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 work-study payroll forms. Please go to my.uchicago.edu, on approximately one week prior to the beginning of the quarter and you will be prompted with additional instructions.  Please contact Student Operations by calling (773) 702-7041, if you have questions about the work-study payroll forms 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. 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.

IMPORTANT: Student Loan Administration must return any loan funds that cannot be disbursed within three days of their receipt. Therefore, if you are not registered within the first three days of the quarter or if you have not completed the entrance loan counseling requirement and you have not completed all required forms, your funds will be returned to your lender and you will have to reapply for them. It may then take up to an additional six weeks before we process the new loan and you receive your funds.