. You can pay the interest while you are in school and during grace periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized (that is, added to the principal amount of your loan). If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount. 


Customer Service Hours, Monday-Friday, 8am-10pm
1-800-4FED-AID (1-800-433-3243) or 319-337-5665
[email protected] (receive response within 1 business day)