Financial Aid Offer Guide
Welcome to Hawkeye
We’re excited that you have selected Hawkeye as the next step in your education. We are here to assist you with any questions you have about paying for college, and connect federal, state, and institutional aid opportunities to your financial needs.
Bridging the Gap
Financial aid programs are designed to assist students with bridging the gap between the cost of attendance and expected family contributions as determined by the Free Application for Federal Student Aid. Our goal is to make it financially possible for all qualified students to attend Hawkeye.
About Your Offer
Your financial aid offer and cost of attendance breakdown are not set in stone and do not constitute your official bill. They are designed as budgetary guidelines, intended to inform you of what to expect and help you shape your financial plans for college.
Your offer may also include funds from other sources, such as scholarships or outside agencies. The Business Office will notify the Financial Aid office as outside funds are received. These funds will become part of your offer and may affect current awards. If you feel you need additional funds beyond what your offer provides, please review alternative funding options. You can also call our office to speak with an advisor.
Paying for College
Many factors go into planning how to finance your education. Please keep the following items in mind while you review your financial aid offer. Your offer is based on the results of your FAFSA and your current enrollment (if enrolled) or estimated full-time enrollment.
Enrollment Intensity
If you plan to enroll part-time, your grants will be prorated accordingly. Loans are normally not prorated for part-time enrollment. Pell grants are determined based on a percentage of full-time enrollment, rounded to the nearest whole number.
For example, if full-time enrollment is 12 credits, and you are enrolled in 7 credits, enrollment intensity is 58% (7 ÷ 12 x 100 = 58.3 rounded to 58)
Learn more about how enrollment changes impact your aid.
Cost of Attendance
This is an estimate based on the expenses of an average Hawkeye student, also called the student budget. It tells you what expenses to expect as a student, and helps you plan your budget. It is not an official bill.
Learn more about the cost of attendance.
Direct Costs
These are charges that appear on your official college bill, including tuition, required fees, and book charges. Other bookstore charges, library and parking fees, and other charges may be added to your account later in the term, if applicable.
Indirect Costs
These are the additional expenses you encounter as a student that do not show up on your college bill. This includes athletic fees, housing, transportation, food, books not charged to your Hawkeye account, and personal expenses. You are expected to pay these out of pocket, rather than through the college.
Summer Term
Summer aid is awarded as its own term. If all of your eligibility is used between fall and spring term, you may not have any remaining funds available for the summer term. You will need to make sure you budget accordingly. If you want to use (save) financial aid for your summer coursework, contact the Financial Aid office as soon as possible.
Paying Your Bill
You are responsible for paying any remaining balance after aid is applied in full every term. You can pay this by one lump sum, or set up monthly installments. Payments can be made by phone, mail, or in person at the Business Office in Hawkeye Center or online via My Hawkeye. Students can also set up payment plans with eCashier. Learn more about payment options.
Consent to Pay
You will be asked to provide electronic consent for the Business Office to use your financial aid funds to pay all of your institutional charges every year. These include, but are not limited to, tuition and fees, textbooks, and institutional fines. Also included are developmental courses, repeated coursework, and courses that you may choose to enroll in that do not pertain to your program of study and for which financial aid funds were not awarded.
Attendance
New students must attend classes for 30 days before loans are applied to their account balance. This doesn’t apply to grants or scholarships. For returning students, aid is always applied after class attendance is reported, which is approximately 3 weeks after the start of the term or 2 weeks after late start classes. (Aid is only applied for classes the student has been reported attending.) Your aid may be adjusted based on your attendance. You will be notified by email of any changes.
Lock Date
This date is 14 days into each term (7 days in summer term). After this, financial aid is locked and grants will not increase even if classes are added. Information regarding lock dates can be found here.
One Term Loans
All federal student loans are required to have two disbursements. One term loans are split in two equal installments during the one term. The second disbursement will occur no earlier than the midpoint of the term and after you have been reported as still attending. For short classes, the second disbursement may occur after classes are over.
Credit Balances
Credit balances will be sent to you after your Hawkeye bill is paid. If your financial aid is $4,500, but your bill is $2,000, you will receive the credit balance of $2,500.
Direct Deposit
Direct deposit is strongly encouraged to ensure you receive your credit balance quickly and securely. If no direct deposit information is entered, a check will be placed in the mail. To set up direct deposit with the Business Office, go to My Hawkeye > Self Service > Banking Information.
View Bill or Credit Balance
To view your bill or the amount of your credit balance, go to My Hawkeye > Self Service > Student Finance > Hover over Student Finance and Select Account Activity.
Eligibility Requirements
Official Transcripts
You must be a high school graduate or equivalent to receive state and federal aid. Your aid offer is based on the expectation that you will send official final transcripts to Hawkeye. These must be on file before any aid can be applied to your account.
Minimum Credits
You will need to be enrolled in at least six credit hours and attending at the time of disbursement to receive loan funds. If your loans are cancelled or denied due to being registered for less than six credits, and you wish to receive your Federal Direct Loans, you must complete a Loan Change Request Form in the Financial Aid office to reinstate your loan(s) after you have registered for six or more credits.
Changes to Eligibility Status
Several factors are used to determine your financial aid eligibility. If there are changes to those items, it could change how much aid you receive. These include, but aren’t limited to:
- Program of Study
- Enrollment Level (Part-time vs. Full-time)
- Default on prior federal student loans
- FAFSA information
In some cases, these changes can result in you owing money back to the college. More information on this topic can be found under Managing Your Award.
State Grants and Scholarships.
Eligibility for state grants and scholarships may be determined separately. If eligibility changes due to enrollment level, program change or state legislature, you may receive a separate notification.
In the event that available state funds are insufficient to pay the full amount of each approved state grant, the Iowa Department of Education has the authority to reduce the award.
Future Ready Iowa Last-Dollar Scholarship
Last-Dollar Scholarship recipients must remain enrolled in specific career or technical programs and meet criteria set forth by the Iowa Department of Education. Students must be enrolled in and complete a minimum number of credits each term. Students are also encouraged to participate in a volunteer mentor program.
Eligibility will be monitored and adjusted throughout each term. Learn more about ongoing requirements.
Next Steps
Accepting Your Offer
You must complete the “Next Steps” listed on your offer for financial aid to be applied to your account. After you complete those steps, your “anticipated aid” will be displayed on your My Hawkeye Billing and Payment Account Summary after you have registered for classes. You are responsible for paying any difference between your bill and the anticipated aid.
Loan Checklist
Any outstanding loan requirements will be listed on your Self Service Checklist in My Hawkeye. If you decline loans, there will be no further items to complete on that list. You must be enrolled in at least six credit hours and attending at the time of disbursement to receive loan funds.
Prospective Students
Notifications from the FAFSA will be sent to email address used to complete the FAFSA. Hawkeye will use their Hawkeye email to send changes to offer.
Accepted Students
Official notifications related to your financial aid will be sent to your Hawkeye email address, with some information posted directly to your My Hawkeye account under Self Service > Financial Aid.
Financial Aid Handbook
Additional information about financial aid at Hawkeye can be found in the Financial Aid Handbook.