Financial Aid Programs

The Pell Grant assists undergraduate students who need financial help for their education and, like other grants, does not have to be repaid. Applicants must submit the Free Application for Federal Student Aid (FAFSA) to determine eligibility for the grant. For 2020-2020 the amounts range from $639 to $6345.

Effective July 1st, 2012 students are limited to 12 semesters, or their equivalent, of Pell grants.

The purpose of the FSEOG Program is to provide additional grants to students who are Pell-eligible and who demonstrate exceptional financial need.

The NOG is available to students who are working towards their first bachelor's degree and whose expected family contribution (EFC) is $6,000 or less. These grants are funded by the Federal government through the Leveraging Educational Assistance Partnership Grants, by the State, and, where applicable, other contributing partners. The award is contingent upon approval by the Nebraska Coordinating Commission for Post-secondary Education.

The work-study program provides jobs for eligible students who show unmet need. Student workers are paid biweekly as hours are worked. Most FWS students are employed on campus and work an average of 8-10 hours per week at a salary of at least minimum wage. Some jobs are designated community service jobs as students assist individuals in the greater northeast Nebraska area. Northeast also provides FWS students an off-campus reading tutors program for elementary school children.

To be eligible for the subsidized Direct Federal Loan, a student must show need and be enrolled at least half- time. The government subsidizes the loan by paying the interest for the student during periods of at least half-time enrollment. Freshman students may be eligible for up to a maximum of $3,500, and sophomores may borrow up to $4,500. The repayment period begins 6 months after the student is no longer enrolled at least half-time. Interest will accrue during those 6 months and will be payable by the student rather than subsidized by the federal government.

The interest rate for 2020-2021 is 2.75% fixed.

First-time borrowers: New maximum time for Direct Subsidized Loans:

New federal regulations limit new borrower eligibility for Direct Subsidized Loans to 150% of the published length of an undergraduate program. This limit applies only to first-time borrowers. See the Federal Student Aid Information sheet for a full explanation of this change.

The terms of the unsubsidized Direct Federal Loan are identical to those of the subsidized Federal Direct Loan with two exceptions-a student is not required to show need for the unsubsidized Federal Direct Loan and interest is the student's responsibility from the beginning. The government does not pay interest for the student. Subsidized loan eligibility reduces available unsubsidized limits. Independent students could have up to $4,000 of additional eligibility above the $3,500 for level-one students and $4,500 for level-two students.

The interest rate for 2020-2021 is 2.75% fixed.

The PLUS loan is available to parents of dependent students to help meet remaining costs of education. Maximum eligibility is total cost of education minus financial aid.

The interest rate for 2020-2021 is 5.30% fixed.