Online entrance counseling session
Federal Direct Loan online entrance counseling session requirement:
Please refer to the Financial Aid Handbook for instructions for completing the Online Entrance Counseling Session.
Additional online entrance counseling session information for Kellogg Full-Time 1Y MBA students, 2Y MBA students and 2Y MMM students
In addition to the information provided to students during the online entrance counseling session, we are providing the following information in order to help you understand all the terms and conditions of your loan as well as provide you with the necessary resources when questions arise regarding your federal student loans.
The debt of students who borrow through the Federal Stafford Loan and/or Federal Grad PLUS Loan programs vary by program of study and the amount of loan funding accepted by the student. Below you will find information regarding the repayment amounts for several debt levels, ranging from $25,000 to $200,000.
Using the debt figures in the chart below as an example, we have calculated what an average monthly payment would be using sample interest rates of 6% and 7%. The figures are based on a standard repayment term of 10 years for each loan option and do not include interest that would have accrued on any portion of the debt coming from the Unsubsidized Stafford Loan and/or the Grad PLUS Loan.
| Interest rate at 6% | |||
|---|---|---|---|
| Loan Amount | Monthly Loan Amount | Total Interest Paid | Total Loan Repayment |
| $25,000 | $278 | $8,306 | $33,306 |
| $50,000 | $555 | $16,612 | $66,612 |
| $75,000 | $833 | $24,919 | $99,919 |
| $100,000 | $1,110 | $33,224 | $133,224 |
| $125,000 | $1,388 | $41,532 | $166,531 |
| $150,000 | $1,665 | $49,837 | $199,837 |
| $175,000 | $1,943 | $58,143 | $233,143 |
| $200,000 | $2,220 | $66,649 | $266,449 |
| Interest rate at 7% | |||
|---|---|---|---|
| Loan Amount | Monthly Loan Payment | Total Interest Paid | Total Loan Repayment |
| $25,000 | $290 | $9,833 | $34,833 |
| $50,000 | $581 | $19,665 | $69,665 |
| $75,000 | $871 | $29,498 | $104,498 |
| $100,000 | $1,161 | $39,330 | $139,330 |
| $125,000 | $1,451 | $49,163 | $174,163 |
| $150,000 | $1,742 | $58,995 | $208,995 |
| $175,000 | $2,032 | $68,828 | $243,828 |
| $200,000 | $2,322 | $78,660 | $278,660 |
Important information
f you have any questions regarding borrower’s rights and responsibilities and loan terms and conditions, please feel free to contact our office (847.491.3308).
We strongly encourage students to read the student loan section of The Guide to Federal Student Aid located here. The guide, published by the U.S. Department of Education, provides a wealth of information, including loan repayment schedule and terms, federal loan program deferment, forbearance and cancellation provisions.
Enrollment classifications
For loan deferment and enrollment verification purposes, student status is defined as follows during regular terms and summer school:
- Full-time: enrolled in at least three units per quarter or the equivalent.
- Half-time: enrolled in at least 1.5 but fewer than three units per quarter or the equivalent..
- Evening & Weekend: enrolled in fewer than two units per quarter or the equivalent (also referred to as less than half-time).
Withdrawal information
Students who need to withdraw from Kellogg must immediately submit a withdrawal request via BidReg. The leave of absence/or term withdrawal request e-form is located in BidReg under “My Academics” > “Leave of Absence/Withdrawal”. Once submitted, the withdrawal request will be routed to the appropriate Kellogg offices. If you have any questions about the BidReg withdrawal request process, please contact the Kellogg Registrar at Kellogg-registrar@northwestern.edu.
If you reside in Engelhart Hall, please notify NU Housing at housing@northwestern.edu that you are withdrawing from the University.