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