Request an Unsubsidized Loan

The Difference between Unsubsidized and Subsidized Loans

Repayment for both the Subsidized and/or Unsubsidized Student Loans does not begin until 6 months from the time you drop below 6 credits. The current interest rate for loans first disbursed on or after July 1, 2014 is 4.66%. The difference between these two loans is that Unsubsidized Loans accrue interest while you're in school and the Subsidized does not.

Unsubsidized Award Policy

Since the Unsubsidized Loan accrues interest from the time it is disbursed, this type of loan generates an added burden for our students in terms of repayment, and adds a higher risk of defaulted loans for NIC. For these reasons, as well as the rising amount of national student loan debt, NIC is implementing a new award policy for all Unsubsidized Loans. Beginning in the Fall of 2013, students will no longer be offered unsubsidized loans in their initial award packages. This does not mean you are ineligible for the Unsubsidized Loan, but it does mean you will need to follow some additional steps to receive this award. Please review the steps below to qualify for an Unsubsidized Loan for the school year you plan on attending.

Request for an Unsubsidized Loan for 2015 - 2016

1. Complete the Unsubsidized Loan Request Form

 We recommend you create a profile and complete the Money 101 Educational Planning Session through Salt

 We also recommend you complete the NIC Foundation Scholarship Application

Request for an Unsubsidized Loan for 2014 - 2015

 (Incomplete Packets will Not be Reviewed)

1. Complete the "Request for Additional Loans Form"

2. Create a profile and complete the Money 101 Student Loan Repayment Session through $alt

3.  Print proof of 100% completion of the session and your completion certificate.

 Step by step instructions for the $alt registration and session can be found here.


Additional loan requests will be processed within one week of submission.