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Federal Financial Aid

NAU recognizes that many students would be unable to pursue their educational goals without financial assistance.  NAU provides financial aid in the form of grants, scholarships, and low-interest loan programs through federal, state and local sources.

Most students are eligible for financial aid. Complete the Free Application for Federal Student Aid at https://studentaid.ed.gov/sa/fafsa to find out if you qualify for Federal Financial Aid.  Different types of aid have different rules.  The amount of aid available to you also depends on if you are a Dependent Student or Independent Student.

Because of the limited amount of funds in certain programs, it is imperative that you complete and return/submit your financial aid applications as soon as possible.

Your Financial Service Representative will be communicating frequently regarding your financial aid in the form of e-mail, text or through the student portal, please be sure to check your e-mail and the portal frequently.  You can access the NAU Student Portal at https://mycampus.national.edu .

Eligibility for Federal Student Aid

Federal student aid helps students who qualify to pay for college.  To receive federal student aid you need to:

  • Be accepted for enrollment as a regular student working towards a specific degree
  • Have a high school diploma or a recognized equivalent such as one of the following:
    • a General Educational Development (GED) certificate (HiSET, TASC, or California High School Proficiency Exam are also accepted)
    • have completed a high school education in a homeschool setting approved under state law
    • an Associate’s degree that is acceptable for full credit toward a Bachelor’s degree
    • completion of 72 quarter credit hours (60 semester credit hours) that is acceptable for full credit toward a Bachelor’s degree
    • completion of 72 quarter credit hours (60) semester credits hours, including transfer credits hours, into your Bachelor’s degree
  • If you are male, you must have registered for Selective Service between the ages of 18 and 25
  • Have a valid Social Security Number
    • unless you are from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau (eligible for Federal Pell Grant only, no Federal Student Loans)
  • Sign certifying statements on the Free Application for Federal Student Aid (FAFSA) stating that you:
    • are not in default on a federal student loan AND
    • do not owe a refund or overpayment on a federal grant AND
    • you will use federal student aid only for educational purposes
  • In addition, you must:
    • Be a U.S. Citizen or U.S. National
    • Have a Green Card or Permanent Resident Card
    • Have an Arrival-Departure Record showing a status of: Refugee, Asylum Granted, Cuban-Haitian Entrant (Status of Pending), Conditional Entrant (issued prior to 1980), or Parolee
    • Have a Battered Immigrant Status
    • Have a T-Visa

Applying for Aid  

applying-for-aid-video  https://studentaid.ed.gov/sa/fafsa

Before you apply for financial aid, determine how much aid you will need to cover your tuition, fees, and books.  If taking out student loans, be mindful that these loans must be paid back whether or not you graduate.  We encourage you to take the least amount of loans possible so that your loan repayment amount is manageable.

  • All Students (and if dependent, your parent(s)) will need a Federal Student Aid (FSA) ID and Password (FSA ID) if you plan to apply for Financial Aid.

If you do not have an FSA ID and Password, you will need to apply for one. 

How to Create an FSA ID

Go to FSA ID to start the process!

  • All Students (and if dependent, your parent(s)) will need to complete the 2019/20 Free Application for Federal Student Aid (FAFSA) if you plan to apply for Financial Aid.

 


What is the FAFSA?
Every award year you will need to apply for Federal Financial Aid, please complete the FAFSA for the 2019/20 award year on the FAFSA website

  • If you have already completed your FAFSA for this award year, please use your FSA ID and make a correction by adding our school code, 004057 Rapid City SD (for all NAU locations), on the FAFSA website.

 

If you filed a Federal Tax Return for 2017, please use the IRS Data Retrieval tool to download your 2017 Federal Tax Return information directly onto your FAFSA.

IRS Data Retrieval Tool

  • All Students – Internal Financial Aid Forms

Your NAU Finance Counselor will assist you with the completion of any internal financial aid forms during your Financial Aid Appointment. 
STOP HERE:  Do Step 4 after you have received your Student Aid Report (48 hours after the FAFSA was completed).
Note:  Previous student Direct Loan Borrowers regardless of which school attended DO NOT need to complete Step 4.  However, if you are a new student to NAU and your name changed since you last borrowed a student loan, you will need to complete a new Promissory Note.

  • All students need to complete Federal Direct Loan Process if you plan to apply for Financial Aid.

Direct Stafford Loan Master Promissory Note
The Subsidized/Unsubsidized Master Promissory Note (MPN) is a legal document in which you promise to repay your federal student loan(s) and any accrued interest and fees to your lender or loan holder. There is one MPN for Direct Subsidized/Unsubsidized Loans.  Most schools are authorized to make multiple federal student loans under one MPN for up to 10 years.
What is a Subsidized/Unsubsidized MPN?

You will need to access https://studentloans.gov to complete the Direct Stafford Loan Master Promissory Note. 
Regardless of which NAU location you are attending, be sure to choose the “School State” as South Dakota and the “School Name” as National American University (no city listed).  This should bring up NAU with a Rapid City, SD address. 

  • Click on the "Log In" and enter your FSA ID and password.
  • Double-check the personal information in the upper left-hand corner.
  • Chose "Complete Loan Agreement for a Subsidized/Unsubsidized Loan (MPN)”

Direct Stafford Loan Entrance Counseling
If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming.
What is Entrance Counseling?

If you are completing entrance counseling to borrow a loan as an undergraduate student, then the entrance counseling will fulfill counseling requirements for Direct Subsidized Loans and Direct Unsubsidized Loans.
You will need to access https://studentloans.gov for Direct Stafford Loan Entrance Counseling. 
Regardless of which NAU location you are attending, be sure to choose the “School State” as South Dakota and the “School Name” as National American University (no city listed).  This should bring up NAU with a Rapid City, SD address. 

  • Click on the "Log In" and enter your FSA ID and password.
  • Double-check the personal information in the upper left-hand corner.
  • Choose "Complete Entrance Counseling".   Do not choose “Complete Financial Awareness Counseling”.  Click on the button to complete entrance counseling as an Undergraduate student, even if you are a graduate or professional student.

Please pursue all other avenues of financial assistance available to you to reduce your student loans, which may include: Company Tuition Assistance,  Military Education Benefits, non-federal grants (BIA, Tribal Assistance, etc.), State Vocational Rehabilitation benefits, private alternative loans, Workforce Investment Act(WIA), Training Assistance Act (TAA), gifts, etc.

FAFSA

To apply for federal financial aid, you need to complete the Free Application for Federal Student Aid (FAFSA).  Completing this form doesn’t take a lot of time.  The information you provide on this form helps determine the type and amount of aid you are eligible to receive.  Fill out the FAFSA now.

Video: What is the FAFSA

Private Loans

A private loan is a much better option than a credit card.  However, you want to make sure that you have exhausted all of your other financial aid options before deciding a private loan is necessary, such as Federal Financial Aid, Scholarships, and other aid such as state aid or even your savings.  Grants and scholarships don’t generally have to be paid back and Federal Student Loans generally offer low-interest rates as well as flexible repayment and consolidation options.  Have you submitted your Free Application for Federal Student Aid?  Have you received your Financial Aid Award Letter?

Only if you have exhausted all of your federal options, scholarships, and other aid should you consider a private loan.

Visit FASTChoice, the starting place to apply for a Private Loan.  It contains a list of Private Loans and borrower benefits available from certain lenders.  You have the right to choose any lender you wish to make your loan, even if you have used a different lender for one or more previous loans.

Federal Student Loan Management

NAU provides students with assistance managing their Federal Student Loans while in school and after their time with NAU. 

 If you are unsure about your loan repayment options or if you have any questions or concerns regarding this obligation, please feel free to contact NAU’s Loan Repayment Team at 800-609-1427 or email us at loanrepayment@national.edu 

Loan Repayment 

https://national.financialaidtv.com/play/14606-loan-repayment/2230-when-do-i-begin-repayment-my-federal-direct-student-loan
Your federal loans are like any other type of loan.  Whether or not you complete your degree, you will need to repay them.  Your Financial Services Representative will discuss this process with you once you complete the necessary documents to determine your loan eligibility.


Repayment Plans

https://studentaid.ed.gov/sa/repay-loans#repayment-plan
There are many different repayment options for Federal Direct Student Loans.  Click here for more information:




Loan Consolidation
is an option to consider when it’s time to repay your loans.  There are pros and cons – read more on loan consolidation.  

https://national.financialaidtv.com/play/803-loan-terms/293-what-does-it-mean-consolidate-federal-loan



Financial Services Contact Information

If you have any questions or need assistance completing these applications, please do not hesitate to contact your Finance Counselor Team at (816) 600-3950.  You may also e-mail your Finance Counselor Team at naufinacialservices@national.edu.