Financial Aid Award Disbursement

Your initial award disbursement will include your grants, scholarships, 50% of your awarded Federal Direct loans, private loan funds, and any additional outside funding.

Award disbursement dates by semester
Lock Date Begin crediting/mailing
credit balance (refund) checks
30 day credit balance
(refund) checks
Fall 2021 September 5, 2021 September 10, 2021 September 21, 2021
Spring 2022 January 23, 2022 January 28, 2022 February 8, 2022
Summer 2022 June 6, 2022 June 10, 2022 June 29, 2022
Fall 2022 September 4, 2022 September 9, 2022 September 23, 2022
Spring 2023 January 22, 2023 January 27, 2023 February 10, 2023
Summer 2023 June 5, 2023 June 9, 2023 June 30, 2023

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.

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.

View reasons why your financial aid award may be adjusted.

Federal Direct Loans

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 Requirements

Accept or reject awarded Federal Direct Loans in My Hawkeye > Self-Service Menu > WebAdvisor for Students > Financial Aid Services

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

  1. You have read and understand the information:
    1. In the Financial Aid Handbook.

    2. In the email we sent you to notify you that your award is ready to view in My Hawkeye.

    3. On the Federal Direct Loan Master Promissory Note (MPN), if you have been awarded and have accepted Federal Direct Loans.

    4. On any other enclosures included in your award notification.

  2. You authorize Hawkeye to use your financial aid to pay your tuition, fees, and miscellaneous charges unless you contact the Business Office via email from your Hawkeye email address or in writing.

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.

Be enrolled in at least six credit hours and attending.

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.

Private Loans

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.


If you have been awarded state or federal grants, you will only receive a financial aid disbursement for classes that you are registered for and reported as attending. Your financial aid award will be adjusted to reflect your enrollment status if you are less than full-time status.

Percent of your awarded grant that will be disbursed
If you are registered for: % of your total awarded grant funds disbursed:
12+ credit hours 100%
9–11 credit hours 75%
6–8 credit hours 50%
less than 6 credit hours approximately 25%


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.

Other Funds

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.

Contact Information

Financial Aid

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

Regular Hours — Fall 2022

Mon–Friday 8:00am–4:30pm

Schedule an appointment

Business Office

Hawkeye Center 122
Email the Business Office

Regular Hours — Fall 2022

Mon–Friday 8:00am–4:30pm

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