Financial Aid Award Disbursement
Spring 2021 loan disbursement dates announcement: Loan borrowers will receive a Loan Disclosure Statement with the loan disbursement dates. Due to the last minute changes to Spring 2021 disbursement dates, this information may contain the original disbursement dates and not the updated date. This is because the information will not be updated with the loan servicers before the spring term starts.
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 |
|Fall 2020 ||September 6, 2020 ||September 11, 2020 ||September 25, 2020 |
|Spring 2021 ||February 1, 2021 ||February 5, 2021 ||February 19, 2021 |
|Summer 2021 ||June 7, 2021 ||June 11, 2021 ||July 2, 2021 |
Before your funds can be disbursed to your student account you must:
- Have a financial aid award.
- Submit all required forms and documentation.
- Complete all loan disbursement requirements if you are taking out federal student loans.
- 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.
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:
- You have read and understand the information:
In the Financial Aid Handbook.
In the email we sent you to notify you that your award is ready to view in My Hawkeye.
On the Federal Direct Loan Master Promissory Note (MPN), if you have been awarded and have accepted Federal Direct Loans.
On any other enclosures included in your award notification.
- 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.
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.
Outside 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.
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.