Financial Aid Award Disbursement

Disbursement Requirements

Before your awarded Federal Direct Loans can be disbursed to your student account, you will need to complete the following disbursement requirements.

If these additional requirements are not complete by the initial disbursement date, the disbursement of your financial aid will be delayed at least one week after the requirements are completed.

Accept or reject awarded Federal Direct Loans in My Hawkeye > Self-Service > Financial Aid.

If you do not wish to borrow the full loan amount awarded, or will be a December graduate, complete the Partial Loan Request Form for the semester your loan will be disbursed.

First time borrowing a Federal Direct Loan? Complete a Federal Direct Loan Master Promissory Note (MPN).

First time receiving a Federal Direct Loan at Hawkeye? Complete an Entrance Loan Counseling session.

You must be enrolled in and attending at least six credit hours for your Federal Loans to be disbursed. If you have not been attending class but wish to start attending, see Changing Your Enrollment Verification Status.

Before your Federal Direct Parent (PLUS) Loan can be disbursed the parent must complete a Master Promissory Note (MPN).

Disbursement of Your Federal Direct Loans

If your loan is for the full year (fall and spring semesters) 50% of your loan will be disbursed fall semester and 50% spring semester.

If you are taking a one term only loan (fall only, spring only, or summer only), you will receive your loan disbursement in two equal installments during that term. The second disbursement will occur no earlier than the midpoint of the term and after mid-term attendance has been reported for you. For short classes that occur at the beginning of the term, the second disbursement may occur after classes are over. If you do not have 6 credits of mid-term attendance because of short classes that occur during the second half of the term, the second disbursement may occur after the midpoint of the short classes.

When your loans have been disbursed, the Business Office will notify you via your Hawkeye email.

You can cancel all or a portion of any Federal Direct loan within 30 days after the date you have been notified, via your Hawkeye email, that your loan has been disbursed.

Before a private loan is certified for disbursement by the Financial Aid office, you are required to complete a “Good Choices” packet.

Your private loan funds will be disbursed by the Business Office once per term, beginning no earlier than the financial aid disbursement date.

Hawkeye scholarships will automatically be credited to your student account.

External scholarships will be credited to your student account once the Business Office has received the scholarship check.

You will be notified via email when the scholarship has been added to your financial aid award.

The amount of grant funds that you are eligible for and that can be disbursed depends on how many credits you are enrolled in and marked as attending. See Enrollment Intensity for Grant and/or Loan Disbursement for more information.

Your Work-Study funds will be directly deposited to either your checking or savings account once you have been hired for a Work-Study position and have begun working. Learn more about the Work-Study program.

Payments from outside agencies will be credited towards your student account when the funds have been received by the Business Office.

You will be notified via email when the funds have been added to your financial aid award.