Award Disbursement

When Your Financial Aid is Applied to Your Account

An award disbursement is when funds from your financial aid award are applied to your student account.

Your initial disbursement will include awarded:

  • grants
  • scholarships
  • 50% of your awarded Federal Direct loans
  • private loan funds
  • any additional outside funding

Important Disbursement Dates

  Lock Date Begin Crediting / Mailing Credit Balance (Refund) Checks 30 Day Credit Balance (Refund) Checks Single Term Loan Second Credit Balance (Refund) Checks
Spring 2025 January 22, 2025 January 31, 2025 February 10, 2025 March 14, 2025
Summer 2025 June 8, 2025 June 13, 2025 July 3, 2025 July 3, 2025
Fall 2025 September 2, 2025 September 12, 2025 September 18, 2025 October 15, 2025
Spring 2026 January 25, 2026 January 30, 2026 February 10, 2026 March 10, 2026
Summer 2026 June 11, 2026 June 12, 2026 July 6, 2026 July 7, 2026

Disbursement Requirements

Before your funds can be disbursed to your student account you must:

  1. Have a financial aid award.
  2. Submit all required forms and documentation.
  3. Complete all loan disbursement requirements if you are taking out federal student loans.
  4. Be enrolled in at least 6 credit hours and attending class.

Note: If you are a First Year, First Time Student Loan Borrower, your first loan disbursement will be 30 days after the start of the first class in which you are reported as attending.

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.

Disbursement of Your Federal Direct Loans

Here’s how your Federal Direct Loans will be disbursed:

  • Loans for the Full Year (Fall and Spring Semesters): If your loan covers the entire academic year, 50% will be disbursed in the fall semester, and the remaining 50% will be disbursed in the spring semester.
  • One-Semester Loans (Fall Only, Spring Only, or Summer Only): If your loan is for just one semester, it will be split into two equal installments during that semester. Here’s how it works:
    • The first disbursement happens at the start of the semester.
    • The second disbursement happens no earlier than the midpoint of the semester, but only after your mid-term attendance is confirmed.
    • For short classes that take place at the start of the semester, the second disbursement may happen after those classes are finished. If you’re taking short classes that start in the second half of the semester, you’ll need to have 6 credits of mid-term attendance for your second disbursement, which might not happen until after the midpoint of those classes.

Notifications and Cancellations

Once your loans are disbursed, you’ll get a notification in your Hawkeye email.

If you decide you don’t want all or part of your loan, you have 30 days from the date you’re notified to cancel it.

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.

Enrollment Intensity for Grant and/or Loan Disbursement

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.

Check out 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.

Reasons Why Your Aid May be Adjusted

Accepting Your Financial Aid Award

By accepting your financial aid award, you agree to the following:

  1. You have read and understand the information provided:
  2. You authorize Hawkeye to use your financial aid to pay for tuition, fees, and miscellaneous charges unless you contact the Business Office via your Hawkeye email or in writing.

Enrollment Intensity for Grant and/or Loan Disbursement

Enrollment intensity is all about how many credit hours you’re registered for and attending in a semester. It plays a big role in determining your financial aid eligibility and the amount you receive. Your financial aid award will be adjusted based on your enrollment intensity. You can check your attendance in Self-Service: Grades.

Enrollment Intensity for 2024–25 State of Iowa grants has not been determined by the Iowa Department of Education. We expect to know more by July.

Enrollment Intensity Levels and Financial Aid Impact

Credit Hours Enrollment Level Enrollment Intensity for Federal and State Grants Enrollment Intensity for Federal Direct Loans
12+ Full-time 100% 100% eligibility
11 Three-quarter time 92% May revise
10 Three-quarter time 83% May revise
9 Three-quarter time 75% May revise
8 Half-time 67% May revise
7 Half-time 58% May revise
6 Half-time 50% May revise
5 Less-than-half-time 42% 0% – Not Eligible
4 Less-than-half-time 33% 0% – Not Eligible
3 Less-than-half-time 25% 0% – Not Eligible
2 Less-than-half-time 17% 0% – Not Eligible
1 Less-than-half-time 8% 0% – Not Eligible

Financial Aid Lock Date

On the lock date, the credit hours you are registered for and attending are locked and used to determine your financial aid award. You can check your attendance in Self-Service: Grades.

If you’re planning to take classes that start later in the semester, like a second 8-week course, you need to register for them before the lock date to have those credit hours count toward your enrollment level for financial aid. Credit hours added after the lock date won’t be included in most financial aid awards.

When is the Lock Date?

  • Fall and spring semesters: 14th day of the semester, excluding federal holidays
  • Summer semester: 7th day of the semester

Get specific dates

Credit Balance (Refund) Checks

If there are leftover funds after your financial aid is disbursed and applied to your student account balance, you’ll have a credit balance. The Business Office will either deposit the funds directly into your bank account or mail you a credit balance check.

Note: Not every student will receive a credit balance.

If you’re expecting a check, it will be mailed to the address listed in Self-Service: About You. Checks cannot be picked up in person at the Business Office.

Credit Balance Disbursement Dates

Direct Deposit: The Fastest Way to Get Your Refund

Direct deposit is a banking service that allows funds, such as your financial aid refund, to be electronically transferred directly into your bank account. This method is faster, more convenient, and safer than receiving paper checks. With direct deposit, there’s no need to visit a bank or wait for a check to clear—it’s automatically deposited into your designated account.

Sign up in Self-Service: Refunds, Reimbursements & Payments

Refund Check Acceptable Use

Acceptable use of your refund check includes paying for:

  • Housing
  • Food
  • Gas
  • Daycare

Note: Your credit balance check cannot be used to purchase a car, pay for a vacation or trip, or be used towards other non-educational expenses.

Contact Us

Financial Aid

Main Campus
Hawkeye Center 118
319-296-4020
800-670-4769 ext.4020
319-209-9239 (text only)
319-296-4495 (fax)
Email Financial Aid

Schedule an Appointment

Regular Hours — Spring 2025

Monday – Friday 8 AM – 4:30 PM