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Office of Financial Aid

Office of Financial Aid home page
Week of February 9, 2009

Chicago Kent and Stuart Scholarship Update

Chicago Kent

Chicago Kent Scholarships for all eligible students should already be posted to tuition accounts. If you are registered for less than 12 credits your scholarship will not be applied to your account until after the Office of Admission verifies your eligibility. We understand that the majority of student affected by this are graduating students and therefore we are expediting the process to ensure that your scholarship funds are disbursed as soon as possible. We should have your scholarship verified and posted to account early this week.

Scholarships for all eligible Honors and Full tuition scholarship recipients have been posted to tuition account based on your enrollment as of January 12th. Your scholarship will not be adjusted to reflect actual enrollment until after the drop add date.

Stuart School

Stuart Graduate School of business scholarships will not be posted to tuition accounts within the next week.

Spring Disbursement Process: Step-by-Step

All loan funds, federal and private, are sent directly to the school according to the disbursement schedule listed below.

1. When we receive the funds, we must verify that you are eligible to receive the funds. This process takes 1-3 business days. When the funds are released

2. The funds are then credited to your tuition account. You will receive an email from the Bursar's Office informing you that billing activity has occurred.

3. If a credit balance exists after the funds have been credited, the Bursar's Office generates a refund check for you. This process takes 5-7 business days.

4. The Bursar's Office will then notify you when the check is ready to be picked up.

If you have any questions regarding the financial aid funds that have been credited to your account, please contact the Office of Financial Aid.

If you have any questions regarding the status of your refund check or charges on your account, please contact the Bursar's Office at 312-906-5160

Spring 2009 Disbursement Schedule

Law Students

Disbursement: January 12, 2009

Business Students & MPA Students

Disbursement: January 20, 2009

2009-2010 FAFSA Application Available

The 2009-2010 FAFSA appliation is available for completion. The priority deadline is March 15th.

Spring Financial Aid Reminder

If you need financial aid for the spring term, and you have not completed your 2008-2009 FAFSA, please complete it as soon as possible. The financial aid process can take 4-6 weeks from start to finish. The process can take even longer if there are complications or if Department of Education selects your file for some form of verification.

Once you receive your financial aid award and you want to receive financial aid for the 2008-2009 academic year you must use your myIIT account to accept your loans. Please be aware that if you do not accept your loans our office will not process your loans which can delay the receipt of your refund check as welll.

If you received a Federal Stafford or Graduate Plus loan last year and you do not want to change lenders you do not need to complete a new master promissory note. Once you accept your loans for 2008-2009 our office will process your aid using the promissory note on file from last year

Attention Fall Graduates: Federal Loan Exit Counseling

Congratulations on your up coming graduation! Federal regulations require that all students who have borrowed Federal Stafford Loans while attending the IIT Downtown Campus complete federal loan exit counseling. Please follow the link and complete the online Federal Loan Entrance Counseling Session.

If you would like to see the aggregate loan totals, lender contact info, and interest rate information please follow the link and login to the National Student Loan Database System.  All you need to log in is your FAFSA pin number.

Using the myIIT Portal to view your Award

For Information and instruction about logginf into the myIIT oirtal to view your 2008-2009 financial aid award please click here.


Refund checks are generated by the Bursar's Office and are available to be picked up at their office (Room 290) approximately 5-7 business days after a credit has resulted in a student's account.

The Bursar's Office will send the student an email when a refund check is available.

Free Credit Report

Did you know that you are now able to receive a free credit report once every 12 months? We encourage students to review their credit reports annually to check for inaccuracies and identify any suspicious activity.

To receive your free credit report, please visit the following link: This central site allows you to request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.

Please be aware that other sites may advertise free credit reports, but this is the only site that is sponsored by the federal government and the three nationwide credit reporting agencies. Other sites may charge fees.

Office Hours - Suite #230

Monday-Thursday ~ 8:30 a.m. to 6:00 p.m.

Friday ~ 8:30 a.m. to 4:30 p.m

Phone: (312) 906-5180 - Fax: (312) 906-5274



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