Office of Student Financial Assistance

Financial Aid Application

The Free Application for Federal Student Aid (FAFSA) is the application for most types of financial aid processed through our office. Be sure to complete the FAFSA by March 10 of each year to be considered for the maximum amount of financial aid. Completing the FAFSA later than March 10 can cause delays in financial aid processing and, since some awards are limited, may limit the financial aid a student will receive.

You will need the following information to complete the FAFSA:

To view a tutorial of how to complete the FAFSA visit 7 Easy Steps to the FAFSA

Dependency Status

A student’s dependency status is determined by a group of dependency questions on the FAFSA. If a student cannot answer “yes” to any one of the Dependency questions on the FAFSA, they are automatically deemed dependent by FAFSA standards and advised to supply parental information on the FAFSA. A student may be reclassified as independent (and thus not required to include parental information on the FAFSA) if our office approves a dependency appeal for that student. A parent’s inability or unwillingness to pay IU costs is not considered sufficient grounds alone to constitute a viable appeal.

• Dependency questions identify if the student is:
• Over the age of 23
• Married
• Has dependents who receive over half of their support from the student
• Veteran or Active Military
• In a legal guardianship
• Homeless or at risk of becoming homeless
• Emancipated minor
• In foster care or orphan ward of the court

Students who answer “yes” to any one of the Dependency questions may be asked to verify their statement by submitting additional supporting documentation to the Office of Student Financial Assistance.

For more information, visit our Dependency Appeals web page.

Cost of Attendance

Our office estimates a standard Cost of Attendance (or budget) for all undergraduate students based on their residency, level of enrollment (i.e. full-time, half-time, etc.) and in some cases, academic program.

Budgets are determined by adding the appropriate figures for tuition and mandatory fees to estimates for room and board, books and supplies, transportation, and personal (miscellaneous) expenses. These budgets represent the maximum amount of aid students can receive in an academic period.

Undergraduate Students, full-time
(2011-2012 Academic Year)

	Resident	Non-Resident
Tuition & Fees	$9,524	$29,540
Room & Board *	$8,520	$8,520
Total Direct Costs	$18,044	$38,060
Books & Supplies *	$824	$824
Transportation *	$834	$834
Personal *	$2,448	$2,448
Total Cost of Attendance	$22,150	$42,166

*These are averages and actual costs can vary by student based on student choice and travel habits.

Affordability. Value. Excellence at IU

Net Price Calculator for Indiana University Bloomington

Expected Family Contribution

The Expected Family Contribution (EFC) is a number derived from information submitted on the FAFSA. This calculation takes into account such factors as Adjusted Gross Income, non-taxable income, assets, and household size. The EFC represents the amount that the federal government expects a student’s family should be able to contribute towards the student’s education.

However, the EFC is not a set amount that the family owes to Indiana University or will pay towards the student’s cost of attendance. The EFC is used as an index to help the Financial Aid office determine the types of aid for which a student is eligible and enables us to create a student’s financial aid package.

Most aid that we award is need-based. This means that a student must have an adequate amount of need to receive the aid awarded. Need is calculated by subtracting the Expected Family Contribution from the Cost of Attendance:

   Cost of Attendance
-  Expected Family Contribution
= Need

For more information visit our EFC web page.

Award Notification

Scholarships

Scholarships are a form of financial assistance that do not require repayment and may be awarded based on merit, financial need, or a combination of both merit and need. Although scholarships are listed on a student's financial aid account, the Office of Student Financial Assistance does not award scholarships. Some scholarships are awarded to students on the basis of their admissions information; others require additional application materials.

Information about scholarships is available on the Office of Scholarships web site, www.scholarships.indiana.edu. To search for other scholarships visit our Scholarship Search web page.

Grants

Grants do not have to be repaid. Typically, grants are designated for students with low Expected Family Contributions, as determined by the Free Application for Federal Student Aid (FAFSA). Students who complete the FAFSA are automatically considered for federal, state and IU grant aid.

For more information visit our Grants section.

Loans

A loan is a type of aid that must be repaid. Students and parents both may borrow loans to help cover college costs; loans may be borrowed up to the student's cost of attendance, minus any other aid the student is receiving.

If a FAFSA (Free Application for Federal Student Aid) is completed, our office will consider the student for federal student loans, including the Federal Stafford Loan. The student is required to sign a Master Promissory Note before the loan will be disbursed. This promissory note will give details about the responsibilities a student incurs by agreeing to borrow and repay these loans. The type and amount of loan for which a student is eligible depends on the student's financial need, class level, and previous borrowing history.

Federal Work-Study

Federal Work-Study provides students the opportunity to earn up to $1,500 throughout the academic year by working. Students find their own Work-Study jobs and are paid directly by their employer as they work and earn the money, with a significant share being subsidized by the Federal government. Federal Work Study does not credit the bursar account.

Students are automatically reviewed for Federal Work-Study if they:

1. have exceptional financial need.
2. filed the FAFSA by March 10 and indicated they were interested in Work-Study

Freshmen who are offered the Federal Work-Study award must accept their awards via OneStart. More information will be sent to eligible students after Financial Aid Notifications are mailed.

Even if you are not awarded Work-Study you can still find a job on or near campus. Work-Study jobs and non-work-study jobs are essentially the same as far as the type of work and the rate of pay. However, the federal government pays a portion of the wages for a work-study student. This can be an advantage to the employer who may be able to hire multiple work-study employees for the cost of one non-work-study employee. Visit the Career Development Center site to search for non-work-study employment opportunities.

For more information visit our Federal Work-Study web page.

SATISFACTORY ACADEMIC PROGRESS

Federal regulations require that Indiana University Bloomington establishes a policy to monitor the academic progress of students who apply for and/or receive federal, state, and institutional aid. Students must be making satisfactory academic progress (SAP) towards their academic objective in order to maintain their eligibility for financial aid.

A student that has been determined to not be making satisfactory academic progress will have their aid suspended; we will be unable to award federal, state, or certain forms of institutional aid, or to certify a Federal Parent PLUS Loan. Students in this situation may submit a SAP appeal, and if the appeal is approve their aid will be restored.

Undergraduate students must meet the following requirements in order to maintain satisfactory academic progress:

GPA: A cumulative program GPA of no less than 2.0.

Completion rate: Completion of no less than 75% of cumulative, attempted coursework. Classes in which a student has received grades of W, F, FX, I, R, or NC are not considered to have been successfully completed.

Credit hours for degree objective:

Notes: