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.
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 from federal, state, or local sources. They 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. Possible loan sources include the federal government or private lenders.
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.
SAI stands for Student Aid Index. Calculated from your FASFA, it is used to determine your eligibility for different types of aid.
Student employment refers to working in a part-time position while enrolled in classes.
Work-study: Federal Work-Study is a form of student employment for students with financial need. Earnings are paid directly to the student.

Making the right choice

You will receive an email inviting you to view your aid, which will list your awards per term.

Review your options

Have “the money talk” with your family. How will you pay for college: College savings plan? Tuition payment plan? Part-time employment? Student loans?

If you plan to use student loans, consider borrowing only what you need for education, housing, and modest living expenses.

Evaluate your potential career in relation to the cost it will take to get there:

Research the typical starting income for your career choice and, if possible, borrow no more than your estimated first year’s salary.
Calculate future loan payments with the Loan Simulator at studentaid.gov.
Project a post-college budget that includes monthly payments on loan debt.
Plan to live frugally after graduation, so you can make extra loan payments each month and eliminate your debt more quickly.

Respond to your financial aid

Once you receive your email inviting you to view your aid, follow the steps below to respond:

Log in to One.IU with your IU username and passphrase.
- Search for your To Do List.
- Complete items on the list as soon as possible.
Find your Student Center in One.IU.
- Accept, reduce, or decline any student loans.
- Accept your work-study award, if you were offered one, and plan to find a job on campus. If you were awarded work-study, find a part-time job on the Career Development Center's Student Employment page. If you are not intereted, you can decline the award.
Visit studentaid.gov.
- If you’re borrowing a Federal Direct Loan, complete:
  - Annual Student Loan Acknowledgment
  - Master Promissory Note (MPN)
  - Entrance counseling
- Your parent may apply for a Federal Direct Parent PLUS Loan and sign the PLUS MPN.

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. Enhance your marketable career skills through work experience. go.iu.edu/studentjobs
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 135 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.