Financial Aid Notice

Financial Aid Notice

Guide to receiving your financial aid

Once Indiana University has reviewed your Free Application for Federal Student Aid (FAFSA), you will receive an email inviting you to view your aid. Then, get to know this guide to receiving, understanding, and maintaining your financial aid.

Understanding financial aid

Financial aid will automatically apply to your tuition, fees, and housing charges. In general, half of your aid will be available for the fall semester and half for the spring semester.

All funds, with the exception of federal work-study, will be credited to your student account before classes begin. Any excess funds will be refunded to you, usually the week before the semester starts. To ensure that you receive your refund, please set up direct deposit in One.IU.

Words to know

  • COA stands for “cost of attendance,” which includes tuition, mandatory fees, housing, and other expenses. See ours at go.iu.edu/COA.
  • EFC stands for “expected family contribution.” Calculated from your FAFSA, it’s used by IU to determine your eligibility for certain types of aid.
  • Financial aid refers to different ways to access money to pay for college. Scholarships, grants, loans, and work-study are all types of financial aid.
  • Flat-rate tuition means students can enroll in a minimum of 12 credits per semester and up to 40 credit hours across fall, spring, and our August and winter intersessions—all for the same cost.
  • Gift aid refers to money that does not need to be repaid, such as grants and scholarships.
  • Grants are awards that are often based on financial need and do not need to be repaid.
  • Loans are money borrowed to pay for education costs. They must be repaid.
  • Net cost refers to the amount you will need to pay with your own money or loans, after scholarships or grants have been subtracted from the COA.
  • Scholarships are financial awards based on academic merit or other factors. They do not need to be repaid and are often renewable.
  • Self-help aid refers to student employment and loans.
  • Student employment refers to working in a part-time position while enrolled in classes.
  • Work-study, a need-based federal student aid program, is one type of student employment.

 

Make the most of your funds

  • File your FAFSA by April 15. You must file every year to maintain your financial aid eligibility.
  • Search for scholarships. Visit the Scholarships website to explore opportunities.
  • Take advantage of flat-rate tuition. Enroll in a minimum of 12 credits per semester and up to 40 credit hours across fall, spring, and our August and winter intersessions—all for the same cost.
  • Get a job on campus. All campus jobs pay at least $10 an hour.
  • Use what you’ve paid for. Your IU fees cover health services, recreational sports facilities, bus service, tech support, and more.
  • Be MoneySmart. Visit MoneySmarts for tips on managing your money at IU and beyond.

Keeping your aid

Maintain satisfactory academic progress. We’ll review your academic progress each year. To maintain satisfactory academic progress, you must:

  • Maintain a cumulative program GPA of no less than the graduation requirements for your academic program.
  • Complete no less than 67 percent of your total attempted courses. If you receive a grade of W, F, FX, or I, you have not successfully completed that course.
  • Complete your degree within 150 percent of the published credit hour length of your academic program. (Once you’ve attempted 125 percent, we’ll ask you to outline your plans for graduation to make sure you’re on the right track.)

Monitor your aid. The following factors may affect your financial aid:

Verification We are required by the U.S. Department of Education to verify the accuracy of FAFSA data. If you are selected for verification, you must submit tax information and other documents, which may result in changes to your financial aid.

Course Enrollment We’ll monitor your enrollment during the academic year. If you are enrolled in fewer than 12 credit hours, your financial aid may be reduced. Note that you may only receive financial aid for courses that satisfy your academic objectives.

Special Circumstances Contact us if your financial circumstances change due to unemployment, divorce, death in the family, or other event. We may be able to reassess your financial aid eligibility.

We’re here to help.

Get answers about financial aid, your student account, and more by contacting our office.