How to Pay for Nova Southeastern University: Aid and Student Loan Options

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While Nova Southeastern University doesn’t top any of the most popular college rankings, it’s one of the most diverse universities in the nation. According to Diverse: Issues in Higher Education, the school ranked third on a 2017 list of graduate degrees awarded to students of color.

Attending the private nonprofit university isn’t cheap, though. For the 2018-2019 year, the cost of tuition and room and board is expected to be as high as $41,650.

That’s a hefty price tag for anyone. So, if you’re wondering how to pay for Nova Southeastern University and get your degree, we’ve got some ideas.

How to pay for Nova Southeastern University

Getting an education at one of the university’s 18 colleges and schools might sound difficult. But with these financing options for both parents and students, you’ll learn how to pay for Nova Southeastern University in no time.

Scholarships

While it’s wise to search for scholarships on your own, Nova Southeastern offers some resources to help. Its scholarship page includes:

  • Featured new scholarships
  • Undergraduate institutional scholarships
  • Graduate institutional scholarships
  • External scholarships
  • International scholarships

Institutional scholarships, which are offered by various colleges and schools at Nova Southeastern, typically become available in March and have deadlines in May or June.

Award amounts vary but there are 94 scholarships listed for undergraduate students and 151 for graduate students, so there are plenty of opportunities.

Besides these options, search for scholarships from other sources, including the Student Loan Hero $5K Scholarship.

Grants

If you do it right, you’ll have several opportunities to earn grants at Nova Southeastern University. For example, undergraduate students who demonstrate financial need might be eligible to receive the Federal Pell Grant.

Along with other federal grants, Nova Southeastern recommends that students apply for these grants:

  • Effective Access to Student Education Grant: This is a non-need-based grant for Florida residents. It offers $3,500 for the 2018-2019 school year. To qualify, you need to complete the NSU State Aid application, be enrolled full time, and have a minimum GPA of 2.0, among other requirements.
  • Florida Student Assistance Grant: This is a need-based grant for Florida residents who fill out the Free Application for Federal Student Aid. The award amount is $2,000 for the 2018-2019 school year. To be eligible, you need to complete the NSU State Aid application, be enrolled full time, and have a minimum GPA of 2.0, among other requirements.

Work-study programs

If scholarships and grants aren’t enough to cover your costs, consider taking advantage of a work-study program. Nova Southeastern University participates in the federal work-study program, which is available to students who demonstrate financial need.

Through this program, you can work up to 25 hours per week, and your pay rate will depend on your position. Other student employment options include:

  • America Reads and America Counts program: Federal work-study students can work between 10 to 25 hours per week serving as reading and math tutors for elementary students.
  • NSU Employment program: This is a non-need-based program that allows for students to get part-time, on-campus jobs to help pay for their education.
  • Job Location and Development program: With this program, you’ll get help finding part-time or full-time jobs off campus. You don’t need to demonstrate financial need to participate.
  • Florida Work Experience Program: This is a need-based program for undergraduate students who meet Florida residency, citizenship, and academic requirements and are enrolled at least half time.

Federal student loans

The U.S. Department of Education offers three loans that you can use to help cover the cost of attending Nova Southeastern:

  • Direct Subsidized Loan: To qualify for this federal loan, you need to be an undergraduate student who can demonstrate financial need. If you’re eligible, the government will pay your interest charges while you’re still in school, plus the first six months after you graduate. How much you can borrow depends on your year in school and the cost of attendance minus any other financial aid you’re receiving.
  • Direct Unsubsidized Loan: This is a non-need-based loan, but the government doesn’t foot the bill for your interest while you’re in school. Instead, interest accrues even though you don’t have to start making payments until you’re out of school for six months. You can get this loan if you’re a graduate or undergraduate student.
  • PLUS Loan: If you’re a graduate student or a parent who wants to help your student, PLUS Loans are another option. Like the Direct Unsubsidized Loan, interest accrues while you or your student are in school. Also, you’ll need to pass a credit check to get approved.

Private student loans

Hopefully, you can get most, if not all, of your education costs covered with scholarships, grants, work-study, and federal aid. But if you find yourself still falling short, private student loans can help.

Private student loans are issued by private lenders rather than the federal government. As a result, interest rates, eligibility requirements, and repayment terms can vary by lender.

Also, as with PLUS Loans, private student loan companies will run a credit check to determine whether to approve your application and what interest rate to charge you. If you don’t have a great credit score, though, you can typically get a cosigner on your loan to potentially help improve your chances of getting a good rate.

It’s also important to shop around and compare rates from several private student loans to make sure you get the best rate that’s available to you.

Affording Nova Southeastern University is possible

Figuring out how to pay for Nova Southeastern University can be easy if you know where to look. With these resources and financing options in mind, you should be well-equipped to pay for your education at the private university — preferably with as little debt as possible.

Take the time to research and apply for scholarships and grants for which you might qualify, and consider taking a job to avoid debt as much as possible. If you have to resort to student loans, consider both federal and private student loans.

As you do your due diligence in all these matters, you can stop worrying about how you’re going to afford your education and start thinking about the experiences you’re going to have when you get there.

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Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.