FINANCIAL AID


North American University welcomes students from all corners of the world with various economic backgrounds. NAU strives to increase the accessibility of the University’s educational programs to all qualified students. We are committed to helping students and their families access various sources of financial aid to provide a comprehensive financial aid package to all eligible students throughout their course of study.

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SCHOLARSHIPS
GRANTS
LOANS
WORK STUDY
VET. BENEFITS

NAU offers the following types of aid:

Scholarships

Federal Grants

Student Loans

Work Study

Military & Veteran’s Benefits

Scholarships

University scholarships are available to eligible undergraduate students. For more information on the eligibility requirements and criteria for annual renewal, visit NAU Scholarships

Federal Grants

Grants are financial assistance awarded to eligible students demonstrating financial need. This type of financial aid does not require repayment. Complete the FAFSA to be considered for federal grant eligibility each academic year.

Federal Pell Grant

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree that demonstrate exceptional financial need. Pell Grants are awarded to students who are eligible based on the results of the FAFSA and their Expected Family Contribution (EFC). The amount awarded will depend on the student’s enrollment status. NAU uses Pell Formula 1 and considers 12 credit hours or more each semester as full-time.

The duration of a student’s eligibility to receive a federal Pell grant is 12 full-time semesters. The calculation of duration will include all years that the student previously received the Federal Pell Grant funding. Students may not receive Federal Pell Grant funds from more than one school at a time.

  • PELL GRANT RECALCULATION

    The Pell Grant recalculation date (PRD) is a date in the semester when the Financial Aid Office is required to evaluate your Federal Pell Grant eligibility based on your current enrollment status. If the Pell Grant you were awarded does not match your current enrollment status, your award will be adjusted. NAU uses the semester Census Date as the Pell Grant recalculation date. Pell Grant recalculation will occur if there are any changes in enrollment prior to the census date. The award amount may be reduced or increased, as applicable. Any classes added after the Pell Recalculation Date will not count towards your Federal Pell Grant eligibility, regardless of the start date for the class. Failure to begin attendance in any course will result in a mandatory recalculation of Pell Grant eligibility.

Federal Supplemental Opportunity Grant (FSEOG)

The Federal Supplemental Educational Opportunity Grant (FSEOG) is a federal grant to assist undergraduate students with exceptional financial needs, as determined by the FAFSA. Funding is limited. Pell Grant recipients with the greatest need (Expected Family Contribution (EFC) = 0) will be given priority. Students must be enrolled at least half time (6 credits) to be considered. Award amounts may vary based on available funding and enrollment status.

Federal TEACH Grant

The Teacher Education Assistance for College and Higher Education (TEACH) Grant program provides funds to eligible undergraduate students who agree to teach full-time for at least four years in a high-need field at a low-income school.

To receive a TEACH Grant, students must sign a TEACH Grant Agreement to Serve or Repay in which you agree to the following:

(If you plan to teach in a high-need field that is included in the Nationwide List, that field must be listed for the state at the time you begin teaching in that field, even if that field is later removed from the Nationwide List; or at the time you signed your Agreement or received your TEACH Grant, even if that field is no longer designated as high-need when you begin teaching).

  • Complete the required four (4) years of teaching within eight (8) years after you graduate from or otherwise cease to be enrolled at NAU (students track their teaching service using a form that must be submitted to the U.S. Department of Education each year).

Due to the Budget Control Act of 2011, known as the “sequester law,” TEACH Grants are required to be reduced from the award amount for which the student would otherwise have been eligible. The table below describes the maximum annual award amount based on the sequester for grants disbursed on or after October 1, 2021, and before October 1, 2022.

Enrollment Status Statutory Max. Award Amount % Reduction Adjusted Max. Award/Year Adjusted Max. Award/Semester
Full Time (12+ credits) $4,000 5.70% $3,772 $1,886
Quarter Time (9 – 11 credits) $3,000 5.70% $2,829 $1,415
Half Time (6 – 8 credits) $2,000 5.70% $1,886 $943
Less Than Half Time (3 – 5 credits) $1,000 5.70% $943 $472

Undergraduates seeking a teacher certification in a high-needs field may qualify

The following requirements must be met to receive a TEACH Grant at NAU:

  • U.S. citizen or eligible non-citizen
  • Complete a FAFSA with a valid expected family contribution (EFC) each year
  • Undergraduate student pursuing first bachelor’s degree in an approved education program
  • Classified as a junior or senior with 60 or more credit hours completed
  • Pursuing Initial Teacher Certification in a high-need field at NAU
  • Minimum cumulative GPA of at least 3.25
  • Plan to teach full-time at a low income/Title I school for at least four (4) years within an eight (8) year period of completing the program which the TEACH Grant was awarded for.
  • Minimum 3 credit hour enrollment
  • Complete TEACH Grant Initial & Subsequent Counseling and sign an Agreement to Serve (ATS) each year you wish to receive the grant
  • Complete TEACH Grant Exit Counseling upon graduation or withdrawal from NAU

To apply, complete the TEACH Grant Application and upload it via Financial Aid Student Portal. Within 5 business days, you will be notified of your application status and given further instructions via email.

Student Loans

Student loans are borrowed funds that must be repaid with interest. NAU offers the Federal Direct Stafford Loan to eligible students. There are many flexible repayment plans available. The amount that students are eligible for varies. Additionally, parents of dependent students may also be eligible to request a Direct Parent PLUS Loan to meet the cost of attendance. Eligible students must maintain half-time enrollment to qualify for disbursement.

If further assistance is needed or if a student is ineligible or has exhausted all federal aid, there may be other loan options available to help meet educational expenses. Private student loans are available through private lending institutions. The loan terms, interest rates and fees will vary by lender. NAU encourages students to evaluate their budget and resources each semester and only borrow the amount of loans needed.

Federal Direct Loans

The Federal Direct Subsidized Loan is available to undergraduate students who demonstrate need, as determined by the FAFSA. The interest accrued on these loans is paid for by the government while the student is at least half-time enrolled. There are time limits designating how long a student can receive a subsidized loan. Find out more about these time limits. The maximum an undergraduate can be offered in a subsidized loan in a year range from $3,500 to $5,500 based on the student’s class level.

The Federal Direct Unsubsidized Loan is available to all undergraduate students who have filed a FAFSA. Interest accrues on these loans while the student is in school.

Federal Direct PLUS loans are for graduate/professional students and parents of dependent undergraduate students. Borrowers can use PLUS loans to help meet the cost of attendance.

Requirements

In addition to completing a FAFSA, federal student loan borrowers are required to complete the following:

Entrance Counseling Entrance counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You’ll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default. Click here to access the Federal Direct Loan Entrance Counseling Guide.
Master Promissory Note The Master Promissory Note (MPN) is a legal document in which you promise to repay your loans(s) and any accrued interest and fees to the U.S. Department of Education. The MPN also explains the terms and conditions of your loan(s).
Exit Counseling Exit Counseling is required for Federal Direct Loan borrowers when a student leaves or graduates from NAU or is no longer enrolled at least half-time. Click here to access the Federal Direct Loan Exit Counseling Guide.

Private Loans

A private student loan is a non-federal education loan borrowed from a private lender such as a bank, credit union, or other financial institution and should be a student’s last option for educational assistance. Only students who need additional funds beyond what they qualify for in federal and non-federal student aid should consider applying for a private education loan.  If you are considering student loans offered by private lenders such as banks or credit unions, please first:

  • Ensure have exhausted all other possible sources of financial aid, including federal loans first.
  • Students should contact their personal bank, credit union, or other private lending institution to see if they provide private education loans.
  • Look for ways to reduce your expenses before you decide how much to borrow.
  • Borrow only what you absolutely need.
  • Ask questions and compare the rates and terms offered by different lenders.
  • Apply directly through the lender of your choice.
  • If your selected lender approves your private education loan application, then the lender submits a certification to the FA department to request our confirmation.

Consider the general pros and cons with your family thoroughly before applying. Remember, there are crucial differences between federal and private student loans:

  • Interest Rates – Interest rates for private student loans are usually higher than those for federal student loans and are generally not fixed.
  • Loan Fees – Private lenders may charge additional fees such as origination fees, monthly service charges, or late fees.
  • Eligibility – In general, private student loans have stricter eligibility requirements. Lenders may require a good credit score and a co-signer. Your selected lender determines their loan application eligibility criteria. Note: If you are an international student, you will be required to have a credit-worthy United States citizen as a co-signer to obtain a private education loan.
  • Loan Amounts – The maximum amount you can apply for is your cost of attendance minus any other financial aid you are receiving or your lender’s required Enrollment Status.
  • Repayment Plans – Private lenders may not offer repayment plans that are as flexible as those offered for federal student loans, such as income-based or extended payment plans.
  • Other Differences – Visit Federal Student Aid on the Web for more information on federal versus private loans.

Private education loans are subject to credit approval and may be denied. To increase your chances of getting approved for a private loan, consider having a creditworthy person cosign for the loan.

Private Loan Self Certification Form

Before disbursement of any private education loan can occur, a Private Loan Self-Certification Form must be completed. This form is part of the application process you complete through your lender.

Work Study

Federal Work Study (FWS) is a federally subsidized financial aid program that provides part-time jobs for eligible undergraduate and graduate students with demonstrated financial need, allowing them to earn money to help pay for educational expenses.

To be eligible for FWS employment, a student must:

  1. Have a valid FAFSA on file for the current academic year
  2. Indicate interest in federal work study on the FAFSA
  3. Demonstrate financial need
  4. Maintain at least half-time enrollment (6 credit hours)
  5. Meet satisfactory academic progress (SAP) requirements
  6. Complete all required financial aid documentation

FWS funding is limited. Therefore, priority consideration will be given to students who complete the FAFSA by the priority deadline and meet all eligibility criteria.

Eligible students are automatically awarded FWS until available funds are exhausted. The FWS award amount depends on availability of funds and the student’s financial need. The FWS award cannot exceed a student’s financial need. Student employees may not earn more than the dollar amount of their award. Any portion of the award that remains unearned at the end of the academic year will be forfeited.

Available positions are posted on NAU Student Jobs. Students must apply to the hiring office following the procedures posted online. Receipt of federal work-study does not guarantee employment. Hiring is at the discretion of the hiring office and NAU administration.

All FWS students are paid at least the federal minimum wage. FWS is not deducted from your University invoice or bill. Instead, students are issued a paycheck bi-weekly for work hours as documented on your timecard.
Military and Veteran Benefits

VA education benefits help veterans, service members, and their qualified family members to pay for college. NAU proudly accepts most types of VA Education Benefits. There are a variety of educational benefits for veterans available that you may qualify for. APPLY

NAU’s VA Office will need a copy of your Certificate of Eligibility and all other required documents for certification.

How to Apply
Types of VA Education Benefits

CONTACT US

OFFICE OF FINANCIAL AID

Email: financialaid@na.edu

Financial Aid Advisor
Amber Chauvin
Student Last Name: A-L
(832) 230-5074
Financial Aid Advisor
Savior Williams
Student Last Name: M-Z
(832) 230-5557
Financial Aid Coordinator
LaQuinta Fleming
(832) 464-8692