Northwestern boosts financial aid
Northwestern will significantly increase financial aid for its students, eliminate loans for incoming undergraduate students and provide University-funded scholarships to undocumented students who are graduates of U.S. high schools, Northwestern President Morton Schapiro announced today.
The changes, which also include increased financial assistance for graduate students and a limit on the amount of loans undergraduate students may have upon graduation, are already in place or will go into effect at the start of the 2016-17 school year, President Schapiro said.
“Northwestern University has always sought to attract the best students in the world and provide them with the financial support needed to obtain a Northwestern education,” President Schapiro said. “Our key priorities include enhancing existing financial aid and developing new programs that will enable even more students who are from low- and middle-income families and who are first-generation college students to attend Northwestern.”
A key part of the initiative is increased aid for undergraduate students. In the past five years, Northwestern has boosted financial aid for undergraduate students by 55 percent to approximately $160 million in 2016-17. The number of enrolled students eligible for federal Pell grants, which are available to students from low-income families, has increased to approximately15 percent of last fall’s entering first-year class.
“Our goal is to have 20 percent of the entering class be Pell-eligible by the year 2020,” President Schapiro said. “Northwestern is committed to increasing access for academically qualified students, regardless of their economic background.”
The funds for the additional financial assistance will come from gifts to the University, endowment earnings and other sources. A total of $147.2 million in scholarship funding already has been contributed to the University through We Will. The Campaign for Northwestern.
For U.S. undergraduate students, Northwestern is one of a relatively small number of colleges and universities that are “need-blind,” meaning it considers students for admission without taking into account their ability to pay. Northwestern also meets full need, meaning that after a student’s ability to pay is calculated, the University provides all the funds necessary to cover the costs above what the student’s family is able to pay.