Sam_Lee
November 16, 2011, 11:56pm
2
<p>[Financial</a> Aid FAQs: McCormick Office of Career Development: McCormick School of Engineering, Northwestern University](<a href=“Getting Started | For Students | Engineering Career Development | Northwestern Engineering ”>Getting Started | For Students | Engineering Career Development | Northwestern Engineering )</p>
<p>[Eligibility</a> Questions: Undergraduate Financial Aid - Northwestern University](<a href=“http://ug-finaid.northwestern.edu/tools/prospective/eligibility_FAQ.html#Eligibility-09]Eligibility ”>http://ug-finaid.northwestern.edu/tools/prospective/eligibility_FAQ.html#Eligibility-09 )</p>
<p>
A co-op student’s financial aid package is developed in much the same way as it would be for a student remaining on campus. Need is determined by subtracting the family’s expected contribution from the total cost of attendance. Need is met through scholarship, grant, loan and student employment. (See Components of an Aid Package for more information on how an aid package is developed.)</p>
<p>The difference occurs when the co-op experience takes place during the academic year and financial aid is adjusted for the quarter(s) of enrollment reflecting a tuition charge. Even though the student is officially enrolled with zero units while on co-op, there are no tuition charges; therefore, financial aid for that quarter is cancelled and all loan funds returned to the lender.</p>
<p>Students participating in the co-op program are also expected to contribute a portion of their co-op earnings towards their educational expenses. The normal summer savings expectation is waived and replaced by a portion of the co-op expectation.</p>
<p>The co-op earnings expectation is determined annually by subtracting prior co-op participants’ average living expenses for two quarters from their average earnings. The average co-op earnings is $3,600.
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<p>It looks like if the CO-OP is local, she would have the option to keep living on campus. I am not sure what would happen to her dorm space when the CO-OP is out of town.</p>