Financial Aid FAQ

Table of Contents:

How do I apply for financial aid?
Please see How to Apply for Financial Aid for directions.

What is NWU’s FAFSA school code? 002555

If I file the FAFSA does it obligate me to use financial aid?
No. Completing the FAFSA does not obligate you to use financial aid.

How is financial aid awarded?
Financial aid is awarded on a semester basis. The financial aid award year begins with the fall semester and ends with the summer semester. Your award letter typically includes the maximum amount you qualify to receive for the fall and spring semesters.  Your summer eligibility is determined once you register for summer classes.

My advisor talks about sessions, but financial aid talks about semester? What’s the difference?
Your financial aid will always be awarded on a semester basis. A semester is comprised of multiple 5 week, 8 week and traditional semester long sessions. Within a semester you might take multiple classes in multiple sessions, but your financial aid will always be awarded for all the classes your take in a semester.

How is financial aid awarded if I take summer classes?
The summer semester is the last semester in the financial aid award year. Your eligibility is determined once you register for classes. To qualify for loans you need to be enrolled at half-time during the summer semester.  Please note – if you accepted the full amount of aid listed on your award letter for fall and spring you might not have any financial aid remaining to use for your summer tuition and fees.

Do I need to accept all the aid listed on my Financial Aid Award Letter?
No. It is in your best interest to borrow just what need to cover your tuition and fees.

How many hours do I need to enroll in each semester to qualify for financial aid?
To qualify for a Federal Direct Loan(s) undergraduate students need to be enrolled at least half-time (6 hour) each semester. To qualify for a Federal Direct Loan graduate students need to be enrolled at least half-time (3 hours) each semester.  If you are an undergraduate student who is Pell grant eligible, you might qualify for Pell grant if you enroll in less than 6 hours in a semester.  Pell grant alone is not enough to cover all your tuition and fees at NWU.

What is a Pell Grant?
See Types of Aid for more information.

What is the difference between a Subsidized and an Unsubsidized Loan?
See Types of Aid for an explanation.

Does Nebraska Wesleyan University offer scholarships to University College students?
NWU does not offer institutional scholarships to University College students, but a listing may be found on Outside Scholarships. Other helpful resources include EducationQuest and Fastweb.

How much will my classes cost?
A complete listing may be found on Tuition and Fees. Course specific lab fees are typically listed in the course schedule.
How do I figure my semester charges?

  1. Determine your cost per credit hour.
  2. Determine how many hours you plan to take for fall and spring semesters.
  3. Determine if you will be charged any fees such as lab fees (typically listed in the course schedule), Matriculation fee (charged to new degree seeking students), Nursing Evaluation Fee, etc.
  4. For example a returning Lincoln Advantage student ($265 per credit hour) taking 9 hours per semester (18 hours total not including summer) would be charged $4,770 for the year.
  5. You may view your current tuition statement through your WebAdvisor Account. Fall tuition statements are available by August 1. Spring tuition statements are available by January 2. If you are enrolled in summer classes, your summer tuition statement is available by early May.  You may view your tuition statement through WebAdvisor by clicking on “Your Current Tuition Statement”.

How much financial aid will I need to cover my tuition and fees?
A Lincoln Advantage student taking 9 hours per semester (18 hours total not including summer) would be charged $4,770 for the year. If you want to borrow just enough to cover your tuition charges, be sure to add enough to cover the approximately 1.1% origination fee that is charged to make the loan. In the example above you would need to borrow a total of $4,823. $4,770 + 1.1% fee = $4,823

When can I expect to receive my financial aid refund?
The disbursement of your Financial Aid is directly tied to your enrollment. Federal Direct Loans are disbursed to your student account about two weeks after the start of your sixth credit hour (for undergraduate students). Federal Direct Unsubsidized Loan is disbursed to your student account about two weeks after the start of your third credit hour (for graduate students).

Federal Pell grants are disbursed to your student account about two weeks after the start of each class. Federal Pell grants alone do not usually create a refund on your account. Most students will not receive a refund until your loan(s) are disbursed to your student account.

A “Financial Aid Disbursement Schedule” may be found on WebAdvisor.

What is the maximum amount of Federal Direct Loans I can receive per year?
Independent Undergraduate students may receive up to the following subsidized loan annually: Students may receive a loan up to the amount of need, but not more than $3,500 per year for first year students (under 26 credit hours), $4,500 for sophomores (26-57 credit hours), and $5,500 per year (58+ credit hours).

Independent undergraduate students may receive up to the following unsubsidized loan annually: first and second year independent students are eligible for $6,000 per year (up to the cost of attendance). Third year and beyond are eligible for an additional $7,000 per year (up to the cost of attendance).

Dependent undergraduate students may receive up to $2,000 unsubsidized loan annually.

Graduate students may borrow up to a maximum of $20,500; however, students cannot borrow more than their annual cost of attendance.

What is the maximum amount of Federal Direct Loans I can receive for my undergraduate degree?
Independent undergraduate students may borrow up to $57,500 in Federal Direct Loans for their bachelor’s degree. Of this total amount no more than $23,000 may be subsidized loan funds.

Dependent undergraduate students may borrow up to $31,000 in Federal Direct Loans for their bachelor’s degree. Of this total amount no more than $23,000 may be subsidized loan funds.

What is the maximum amount of Federal Direct Loans I can receive for my graduate degree?
Graduate students may receive up to $138,500 in Federal Direct Loans (including undergraduate loans) for a graduate degree. Graduate students are not eligible to receive subsidized loan funds.

Can I set up a payment plan for all or part of my semester tuition and fees?
Yes, please see Payment Options for details.

I will receive employer reimbursement. Can I set up a deferred payment plan?
Yes, for more information on deferred payment view Payment Options.

Is there a reason why I might not qualify to receive Federal Financial Aid?
Yes, you might not qualify for Federal Financial Aid if you meet one or more of the following:

  • If you are in default on any of your previous Federal Direct Loan(s) you will not qualify for additional Federal Direct Loan(s) until the default is resolved with your loan servicer.
  • You have reached the maximum amount of Federal Direct Loans allowed for your degree or your annual loan limits.
  • You are not meeting Satisfactory Academic Progress (SAP) requirements. For more about SAP visit the Regulations & Policies section of the NWU Financial Aid Website.

I have previous Federal Direct student loans I am paying on now. Do I need to continue to make payments on my previous loans while I’m attending NWU?
If you are attending at least half-time (6 hours per semester for undergraduate students and 3 hours per semester for graduate students) NWU will report that your are enrolled at least half-time. It can take a few weeks before your loan servicer is notified that you are enrolled at least half-time. Once your loan servicer is notified, your previous loans should enter an in-school status and you should not be required to make any payments. If your servicer is asking you to make payments while you are enrolled at least half-time, please contact your servicer to request an in-school deferment. If you don’t know who is servicing your Federal Direct Loans visit NSLDS. Interest may continue to accrue on your previous loans even during an in-school status.

How will NWU’s Financial Aid Office communicate with me?
We typically communicate with students via your NWU email account. Please check your NWU email often!

How do I forward my NWU email to my personal email account?
In Outlook Web App, click Settings, Options, Accounts, Connected accounts. Then in the Forwarding section, in Forward my email to, type the email address you want to forward your NWU email to and click the box “Keep a copy of forwarded message”. Click Start Forwarding.

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Contact or visit us

Nebraska Wesleyan University
Financial Aid Office, Smith-Curtis 207
5000 Saint Paul Avenue
Lincoln NE 68504
402.465.2582 FAX 402.465.2194
financialaid [at] nebrwesleyan.edu