The chart below provides a partial list of the terms and conditions for the Endowed Loan:
- General Information
- Interest Rates
- Repayment Information
Since these details vary by origination date and exact loan type, borrowers should refer to their promissory note for the actual terms and conditions for their loans.
| General Information |
|
|---|---|
| Lender | Northwestern University (from many different private donor bequests) |
| Servicer | Northwestern Student Loan Office |
| Borrower | Undergraduate, graduate and professional students |
| Co-maker | Some Endowed Loans require a credit-worthy co-maker who is a U.S. citizen. |
| Application process | If your Financial Aid Office has awarded you an Endowed Loan, you can apply online (CAESAR > For Students > Financial Services > NU Loan Application > OWLS). |
| Promissory Note | When your loan has been approved, the promissory note is mailed to the co-maker, if any, for his or her signature. Then you sign the note and return it to the Student Loan Office. |
| Fees | Application fee: None Insurance fee: None Origination fee: Yes, for some Endowed Loans |
| Loan disbursement | Applied to your student account by term per your award letter. |