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Receive Your Refund

The basics of financial aid refunds

After your financial aid is used to pay eligible IU charges such as tuition, fees, and room and board, you’ll get a refund of any remaining money. (Refunds on Parent PLUS loans will be sent to your parent unless he or she chose the option to send refunds to you when applying for the loan.) You don’t need to request a refund—they’re processed automatically.

We usually send out refunds several days before the start of a term. Check One.IU to see if you’re due a refund.

Note that if you get a refund but later drop classes or withdraw from IU, you may be required to repay the refund amount.

How to get your refund

Direct deposit is the quickest and safest way to receive your refund. We’ll transfer the refund amount directly to your bank account.

Set up direct deposit for your refund