Financial Aid Disbursement and Direct Deposit

Financial Aid Disbursement

Disbursement is the ‘financial aid’ word for crediting aid to your student account. The aid will apply to your tuition and fee charges. To see the earliest date this could occur, go to your Student Center Links to an external site., and click ‘View Financial Aid.’ Toward the bottom of the page, you’ll see the aid by term (spring and fall) with links for ‘View Scheduled Disbursement Dates.’ The date you see is the earliest your aid could credit, but if you haven’t completed all the items on your to-do list, it might take longer.

IU Columbus disburses aid at the earliest ten days before the start of the term.

Action item: Set up direct deposit

Any financial aid money that is left over after your charges are covered will be automatically refunded to you. You can use this refund to pay for books, supplies, or other educational expenses. We strongly encourage you to consider signing up to receive your refund via direct deposit. With direct deposit, your refund will be transferred electronically to your bank account. Direct deposit is the quickest, safest, and most secure way to receive your refund. 

Sign up for direct deposit on One.IU. Links to an external site. Be aware that if you receive a financial aid refund but later drop classes or withdraw, you may be required to return or repay the refund.

If you do not have enough financial aid to cover all of your charges, you’ll receive a bill for the difference.

For more detailed instructions on setting up direct deposit, check out this video.

Setting up direct deposit in One.IU

• Video length: 2:21
• Transcript:  Setting up direct deposit in One.IU Download Transcript:  Setting up direct deposit in One.IU