Summer 2024 Financial Aid FAQs

Publish Date

2024-03-28

Summer 2024 Financial Aid FAQs - Funding Your Future

Students have a lot on their plate, especially at the beginning of each semester. Understanding your financial aid can make life a lot less stressful and give you confidence that you’re starting out on the right foot. Here are some of our top FAQs to keep you informed and on top of your financial game.

Q. How do I check my financial aid status or disbursement?

A. To review your financial aid:

Log in to Student Self-Service
Choose "Financial Aid Notification" on the Financial Aid card to see your aid offer.
Choose the “Home” screen to view missing required documents or forms.

To check your disbursement status:

Log in to Student Self-Service
Choose "UI-Pay" on the University Bursar card to view and pay your bill.

Q. How can I make sure I’m eligible to receive my financial aid?

A. Several factors contribute to eligibility:

Ensure that you have a 2023-2024 FAFSA submitted to UIS.
Financial aid will notify students who have aid eligibility for the summer after summer registration begins. Not all students will have remaining student aid available for use in the summer.
To be eligible for a financial aid disbursement, you must meet all eligibility and disbursement requirements. See Terms & Conditions for further details.
You must establish the minimum enrollment requirement for each type of aid.

Minimum Enrollment Requirement for Summer Loan Eligibility

	Undergraduate Student	Graduate Student
Full-Time	12+ credit hours	6+ credit hours
Half-Time	6-11 credit hours	3-5 credit hours
Less than Half-Time	Less than 6 credit hours	Less than 3 credit hours

Q. Why hasn't my financial aid been offered for summer 2024?

A. If you have not received an aid offer, it could be because:

You do not have any remaining loan or federal Pell grant eligibility.
You may not have a FAFSA on file. The 2023-24 FAFSA must be submitted to UIS and is located at StudentAid.gov. The FAFSA must be submitted prior to June 30, 2024.

Q. Why hasn't my financial aid been disbursed?

A. The first financial aid disbursement is on or after May 25. There could be several reasons why you haven’t seen a disbursement:

Missing financial aid "Student Requirements" items in Self-Service.
Offered loans have not been accepted by you in Self-Service.
Failure to meet Satisfactory Academic Progress (SAP). View the SAP Policy on our Policies page.
Enrollment conflicts; enrollment not meeting minimum requirements.

Q. Why hasn't my loan disbursed?

A. Check the following:

Have you completed Direct Loan Entrance Counseling (first time borrower)?
Is a valid Master Promissory Note (MPN) on file?
Do you meet the minimum enrollment requirement (half-time)?
Parent PLUS loan: Did your parent complete the Parent PLUS Application for Parents and Master Promissory Note (MPN)?
Graduate PLUS loan: Did the graduate student complete the PLUS Application for Graduate Students, entrance counseling, and Master Promissory Note (MPN)?
Loan applications, MPNs and counseling may be completed at StudentAid.gov.

Q. What is the financial aid recalculation date? How does it impact me?

A. The financial aid recalculation date is on or after June 8. Aid is adjusted based on students' enrollment status at this time.

The financial recalculation date is after the last day you may submit a partial withdrawal of a course and receive a 100% refund. Complete withdrawals with no financial obligation must be completed by June 2 for a full refund for first-half and full term classes, and June 30 for Last-Half classes.

At recalculation, your cost of attendance and Federal Pell Grant will be adjusted based on your actual enrollment.
Loans will be canceled if your enrollment falls below half-time.
Financial Aid may be adjusted to keep your total financial aid offered within the cost of attendance and demonstrated financial need.
Financial Aid adjustments may result in students owing money back to the university based on the early disbursement and refund schedule.

Q. What happens if my account is overpaid?

A.If your financial aid overpays the student account balance, the overpayment will be refunded beginning on or after May 30. Student account refunds are processed via direct deposit (ACH) or paper check. Direct deposit is recommended and provides a secure, efficient method to receive your refund. Once the refund is posted:

Direct Deposit: Receive your refund in 3 - 5 business days.
Paper Check: Mailed to the address on file in 12 - 15 business days.

Q. How do waitlisted courses affect my financial aid eligibility?

A.Waitlisted courses are not considered enrolled. Your enrollment as of the financial aid recalculation date is what determines your final financial aid eligibility. If you have courses in waitlist status at the financial aid recalculation date, they cannot be considered towards financial aid eligibility.

Q. What about my UIS scholarships?

A. Generally speaking, most UIS scholarships are not available in the summer term.