The Northwestern University Loan (NU Loan) is offered in financial aid packages for U.S. and international students and parents of undergraduate students.
The chart below provides a partial list of the terms and conditions for the NU Loan:
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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.
| Interest Rate Information |
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| Rate type | Variable, set annually on September 1 based on the cost of the not-for-profit program. See NU Loan Historical Interest Rates for past rates. | ||
| Recent rates |
Borrower • Parent • Parent supplemental loan • U.S. student need-based loan • U.S. student optional loan • International student with U.S. co-maker • International student with international co-maker |
2011-12 6.50% 7.00% 6.50% 7.00% 7.00% 7.50% |
2012-13 5.00% 5.50% 5.00% 5.50% 5.50% 6.00% |
| See the NU Loan Interest Rate Change page for more information. |
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| Rate cap | Per state of Illinois statute | ||
| Accrual | In school: Yes. Interest begins to accrue once the loan is disbursed. In grace period: Yes, if a grace period exists. In forbearance: Yes Capitalization: Yes, at the end of grace and forbearance periods. |
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