Financial Aid Refunds and Stipend Distribution

Financial Aid Refunds



  • Students registered at least 1/2 time in a degree-seeking program.
  • Credits that exceed the cost of tuition, fees, and other charges associated with registration.

Types of Refunds

  • Federal loans
  • Private loans
  • Institutional Student Loans
  • Qualified Scholarships
  • Parent Plus Loans- refunds are sent directly to the parent borrower. To authorize parent plus loan refunds to be sent to the student, parents must give consent by contacting College Aid.
  • Cash Refunds - are not automatically generated at the start of the quarter. Students may request a cash refund by submitting by one of the following:
  • Electronic Request Form
  • Email
  • Phone 773.702.8000
  • Refunds generated by cash payments may be held up to 14 days to ensure that the funds have cleared.

Refund delivery dates are dependent on the disbursement of your funds.  Please check with you financial aid office for specific disbursement dates and eligibility criteria.

Note:  Refunds may be generated based on adjustments to tuition, fees, financial aid, scholarships, payments and other charges throughout the quarter.

How to Receive your Financial Aid Refund

The most efficient method of receiving a refund is by Direct Deposit. The university offers a service by which students may elect to have their refunds deposited directly to a U.S. checking or savings bank account.

To enroll in direct deposit, follow these 4 quick and easy steps:

  1. Access your myUChicago
  2. Click on the Finances Tab
  3. Go to My Account
  4. Follow the prompts for Direct Deposit

Note:  Students not enrolled in direct deposit, will be mailed a paper check to their current physical address on myUChicago.  If a current address is not available, refunds are mailed to students' Home/Permanent address.

Stipend Distribution

Students who are eligible may receive a quarterly Stipend Distribution from their Academic Division.  The method of your Stipend Distribution depends on your citizenship status.

Domestic Citizens/Residents stipend distribution options:

  • Direct Deposit
  • Paper check

International/Non-Residents stipend distribution options:

  • Workday - UChicago Payroll Direct Deposit
  • Workday Payroll Direct deposit enrollment information is sent to students' UChicago email.
  • If students do not enroll in Workday, a paper check can be picked up in the academic department.
  • Stipend delivery dates are dependent on the disbursement of your funds.  Please check with your Financial Aid Office for specific disbursement dates and eligibility criteria.