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How your Financial Aid is Determined & Disbursed

Am I Eligible for Financial Aid?

To receive federal or state financial aid, you generally need to:

  • Show financial need (for most programs)
  • Be a U.S. citizen or eligible noncitizen
  • Have a valid Social Security number
  • Be enrolled or accepted in an eligible degree or diploma program
  • Take at least half-time classes to qualify for federal student loans
  • Maintain Satisfactory Academic Progress
  • Not be in default on a federal student loan or owe money on a federal grant
  • Have a high school diploma, GED/HSED, or meet ability-to-benefit requirements for certain career pathway programs (ask us for details)

How We Calculate Your Aid

Your financial aid is based on this formula:

Cost of Attendance (COA) – Student Aid Index (SAI) = Financial Need
Cost of Attendance (COA) – Student Aid Index (SAI) = Financial Need
  • COA: Your estimated budget for tuition, fees, books, housing, and personal expenses.
  • SAI: What the Department of Education says your family can reasonably contribute.
  • Financial Need: Determines what types of aid you qualify for. Some aid requires financial need; others do not.

Types of Aid

We award aid in this order:

  1. Gift Aid – Scholarships & Grants (money you don’t pay back)
  2. Self-Help Aid – Work-Study & Student Loans

You’ll see your aid offer in your TrojanHome Portal, where you can accept or decline awards. If you accept loans, you’ll need to complete Entrance Counseling and a Master Promissory Note.

    Important Deadlines

    • Aid is locked in after the 5th day of classes for fall and spring, and after the 3rd day for summer.
    • Changes to your schedule after these dates won’t change your aid.

    Why Your Aid Might Change

    Your aid could be adjusted if:

    • Federal or state funding changes
    • You receive outside scholarships or other funding
    • Your enrollment level changes
    • You repeat a course more than once after passing
    • You don’t attend your classes
    • Your family or financial situation changes

    Getting Your Money

    Once your aid is finalized and loan requirements are complete:

    • Funds are applied to your account first
    • Refund checks are usually available two weeks after classes start, then every week for aid applied thereafter. Students will receive an email notification when their financial aid refund check is available to pick up at the NIACC Business Office with a photo ID.
    • Federal loans are always split into two disbursements
    • First-time loan borrowers must wait 30 days before funds are released