There are four methods of meeting the cost of your education: 1) paying from your family income and savings, 2) the Northeastern University Monthly Payment Plan, 3) financial aid, and 4) supplemental loans. No matter which option or combination of options you choose, you should strive to reduce the overall cost of your education by:
- Paying as much as you can out of your current income and savings as the bill becomes due, or by using the monthly payment plan.
- Using student loans that have been awarded through the financial aid process (e.g., the Federal Perkins, Nursing, Health Professions, and Stafford subsidized and unsubsidized loans) before considering other types of loans.
- Minimizing borrowing whenever possible. The less interest you pay on the money you borrow, the lower your total cost will be.
Northeastern University uses an online billing and payment system. All Northeastern students and authorized third parties, such as parents, guardians, or sponsors, must view billing statements electronically. Students and any authorized third parties will be notified via their myNEU account whenever an e-bill is generated.
The university offers interest-free monthly payment plans administered through TuitionPay. The extended-payment plan allows families to divide the annual cost into nine, ten, or eleven monthly payments, depending on when the student enrolls in the program. More information is available on the TuitionPay website.
Determining Award Amounts
Your offer of financial assistance is based on a number of factors. We begin with the estimated cost of education. From this, we subtract the Expected Family Contribution (EFC), which is calculated from information you submitted on the FAFSA and CSS Profile forms, to arrive at your financial need. In addition to the need component, Northeastern recognizes a student’s academic merit when awarding institutional grant funds.
Information about charges for 2016–2017 will be available in Spring 2016. Whether you choose four or five years for your undergraduate degree, you will only pay tuition for the academic experience (tuition is not charged for the experiential education periods). If you choose to live on campus during co-op, you will be responsible for room and board charges.