Late Disbursements

Generally, if funds are received after the end of the loan or Pell period, if a student has withdrawn after completing more than 60% of the academic year half, or if the student has graduated, the student may be eligible for a late disbursement. Student eligibility for a late disbursement is contingent on the following:

Stafford Loans and PLUS/Grad PLUS Loans:

• The loan must be originated on or before the end of the loan period or graduation date.
• The student must meet all other eligibility criteria (i.e., Satisfactory Academic Progress (SAP), started the loan period within 30 days, completed prior academic year, met admission criteria, and so on).
• The disbursement must be made within 180 days after the date the student becomes ineligible.
• In the case of a late disbursement, if there is a withdrawal date in the academic year (AY), and the student has completed more than 60% of the AY half, the student may be eligible for a late disbursement.
• In the case of a late 2nd disbursement, if there is a withdrawal date in the AY, the student may be eligible for a late disbursement if he or she has successfully completed the period for which the loan was intended.

Grants:

• A valid ISIR for the award year has been received prior to the student’s withdrawal date, or the Department of Education’s ISIR deadline dates, whichever is earlier.
• The student has met all other eligibility criteria (i.e. SAP, completed prior academic year credits, met admission criteria, and so on).
• The disbursement must be made by the Department of Education’s payment deadlines for the given award year or within 180 days after the date Northcentral University determined that the student withdrew, whichever is earlier.
• If there is a withdrawal date in the AY and the student has completed more than 60% of the academic year half, the student may be eligible for a late disbursement.
• If there is no withdrawal date in the academic year or the student has graduated, the student may be paid retroactively for any completed payment periods subject to the above stated deadlines.