A key parameter underlying the efficacy of any nonlinear optical process is group velocity dispersion. In quantum cascade lasers (QCLs), there have been several recent demonstrations of devices exploiting nonlinearities in both the mid-infrared and the terahertz. Though the gain of QCLs has been well studied, the dispersion has been much less investigated, and several questions remain about its dynamics and precise origin. In this work, we use time-domain spectroscopy to investigate the dispersion of broadband terahertz QCLs, and demonstrate that contributions from both the material and the intersubband transitions are relevant. We show that in contrast to the laser gain-which is clamped to a fixed value above lasing threshold-the dispersion changes with bias even above threshold, which is a consequence of shifting intersubband populations. We also examine the role of higher-order dispersion in QCLs and discuss the ramifications of our result for devices utilizing nonlinear effects, such as frequency combs.