First Time Loan Borrowers

30 Day Delay

Students are who are first time borrowers will have loan funds applied to their account 30 days into their first semester. 


  • Jerry is an incoming freshman and was awarded a $3,500 subsidized student loan for the school year.

  • He will have $1,750 available for the fall semester. 

  • Because NIC disburses student loans twice of the course of the semester, Jerry will have two separate dates where $875 will be applied to his account.

*It is important to note that the Department of Education applies a 1.05% processing fee to each application of a student loan. This means, of the $875, Jerry will have access to $866 for each disbursement.*

  • Because Jerry is a first time borrower, Jerry will not have $866 applied to his account until 30 days into the semester.

  • However, Jerry will have access to the full $1,750 for tuition and fee payment

  • As long as Jerry's total award exceeds tuition & fees, he also has access to the full $1,750 for bookstore charges.

  • The second disbursement will be applied after mid-term grades have been posted.

  • For specific dates on when your loan funds will be applied to your account please view the Financial Aid Office Calendar