When is Financial Aid disbursed?

All students can view their financial aid on their my.NWTC account once the offer notification has been emailed. Before that time, your my.NWTC account will say the offer is not available. Offers for the upcoming academic year are not sent until late spring.

You can accept/decline your offer by signing into your my.NWTC account:

1. Log in to the My.NWTC Student Portal using your NWTC ID number and password. You may need to use multi-factor authentication to verify your identify. (Watch our short student portal login and secure video).
2. Click on Financial Aid & Other Funding on the left side panel.
3. To accept/decline your offer, click on the Accept or Decline your Financial Aid Offer link. Please note: Loans do not appear as anticipated financial aid on your school account until you accept them.
4. To accept a lesser loan amount, check the accept box and enter the amount you wish to accept. Click on submit after making all changes.
5. A confirmation will appear that indicates your submission was successful.

More about loans

Please note:

Grants are automatically accepted for you. It is not necessary to accept scholarships, tribal funding, or outside agency funding.

You must be enrolled for at least 6 credits (half-time) for most types of financial aid. (If you are not registered for classes when offered financial aid, your offer will be calculated assuming full time enrollment. See Enrollment Changes for more information.)

Report all outside scholarships or other educational funding you are eligible to receive to the Financial Aid Office by e-mail at finaid@nwtc.edu.

Be sure to review all information related to financial aid eligibility and the Satisfactory Academic Progress policy.

What’s Next?

• Complete Loan Requirements. If you are a first time borrower, new to NWTC or it has been several years since you have borrowed, go to this link in order to complete the required steps.
• Enrollment Changes. Not sure whether or not you will be full-time, part-time or dropping credits? This link will provide you with some helpful information.
• Textbook Charge Program. If possible, you will want to purchase your books ahead of time so that you are ready to start the semester. Go here to find out how.
• NWTC BankMobile. Select your refund preference using BankMobile.

Disbursement

1. Log in to the My.NWTC Student Portal using your NWTC ID number and password.
2. Click on Financial Aid & Other Funding on the left side panel.
3. Click on the View Your Financial Aid Offer box and select a financial aid year.
4. Click on View Estimated Disbursement Dates for the appropriate term.
5. Review the scheduled disbursement dates. Note: Disbursement dates are estimates and will vary for each student.

It is your responsibility to have funds to cover your expenses until your financial aid is available during your enrollment period.

If you have been offered financial aid and have completed all the requirements to receive your funds, the Financial Aid Office will begin processing financial aid disbursements the day after Pell Recalculation Date (PRD)*. First-time Federal Direct Stafford Loan borrowers will have their loans released in two payments, the first payment being 30 days after the semester begins. Single semester loans will be released by the Department of Education in two payments.

Your financial aid funds will disburse based on the number of credits you are registered for at the time of disbursement. If you add/drop classes after your aid disburses, it could affect your eligibility for aid, or you may owe money back to the College. For example, if you make changes to your schedule that result in you having fewer credits than on the day your aid was disbursed, you may owe money back to the College.

All financial aid funds received will be applied to your student account to pay on tuition, fees, and books (if applicable). If you have remaining financial aid, a refund will be processed and delivered according to the refund preference that you have selected through BankMobile Disbursements. The Student Finance Office makes every effort to process refunds within 10 business days of the date the financial aid was posted to your student account.

*Pell Recalculation Date (PRD) is the date in which your Pell grant is “locked in” to the number of credits you are enrolled in, which is always two weeks after the semester begins. The PRD is a requirement of the Department of Education.

Reminders: 

• If you do not plan to attend a class, you must officially drop from that class as charges will be assessed to your account even if you do not attend. Dropping classes can result in a Financial Aid repayment, so please contact the Financial Aid Office before adjusting your schedule.
• Loan Requirements, Master Promissory Note and Loan Entrance Counseling must be completed in order for NWTC to receive your loan funds.
• Grades of NS (No Show), F, and W are not financial aid eligible.
• Outstanding To-Do Items will hold up your disbursement. Be sure you do not have any outstanding To-Do Items for the summer semester.
• You must be making Satisfactory Academic Progress for your aid to disburse.