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Receiving Financial Aid at IUPUI

How and When Aid is Disbursed

Your financial aid awards for the academic year are typically divided equally between the Fall and Spring Semesters. Financial aid awards credit to your Bursar account at the beginning of the semester if you meet all eligibility requirements. Prior to disbursement, your eligibility is verified. Your federal financial aid will credit to your Bursar account no earlier than ten (10) days prior to the start of your first class as long as you have met all eligibility requirements.

If a financial aid award is designated as an “anticipated” or “estimated” award, these funds do not credit (pay charges) to your bursar account. Estimated awards are made when additional information is needed to determine eligibility and/or the award amount or the award is pending action by the student.

The Office of the Bursar will apply your financial aid awards to current assessed university charges ten days prior to your first course.

Student Account Refunds

If the amount of your financial aid is greater than the amount of your Bursar bill and you have Direct Deposit set up, you will receive a refund in your designated bank account. Otherwise, you will receive a refund through the U.S. Mail. The default refund method is a paper check, which is sent to the mailing address we have on file for you. Printing & mailing a paper check takes time. So paper check refunds take about 10-14 business days to get to you. Refunds sent via Direct Deposit, on the other hand, take 5-7 business days. Therefore, we highly recommend that students set up Direct Deposit to ensure that they receive their refund as quickly as possible. To learn how to set up Direct Deposit online please click here.

Reasons for possible delays in refunds...

• No signed Title IV Authorization form on file
• Eligibility problems:
      • Not enrolled in enough hours
      • Changed class standing
      • Prior term debts
      • Flagged by Student Loan Administration: Past due loan debts, required exit interview, etc.

For Federal Work-Study (FWS), students are paid by the employer on a bi-weekly or monthly basis for FWS wages earned during the prior payroll period.

How Enrollment Level Impacts Aid

Some financial aid award amounts are determined by your enrollment status at different points throughout the semester. For more information please refer to

Additional Resources & Information:

Office of the Bursar –Information on tuition and fees, tuition refund policy, and tuition disputes

Office of the Registrar – Information for students on how to complete the process to drop classes or officially withdraw, including the academic calendar listing the tuition refund periods by semester.

Return of Title IV Funds – Regulatory Summary concerning the treatment of Title IV funds when a student withdraws or drops out.

Withdrawing for Semester – Information on how withdrawing for the semester can impact your financial aid.

Dropping Classes – Information on how dropping classes can impact your financial aid.