Award Terms and Regulations 

The Financial Aid Office has the right to adjust your award at any time due to changes in your financial, academic, enrollment or housing status. 

Awards offered from State and Federal programs are contingent upon legislative allocation of funds and maximum limits allowed. 

You must report any assistance you receive from outside sources, including your employer assistance, to the Financial Aid Office. 

Students must be enrolled in at least 12 credit hours per semester to receive Institutional money. Students must be enrolled in at least 6 credit hours per semester to be eligible for student loans.

There is no aid for the Winterim sessions. 

There is no institutional aid for Summer sessions, only loans if you are enrolled at least 1/2 time.

You are eligible for Institutional financial aid for up to eight semesters including semesters taken before transferring to the University (i.e. if you transfer in as a junior, you will receive 4 semesters of institutional aid). This means that if you continue into a fifth year of classes, you will not be eligible for any Institutional funds you may have received previously. (Institutional funds are those awarded by the University, not State, Federal, or Outside based scholarships or grants)

All financial aid awards, including loans, are disbursed in two disbursements. One for the Fall term and one for the Spring term. If you are a first time borrower, there is a 30 day hold on your first disbursement. Once the loan funds have been applied to your account, if you have awards in excess of your costs, you may be due to receive a refund. Any other questions regarding your financial aid should be directed to the Financial Aid Office. 

If you are receiving assistance under the University Work Program, you must understand that the amount shown on your award letter is the amount we expect you to earn during the course of the academic year if you work all of your allotted hours. Any additional earnings must be approved by your department supervisor and must be taken into consideration in your financial award package. 

Remember: FAFSA forms must be filed every year. 

To be considered for Iowa Tuition Grant, the filing deadline is July 1st. 

The St. Ambrose priority deadline is March 15th for some Institutional funds. 

What Happens if I Withdraw or Need to Drop a Class? 
If you drop a class, it may affect the amount of aid you can receive. It is very important to visit your Financial Aid Counselor if you are planning on dropping a class.

If you are going to withdraw completely from all your classes, your financial aid awards will be prorated according to the amount of time you were actually enrolled. It is possible that you may end up owing the University for a portion of your expenses incurred. 

A detail of this policy is located in the University catalog. 

Please contact your Financial Aid Counselor if you are considering dropping classes or withdrawing from the University.