Payment of Financial Aid Awards

As explained in the award notification, your financial aid (except Federal Work Study) will be applied as a direct payment to your charges of tuition and room and board. One-half of the value of your award will be credited to your account for each semester and will appear on the e-bill sent to you in July and November. Federal regulations allow financial aid to be automatically credited to a student's tuition and fees and room and board charges. Permission to credit aid for any other charges is gathered at the time the student applicant completes the university aid application. However, the student has the right to rescind this permission at any time by contacting the financial aid office. Guidelines governing refunds for students who withdraw from classes or from the university are outlined in the university catalog and the UIndy refund policy brochure (for the current academic year) as well as the UIndy summer refund policy.

For federal work study students:  If employed, students will receive payment for hours worked every other week through direct deposit. 

For students who have credited aid that exceeds charges, a refund will be released to BankMobile on the first day a student begins classes.  Students must select a refund option in order to receive a refund (see information below).  After the first day of classes, refunds are disbursed each Friday for students whose account shows a credit balance by the previous Wednesday.  Some special assistance programs require a delay in refund processing until after the 100% refund period has passed.  Students who are paying university charges through one of UIndy's payment plans are not eligible to receive any credit balance refunds until the payment plan contract is paid in full and the University has received all payments.

Want more information about BankMobile Disbursements and your refund options?

UIndy delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. For more information, visit this link: bankmobiledisbursements.com/refundchoices.