Financial Aid Handbook & Policies
Financial Aid Disbursement and University Billing
Financial aid (except Federal Work-Study, non-electronic private loans, and some private scholarships) will be automatically applied to tuition, fees, room and board charges on your bill each semester. The Billing and Receivables Office sends a monthly notification to the student's WIU email account notifying the student to access STARS to view their bills. Please contact the Billing and Receivables Office at (309) 298-1831 if you have specific questions concerning billing procedures, payment deadlines, etc.
Federal regulations require a review of financial aid eligibility before each disbursement. Items to be reviewed include satisfactory progress, admission program, budget, hours of enrollment (extension, independent study, on-line, graduate, etc.), class level, other sources of aid, etc. Your financial aid eligibility (including loans) could change if you receive other aid after receipt of your award letter.
Refunds for amounts of aid exceeding direct charges (tuition, fees, health insurance, room and board) will be processed by the Billing and Receivables Office when school begins and your enrollment and eligibility has been confirmed. The earliest refund date is three days prior to the start of the semester - contact the Billings and Receivable Office if you have not set up direct deposit of your fund. ALWAYS review your University account balance after receiving a refund - certain miscellaneous charges and past due balances cannot automatically be paid using federal/state aid.
All Federal Direct Student and Direct PLUS loans processed for the full year will be disbursed in two payments: one at the start of the fall term and one at the start of the spring term.
You will be charged a loan origination fee that is a percentage of the principal amount of each loan that you receive. This fee helps reduce the cost of making low-interest loans available. The fee is deducted from the loan amount before it is disbursed to the school. This fee applies to student as well as PLUS loans.