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 actions, 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 6, 2018||Early May through June|
|Entering/New Students||On or before May 4, 2018||Early June through July|
|Continuing/Returning Students||On or before June 29, 2018||Early August through September|
Please allow 2-4 weeks for requests for revisions to your financial aid award letter.
Understanding Your Award Letter
Financial Aid 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. Financial Aid requires that you either 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.
There are 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, please send an email including the total amount of FWS that you would like to request to firstname.lastname@example.org. If you would like to convert your FWS eligibility to a Federal Direct PLUS (Grad PLUS) Loan, please 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, outside sources, etc.) you will receive that aren’t listed on your award letter to Financial Aid. 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 equally at the beginning of each quarter over the three or four quarters in which you enroll. Work-Study funds are earned and delivered via a payroll check. Learn more.
You can view tuition billing dates and information the Bursar's website.
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.