Additional Disbursement Information

Loan Disbursement Notification

Students and parents (if applicable) are notified of the amount of Title IV loan funds they can expect to receive. The notification outlines the type of loan (such as Subsidized or Unsubsidized), the disbursement date, and the amount. Students and parents are notified in writing of the date and the amount of the disbursement no earlier than 30 days before or no later than 7 days after crediting the student’s account. The notice explains the borrower’s right to cancel all or a portion of the disbursement and the procedures for doing so.

Student/Parent Authorizations

NCU uses federal student aid funds to cover current year outstanding charges for tuition and fees. NCU obtains authorization from a student (or parent borrower) to carry out the following activities:

• Use federal Title IV aid funds to pay for allowable educationally related charges other than tuition and fees (if applicable).
• Apply federal Title IV aid funds to minor prior-year charges that total no more than $200.

The authorization from a student allows NCU to carry out the activities for which authorization is provided for the entire period that the student is enrolled at the University. The student may cancel or modify the authorization at any time.

Credit Balances

The University disburses funds within 14 days after the Federal Student Aid (FSA) credit balance occurs.