Loans - The Basics

The North Idaho College Financial Aid Office is committed to assisting students in paying for their education while assuming as little debt as possible. Because students must repay loans, our office will determine a student's maximum eligibility for the loan that offers the best interest rate.  If students would like to be considered for an unsubsidized Loan after their initial award has been determined they can request additional funding on their Self-Service.  Please note: you have the right to reduce or cancel your loan.  To do so, please contact Cardinal Central by email at cardinalcentral@nic.edu.  

 

Maximum Subsidized Loan Amounts

Subsidized: Per federal regulations, the Financial Aid Office awards the maximum subsidized loan at the time of the initial award package.  However, if you have been awarded at a freshman level and during the academic year you progress to a sophomore status, you may be eligible to receive additional funds.  Please note: you have the right to reduce or cancel your loan.  To do so, please contact Cardinal Central by email at cardinalcentral@nic.edu.  

Freshman (25 or less completed credits): $3,500

Sophomore (26 or more completed credits): $4,500 

Maximum Unsubsidized Loan Amounts

Unsubsidized: The Financial Aid Office does not award the unsubsidized loan with the student’s initial award package.  If you would like to request an unsubsidized loan or an increase to your existing unsubsidized loan, please refer to the instructions on your original notification of award email.  Please note: you have the right to reduce or cancel your loan.  To do so, please contact Cardinal Central by email at cardinalcentral@nic.edu.  

Dependent: $2,000

Independent: $6,000

Direct Loan Interest Rates

Click the link for more information on student loan interest rates.

Parent PLUS Loan

For more information regarding PLUS Loans please click the following link.

Want more information regarding Loans? Visit StudentAid.gov