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

Federal 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 Student Aid Index (SAI). The amount awarded will depend on the student’s enrollment intensity, which refers to the percentage of full-time enrollment at which a student is enrolled, rounded to the nearest whole percent.

For example,

  • Enrollment Intensity = (Enrolled Credit Hours) / (Full-Time Credit Hours) × 100%
  • Enrollment Intensity = (7) / (12) × 100% = 58% (rounded to the nearest whole percent).

Beginning with the 2024-25 award year, a student may qualify for a Pell Grant in one of three ways:

  • Maximum Pell Grant (Max Pell)
  • Minimum Pell Grant (Min Pell)
  • Calculated Pell Grant, based on SAI (Calculated Pell = Max Pell minus SAI)

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 (Student Aid Index (SAI) = -1500) 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, 2020, and before October 1, 2024.

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 enrolled in the B.S. Interdisciplinary Studies in Education program 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.

While we understand that you may not be prepared to accept a loan immediately after it has been offered and may need further time to plan, it is important to be mindful of all loan deadlines. Generally, a federal student loan will be available throughout the academic year during which is was offered.

Requests for Federal Direct Subsidized Loans, Unsubsidized Loans, and Parent PLUS Loans will be processed throughout the semester of enrollment on a rolling basis. However, in order to guarantee the disbursement of your loan, all requests — including entrance counseling and master promissory notes(MPN) for first-time borrowers — must be received by our final deadlines. We recommend allowing a minimum of 2 weeks from the date of loan acceptance for disbursement to occur. Requests received after the final deadlines cannot be guaranteed.

All necessary documents, including verification documents, entrance counseling, Master Promissory Note (MPN), and loan acceptance, must be received by the second to last week before the semester ends.

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:

  • Exhaust All Options – Before considering student loans from private lenders, make sure you’ve explored all other potential sources of financial aid, including federal loans.
  • Contact Your Personal Bank or Credit Union – Reach out to your personal bank, credit union, or other private lending institutions to inquire about private education loans they offer.
  • Evaluate Your Expenses – Take a close look at your expenses and find ways to reduce them before determining how much you need to borrow.
  • Borrow Conservatively – Only borrow what is necessary for your education expenses.
  • Compare Rates and Terms – Ask questions and compare interest rates and terms offered by different lenders to make an informed decision.
  • Direct Application – Apply directly through the lender of your choice.
  • Lender Certification – If your selected lender approves your private education loan application, they will submit a certification to the Financial Aid department for 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. Demonstrate financial need
  3. Maintain at least half-time enrollment (6 credit hours)
  4. Meet satisfactory academic progress (SAP) requirements
  5. 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

North American University is committed to assisting the men and women of the United States Armed Forces, as well as their spouses or dependents, achieve their education and career goals by providing access to VA education benefits.

The following are federal VA Education Benefits that can be applied for through the Veterans Administration and utilized at NAU:

Chapter 30 Montgomery GI Bill Active Duty (MGIB-AD)

  • The Montgomery GI Bill (MGIB) is an educational assistance program that provides up to 36 months of education benefits to help with tuition and training costs to those who have served on active duty.

Chapter 31 Vocational Rehabilitation and Employment (VR&E)

  • This education benefit is for military veterans who have a service-connected disability of 10% and higher helps with vocational rehabilitation services.

Chapter 33 Post 9/11 GI Bill

  • The Post-9/11 GI Bill, also known as Chapter 33, provides financial support for education and housing to:
    • Individuals with at least 90-days of aggregate service on or after September 11, 2001,
    • For individuals discharged with a service-connected disability after 30-days,
    • Dependent children and spouses using benefits transferred from a qualifying veteran.

Chapter 35 Dependents Educational Assistance (DEA)

  • If you’re the spouse or child of a veteran or active service member who has died, is captured or missing, or is permanently or totally disabled as the result of a service-connected disability, you may be able to get help paying for college or professional training through the DEA program.

Chapter 1606 Montgomery GI Bill Selected Reserve (MGIB-SR)

Educational program for members who are actively participating in the Selected Reserve. Selected Reserve components include the Army Reserve, Naval Reserve, Air Force Reserve, Marine Corps Reserve, Coast Guard Reserve, Army National Guard, and Air National Guard. The Department of Defense and the Department of Homeland Security (Coast Guard) determine who’s eligible for chapter 1606. The Department of Veterans Affairs administers the program and pays benefits.

  • Recipients receive a monthly stipend from the VA and can receive up to 36 months benefits.

Here at NAU, we have an array of degree programs that can be covered with Veterans Benefits:

  • BS Business Administration – Finance
  • BS Business Administration – Management
  • BS Business Administration – International Business
  • BS Computer Science – Computer Networking
  • BS Computer Science – Software Engineering
  • BS Criminal Justice – Forensic Science
  • BS Interdisciplinary Studies in ED. – English
  • BS Interdisciplinary Studies in ED. – Mathematics
  • BS Interdisciplinary Studies in ED. – Elementary Education
  • MBA – Business Analytics
  • MBA – Leadership & Change Management
  • MS Computer Science – Cyber Security
  • MS Computer Science – Data Analytics
  • MS Computer Science – Networking
  • MS Computer Science – Software Engineering
  • M.ED Curriculum & Instruction – Math Education
  • M.ED Curriculum & Instruction – Science Education
  • M.ED Curriculum & Instruction – Educational Technology Education
  • M.ED School Counseling
  • M.ED Educational Leadership

  1. Apply for Admissions to North American University.
  2. Request Transcripts and upload to your student portal.
    • Request copies of transcripts from all colleges and/or universities previously attended.
  2. Apply For Financial Aid on https://studentaid.gov/h/apply-for-aid/fafsa
    • Receiving VA Educational Benefits doesn’t prevent you from receiving financial aid.
    • Complete the FAFSA application, using NAU’s school code: 041795.
    • If you need to make payment arrangements on a balance not covered by VA benefits and/or financial aid, please visit Student Accounts.
  2. Apply For VA Benefits on https://www.va.gov/education/how-to-apply/
    • If you have never applied for education benefits, fill out VA Form 22-1990, application for VA Education Benefits.
    • If you are a transferring student and have used VA education benefits before, fill out VA Form 22-1995, to make a change of program or place of training. For Chapter 35 (DEA), please complete the VA Form 22-5495 to make a change of program or place of training.
    • Make sure you put in your direct deposit information when applying for your benefits.
    • Please print the VONAPP confirmation page and retain with your student records.
    • You will receive a Certificate of Eligibility (COE) in the mail. Please turn in this document to the school once you receive it. We cannot certify your benefits without it.
  3. Register for Classes.
    • Register for classes and submit your schedule along with your academic worksheet to the Financial Aid Office.
    • You can only take classes that are on your academic worksheet.
  4. Request for Certification.
    • Notify the Financial Aid Office to add the VA Certification link to your portal so you can upload the required documents.
    • Please have all required documents prior to submitting your request for certification. Incomplete requests will not be processed. 

  1. Apply for educational benefits
  2. Service member’s DD214
  3. VA Certificate of Eligibility (COE)
  4. Military transcript (if applicable)
  5. Transcripts from previous colleges/universities (if applicable)
  6. Academic worksheet for your current major at NAU
  • More than likely, you will not have the VA Certification link in your portal until Financial Aid puts it in manually. Make sure you notify them directly at financialaid@na.edu to make the link available to you.

Failure to Submit All Required Documentation Will Delay VA Payment!!!

CONTACT US

OFFICE OF FINANCIAL AID

Email: financialaid@na.edu

Financial Aid Coordinator
Roberto A. Hernandez
Student Last Name: O-Z
(832) 464-8692

Financial Aid Advisor
Amber Chauvin
Student Last Name: A-F
(832) 230-5074

Financial Aid Advisor
Katherine Lopez
Student Last Name: G-N
(832) 230-5089