How will I know when my loan in processed?
First-time borrowers at NIU: If this is your first Stafford Loan, the lender or their servicer, such as Sallie Mae, will send you a Master Promissory Note (MPN) to sign and return before funds can be disbursed. A Notice of Guarantee disclosure Statement (NOG) should also be provided to you by the lender. If you have a signed MPN already on file, your lender will send you a copy of the NOG only.
Promissory notes and/or disclosure statements are mailed to students at their permanent addresses beginning in July, prior to the start of the academic year. First-time borrowers must also complete an entrance loan interview before a loan check will be disbursed to their account.
When all the above is completed the loan check will be applied to your bursar's bill. To check the status of your account visit the Bursar's website at: www.niu.edu/bursar/.
All Other Borrowers: Once the loan is processed by our office and received by your lender or their servicer, the funds will be transfered electronically to NIU to your bursar's account. To check the status of your account visit the Bursar's website at www.niu.edu/bursar/.
