Financial Aid Disbursement

The Office of Student Financial Aid, 208 Calvin Hall, is responsible for the awarding of financial aid funds. Contact the Office of Student Financial Aid with questions regarding the application or awarding process.

All financial aid (with the exception of 'work-study') is disbursed through the University Billing Office. Students receiving financial aid (except in the case of certain scholarships), will have all funds directly applied towards their contract charges, (contract charges include tuition/fees, and room/board assessments). Financial aid applied to contract charges will be listed on the monthly bill. If financial aid does not cover any contract charge in full, the net amount will be due to the University, (See Billing and Payment Options).

Financial aid that has not been received, but has been approved by the time of the billing will be estimated on the billing statement. Any financial aid funds still remaining after contract charges have been paid will be refunded to students beginning the first day of classes, and will be sent by direct deposit to the student's savings or checking account. In order to avoid delays in receiving financial aid refunds, students need to have their excess funds deposited directly into a bank account by authorizing direct deposit via ISIS (under the Student Records/Bank Information category). This process allows a more timely receipt of refunds, click here for more information. It is the responsibility of the student to check with the University Billing Office to be certain all aid has been disbursed. If any financial aid can not be applied or disbursed, students will be notified by mail to contact the University Billing Office, or the Office of Financial Aid.

It is important to note that federal loan funds can only be used to pay for charges incurred during the semester for which the financial aid was approved, unless the student signs a one-time authorization which allows the University Billing Office to apply loan funds towards charges dating from a previous session. If the student signs this authorization, the maximum that may be applied towards previous session charges is $200.00. Any remaining unpaid charges from a previous term must be paid in full before excess financial aid funds can be refunded for the current semester. Students may sign this authorization at the University Billing Office, Room 5, Calvin Hall.

In addition, students should note that the University Billing Office does not withhold federal loan funds to pay for any charges other than contract charges. If the student would like federal loan funds to pay for miscellaneous charges on their university billing account, a Miscellaneous Charges Authorization should be signed by the student, (or the student's parent in the case of a Parent Plus Loan). This authorization will remain in effect for as long as the student is enrolled at the University of Iowa. This authorization can be rescinded at any time by contacting the University Billing Office.

Submitting Scholarship Checks to the University of Iowa

Students receiving non-University of Iowa scholarships should print both the Submitting Scholarship Checks to the Univerisy of Iowa information sheet and the University's private donor scholarship policy letter (both PDF forms) stating our policy on processing and disbursing these private donor scholarship funds starting with the 2011 fall semester.

Information on these documents includes the following:

• Address and contact information of the office to mail the checks, the Office of Student Financial Aid. Checks should not be mailed to the Billing Office or enclosed with the University (U-bill) payment.
• Information scholarship donors are required to include with the scholarship check(s) for accurate and timely processing.
• In the absence of written donor instructions the University will apply the scholarship checks for the academic year (one-half fall semester and one-half spring semester) and require full-time enrollment.

Copy of Tuition Bills and Verification of Enrollment for Donor

• If the scholarship donor requires a copy of the student University bill (available August 1st for fall semester) or verification of enrollment (available after student registers), the student may print these from the Student Records section in ISIS (Iowa Student Information Services).

Contact Informaion

• The Office of Student Financial Aid, financial-aid@uiowa.edu or phone 319-335-1450 or 800-553-4692 with additional questions on submitting scholarship checks to the University.
• The University Billing Office, ubill@uiowa.edu or 319-335-0071 or 800-943-4557 with disbursement questions after the scholarship checks have been received and entered by the Office of Student Financial Aid.

Tax Information

Information regarding the following education benefits included in the Taxpayer Relief Act of 1997 may be found at the The U.S. Department of Education:

• Hope Scholarship Credit
• Lifetime Learning
• Education Loan Interest
• Education IRA

Please consult your Tax advisor for complete eligibility requirements.