Yes. Please stop by the Welcome Center, email financial_aid@nicoletcollege.edu, or call 715-365-4423. to get started and/or to schedule an appointment.

The One Big Beautiful Bill Act (H.R.1) was signed into law by President Trump on July 4, 2025. For students, families, and institutions like Nicolet College, this bill is significant because it changes some rules related to the federal aid (Title IV) programs. For example, the bill:

• Changes some rules for determining Pell Grant eligibility
• Modifies the Federal Direct Parent PLUS Loan program
• Eliminates the Federal Direct Grad PLUS Loan program for new borrowers
• Introduces new eligibility criteria and reporting requirements that could affect how aid is awarded and maintained

FAFSA Changes Effective July 1st, 2026

• Family farms and family-owned small businesses will no longer be counted as assets (reverting to rules before FAFSA Simplification)
  • Family Farm – Farms on which the family resides
  • Small Business – 100 or fewer full-time (or full-time equivalent) employees
• Family-owned commercial fisheries are now also exempt from asset reporting

Foreign Income Reporting

• Foreign income must now be included in the Adjusted Gross Income (AGI) for Pell Grant eligibility

Removes the need for financial aid staff to decide whether foreign income affects Pell Grant eligibility.

Pell Grant Updates

Pell Grants & Full Scholarships

• Students whose Cost of Attendance (COA) is fully covered by non-federal aid will no longer be eligible for a Federal Pell Grant.

Ends the previous allowance for Pell Grants to exceed COA when combined with other aid

• Example: A Pell-eligible student with a scholarship covering the full Cost of Attendance will no longer receive both the scholarship and the Pell Grant

Pell Grants & High Student Aid Index (SAI)

• Students with an SAI greater than twice the maximum Pell Grant amount will be ineligible for any Pell Grant
• Example: If the max Pell Grant is $7,395, students with an SAI over $14,790 will not qualify

Undergraduate Direct Student Loan Updates

• Loans must be reduced when students are not enrolled full-time. The reduction is based on their enrollment status.
• Undergraduate Annual Limits: Unchanged
• Undergraduate Aggregate Limit: Unchanged
• Total Aggregate Limit: $257,500 across all federal loan programs (undergraduate and graduate)

Parent PLUS Direct Loans

• Annual Limit: $20,000 per student (combined from all parents)
• Aggregate Limit: $65,000 per student
• Legacy Provision: Students with any existing Direct Loan may continue borrowing for up to 3 years or for the remainder of their expected time to complete the program, within the published length of time to do so, whichever is less.
• New Borrowers: Must seek alternative funding if limits are exceeded

Direct Loan Repayment Changes

First Loan Borrowed on or after July 1st, 2026

New Standard Repayment Plan:

• Four Fixed-Terms:
  • 10 years: balances <$25,000
  • 15 years: balances between $25,000–$49,999
  • 20 years: balances between $50,000–$99,999
  • 25 years: balances $100,000+
• Only 10-year plans qualify for Public Service Loan Forgiveness (PSLF). Note: PSLF requires at least 10 years of repayment.

These changes are scheduled to go into effect July 1, 2026, and/or with the 2026-27 Free Application for Federal Student.

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 circumstances, Nicolet College Financial Aid may also select you for verification. If selected you will receive a Missing Information Letter via email requesting additional forms and/or documentation. Financial aid processing can only continue once you have completed and submitted all the required documentation. To minimize the amount of documentation needed for verification, use the IRS Data Retrieval Tool (DRT) when originally filing your FAFSA. 

If you qualify for financial aid, a financial aid offer will be placed in your student account after registering for classes, and a notification will be sent to your Nicolet College email. You will also be able to view your offers by accessing your student self-service portal.

If you are accepting a direct loan for the first time, you must visit studentaid.gov to complete both entrance counseling and a master promissory note before the loan can be processed.

Grants and scholarships are automatically accepted for you, but you must accept any Federal student loans by accessing your student self-service portal.

Disbursement is the process of having financial aid (grants, scholarships, loans, and other outside sources) applied to your student account. Financial aid is calculated based on the number of credits you are registered for and participating in at the Census Date. All instructors report student participation on the 10th day of the student’s term, and your financial aid is based solely on the classes you are participating in.

Student loans are disbursed in two increments with the first half 30 days after the start of the term and the second half at the mid-point of the term. 

If you are a student in a competency-based program, funds are disbursed like what is mentioned above, but dates will be based on your enrollment period. Your specific disbursement dates will be available when you sign into your MyNicolet account and into the financial aid NetPartner. If you have any questions, please contact the Financial Aid Office for assistance. 

If students have not submitted all paperwork requested (i.e. verification forms) by these dates, their funds will be disbursed into their Nicolet College account after they are eligible for funding and refunds mailed within 14 days. All documents must be received and approved by the Nicolet College Financial Aid Office by the last day of the term.  

You can now set up direct deposit for refunds via 'Make a payment'  in Student Finance and selecting 'eRefunds'. Contact the Business Office with any questions regarding direct deposit at 715.365.4458 or email studentfinance@nicoletcollege.edu.

Yes, you may purchase your books at the Nicolet College Bookstore and charge the purchase to your student account if you have excess funds after your tuition has been paid and your financial aid refund check has not been processed. If you have already received your refund check, you will need to use those funds to purchase books. You do not need to wait until your financial aid is processed to purchase your books but be aware that you will be responsible for paying for them out of pocket if your aid is not processed for any reason.

If your financial aid covers all of your tuition and any book charges, the process for paying off your student account balance is automatic. 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. 

Sometimes we will correct information reported on your FAFSA such as your year in school or the type of degree you are pursuing. We will also submit updates once we have completed your verification or resolved any conflicting information.

• Actual offers  are based on your term enrollment. 

• State and federal funds are tentative at the time of offer. 

• Financial aid offers will be amended if your eligibility is based on incorrect information on the FAFSA. 

• Financial aid offers are amended if late start classes are dropped prior to their start and regardless of whether financial aid has been disbursed. 

• Financial aid will be amended if you receive scholarships or any other type of educational assistance that 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. 

Federal financial aid is based on the information you provide on the FAFSA. But we understand that life doesn’t always fit into a form. If your current situation isn't accurately reflected on your FAFSA, you may qualify for a review based on special or unusual circumstances.

Special Circumstances

These involve changes to your or your family's financial situation, such as:

• Loss of income or employment
• Divorce or separation
• Unusually high medical expenses
• Death of a parent or spouse

Common documentation may include:

• A written explanation of your situation
• Recent tax documents (e.g., 1040s, W-2s)
• Proof of income loss (termination letter, unemployment benefits)
• Medical bills or related documentation

Unusual Circumstances

These refer to situations that affect your dependency status, such as:

• Parental abandonment or estrangement
• Abuse, neglect, or unsafe living environment

Common documentation may include:

• A personal statement describing your situation
• Court documents or legal records
• Letters from a social worker, counselor, teacher, or clergy
• Other third-party supporting statements

Next Steps:
If you think you may qualify under one of these categories, please contact our Financial Aid Office by completing one of the forms below. We’re here to help you through the process and ensure your aid eligibility is evaluated fairly.

Complete the Special Circumstance Form

Complete the Unusual Circumstance Form

2025-2026 Disbursement Schedule 

2026-2027 Disbursement Schedule

FA = Date the Financial Aid Office will process aid to the Business Office 

BO = Deadline for the Business Office to have refund checks in the mail 

We are required to disburse loans in two separate disbursements – the first half is 30 days into the term, and the second half gets disbursed at the midpoint of the term.