Financial Aid FAQs
Financial Aid Video Playlist
Have financial aid questions? Visit PNW’s video portal to find answers, from understanding your financial aid offer to the difference between grants and loans.
Tuition, Fees and Other Costs
Books are purchased “out of pocket” by the student. If you have been awarded financial aid and have received a refund, you may use the refund money to buy books and pay for educational expenses. Information on textbooks and ways to reduce textbook costs is available at Textbook Information.
FAFSA and Other Federal Aid
The Purdue Northwest school code is 001827.
The earlier the better! The FAFSA opens on October 1 each year for the upcoming award year.
Your 2022-23 FAFSA must be received by the federal processor on or before May 20, 2022 for the 2022-23 year in order for you to be considered for state of Indiana Frank O’Bannon grant and the 21st Century Scholars award. High school seniors need to apply on or before May 20 of their senior year.
The PNW Scholarship Application has a deadline of February 1 each year, make sure to apply to be considered for donor-funded scholarships. High school seniors need to apply on or before February 1 of their senior year.
Yes! You will be ineligible to receive 21st Century Scholars and Frank O’Bannon grant for the award year, however, some state financial aid may still be available. Additionally, federal financial aid is available.
Review the information under Indiana State Grants on the Grants webpage for more information.
Yes! Students who meet the Basic Eligibility Criteria qualify for some type of financial aid once the FAFSA is received and any additional required information is received and verified. The type of financial aid awarded will be based on the student’s eligibility and financial need.
The FAFSA will be available on October 1 for the following academic year (i.e. October 1, 2021 for the 2022-23 academic year). Students and parents will use 2020 year tax information to complete the 2022-23 FAFSA. Most FAFSA applicants will have this tax information completed. However, if your 2020 tax data is not complete; you may estimate tax data using your W2 forms in order to meet the April 15 state filing deadline. After the Department of Education processes your application, you will receive a Student Aid Report (SAR). Make any needed corrections to your FAFSA online.
Purdue Northwest receives your FAFSA data from the federal processor and will notify you once your FAFSA is received. Communication is sent to your PNW email and to your Student Self-Service portal via myPNW. The Financial Aid Checklist provides a list of your next steps in the process.
The parent you lived with most during the past 12 months prior to filing, should supply income data in the parent’s section of the FAFSA. If you did not live with one parent more than the other, the parent who provided the most financial support during the past 12 months should complete the FAFSA.
You may call 1-800-FED-AID (433-3243) or log-on to the FAFSA on the web to:
- Check on the status of your application
- Order a duplicate student aid report (SAR)
- Change the colleges listed on your student aid report
- Get help completing your application or correcting your student aid report.
Subsidized Loans are federally guaranteed loans based on financial need. Interest does not accrue on the loan while you are in school at least half time, or during deferment. The federal government ‘subsidizes’ (or pays) the interest during these times. Only undergraduate students are eligible for subsidized loans. If offered a subsidized loan, accept it before your unsubsidized loan.
Unsubsidized Loans are federally guaranteed loans that are not based on financial need. Interest does accrue from the time the loan is disbursed to the school. You are responsible for paying the interest on unsubsidized loans. If you choose not to pay the interest while you are in school and during grace, your interest will accumulate and be added to the principal amount of your loan. Both undergraduate and graduate students are eligible for unsubsidized loans.
The current interest rates and loan fees depend upon the type of loan, whether you are an undergraduate or graduate student and when the loan was first disbursed (paid to your account)
Most grants are gift aid and do not have to be repaid. However, if you withdraw from all classes a federal title IV refund calculation will be performed and may require repayment of financial aid, including any grants received. Students will be contacted by the Bursar’s Office if repayment is required. Students with financial aid should talk to the Office of Financial Aid before dropping classes to fully understand the impact on your financial aid awards.
PNW Scholarships and Other Financial Aid
Your application for financial aid may be filed prior to your admission and you will be given an estimated award package. Once you are formally admitted as a degree-seeking student and have completed all requirements your federal and state financial aid awards will be packaged.
Purdue Northwest participates in both title IV federal and state financial aid programs. Aid may include:
- Grants (Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, State Frank O’Bannon Grant and State 21st Century Scholars Award)
- Scholarships (Institutional and external scholarships)
- Federal Work-Study program (part-time employment for students with financial need)
- Federal Loans (Direct Subsidized and Unsubsidized Loans, Direct Parent PLUS Loans and Direct Graduate PLUS Loans
Yes, Scholarships are available at PNW. There are three basic types of scholarships awarded to students at PNW:
- Specialty Scholarships (funded by donors) – complete the PNW Scholarship Application by February 1 each year (the application opens in early October) to receive consideration for most Specialty Scholarships. Some Specialty Scholarships require a separate application.
- Undergraduate Admissions Merit Scholarships – the Office of Admissions reviews eligibility for the Academic Achievement and PNW Transfer Scholarship, these scholarships are not donor-funded and do not require completion of the PNW Scholarship Application.
- External Scholarships – scholarships offered by external sources or found through scholarship searches
Complete the Free Application for Federal Student Aid (FAFSA). New and returning students who wish to receive consideration for financial aid (federal and state grants, federal work study, federal loans and select scholarships) must complete the Free Application for Federal Student Aid (FAFSA) every year. See the How to Apply for Financial Aid webpage for additional information.
Financial aid eligibility is reviewed and revised, as necessary, up until the Financial Aid Census Date each fall and spring semester. State financial aid eligibility is reviewed and revised, as necessary, up until the State Aid Census Date each fall and spring semester. Dates for each census are available at Important Dates and Deadlines. Other changes to your account may require an adjustment to your total financial aid award package. In some cases, changes could result in a balance due. Additionally, your financial aid may be revised due to classes being dropped. Students with financial aid should talk to the Office of Financial Aid before dropping classes to understand the impact on their financial aid awards fully.
Academic Standing, Transferring and FERPA
Undergraduate students must be enrolled in 12 or more credit hours each semester (including summer) to be considered full-time for financial aid. The tuition charges are the same for undergraduate students enrolled between 12 to 18 credit hours each semester. Contact the Office of Financial Aid for full-time enrollment information for graduate students.
Update your FAFSA to include your new school’s FAFSA code. The federal processor will then send your FAFSA data to the new school which will allow your new school to award you financial aid. If you will be transferring to another school and have been awarded financial aid at PNW, be sure to notify the Financial Aid Office. More information is available at the Transfer Your Financial Aid webpage.