Financial Aid Programs and Disbursement:
Grants do not require repayment. They are awarded to undergraduate students (working on first degree) who demonstrate financial need. The grants listed here are coordinated and administered by the Office of Scholarships and Financial Aid.
Federal Pell Grants
Pell Grants provide a foundation of financial assistance to which other forms of aid may be added. Undergraduate students who establish eligibility for this program will receive a grant based on their estimated family contribution and the cost of attendance at NCTA.
Federal Supplemental Education Opportunity Grants (FSEOG)
FSEOG funds are awarded on a first-come basis to Pell eligible undergraduate students on the basis of financial need who have a completed financial aid file by April 1. These funds are awarded to students directly by NCTA and are limited to the funds allocated to NCTA by the U.S. Department of Education.
Nebraska Opportunity Grant (NOG)
NOG is awarded to undergraduate students who are Nebraska residents and demonstrate financial need as defined by state statutes. NOG is awarded on a first-come basis to qualified applicants who have a completed financial aid file.
The Federal Work-Study program (FWS) provides part-time jobs during the academic year for students who demonstrate exceptional financial need and who must earn a part of their educational expenses. Jobs will be on-campus. Part-time FWS students work 10-20 hours per week and will receive a paycheck every two weeks for the actual number of hours worked. Salary for FWS students will be no less than the current minimum wage and will also be associated with the type of work performed and skills required. The FWS award has a maximum earning limit that cannot be exceeded. FWS funds are awarded on a first-come, first-complete basis to qualified financial aid applicants.
The Business office helps students find FWS jobs.
Student loan programs offer long-term, low-interest educational loans which require repayment. Students should carefully consider the amount of debt they incur and recognize their future financial obligations. Like any other debt, a student loan is a serious financial obligation.
Federal Perkins Loans
The Federal Perkins Loan program gives priority to students with exceptional need. These funds are awarded on a first-come basis to qualified applicants who have a completed financial aid file. NCTA acts as the lender using funds provided by the federal government. Repayment is made to Campus Partners as the loan servicer for NCTA.
NCTA must ensure that students who have borrowed Federal Perkins Loans receive exit counseling before they leave school. Information about how to satisfy this requirement will be sent to the borrower at that time.
For specific information about the Perkins Loan Program including information on interest rate, repayment and cancellation please use this link: http://studentaid.ed.gov/types/loans/perkins
Federal Direct Stafford Loans
The Federal Direct Stafford Loan program enables students to borrow money directly from the federal government. The U.S. Department of Education is the lender and delivers the loan money to you through NCTA. Federal Direct Stafford Loans are made to students attending school at least half-time. Annual and aggregate loan limits vary depending on a student's grade level and dependency status.
There are two types of Federal Direct Stafford Loans - Subsidized and Unsubsidized. A student qualifies for a Federal Direct Subsidized Stafford Loan based on financial need, as determined under federal regulations. A student's need is not a factor in determining eligibility for a Federal Direct Unsubsidized Stafford Loan. It is possible for a student to have a Direct Subsidized and Direct Unsubsidized Stafford Loan for the same award year. A student can borrow a combination of loans based on the cost of education minus other financial aid up to maximum annual loan limits and/or cost of education. Important - Federal Direct Unsubsidized Stafford loans have many of the same terms and conditions as the Federal Direct Subsidized Stafford Loan (i.e., loan limits, origination/insurance fees, and deferments). However students are responsible for the interest during in-school, grace and deferment periods. Interest accruing during those periods may be paid or capitalized as agreed to by the borrower and the servicer.
For more information on Federal Direct Stafford Loan annual loan limits, aggregate loan limits, deferment, forbearance, interest rates, fees, repayment plans, cancellation and forgiveness go to:
NCTA must ensure that students who have borrowed Direct Loans receive exit counseling before they leave school. To satisfy this requirement, you should visit the NSLDS website and complete Exit Counseling. Students should complete exit counseling shortly before graduating or ceasing at least half-time enrollment.
Federal Direct PLUS Loans
The Federal Direct PLUS Loan Program assists eligible parents in meeting educational expenses. The Federal Direct PLUS Loan allows parents to borrow up to the cost of attendance minus other resources. The U.S. Department of Education is the lender and delivers the loan money to you through NCTA. Students must be attending school at least half-time to be eligible. PLEASE NOTE: Federal Direct PLUS Loan funds are applied ahead of all other financial aid funds your student may receive, regardless of when the PLUS Loan funds are applied.
For more information on Federal Direct PLUS Loan eligibility, interest rates, fees and repayment plans go to:
Disbursement of Funds
Prior to the disbursement of any funds by the OSFA, you must accept or decline your awards in MyRED. Financial aid is awarded based on expected full-time enrollment status. Disbursements may be delayed and/or reduced if your enrollment status is less than full-time. All funds are issued in two disbursements, once in the fall semester and once in the spring semester. Students attending only one semester will have that semester's award disbursed at the beginning of the semester. Financial aid is applied to tuition and fee charges first and then toward housing and other institutional charges. If the aid is greater than the charges owed, you will receive a refund from the Office of Student Accounts within ten business days from the date the disbursement is credited.
Grants and Scholarships
Grants and scholarships awarded or administered through NCTA are credited to your consolidated billing account each week beginning approximately one week before the first day of classes. Scholarships awarded through outside agencies will generally also be credited to your account once you have endorsed any checks received by the Office of Scholarships and Financial Aid. Outside scholarship awards are divided equally between fall and spring semesters unless we are instructed otherwise by the donor.
Federal Work-Study Program (FWSP)
Biweekly paychecks are based on the hours you work. Your paycheck will be directly deposited to the bank of your choice.
Federal Perkins Loan
Federal Perkins Loan funds are credited each semester to your consolidated billing account generally one week before the first day of classes, provided you have completed the online promissory note. Information about how to complete the promissory note will be emailed to you after you have accepted the Federal Perkins Loan award in MyRED.
Federal Stafford (including Federal Unsubsidized Stafford) Loan
Federal Stafford (including Federal Unsubsidized Stafford) Loan(s) funds will be disbursed directly to your consolidated billing account generally one week before the first day of classes, if you have completed a Master Promissory Note or if you already have a Master Promissory Note on file and your loan has been certified. If you have not previously received a Federal Direct Stafford, Federal Stafford or Federal SLS Loan while attending NCTA, you will be required to complete Entrance Loan Counseling before the first disbursement of your loan can be credited to your account. Undergraduate students who complete their degrees in less than a full academic year, e.g., graduate in December, will have their Federal Direct Stafford Loans prorated per federal regulations. Proration is based on one semester and the enrollment status for that semester.
Federal Direct PLUS Loan
Federal Direct PLUS Loan disbursements will be credited directly to your consolidated billing account after your eligibility has been certified and the parent borrower has completed a Federal Direct Parent Loan PLUS Application and Master Promissory Note. If a refund is due resulting from the PLUS Loan, information provided by the parent on the Release of Excess Funds form will determine if the refund will be distributed to the student or the parent. Please be advised that Federal Direct PLUS Loan funds are applied ahead of all other financial aid funds you may receive, regardless of when the PLUS Loan funds are applied.