Scholarships are for academic semesters, so they would not be for co-op’s. You don’t pay tuition while you are on co-op though - the general rule is to usually expect your pay to cover room/board while on co-op, more or less depending on your major. So for price calculation, consider it one full pay year and three years with 10k less.
So, that’s $60,000 + $50,000 * 3 = $210,000
I have heard of the delayed award only in the past two years - not sure why it’s there because NEU already has a really high retention rate (96%), so I doubt it would be for that.
As far as honors goes, here’s a good thread discussing it: http://talk.collegeconfidential.com/northeastern-university/1874188-northeastern-honors-program.html
In the end, the program has its perks (nice dorms your first two years, smaller class sizes here and there) but won’t make or break your time here by any stretch of the imagination. By the end of your second year, there barely is any difference between honors and everyone else.