Fall 2014 Aid Disbursement, Higher One, and Residual Funds

Once the Student Financial Aid Office completes a review of your eligibility, we will electronically disburse all available financial aid funds to the Bursar's Office. The Bursar's Office will then post that aid to your account. Our office will begin disbursing fall aid to the Bursar's Office for undergraduate and graduate students on August 20th.

The University of Louisville uses the company Higher One to deliver all residual funds to students. With Higher One, you can request your residual funds go into a free Higher One checking account with a debit card or direct deposit to your personal bank account.  The first electronic file of residual funds from the August 20th disbursement is scheduled to be sent to Higher One by August 21st. Students will receive an email from HigherOne confirming the availability of their residual funds.

For more information about Part-Time enrollment, Financial Aid Advances and other important information about the start of the fall semester review the Student Financial Aid fall newsletter(Link).


Important Notice of Office Hours (September 5th)

On Friday, September 5th, the Student Financial Aid Office will be closed from 9 am until 12:45 pm.


***Critical Update on CardMail forwarding issue ***

Due to an issue with Microsoft's anti-spam and anti-malware email application, students who use the mail forwarding feature in CardMail may have had messages rejected that were sent on or after July 8. To ensure the successful delivery of emails in the future, please turn off mail forwarding.

The IRS Data Retrieval and other steps to be sure you have a completed FAFSA application

While completing the online FAFSA (www.fafsa.gov) many individuals may have used estimated information.  If you have now completed a Federal income tax return you are asked to log back into your FAFSA application and update your information using the IRS Data Retrieval Tool.  The IRS Data Retrieval Tool automatically imports official IRS tax information on your 2014-2015 FAFSA and should be available within 1-2 weeks of filing your taxes electronically or within 6-8 weeks if you filed a paper return.

Consider reviewing the following website http://louisville.edu/financialaid/how-to-apply/irs-data-retrieval.html for step by step instructions of how complete the IRS Data Retrieval.

In some cases the U.S. Department of Education requires the university to collect additional information from a student. Students may be selected for a process called “verification” or the university may need to resolve conflicting information reported on the FAFSA.  In most cases, the requested documents will be available on your ULink To Do List.   Complete and submit these requested forms as soon as possible so that the university can review your eligibility for financial aid.


Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013

If you are a first-time borrower on or after July 1, 2013, please familiarize yourself with the new federal regulations regarding a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans.  In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program of study.  For more information, please review the U.S. Department of Education’s Federal Student Aid announcement concerning this time limitation.

Important Dates

    •  July 30th: Last day to complete the Summer Aid Request form online
    • August 12th: Summer term ends
    • August 20th: First disbursement for undergraduates and graduates
    • August 21st: Advances made available after 2:00 p.m.
    • August 25th: Fall 2014 classes begin
    • August 29th: Last day to add/drop with 100% tuition credit
    • August 29th: Bills due (when initial registration was after July 3rd
    • September 1st: Office Closed (Labor Day)

See all past Important Dates