Northeastern to invest a record $450 million in financial aid in 2022-23

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Northeastern University will provide a record $450 million in financial aid to undergraduate and graduate students in 2022-23, a figure that exceeds previous totals set each academic year for the past twelve years.

The increase in financial aid funds – grants, not loans – means that tuition fees for most current students will remain stable. Approximately 65% ​​of Northeastern freshmen receive financial aid, including scholarships and grants.

Artwork by Zach Christensen

Undergraduate tuition for 2022-23 will be $59,100, which represents a 4.6% increase from the previous year. The overall cost of attendance – which includes tuition plus room and board – will increase by 4.1% from the 2021-22 academic year.

“Northeastern’s commitment to providing unparalleled experiential education continues to resonate with families around the world,” said Satyajit Dattagupta, head of enrollment at the university. “Our demand is the highest it has ever been, surpassing 91,000 last year. Meeting all demonstrated financial need is critical to attracting students from all backgrounds, resulting in a classroom where students bring diverse ideas and push the status quo.”

Dattagupta says the university is committed to meeting the full demonstrated financial need of every student attending Northeast, and has been doing so for every freshman and transfer student since 2015-16.

“Demonstrated financial need” represents the difference between the cost of attendance and the student’s expected family contribution, or ability to pay that cost. Demonstrated need is calculated based on a number of factors, including family income, once a student completes the Free Application for Federal Student Aid, or FAFSA, Dattagupta says.

Northeastern is increasing its investments in financial aid as the university experiences record demand. Some 91,086 students applied for the fall freshman class and 2,620 were enrolled. This marks another year in which requests have increased significantly, including during the COVID-19 pandemic.

Undergraduate students are also covered by the Northeast Promise, a pact that guarantees eight semesters of funding to students who receive financial aid based on the needs of the university. Under the Promise, need-based grant funds automatically increase at the same rate as tuition and are guaranteed not to decrease.

Artwork by Zach Christensen

Additionally, the average debt students carry after graduating from the Northeast has dropped 47% over the past decade. Today, among students who choose to take loans, the average debt is $16,000. About 50% of students in the Northeast graduate without any debt.

The Northeast’s new undergraduate class is talented and academically diverse. Although standardized test scores are not required for prospective students, the average two-part SAT score for the Class of 2026 is 1478 and the average high school GPA is 4.29. The new first year students come from 73 countries.

Northeast students participate in experiential learning programs in 148 countries on all seven continents. They hold co-op roles in multiple industries, ranging from small startups and NGOs to large multinational corporations, including some of the world’s most in-demand employers, such as Amazon, Netflix, and Google. Experiential learning opportunities around the world include educational experiences such as the Dialogue of Civilizations program.

Due to the breadth and depth of their experience, Northeast students have an advantage in the job market: 97 percent of graduates are employed or enrolled in higher education within nine months of graduation.

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