Processing Your Application

Now that you’ve completed the application steps, please read the information below so that you understand when and how you are notified about your loan and/or work-study eligibility and what additional action, if any, you are required to take.

Application Processing Timeline

Applications are processed on a first-come, first-served basis; therefore, we encourage you to apply as early as possible. Please refer to the detailed processing timeline below.

 

 

 

Processing Your Application

Application Type

Application Timeline

Awarded Timeline

Summer Applicant

On or before April 7, 2017

Early May through June

Entering/New Students

On or before May 5, 2017

Early June through July

Continuing/Returning Students

On or before June 30, 2017

Early August through September

Allow 4-6 weeks for processing. Students who apply after the priority deadline may experience a delay in processing.

Understanding Your Award Letter

Student Loan Administration processes applications in chronological order based on the date received. After reviewing and processing your application, we will send you an award letter by email. The letter will list the amount(s) you have been offered and the quarters in which the funds will be available to you. Please refer to the Application Processing Timeline above for details on when letters are emailed.

Accepting Your Awards Online

The award letter outlines your financial assistance for this academic year. Student Loan Administration requires that you accept, decline and/or reduce the amount of your award. You may accept, decline and/or reduce your award in your portal at my.UChicago.edu, with a few exceptions.

You can Accept/Decline your total FWS award online.  However, if you would like to accept a reduced amount of your FWS award; send an email including the total amount of FWS that you would like to request to student-loans@uchicago.edu. If you would like to convert your FWS eligibility to a Federal Direct PLUS (Grad PLUS) Loan; decline the entire FWS award in my.UChicago and include the amount in your request for a GradPLUS Loan. 

Students cannot accept their GradPLUS Loan eligibility in my.UChicago. You may, however, decline your GradPLUS eligibility if you choose not to borrow this loan.  Students who wish to apply for the GradPLUS loan must complete the Federal Direct PLUS Loan Application at studentloans.gov after you receive your financial aid award letter. New Grad PLUS loan borrowers must also complete the Federal Direct PLUS loan Master Promissory Note (MPN) and entrance counseling.  Once we receive your completed and approved Federal Direct PLUS Application, we will accept the loan on your behalf. 

Your financial aid cannot be processed until you have either accepted or declined your award(s).  

Receipt of Additional Assistance

It is your responsibility to report any additional assistance (grants, tuition assistance, scholarships, or outside sources, etc.) you will receive, that isn’t listed on your award letter, to the Student Loan Administration. You may report this assistance in your my.UChicago portal. We may need to adjust your financial aid award based on the aid reported.

Receiving Your Funds

Loan funds are disbursed, at the beginning of each quarter, equally over the three or four quarters in which you will enroll. Work-study funds are earned and delivered via a payroll check. Learn more.

Tuition Bill

You will receive an advance tuition bill from the Bursar’s Office four to six weeks prior to the beginning of each quarter. This advance tuition bill will include estimated charges for tuition, fees, medical insurance, and room and board (if applicable). It will also include credits for deposits paid, scholarships awarded by your division or professional school, credits for the Ten-Month and Eight-Month payment plans, and loans for which you have accepted in My. UChicago.Learn more.

Refunds to Cover Expenses

The Bursar’s Office will generate a refund when loan funds applied to your tuition account exceed your costs. These funds are generally available during the first week of the quarter, provided you are enrolled at least half-time (200 units or equivalent).  Funds received after the quarter begins will be applied to your tuition account as they arrive.  Please visit the Bursar’s website for more information.