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Frequently Asked Questions

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


 


Can I receive help with my FAFSA?

Yes. Please stop by or contact the Financial Aid Office to set up a time that you would like a Financial Aid staff member to help with your FAFSA.

What should I have ready when filling out my FAFSA?

When filing your FAFSA for 2018-2019 have the following available:

- 2016 student federal tax return and W-2s

- Documentation of student child support received/paid, unemployment, or other forms of income

- Documentation of student balances for cash, checking, savings, and investment accounts as of the date of filing the FAFSA

- SSN/DOB of student

- Student FSA ID (if already established)

 

**Students under age 24 who are determined to be dependent by FAFSA requirements must also provide the same information for their parents

            **Students who are married must include the same information for their spouse

 

If you are filing the FAFSA for 2017-2018 (used for fall 2017 and spring and summer 2018 terms), you will use the federal tax return, W-2s and income from 2015.

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 will receive a letter from Nicolet College requesting additional financial documentation. Financial aid processing can only continue once you have completed and submitted all the required documentation. To avoid long delays, please respond by the requested date on your Missing Information Letter.

To minimize the amount of documentation needed for verification, use the IRS Data Retrieval Tool (DRT) when originally filing your FAFSA.  Due to technical issues, the DRT is only available for filing the 2018-2019 FAFSA.

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 and Nicolet College email. Please keep your address current on file with the Financial Aid Office. 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, a master promissory note and additional loan counseling (called Financial Awareness Counseling) for the federal direct loans. If you are accepting a direct loan for the first time, you must visit studentloans.gov (link: https://studentloans.gov/myDirectLoan/index.action) to complete both entrance counseling and a master promissory note before the loan can be processed. Students who have received any federal student loans in the past, are taking out new loans, and whose social security number (SSN) ends in an even number, will be required to complete the additional loan counseling titled "Financial Awareness Counseling" (FAC).  If either of these steps is not completed, the loan(s) will be rescinded. You can also apply for federal work study opportunities through your financial aid office.

When will I receive my financial aid refund check?

Disbursement is the process of having financial aid (federal grants, state grants, and student loans) applied to your Nicolet College account. A financial aid refund check is the difference between a student’s grants, loans and scholarships minus any tuition, books, or other charges on the student’s account. The financial aid grant refund checks for standard term programs will be mailed each semester on Fridays beginning the third week of classes. Student loans will be disbursed in two increments.
First-time borrower:
 - First disbursement will occur after the 30th day of the term and refund checks mailed the Friday after.
 - Second disbursement will begin after the mid-point of the term with checks mailed on Fridays.
Returning borrower:
 - First disbursement will occur during the third week of classes and refund checks mailed the Friday after.
 - Second disbursement will begin after the mid-point of the term with checks mailed on Fridays.

If you are a student in a flexible Nicolet My Way Program, funds will be disbursed similar to 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 portal.  If you have any questions, please contact the Financial Aid Office for assistance.

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.  Book charges can be made up to your last disbursement date of the term.

What about my tuition bill?

The FAFSA must be completed annually and all paperwork submitted at least 30 days prior to your term start to guarantee that your financial aid will be processed by the tuition due date. 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, online, or arrange for a payment plan.  Please contact the Financial Aid Office regarding summer term financial aid.

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.

Are there any other information I should know about financial aid?

- Actual awards will be based on your term enrollment.

- 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 FAFSA.

- Financial aid awards will be 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 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.

What is the new loan counseling about?

Additional Loan Counseling (titled Financial Awareness Counseling)

Nicolet College was 1 of 51 institutions in the United States selected by the Department of Education (DOE) to participate in an experimental program for additional loan counseling.  If you have received any federal student loans in the past, are taking out new loans, and your social security number (SSN) ends in an even number (0,2,4,6,8), you will be part of the "Treatment Group" and will be required to complete the additional loan counseling titled "Financial Awareness Counseling" (FAC).  If your SSN ends in an odd number (1,3,5,7,9), you will be part of the "Control Group" and are not required to complete the FAC but may do so for your own personal value.  A link to the FAC follows: https://studentloans.gov/myDirectLoan/financialAwarenessCounseling.action?execution=e1s1.                  Regardless of the group you are placed into, information regarding your student aid and academic data will be reported to the DOE. Students in the "Treatment Group" must complete the FAC prior to any direct student loans being available to apply towards your tuition, bookstore purchases and being disbursed.  

What is Act 284?

You will annually be receiving an email to your Nicolet student email account in regards to the 2015 Wisconsin Act 284. This will provide information on your past financial aid received only at Nicolet College.  All loans will be broken down to provide total debt accrued, interest rates, standard repayment terms, estimated monthly payments, total projected interest to be paid over term of the loan, total projected principal and interest over the term of the loan, etc.  Projected Cost of Attendance budgets for the current year and cumulative federal, state and institutional aid along with scholarships will also be provided. More information can be found at the following link: https://docs.legis.wisconsin.gov/2015/related/acts/284. 

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