- How is financial aid disbursed?
Financial aid (except Work-Study) is disbursed by the University Billing Office at the beginning of each semester and continues throughout the semester. If you meet all requirements for the disbursement of aid, the University Billing...View FAQ
- I will be a first-year student this fall and will be taking out a Federal Direct Loan. When should I complete my Master Promissory Note and Entrance Loan Counseling requirement?
Do it now online through a link provided on our Master Promissory Note and Entrance Counseling web pages. Taking care of this requirement now will be one less thing to have to worry about during your transition to the University of Iowa.
- Is financial aid available for summer school and how do I apply?
For financial aid purposes, the summer session is considered the final term of the academic year. To apply for summer financial aid, you must have the Free Application for Federal Student Aid (FAFSA) and a separate summer application on file in the Office of Student Financial Aid. The ...View FAQ
- Will my summer financial aid be affected If I withdraw or drop a class during the summer session?
Students receiving summer financial aid should contact the Office of Student Financial Aid before dropping individual courses or withdrawing. A change in registration can impact a student's financial aid eligibility. See our summer withdrawing or dropping classes web page for important details
- I am thinking of transferring to another college. Will my financial aid transfer from the University of Iowa to the new college?
No. Financial aid does not transfer from one institution to the next. You will need to have your FAFSA information sent to your new college. You can do this on the web at http://fafsa.ed.gov or by calling the federal processor at 800-433-3243. Also contact the financial aid office at your new college about any other required documents. You...View FAQ
- What is financial need?
- How is financial aid affected if I change hours?
Adding or dropping hours can affect your financial aid eligibility. You should contact a Financial Aid Counselor before adding or dropping hours.
- When do I have to repay my loans?
Federal Perkins Loans have a grace period of nine months and Federal Direct Stafford Loans have a grace period of six months from the date of graduation, the date a student drops below half-time enrollment, or the date a student withdraws from school. Before it is time to start repayment, you should receive a repayment schedule disclosure from your lender. Additional information about loan...View FAQ
- What is the difference between subsidized and unsubsidized Federal Direct Stafford Loans?
The subsidized loan is awarded to a student who demonstrates financial need by filing the Free Application for Federal Student Aid (FAFSA). The federal government pays the interest on these loans while the student is in school at least half-time and during certain periods, such as grace and deferment.
- If I withdraw for the semester, how does that impact my financial aid?
Student withdrawals may occur:
- officially when the student contacts the Office of the Registrar or goes to the Registrar's Service Center or
- unofficially when the student stops attending classes but does not formalize the withdrawal through the Office of the Registrar. To understand the impact of an unofficial withdrawal, view the...
- I have taken all of the classes required for my degree but I cannot graduate because my GPA is too low. Can I get financial aid for classes to raise my GPA?
Generally, a minimum GPA of 2.0 is required to graduate. If you cannot graduate because your cumulative and/or major GPA is too low, you have not met all of your degree requirements so you may continue to qualify for financial aid. If your UI GPA is below a 2.0, you may need to complete a SAP Appeal Form to be...View FAQ
- I am working on one major and a minor. Will I qualify for financial aid?
You will qualify for financial aid until you have met all degree requirements for your major. Once you have completed all degree requirements for your major, you won’t qualify for financial aid even if you haven’t completed your minor.
- How do I know if I have met all of my degree requirements?
- I have taken all of the classes required for my major but still don’t have enough hours to graduate. Will I qualify for financial aid?
Yes, you will continue to qualify for financial aid until you have earned enough hours to graduate.
- I am working on a double major. What can I do to qualify for financial aid until I graduate?
OSFA encourages you to work closely with your academic advisor(s) to map out a plan for graduation. If you can hold out at least one class in each major until your last semester of enrollment, you will continue to qualify for all forms of financial aid. If you finish one major before the other, you will not qualify for the federal Pell Grant or SEOG, but may qualify for federal loans and...View FAQ
- I am almost done with my first major and am thinking about adding another. Will I qualify for financial aid?
Yes, you will qualify for federal, state, and institutional financial aid until you have met all requirements for your first degree. After that, only courses required for your degree can be considered for federal loans and work study, state, and institutional aid. You will not be able to receive the federal Pell Grant or SEOG once you have completed the requirements for your first degree....
- I am in the Secondary Teacher Certification program so I have to finish my major before I can student teach. Does this mean I won’t get financial aid when I’m student teaching?
You will qualify for financial aid during your student teaching semester. Your degree audit on MyUI should reflect that your degree cannot be conferred until both your degree requirements and teacher education program requirements are met.
- I am majoring in Elementary Education. Will I qualify for financial aid when I’m student teaching?
Yes. Student teaching is required for a degree in Elementary Education so you will qualify for federal, state, and institutional financial aid until you have met all degree requirements for your first bachelor’s degree.
- If I have met all of my degree requirements, when I file my FAFSA, should I indicate that I am working on my first bachelor’s degree?
Yes, you should indicate first bachelor’s degree on the FAFSA. If the Registrar’s Office notifies OSFA that you have met all degree requirements for your first bachelor’s degree, OSFA will make the appropriate changes.