Student Loans

After you have completed your loan application and been approved for a loan--which is shown on your award letter--your loan must still be transmitted to NSU and credited to your account, before a refund can be issued. Most loans are transmitted electronically to NSU, however others are still sent as traditional paper checks.

If the loan is transmitted electronically to NSU, it is credited to student accounts after being received and after enrollment eligibility is verified (registered for sufficient credit hours, satisfactory grade point, entrance interview completed, etc.).

If the loan is transmitted by traditional paper check, the loan is credited to student accounts after enrollment eligibility is verified and the check is sent to the student for endorsement and returned by the student.

Loans sent to NSU electronically, a process called EFT (electronic loan transfer) can be processed and sent more rapidly through the banking system and by NSU. Borrowers selecting EFT will usually receive any refunds due them more rapidly than students whose loans are issued as paper checks.