How funds are processed
Once a student is enrolled in at least 1 credit hour, scholarships are credited to his or her account. Scholarship funds pay the student’s outstanding and current charges. After these charges are paid, the student receives a refund of any credit balance.
Scholarships are credited to the students account per your instructions. Please indicate in your documentation with the scholarship check how we are to credit the funds: academic year (fall and spring evenly split), fall only, spring only, or summer only. If you do not indicate a how we are to credit the funds, IU Bloomington will pay awards of $999 or less in the fall semester. Awards of $1,000 or more will be disbursed half in the fall and half in the spring. Awards received after a term has ended will be posted to the student’s next active fall or spring term, unless you specify otherwise.
If a student receives a private scholarship, the amount of need-based financial assistance previously awarded by IU may be reduced or be subject to repayment in accordance with federal regulations.
Due to the volume of external scholarships, we cannot guarantee full compliance with any limitations you place on scholarship funds. Scholarship funds processed by Student Central cannot be restricted to pay specific fees. If you wish to restrict scholarship funds to tuition only, call us and we may be able to help. We recommend that you make arrangements with us before the fund submission deadline (see “When to submit funds”).
How refunds are processed
If a student withdraws before the end of the first week of classes, funding is removed from the student’s account and returned to you. If a student withdraws after that date, you are responsible for collecting any disbursed scholarship funds directly from the student.
Non-disbursed scholarships are generally reviewed and refunded to donors following the end of the first week of classes each semester. You or your student may contact us to request that funds be returned earlier than this deadline.
The initial refund process may take up to 10 business days to complete. Refund checks may take up to six weeks to reach you. Contact us if you have not received a refund check within the normal six-week processing time.
How to get more information about your student
Contact the student directly to get the following information:
- Disclosure of estimated cost of attendance, financial need, and other financial aid
- Verification of actual costs of attendance
- Confirmation of continued enrollment or academic progress
- Evaluation of academic performance