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

Note that the situation for student loans has changed due to the impact of the coronavirus outbreak and relief efforts from the government and many lenders. Check out our Student Loan Hero Coronavirus Information Center for additional news and details.

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Before packing your bags for Nova Southeastern University, you’ll need a plan to cover costs. According to NSU’s financial aid office, Nova Southeastern’s cost of tuition per semester is $16,185 for the 2020-21 school year. The estimated annual cost for room and board, including a meal plan, is $9,240 to $16,764.

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 cover Nova Southeastern University costs

Getting an education at one of this South Florida-based university’s 17 colleges 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. Specifically, you’ll want to look at some or all of the following options:

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, which are updated frequently and include both internal and external awards that have an upcoming deadline
• Undergraduate institutional scholarships, which are offered by NSU programs and centers for undergraduate students
• Graduate institutional scholarships, which are offered by NSU programs and centers for graduate students
• External scholarships, which are offered by outside organizations and are typically available every year
• International scholarships, which are available for international students

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

Award amounts vary, but, as of the time of writing, there are as many as 50 scholarships listed for undergraduate students and 65 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, which offered $2,841 for the 2019-2020 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 available to Florida residents who have filled out the Free Application for Federal Student Aid (FAFSA), with an award amount of $2,000. 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 Student 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, with a focus on community service. 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 University:

• Direct subsidized loan: To qualify for this federal loan, you need to be an undergraduate student who demonstrates 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 an undergraduate or graduate 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. You’ll also 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 still find yourself 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.

In addition, as with federal PLUS Loans, private student loan companies will run a credit check to determine whether to approve your application and the interest rate you’ll be charged. 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 to cover your Nova Southeastern University cost of attendance.

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.

Rebecca Safier contributed to this report.