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After we receive notification that your FAFSA has been completed, a confirmation letter will be mailed to you. You will then be notified through your NTC email account when your financial aid awards become available. You must then accept, edit, or decline your awards for them to be processed.

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.

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 studentloans.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 and a 30-Day Delay on First Disbursements for First-Time Borrowers

Federal regulations require that all Direct Loans (subsidized, unsubsidized and PLUS) must be disbursed in two disbursements based on your enrollment period. The first disbursement for first-time, first-year borrowers of subsidized and unsubsidized loans will be 30 days after the beginning of the first semester enrolled at least half-time. If you have a Federal student loan balance of $0 you are considered to be a first-time borrower.

*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..

STUDENTS ATTENDING FALL AND SPRING SEMESTERS

  • The enrollment period is the entire academic year (August to May).
  • One disbursement during the Fall Semester and one during the Spring Semester.
  • The first disbursement for first-time borrowers will be 30 days after the student’s earliest course start date if enrolled at least half-time.

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.
  • The first disbursement for first-time borrowers will be 30 days after the student’s earliest course start date if enrolled at least half-time.

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.
  • The first disbursement for first-time borrowers will be 30 days after the student’s earliest course start date if enrolled at least half-time.

View Disbursement Dates

Receiving Your Refund

Setting up your refund choice 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.

After you’ve been accepted into a financial-aid eligible program and have enrolled in classes you will receive a Refund Selection Kit with a Personal Code in the mail. You then have to complete the following easy steps:

  1. Visit www.RefundSelection.com
  2. Enter your unique Personal Code
  3. Select how you’d like to receive your money
  4. Complete your profile

You will be notified by email once your refund has been deposited to your BankMobile Vibe account. Account details can also be viewed by visiting www.bankmobilevibe.com.

Alternatively, you can generate your own personal code by visiting www.refundselection.com and entering a few key pieces of information to initiate the refund process.

Refund Processing Through BankMobile

View our institution's contract with BankMobile, a Division of Customer Bank

Who is BankMobile?

BankMobile 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.

How do I select a refund preference?

If you are a first-time student newly matriculated into a program, who has applied for financial aid and enrolled in classes, you will be mailed a green envelope from BankMobile containing an instructional insert on how to make your refund preference selection. You must have a U.S. address on file in order to receive the green envelope in the mail. Therefore, it is critical that you verify your mailing address as soon as possible.

To confirm the information on file with NTC, log into your myNTC account, click "Student Center," and review the Contact Information listed. If updates are needed, please contact NTC Student Services at 715.675.3331.

What if I didn't receive the BankMobile green envelope?

If you did not receive a BankMobile green envelope in the mail, follow these steps to make your refund selection:

  1. Log into my.ntc.edu
  2. Click "Student Center".
  3. Click "BankMobile Sign-On" in the left menu.
  4. Click on the "Make Your Initial Refund Selection" button.
  5. Then, select how you want your money delivered.

What are my refund options?

You have 2 options:

  1. Have your refunds sent via electronic deposit to your existing personal bank account (checking or savings). 
  2. If you don't have a bank account, set up a BankMobile Vibe Checking Account through BankMobile Disbursements.

The BankMobile Vibe Account is an account relationship between you and BankMobile, and NOT managed or operated by Northcentral Technical College. If you choose to open a BankMobile Vibe Checking Account, please read the Terms & Conditions and applicable Fee Schedule carefully.

PLEASE NOTE:  You do not need to open a BankMobile Vibe Checking Account to receive your refund BUT you do need to select a refund preference! Even if you are not currently expecting a refund from NTC, we may have a refund for you in the future. You only need to make your refund selection once for all refunds from NTC. Your refund preference is designed to provide you with increased choices and security when it comes to receiving your financial aid or school refunds.

What else should I know about the BankMobile Vibe Checking Account option?

The BankMobile Vibe Account is an FDIC insured checking account that offers the power to bank anywhere, anytime. You can use your BankMobile Vibe Debit MasterCard (not a credit card) to make purchases anywhere MasterCard is accepted. 

There is no monthly fee for students, but standard banking fees will be assessed as applicable.  Please review the BankMobile Fee Schedule for a complete list of all applicable banking fees.  Please note:  This is not a credit card. It is a debit card linked to your Vibe account.

There is not a BankMobile Vibe ATM located on campus but you can access cash off-campus without paying any fees at Allpoint ATM locations including:  Target, CVS Pharmacy, Walgreens, 7-Eleven, and more. For a complete list of BankMobile Vibe ATMs, visit the Allpoint network ATM locator at www.allpointnetwork.com/ .

If you select the BankMobile Vibe Account as your refund choice, you will receive a temporary virtual BankMobile debit card to use for phone or online purchases until your physical card arrives in the mail. Keep your card in a safe place as you would any debit card!

Who do I contact if I lose my card?  For your own security, as soon as you realize that you do not have physical control of your card, it is essential that you report the card lost. This may be done a couple of ways. You may go online to www.bankmobilevibe.com or call custome service at 1-877-327-9515 for assistance (Mon - Fri 8 a.m. to 11 p.m. ET). Your report allows BankMobile to cancel the card and prevent fraud, theft, and abuse of your account.

Contact Us

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

NTC’s Cashier Office
Phone: 715.675.3331, Ext. 1443
Email: cashiers@ntc.edu

BankMobile Student Help Desk
Phone: 1.877.327.9515