Disbursement is the payment of your financial aid from the Department of Education to your student account.
How Enrollment Status Impacts Your Financial Aid
Most types of aid, including state grants and student loans, require at least half-time enrollment status.
Your enrollment status is determined by the number of eligible credits you are enrolled in. Below is a list of the different enrollment statuses. (The NWTC Financial Aid Office is required to evaluate your financial aid offer based on your enrollment status as of 11:59 p.m. on the Pell Recalculation Date.)
- Full Time = 12 or more credits
- Three Quarter Time = 9 to 11 credits
- Half Time = 6 to 8 credits
- Less Than Half Time = 1 to 5 credits
To review the classes you are registered in, view your class schedule on your my.NWTC account. Classes that are still in your shopping cart, that you have dropped, or that you are on a wait list for do not count toward your enrollment status.
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. 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.
Disbursements & Refunds
When Financial Aid Funds Are Disbursed
Your financial aid funding will begin disbursing after the Pell Recalculation Date if you have met all requirements. After the first disbursement, available funds are disbursed once a week. Students in unique situations may have later disbursement dates due to federal regulations.
Are you a first-time Federal Direct Stafford Loan borrower? If so, you will have your 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.
You can view your financial aid offer in your my.NWTC account once the financial aid offer notification has been emailed. Before that time your my.NWTC account will say the offer is not available.
Please note: It is your responsibility to have funds to cover your expenses until your financial aid is available.
Expecting a Refund
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, a technology solution, powered by BMTX, Inc.
- 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. Loan Requirements, Master Promissory Note and Loan Entrance Counseling, so please contact the NWTC Financial Aid Office before adjusting your schedule.
- Your Loan Requirements, Master Promissory Note and Loan Entrance Counseling must be completed 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 under your financial aid checklist in your student portal.
- You must be making Satisfactory Academic Progress for your aid to disburse.