Financial Aid

Financial Aid - What Is It?

Financial aid funding assists students in offsetting the cost of a college education including tuition and fees, room and board, books, supplies, transportation, and miscellaneous expenses. Gift funding may be in the form of grants and scholarships; this type of aid does not have to be repaid. Self-help funding is aid that does need to be repaid in the form of student loans and also includes money that may be earned through the college work-study programs.

Source of Funding Eligibility Requirements Maximum Amounts
Federal Pell Grant (PELL) Complete the FAFSA at An undergraduate student who has NOT received a bachelor’s degree. The maximum award for the school year is $6,345 (based on the number of eligible Title IV credits).
Federal Supplemental Educational Opportunity Grant (FSEOG) Complete the FAFSA at An undergraduate student who demonstrates exceptional financial need. The award amount is determined by the Financial Aid Office.
Cardinal Grant Determined by the various departments. The maximum award is the total cost of tuition and fees. Awarded by various NIC departments.
Determined by the donor. Awarded by the various NIC Scholarship Committees. Complete the NIC Foundation Scholarship Application. Determined by the donor. Scholarship information is available at
Federal Direct Subsidized Stafford Loan Complete the FAFSA at At least half‑time (6 credits) enrollment. The maximum award for students completing 0‑25 credits is $3,500. Maximum award after 25 credits is $4,500.
Federal Direct Unsubsidized Stafford Loan Complete the FAFSA at At least half‑time (6 credits) enrollment. The maximum award for dependent students is $2,000. The maximum award for independent students is $6,000.
Federal Direct Parent Plus Loan (Parent Loan) Parent applies at Complete the FAFSA at At least half‑time (6 credits) enrollment. Parents may borrow up to the cost of education minus previously awarded financial aid.
Federal Work-Study Complete the FAFSA at At least half‑time (6 credits) enrollment. The maximum is determined by Financial Aid Office.
Idaho Work-Study Must be an Idaho resident Complete the FAFSA at At least half‑time (6 credits) enrollment. The maximum is determined by Financial Aid Office.

Eligibility for Financial Aid

North Idaho College awards most financial aid based on financial need.

Eligibility for need‑based financial aid is determined by the student’s computed financial need, as established by the U.S. Department of Education. Financial need represents the difference between the total cost of attendance and the amount the student and his/her family can afford to pay toward that cost—the Expected Family Contribution (EFC). The total cost of attendance includes allowances for the cost of tuition and fees, books, supplies and tools, room and board (or rent and food), living expenses, and transportation from home. The EFC is calculated by using information the student and his/her parents (if dependent on parents) or spouse (if married) provide on the Free Application for Federal Student Aid (FAFSA) and verification documents.

To be eligible for Federal Financial Aid – need- or non-need-based – a student must: 

  1. Have a high school diploma or GED certificate.
  2. Be accepted for admission into North Idaho College as a matriculated (degree-seeking) student.
  3. Not be in default on a Federal Perkins Loan, Federal Stafford Loan, Federal Supplemental Loan for Students, or Federal Parents Loan for Undergraduate Students made for attendance at an educational institution.
  4. Not owe an overpayment on a Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Leveraging Educational Assistance Partnership Program, or Federal Stafford Loan previously used for attendance at any educational institution.
  5. Be a U.S. citizen, U.S. national, or eligible non-citizen.
  6. Certify that, if required, the student has registered with Selective Service.
  7. Maintain satisfactory academic progress toward his/her North Idaho College degree or certificate as defined by the North Idaho College Satisfactory Academic Progress Policy.

Satisfactory Academic Progress Policy

The U.S. Department of Education requires students to maintain satisfactory progress toward their degree or certificate in order to be eligible for financial aid. This applies to students who are applying for financial aid the first time, as well as to those who are currently receiving aid. All semesters of attendance are reviewed, including periods when the student did not receive financial aid.

For more information about NIC’s Satisfactory Academic Progress Policy, go to

Applying for Financial Aid

Students interested in scholarships should complete the Scholarship Application available through their MyNIC account by searching for “NIC Foundation Scholarship Application” in the search bar at the top of your MyNIC account home page. Scholarships offered through the state and outside entities may be accessed by visiting and clicking on “Scholarships.”

To apply for all other types of financial aid, the student and their parent(s) (if dependent) must complete the Free Application for Federal Student Aid (FAFSA) available at

To apply for financial aid, follow the steps below:

  1. With the Department of Education
  2. With the NIC Financial Aid Office
    ( aid)
    • Fill out an NIC Foundation Scholarship Application.
    • Idaho residents only - Fill out an Idaho scholarship application which is available at
    • Submit requested documentation if you are selected for verification.
    • Once you have been awarded aid, you will be notified via your Cardinal Mail. You can then view and accept your award by logging in to your MyNIC, Self-Service, Financial Aid.
  3. For Loans
    • Any loans offered must be accepted or rejected electronically by logging on to your MyNIC, Self-Service,  Financial Aid, review and accept your financial aid award package.
    • The Entrance Counseling and Master Promissory Notes must be completed at
    • Those interested in unsubsidized loans can apply using the “request a loan” feature in Self-Service under the Financial Aid Tab.
    • Students receiving student loans (subsidized and unsubsidized) as part of their financial aid package will receive their disbursement in two increments per semester. The first disbursement will take place three weeks into the semester and the second disbursement will occur after midterms, providing the student hasn't withdrawn.

For more information, visit

Bookstore Charges and Financial Aid

Students who have accepted their financial aid are allowed to charge books and supplies at the NIC Cardinal Bookstore beginning three weeks prior to the start of classes through the second week of classes (one week prior for summer session).

Title IV Federal Financial Aid Refund and Repayment Policy

The federal refund/repayment policy for students receiving Title IV Federal Financial Aid is different than the established North Idaho College refund policy.

Anyone wishing to obtain a copy of the federal policy and/or calculation examples may stop by Cardinal Central or access the information from the college's website at

Financial Aid Refund/Withdraw Policy

Federal law requires that when you withdraw during a payment period or period of enrollment, the amount of federal financial aid that you have "earned" up to that point by attending classes is determined by a specific formula. If you received (or NIC received on your behalf) less assistance than the amount that you earned, you may be able to receive those additional funds. If you received more assistance than you earned, the excess funds must be returned.

For more information, visit