Loan Disbursing
The loan disbursing department can be reached at (954) 262-5200.
This department is responsible for verifying student's eligibility
for a student loan and then issuing refunds from excess financial aid
funds in the student account.
Loan Verification Regulations
Before crediting a student's account, government regulations require
that NSU verify that the student has enrolled for a required minimum
number of credit hours, is making satisfactory progress in their academic
program, has completed loan entrance interviews, and other requirements.
Loan Disbursements
Loans are disbursed as credits on student accounts. If loans are received
from lenders electronically (EFT), the amounts are credited directly
on the student account. If loan proceeds are received from lenders as
traditional paper checks, the checks must be mailed to students for
their endorsement and return to NSU. After the endorsed check is returned,
it will be credited to the student account.
The Borrowing Process
Borrowing is a lengthy process. You cannot receive a refund on your
loan until NSU receives your loan proceeds from your lender and your
registration form from your center. Problems often arise when the Financial
Aid Office requests supplemental materials from students which are not
supplied promptly, delaying loan approval.
Remember, the borrowing process begins with your Financial Aid application
and loan application and progresses to the bank and then to Loan Disbursing
which must have your registration form for the term to compute your
refund. Also, the Registrar must have your correct address or your refund
may be delayed (unless you have signed up for direct deposit to your
checking account--highly recommended).
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