Refunds and Short-Term Loans
Refunds
When the financial aid applied to your account exceeds the amount due on your bill’s Account Balance, you can request a refund of those extra funds after classes begin. This refund typically covers living expenses. Steps to receiving a refund:
1. Verify that you are eligible for a refund
Use CAESAR to check your account (CAESAR > For Students > Financial Services > View My Account). You must have a credit in your Account Balance (not Anticipated Aid) to be eligible for a refund.
2. Request a refund
You must request a refund each term; it is not automatically refunded. Use CAESAR (CAESAR > For Students > Financial Services > Request a Refund) to specify the refund amount (if different from your balance) and select a refund format (mail or direct deposit).
3. If you have not established direct deposit, consider setting it up at this time
The quickest way to receive your refund is to sign up for direct deposit through CAESAR (CAESAR > For Students > Financial Services > Setup Direct Deposit). If you are unable to use CAESAR, you may request a paper Direct Deposit form by contacting the Office of Student Accounts. If you do not have an active direct deposit authorization filed with the Office of Student Accounts, you may choose to have a refund check mailed one of your active addresses.
4. Receive your excess funds
When your refund has been processed, you will receive a generic e-mail notification at your Northwestern e-mail address. The amount remaining in your account is refunded to you either by a check to you or via direct deposit to your financial institution.
Short Term Loans and Cash Advances
Eligibility Criteria
The following three conditions must be satisfied to receive an emergency loan or a cash advance: - You must be enrolled in a degree-seeking or professional health certificate program.
- You must have a valid Northwestern University student identification card (NU WildCARD) with you when you apply.
- Your academic year must be in session. Emergency loans or cash advances cannot be processed before the start or after the end of the academic year for your program of study.
- NOTE: There are additional criteria that are specific to the two short-term loan programs as described below.
Application Procedure
Apply for a short-term loan voucher in person with Cynthia Gonzalez in the Augusta Webster, MD, Office of Medical Education, or the Chicago Financial Aid Office.
Another person cannot apply for/pick up a short-term loan on your behalf. Remember to bring your Northwestern University WildCARD when you apply! You will bring the voucher to Student Accounts, who will then process the loan for you. Emergency Loans
The emergency loan program is intended to assist you with an unexpected, short-term financial emergency. The emergency typically is not related to your financial aid award nor the direct costs associated with attending Northwestern University. Max Emergency Loan Amount:
You are entitled to one emergency loan per term with a maximum of $500, regardless of your account status with the University. You are eligible to receive a second emergency loan in an academic year (also with a $500 maximum) if all of the following four conditions are met: - Your first emergency loan has been fully repaid.
- Your tuition account has a zero balance.
- You are still enrolled in a degree-seeking or professional health certificate program.
- Your academic year consists of at least two terms.
Repayment
Emergency loans must be repaid within 60 days of receiving the funds or by the
end of the academic year, whichever is first. |
Cash Advances
Students who have submitted all required loan application documents for all loans they have accepted, and as a result of the accepted loans have an anticipated credit balance on their student account, may be eligible to receive a cash advance. Max Cash Advance Amount:
FSM students may receive up to $3,000 per month or the current anticipated credit on their account (whichever is less). - Only one cash advance is allowed every 30 days.
- Cash advances will be denied if you have not fulfilled all the requirements to apply for and receive your financial aid. For example, we will deny an advance if you have not submitted a loan application or any of your documents are incomplete.
Repayment
Cash advances, by definition, are repaid when the anticipated loan funds being advanced to you are credited to your student account. There are no finance charges or fees associated with a cash advance provided that the anticipated loan funds are received and credited to your student account. Should the anticipated loan not be received or credited, you will be required to repay the advanced funds from other sources, and you may be subject to a late payment fee. | 
