The Financial Aid Process

In North Park's graduate programs, there are two forms of financial aid:  grants and scholarships from North Park and student loans.

1.  You will be considered for North Park grants and scholarships by the Admissions office.  Scholarships are generally not "piggybacked", and you will receive the best scholarship for which you qualify.  The Financial Aid Office will be notified of your award from the Admission Office, and make sure that it is credited to your account. 

2.  If you are interested in obtaining federal Stafford Loans to help fund your education, please complete the FAFSA (Free Application for Federal Student Aid).   In order to sign your FAFSA electronically, you must obtain a PIN. The Financial Aid Office uses the information that you provide on the FAFSA to provide you with the best possible financial aid package. 

The FAFSA website will provide you with detailed instructions on how to complete the form.  Please be sure to indicate on the FAFSA that you want North Park to receive your information.  Our school code is 001735.

3.  Once you have completed the FAFSA, the government will send you a Student Aid Report (SAR)electronically. Review the SAR and make sure that the information is correct.  If you need to make any corrections to your information, please do so online.

4.  Approximately 10% of our graduate students are randomly selected for a process called verification. If you are selected for verification, you will receive information from the Financial Aid Office requesting additional documents from you (and your spouse, if applicable), such as copies of your federal income taxes and the 2009-2010 Verification Worksheet.  A financial aid package will not be created for you until you have completed verification.

5.  Once you are admitted to a program and we have received a valid FAFSA, we will send you a financial aid package that details the maximum amount you may borrow for the academic year in Stafford Loans.  Included with your package will be information about how to access your loan funds. You may apply for Stafford Loans at any point in the academic year.

6.  In addition to federal Stafford Loans, you may also pursue private educational loans through lenders of your choice.  Private loans are not regulated by the federal government or North Park, often carry a high, variable interest rate, and are based on credit-worthiness.

Maintaining Your Eligibility for Financial Aid

In order to receive federal Stafford Loans, you must be enrolled at least half time, which is four credit hours/semester for graduate students.  You must be pursuing a degree or certificate in order to receive federal student loans.

You must also maintain Satisfactory Academic Progress.

Students who are in default on student loans are not eligible for additional Stafford Loans. If you have a loan in default, contact your lender to make payment arrangements. Once we receive confirmation that your loan is in good standing, you will be eligible for additional Stafford Loan funds.