Receiving Your Financial Aid

You must be registered at least half-time for the current session and all charges from the previous term must be paid. Otherwise, your financial aid will not be credited to pay your tuition, fees, university room and/or board charges, and the excess will not be refunded to you.

All financial aid (with the exception of work-study) is disbursed through the University Billing Office, Room 5, Calvin Hall. Students may view their financial aid history and the status of their aid application and awards on ISIS.  Authorization for direct deposit of financial aid can now be authorized via ISIS (under Student Records/Bank Information).  Students may also set up automated payment deduction plans directly from this location.  If you have not set up direct deposit, the University Billing Office will mail checks for any excess funds 7-10 days after the first official day of classes (this does not include orientation) to the address you have on file with the Registrar's Office as of the first day of class. Financial aid cannot be disbursed prior to the beginning of classes.

If you meet all eligibility requirements and do not have outstanding charges from a previous term, your financial aid will be directly applied to contracted University charges. (Contracted charges include tuition, fees, room and board costs.) Financial aid applied to contracted charges will be listed on your U-Bill.

If financial aid doesn't cover contract charges in full, the net amount will be due to the University. Any financial aid still remaining after contract charges have been paid will be refunded to you. If any financial aid cannot be applied or disbursed, you will be notified by mail to contact the University Billing Office or the Office of Financial Aid. Scholarships awarded from outside sources will be held in the University Billing Office or will be mailed to the student for endorsement, if necessary.

It is important to note the federal loan funds can only be used to pay for charges incurred during the semester for which the financial aid was approved, unless you sign a one-time authorization which allows the University Billing Office to apply loan funds towards charges dating from a previous session. If you sign this authorization, the maximum that may be applied towards the previous session charges is $100. Any remaining unpaid charges from a previous term must be paid in full before financial aid funds can be applied or refunded for the current semester. In addition, you should note that the University Billing Office does not withhold federal loan funds to pay for any charges other than contract charges. If you would like federal loan funds to pay for miscellaneous charges (i.e. bookstore, IMU, etc.) on your university billing account, you need to sign a Miscellaneous Charges Authorization. This authorization will remain in effect for as long as you are enrolled at the University of Iowa. This authorization can be rescinded at any time by contacting the University Billing Office.