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 term/award period.

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

Federal Direct Loans are disbursed as a credit to the IWU student account, generally in one payment per term/award period. For students in a term-based program format, the disbursement occurs approximately 10 days after the start of the first class attended in the term. For students in a non-term program format, the disbursement occurs 14-21 days after the start of the award period.

Indiana State Grant Aid is disbursed as a credit to the IWU student account in one payment per state term. For students in a term-based program format, there are three or four state terms in the state academic year. The first state term begins in the first term where a student is enrolled full-time. For students in a non-term program format, there are two state terms in the state academic year. For the Frank O’Bannon Grant and the 21st Century Scholarship, the first state term begins in the first 6-month timeframe where a student is enrolled full-time (at least 12 credit hours). The second 6-month state grant term begins immediately after the first. Regardless of the program format, for students enrolled full-time on the 28th day of the state grant term, the earliest date state grant funds will be disbursed is on the 29th day of that term. For students not enrolled full-time on the 28th day of the state grant term but who later become enrolled full-time within that term, the earliest date state grant funds will be disbursed is on the last day of the course in which the student completes full-time enrollment for the term. 

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.  

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

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.