- be enrolled at least half-time (except for Federal Pell Grant) in a program leading to a degree at The University of Iowa. (Audits and cooperative education 00 hours do not count towards enrollment for financial aid purposes);
- not have an outstanding charge from a previous term;
- complete, sign, and return any loan promissory note(s);
- have completed Entrance Loan Counseling, if you are a first-time Federal Direct Stafford and/or Graduate PLUS Loan borrower;
- maintain satisfactory academic progress as defined in the Satisfactory Academic Progress (SAP) Standards; and
- not be in default on any educational loan, nor owe any refund on a grant or loan at any institution.
The Office of Student Financial Aid determines your eligibility for financial aid and the University Billing Office is responsible for the disbursement of your financial aid (except Work-Study). The University Billing Office will apply your financial aid funds to your University Bill (Ubill). Prior session charges must be paid before financial aid funds can be released. Refer to the University Billing Office financial aid disbursement web page for more information and answers to frequently asked questions.
U-bills are generated on the first working day of each month and are available on ISIS. Tuition for the summer session is billed in June, fall session in August, winter session in December and spring session in January. In addition to showing tuition and fee charges, these U-bills will show an estimate of all of your approved financial aid (except Work-Study). If part of your aid includes scholarships and grants, they will be used before any loans to pay for contract charges (tuition and fees and on-campus housing and dining). Any excess financial aid (any financial aid over and above what is used for contract charges on your bill) will be refunded to you by the University Billing Office beginning the first day of class.
If part of your financial aid package includes loans, check ISIS to see if you need to complete a promissory note and/or entrance counseling. These must be completed before your loan funds will disburse. When in ISIS, be sure you select the appropriate session (i.e., Fall 2013, Spring 2014). Click on the heading Student Records. Under the Financial Aid heading, click on Loan Document Status.
If you are receiving a privately-funded scholarship (i.e. Rotary Foundation, local hometown organization) and the funds are not reflected on your U-bill, contact the donor. Inform them that you have received your U-bill and ask if they need additional information regarding submitting scholarship checks.
In accordance with federal regulations, University of Iowa policy requires that all excess financial aid refunds and all other credit balances from your U-bill be electronically deposited to the financial institution account of your choice. This policy also covers refunds from PLUS loans to parents. Parent PLUS loan borrowers should print the form from the University Billing Office web site (under the Non-Student Forms heading). For prompt refund processing, it is important that you sign on to ISIS and provide your bank account information into the secure ISIS portal. Electronic refunds will be processed daily and in your account within two days. If you do not provide your financial institution information, your excess refund could be delayed up to 14 days.
You can also authorize the University Billing Office to pay for any other current session charges before any financial aid is refunded. This authorization form is available on the University Billing Office web site. Sign and return the authorization form to the University Billing Office, Room 5 Calvin Hall.
You may contact the University Billing Office at:
The University of Iowa Billing Office
5 Calvin Hall
Iowa City, IA 52242