Financial Aid FAQs

You can make sure you have completed all necessary steps in CAESAR. This information can be found in your To Do Item History. Navigate to: CAESAR > Main Menu > Student Financial Services > To Do Item History

Your financial aid award can also be viewed online. Navigate to: CAESAR > Main Menu > Student Financial Services > View My Financial Aid

Do not pay the anticipated aid amount on your invoice. Anticipated aid reflects the amount of financial aid that will be paid to your student account that has not yet been received. As financial aid funds are disbursed, they will be recorded as payments on your student account.

If any financial aid is cancelled either by the Financial Aid Office or by Student Finance, the anticipated aid amount will be reduced by the amount cancelled.

In the event anticipated aid has been applied to your student account for loan funds that are intended for your living expenses, you may be eligible to receive the funds via a cash advance. Contact Your Financial Aid Office to apply for a cash advance.

Financial aid recipients who withdraw from the University may be required to return a portion of their Title IV funds, Title IV-funded living expenses, and non-Title IV grant and scholarship aid.

Return of Title IV Funds

• If 0 – 60% of the quarter has elapsed before your withdrawal, you may keep the percent of the funds equal to the percent of the quarter that has elapsed (e.g. if 50% of the quarter has elapsed, you may keep 50% of the funds).
• If 60 – 100% of the quarter has elapsed before your withdrawal, you may keep all of the funds.

Repayment of Title IV-Funded Living Expenses

You may need to repay some of the Title IV financial aid that was given to you as a cash disbursement (excluding federal work-study) to cover living expenses (educational costs above and beyond tuition and fees, such as books, transportation, etc.)

Return of Non-Title IV Grant and Scholarship Aid

If the amount of non-Title IV funds (state assistance, outside scholarships and/or University-appropriated grants) you received exceeds any unpaid University charges, you may be required to return the remaining portion. If any funds remain after all necessary adjustments have been made, you may keep them; if a balance is due on your tuition account, you must make the appropriate payments.

For more information about Federal Financial Aid programs, refer to the website of your Financial Aid office or contact them directly. Federal Title IV Financial Aid includes:

• Stafford Loans
• Grad PLUS Loans (for graduate students)
• PLUS Loans (for parents of undergraduates)
• Pell Grants (for undergraduates)
• Supplemental Educational Grant (SEOG for undergraduates)
• Work-Study Program

Federal Title IV financial aid is applied directly to your student account, which contains charges for tuition, allowable fees, and room and board (which may include off-campus living expenses).

You may authorize the University to pay for all charges billed to your student account, including charges such as library fines, parking fines, room damage charges, and health service fees. You may change this authorization at any time by contacting Student Finance.

If the financial aid applied to your account exceeds the amount due on your bill (actual Account Balance, not Anticipated Aid), you may request a refund online through CAESAR after classes begin. Navigate to: CAESAR > Main menu > Student Financial Services > Request a Refund. Note that, for most programs, credit account balances are not automatically refunded; they must be requested for each applicable term.

After your request is approved, the amount remaining in your account may be refunded via direct deposit to your financial institution or by check. Direct deposit is the quickest way to receive your refund. To sign up for direct deposit, navigate to: CAESAR > Main Menu > Student Financial Services > Setup Direct Deposit. If you are unable to use CAESAR, you may request a paper Direct Deposit form by contacting Student Finance.

When your refund has been processed, you will receive an e-mail notification at your Northwestern email address.

Except for graduate students in Bienen, Kellogg, Medill, and Pritzker, students do not receive automatic refunds of credit balances. Students must request their refunds each term. You can request your refund online through CAESAR after classes begin. Navigate to: CAESAR > Main Menu > Student Financial Services > Request a Refund. After the request is approved, it will be directly deposited to your financial institution (if you have elected this option) or made available to you by check.

Federal Work-Study funds are not automatically credited toward tuition and fees. They are issued directly to you. The University Payroll department now requires work-study paychecks to be direct-deposited into your bank account.

If your grant or scholarship exceeds qualified tuition and related expenses, it may be taxable and therefore reportable to the Internal Revenue Service (IRS). Qualified tuition and related expenses are defined as tuition and fees required for enrollment or attendance and fees, books, supplies, and equipment required for courses and instruction.

You should direct questions concerning the taxability of a grant or scholarship to the IRS or a qualified tax consultant. See the IRS website FAQs for more information.