University of Iowa Office of Student Financial Aid (UI OSFA) receives student's FAFSA data from federal financial aid processor.
Student receives Student Aid Report (SAR)/e-mail from the federal financial aid processor. Review items on SAR/e-mail. If corrections are necessary, see Financial Aid Application Checklist for 2008-09, #2.
Federal financial aid processor receives FAFSA from parent/student.
UI OSFA sends information about UI Verification Form (IVF) to student, and requests copies of appropriate 2007 federal income tax
return(s).
If financial aid is more than the contracted charges, any excess funds are refunded by the University Billing Office to the student or, if a Parent PLUS Loan was obtained, to the parent.
IVF and 2007 federal income tax return information received by UI OSFA.
After classes have begun, the University Billing Office uses the financial aid to pay for contracted charges on the student's university bill (U-bill).
File is reviewed. (Student will be contacted if additional information is needed.)
Student receives financial aid notification and (if applicable) returns loan promissory notes.