Second Disbursement

Second Disbursement Details:

 

Student loans are issued twice of the course of each semester at NIC. Please review the example below to understand how the funds are applied to your account.  

Example:

 

  • Jerry 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.*

  • The second $866 will be applied to Jerry's account and a disbursement would be issued if all tuition and fees and/or bookstore charges are paid in full.

  • The second disbursement will be applied after mid-term grades have been posted. Students must be actively participating in 6 credits to receive the second disbursement.