Early FAFSA filers will receive an email from the Financial Aid Office acknowledging the receipt of your financial aid application (FAFSA). You will then be notified through your NTC email account when your financial aid offer becomes available. You must then accept, edit, or decline the financial aid offered to you.
Disbursement
During the 3rd full week of the semester, your financial aid will begin to disburse to your Workday account to pay your tuition, fees and NTC Campus Store charges (if applicable). It is important to remember that student loan funds are split into two equal disbursements each semester. The first financial aid disbursement occurs during the 3rd full week of the semester with the second disbursement occurring at the midpoint of the semester. Please refer to the “Important Announcements & Resources” website for specific disbursement and approximate refund dates.
Late Start Students
If the start date for all of your classes is after the beginning of the term, the initial financial aid disbursement will occur no later than 14 days after the first day of class for which a student has demonstrated attendance.
Refunds
When your payments or financial aid awards exceed your charges—NTC issues you a refund. By default, a paper check will be sent to the home address on file (see Update Your Contact Information for instructions on updating your address).
However, you can also set up direct deposit so that student account refunds are directly deposited into your chosen checking or savings account. The fastest and most secure way to receive a refund is a direct deposit.
Workday refers to the direct deposit option as a Payment Election.
The instructions below will assist you with the Payment Election process:
- Sign into Workday
- Type "Payment Elections" into the search bar and select the report.
- Select Add
- Enter banking detail under Account Information
A refund check will be mailed to you if you do not complete the Payment Elections step in Workday.
The Student Finance Office processes refunds Thursday mornings. Students who have completed their Payment Election and provided banking information for direct deposit should expect refunds to appear in their bank accounts within up to 4 business days. Students who have not finalized their Payment Election will receive a physical check sent via USPS to the address listed in their Workday account under the “Contact” section.
To check the status of your refund, please contact the Student Finance Office by e-mail at studentfinance@ntc.edu or by calling 715.803.1443.
Special Note Regarding Student Loan Disbursement Requirements
If you accept a Federal Student Loan offer, you are required to complete:
- Loan Entrance Counseling - Loan Entrance Counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You’ll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default. When you're finished, a record of your completion will be sent to the schools you selected, and you can then receive your loan money. Keep in mind that you cannot save and leave an incomplete session; you must complete entrance counseling in one sitting.
More Information - A Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).
Complete Your MPN
Have Questions?
If you have question about your refund, please contact our Student Finance staff at studentfinance@ntc.edu or 715.803.1443, and we will be happy to assist you.