Disbursement is the process through which our office distributes aid to Illinois students.
When Is Aid Disbursed?
Even if you’re expecting financial aid or plan to work on campus, you should come to Illinois with sufficient funds to purchase books, supplies, and any other items necessary to begin the semester.
Financial aid is generally disbursed to students' accounts the week prior to the start of classes. This timing allows University Student Financial Services and Cashier Operations (USFSCO) to distribute refunds directly in your bank account by the first day of classes. It generally takes 4-5 days for USFSCO to transfer a refund to a bank account after it has posted on a student account. Further crediting of aid and subsequent refunds are generally processed twice weekly throughout the semester.
Loans can’t be disbursed until we receive and process all required documents. A valid promissory note (agreement to repay the loan) for the specific loan program must be on file. In addition, students borrowing a Federal Direct Loan or a University Loan for the first time on our campus must complete an online entrance counseling session.
Remember, it’s your responsibility to make sure you have completed all of your requirements.
How Is Aid Disbursed?
Unless otherwise noted, all financial aid we award is disbursed in 2 installments. Half of the total award is disbursed each semester and applied toward the charges on your university student account—tuition, fees, university housing, and any other university charges.
Any transaction in which a financial aid credit exceeds your university charges for the term will generate a refund that can be used to pay for other costs associated with your education.
Why Do I Need Direct Deposit?
Authorizing direct deposit of refunds gives you the quickest access to your funds. It’s also safe, confidential, and convenient. With direct deposit, your financial aid refund is electronically transferred into your bank account—usually within 4 to 5 days after financial aid has been credited to your student account.
If you have questions concerning the direct deposit program for student refunds, contact University Student Financial Services and Cashier Operations via email or by calling 217-333-2180.
How Am I Billed?
Once a month, University Student Financial Services and Cashier Operations (USFSCO) emails students and Authorized Payers, reminding them to view their student account for recent activity and to pay any amount due by the due date. Available online for students and Authorized Payers to view and print, the student account includes all student account transactions, including payments received and charges and credits for tuition, fees, and housing.
Payment is due on the 28th of each month. Tuition and fee charges for fall and spring terms are billed in September and February, respectively. Summer term charges are billed in June.