11. Disbursement of Financial Aid, Payment of Charges, Late Fees, and Refunds

The Office of the Bursar disburses aid (scholarships and loans) to the student account equally over the period of enrollment, as reflected on the Financial Aid Award Notice. Therefore, the billing statement will reflect scholarship and loan credits for the quarter.

The Office of the Bursar delivers bills electronically, viewable via myUChicago Portal. That office will send an email notice to the student’s university email address when each new bill is posted online. However, the bill itself is not sent via email.

The first billing statement of each quarter reflects the scholarships awarded and the loan funds the student is expected to receive for the quarter. The purpose of showing these anticipated credits is to allow the student to determine how much is owed for the quarter beyond financial aid. However, the presence of loan credits does not mean that the loan process has been completed for each of the relevant loans.

Anticipated loan credits are removed from the student account automatically when the actual loan funds are applied. These will also be removed if the student fails to complete the application process in a timely manner. The Office of the Bursar may assess a late payment fee when the anticipated loan credits are removed and no actual loan funds are available to replace those.

If the student financial aid funds disbursed are greater than the charges assessed on a student’s account, the student is eligible for a refund to cover living and other education-related expenses. Refunds will be sent either via the U.S. postal system or directly to the bank selected by the student, if direct deposit has been set up.

Refunds will become available a few days prior to the start of each quarter for those who have no outstanding financial aid issues. Students who have outstanding financial aid issues, like incomplete loan applications or entrance interviews not completed, will have to wait until those are resolved before receiving their refunds.


Federal Work-Study Fund Disbursal

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

If your Federal Work-Study begins in 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 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). Please consult our Federal Work-Study page for more details about this program.

Federal Work-Study is disbursed to you via a paycheck and is not paid directly to your account in the Office of the Bursar.

Loan Disbursal

Federal Direct Stafford and Direct GradPLUS loans are sent directly from the Federal 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. 

Billing Information for Those Receiving Post-9/11 GI Bill Benefits

Once The University of Chicago submits the enrollment certification to the VA, that agency will process the certification and issue payment to the University. The VA does not provide a timeline for payment so those who have questions regarding the timing of payments should contact the GI Bill hotline at 888-GIBILL1 (1-888-442-4551).

Tuition and fee payments will be issued directly to The University of Chicago and will be credited to the student account. The amount of tuition and fees that will be paid is determined by the VA and may not cover the full cost of tuition and fees.

The Financial Aid Office will place an "anticipated credit" on the student account for the portion of the tuition and fees that will be received by the VA until tuition and fee payments are received. Thus the veteran will not be required to pay the funds expected from the VA and will not be issued late fees for that amount.

The anticipated credit is the sum the University expects the veteran to receive in a tuition and fee payment based on the certificate of eligibility and enrollment for the academic term. If the actual payment received by the VA is less than the sum estimated for the anticipated credit, the veteran will be responsible for paying the difference out of pocket or through financial aid, including loans.

Yellow Ribbon payments from the VA (if the student is eligible) will be issued directly to The University of Chicago and will be credited to the student account.



Students 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 eligibility, 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.