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Frequently Asked Questions

Click the headings below for answers to common questions about financial aid.


 


What happens if I am selected for verification?

Verification is the process used to check the accuracy of the information submitted by students on their FAFSA. The federal processor randomly selects student applications for verification. Under certain circumstance Nicolet may also select you for verification. You’ll receive a letter from Nicolet requesting additional financial documentation. Financial aid processing can only continue once you have completed all paperwork and submitted all the required documentation. To avoid long delays, please respond by the requested date.

A dependent or independent student verification worksheet must be filled out for all students selected for verification. To avoid having to get an IRS transcript, use the IRS data retrieval tool when you originally file your FAFSA or at a later processing date.

What happens once I qualify for aid?

If you qualify for financial aid, then a financial aid award will be offered. When the award is made available, a notification will be sent to your home address. Please keep your address and e-mail current with Nicolet. The notification contains instructions on how to access your MyNicolet portal; how to view, accept, reduce or decline the financial aid awards, and how to complete entrance counseling and a master promissory note for the federal direct loans. If you are accepting a direct loan for the first time, you must visit studentloans.gov to complete both entrance counseling and a master promissory note before the loan can be processed. If not completed by the required date, the loan(s) will be rescinded. You can also apply for college work-study opportunities.

When will I receive my financial aid refund check?

Disbursement is the process of having financial aid (federal grants, state grants, and student loans pay for Nicolet College charges. The financial aid grant refund checks will be mailed each semester on Fridays beginning the third week of classes. A financial aid refund check is the difference between a student’s grants and loans minus any tuition, books, or other charges on the student’s account. Student loans will be disbursed in two increments.

First-time borrower:
 - First disbursement will be 30 days after classes start
 - Second disbursement will be mid-point of the semester

Returning borrower:
 - First disbursement will happen during the third week of classes
 - Second disbursement will happen during the mid-point of the semester

Will financial aid pay for my books?

Yes, however you are not able to charge tuition or books until financial aid has been awarded and accepted. You may charge your books at the Nicolet Bookstore against your remaining financial aid award after tuition and other fees have been deducted until the specified deadline date.

What about my tuition bill?

The FAFSA must be completed annually prior to July 1 for the Fall semester and December 1 for the Spring semester to guarantee that your financial aid will be processed by the tuition due date. Please contact the Financial Aid Office regarding Summer Semester financial aid. If you filed your FAFSA after these dates, we cannot guarantee that your award will be processed in time and you may be required to pay your tuition bill at the Nicolet College Business Office, on-line, or arrange for a payment plan.

If your financial aid does not cover the cost of your tuition, you must pay the balance on your account by the tuition due date. Payment plans can be arranged through your MyNicolet account. Contact the Nicolet College Business Office at 715-365-4458 with any questions.

A few additional points about financial aid:

- State and federal funds are tentative at the time the awards are made.

- Financial aid awards will be amended if your eligibility is based on incorrect information on the financial aid form.

- Financial aid awards will be amended if late start classes are dropped prior to their start and after financial aid has been disbursed.

- Financial aid will be amended if you receive scholarships or any other type of educational assistance which results in an over-award.

- You may not receive financial aid funds from more than one school at a time.

- Contact the Financial Aid Office if attending another college and need a consortium agreement.

- Contact the Financial Aid Office before withdrawing from a course.