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

Disbursement means the Financial Aid Office has applied funds from your financial aid award (such as grants and student loans) to any tuition, fees, or book charges owed on your student customer account. If there is any money left over once your disbursement pays your tuition, fees, and/or book voucher, you will receive the remainder of that money in the form of a refund.

If you haven’t made your refund preference selection, login at MyNTC to get started.

Student Loans

Before borrowing any federal student loans all students are required to complete entrance counseling and master promissory note (loan agreement). This can be done online at studentaid.gov . Students must enroll in at least six credit hours each semester, meet Standards of Satisfactory Academic Progress, and not have a previously defaulted loan(s).

Two loan disbursements are required for all federal direct loans.

Federal regulations require that all Direct Loans (subsidized, unsubsidized and PLUS) must be disbursed in two disbursements based on your enrollment period.

Note: Students must maintain all eligibility requirements at the time of disbursement to receive FSA funding. It is the student’s responsibility to review all financial aid policies and the Financial Aid Guide.

IMPORTANT CHANGE to the disbursement of all Federal Direct Student Loans: All student loans will be split between two equal disbursements each semester.

This applies to single-semester loans (summer only, fall only, and spring only) as well as loans that are automatically split between fall/spring. The first disbursement can be made according to the disbursement schedule while the second disbursement will be made at the midpoint of the semester. Some students may not receive a refund after the first disbursement if all charges have not been paid, whereas other students may receive a partial refund followed by another refund later in the semester. Please keep this in mind when budgeting. If for some unexpected reason a student drops below half-time enrollment (fewer than 6 enrolled credits) at the time that the second disbursement would occur, the second half of any student loans will be canceled.

Students Attending Fall and Spring Semesters

  • The enrollment period is the entire academic year (August to May).
  • Two disbursement during the Fall Semester and two during the Spring Semester.

Students Attending Only Fall or Only Spring Semester

  • The enrollment period is the single semester (August to December or January to May).
  • The first disbursement will be at the beginning of the semester.
  • The second disbursement will be at the midpoint of the semester.

All Students Attending Summer Semester

  • Because Summer is considered a stand-alone semester, the enrollment period is May to August.
  • All loans must be in two disbursements.
  • The first disbursement will be at the beginning of the semester.
  • The second disbursement will be at the midpoint of the semester.

View Disbursement Dates

Receiving Your Refund

Selecting your refund preference is an important step to take, because even if you don’t qualify for a refund this semester, you may in the future. Please ensure that you keep your mailing address current within myNTC.

If you haven’t made your refund preference selection,
login at my.ntc.edu to get started!

  1. Sign into my.ntc.edu
  2. Select “Billing & Financial Aid”
  3. Select “BankMobile Disbursements” in the left menu.
  4. Select “Make Your Initial Refund Selection”
  5. Then, select how you want your money delivered.

Refund Processing Through BankMobile Disbursements

View our third-party servicer contract for refund management.

What is BankMobile Disbursements?

BankMobile Disbursements, a technology solution powered by BMTX, Inc., is the Northcentral Technical College refund management provider that gives students the capability to select a refund preference in order to receive financial aid refunds.

BankMobile Disbursements Refund Information

Contact Us

For more information on disbursements and refunds, please contact either NTC or BMTX, Inc.

NTC’s Student Finance
Phone: 715.803.1443
Email: studentfinance@ntc.edu

To contact the BMTX Team
Phone: 877.327.9515
Hours of Operation: 8am-11pm ET, 7 days a week