How and When Student Financial Aid is Disbursed

Federal Pell Grant is disbursed as a credit to the IWU student account in one payment per award period.

Federal SEOG is disbursed as a credit to the IWU student account in one payment per award period.

Federal TEACH Grant is disbursed as a credit to the IWU student account in one payment per award period.

Federal Direct Loans are originated shortly after classes have begun. The funds are applied as a credit to the IWU student account, typically in two disbursements per academic year. For new undergraduate students, or students entering a new undergraduate program, the first disbursement funds will be placed on the IWU student account 30 days after the start of the first course. For new graduate students or students entering a new graduate program, the first disbursement funds will be placed on the IWU student account one to three days after the student financial aid award package for the academic year has been calculated. Disbursements for subsequent award periods typically occur 14-21 days after the start of the new award period and successful completion of the prior award period has been confirmed.

Indiana State Grant Aid is disbursed as a credit to the IWU student account in one payment per state term. Indiana state grants may be applied toward tuition costs only.

Kentucky State Grant Aid is disbursed as a credit to the IWU student account in one payment per state term.

Ohio State Grant Aid is disbursed as a credit to the IWU student account in one payment per state term. Ohio state grants may be applied toward tuition costs only.

Ministerial Student Aid is disbursed in the form of a check to the student four times a year (January, February, July, and October) from Wesleyan Headquarters for courses completed during the prior period.

All other types of aid are awarded and disbursement dates set as the necessary paperwork is received.

All financial aid forms and information submitted online must be received at least three weeks before a planned class start.

Applying for student financial aid does not remove responsibility for payment. If the funding is not received, the student must pay all outstanding balances immediately.