Receiving Your Funds

How Federal Perkins Loans Are Disbursed

Your Federal Perkins Loan is credited directly to your tuition account on the first day of the quarter, assuming you have completed the required forms. See Federal Perkins Loans for more details.

How Federal Work-Study Funds Are Delivered To You

Once you obtain a work-study job, you will need to have your work-study employer complete an Employer Authorization Form.  Please email studentemployment@uchicago.edu if you have questions about the Employer Authorization form or questions on how and when your payroll check will be delivered.

If your Federal Work-Study begins with the Summer quarter (as indicated on your award letter), you may begin work as early as the first day of the Summer quarter, and continue through the last day of the quarter. If your Federal Work-Study begins with the Autumn quarter, you may start to work as early as the first day of the quarter, and continue through the last day of the Spring quarter (or you cease enrollment for the year, whichever comes first). See Federal Work-Study for more details about this program.

How Federal Direct Stafford, Direct GradPLUS, and Alternative Loan Funds Are Disbursed

Federal Direct Stafford and Direct GradPLUS loans are sent direct from the government to the University and applied to your tuition account one week before the start of each quarter. Most Alternative Loan funds are sent to the University via an electronic disbursement method and applied to your tuition account; however, some lenders still issue funds by paper check. If your funds arrive by paper check, you must pick up your check at Student Loan Administration and take it to the University’s Maroon Financial Credit Union and have it applied to your tuition account.

Refunds

Students will receive a refund when financial aid disbursements exceed tuition and fee charges for the quarter. Tuition and fees as well as financial aid disbursements can fluctuate for a variety of reasons (change in enrollment, change in federal aid eligility, etc.).  Confirm your refund is correct before expending any funds.  Students are encouraged to sign up for Direct Deposit. Learn more about signing up for direct deposit and receiving your refund here.