Office of Student Financial Assistance

Summer Financial Aid

Eligibility Requirements

• The Office of Student Financial Assistance will begin packaging students with Summer Aid in April
• For 2011 Summer financial aid, students must have a valid Free Application for Federal Student Aid (FAFSA) for the 2010-2011 academic year on file prior to June 30, 2011. The FAFSA may be completed online at www.fafsa.ed.gov.
• Students who are planning to use CVO (Child of Veteran or Public Safety Officer) eligibility for the summer must have a valid FAFSA for the 2011-2012 academic year on file prior to June 30, 2011.
• Kelley Direct Graduate students must be enrolled in a total of at least three credit hours during the summer to receive summer aid.
• Kelley Direct Thunderbird Graduate students must be enrolled in a total of at least four credit hours during the summer to receive summer aid.
• Students must be meeting satisfactory academic progress as defined by the Kelley Direct program in order to be considered for summer aid.

AVAILABILITY OF SUMMER AID

• Students who received Federal Stafford Loans up to their full annual eligibility during the previous academic year semesters are not eligible for Federal Stafford Loans in the summer. Borrower eligibility for Federal Stafford loans will begin again the following academic year.
• For most students, summer aid consists of Federal Graduate PLUS Loans and/or private students loans. More information about these loans, along with details about the application process can be found at www.indiana.edu/~sfa/types/loans.html.
• Any change in enrollment could result in a change to your financial aid eligibility. Decreases in enrolled credit hours, non-attendance in a class, or a total or unofficial withdrawal from summer classes may result in changes to your aid. You may lose eligibility for aid you've already received, including returning funds already received. We may also cancel any pending disbursements, and/or deny the processing of any new loan requests.

Financial Aid: Applying & Eligibility

Kelley Direct students interested in receiving federal financial aid in the form of student loans must complete the FAFSA (Free Application for Federal Student Aid). The IU Bloomington school code is 001809. Students are encouraged to complete the FAFSA by March 10^th of each year to be considered for the maximum financial aid eligibility.

In order to be eligible for student loans at IU Bloomington, a Kelley Direct student must:

• Have a high school diploma or GED;
• Be a US citizen or eligible noncitizen;
• Have a valid Social Security Number;
• Register with Selective Service, if required;
• Not be in default or owe an overpayment on previous federal aid or have borrowed over student loan limits;
• Not have had federal aid suspended due to a drug conviction;
• Be admitted to an IU Bloomington degree program;
• Maintain satisfactory academic progress (SAP)as defined by the Kelley Direct program; and
• Be working at least half-time towards a degree
• Kelley Direct students must be enrolled in at least 3 credit hours per term to qualify as half-time.
• Kelley Direct Thunderbird students must be enrolled in at least 4 credit hours per term to qualify as half-time

Fall Semester Admits

January 1, 2011

• The Free Application for Federal Student Aid (FAFSA) becomes available at www.fafsa.ed.gov. The IU Bloomington priority filing date is March 10, 2011. The FAFSA should be filed by this date to ensure that you are considered an on-time applicant. Because of limited funding some aid sources will not be available if the FAFSA is not on-time. Use estimated information if you have not yet filed your taxes.

Mid July 2011

• Report any outside aid you expect to receive to our office using the Reporting Other Awards form.
• Financial Aid Awarded; you will receive an email once you have been awarded. Check your awards through your Self-Service tab on OneStart. Make sure your Award Summary lists all outside awards you expect to receive. You may also reduce or cancel awards via OneStart.

Late July 2011

• New Federal Direct Stafford Loan and Federal Direct Graduate PLUS Loan borrowers will receive an email with instructions on how to complete the online Master Promissory Note.
• New Federal Direct Stafford Loan and Federal Direct Graduate PLUS Loan borrowers will receive an email with instructions on how to complete online Entrance Counseling.

August/September 2011

• Bursar bill for fall tuition and fees is due. Visit our Consumer Information section for information about Paying IU Charges with Federal Aid.

Spring Semester Admits

January 1, 2011

• The Free Application for Federal Student Aid (FAFSA) becomes available at www.fafsa.ed.gov. The IU Bloomington priority filing date is March 10, 2011. The FAFSA should be filed by this date to ensure that you are considered an on-time applicant. Because of limited funding some aid sources will not be available if the FAFSA is not on-time. Use estimated information if you have not yet filed your taxes.

Late September 2011

• Report any outside aid you expect to receive to our office using the Reporting Other Awards form.
• Financial Aid Awarding will take place. You will receive an email once you have been awarded. Check your awards through your Self-Service tab on OneStart. Make sure your Award Summary lists all outside awards you expect to receive. You may also reduce or cancel awards via OneStart.

Mid October 2011

• New Federal Direct Stafford Loan and Federal Direct Graduate PLUS Loan borrowers will receive an email with instructions on how to complete the online Master Promissory Note.
• New Federal Direct Stafford Loan and Federal Direct Graduate PLUS Loan borrowers will receive an email with instructions on how to complete online Entrance Counseling.

December 2011

• Bursar bill for fall tuition and fees is due prior to the start of classes. Visit our Consumer Information section for information about Paying IU Charges with Federal Aid.

Details

• A private loan's interest rate is dependent upon the credit rating of the borrower, and if applicable, the credit rating of the co-borrower.
• A private loan is unsubsidized, meaning that interest begins accruing immediately upon the loan's first disbursement.
• To be eligible, the borrower must::
• be enrolled at least halftime
• meet lender-specified credit requirements, and
• meet school-specified eligibility requirements (including satisfactory academic progress).
• Check with your lender about fees, grace periods, deferment options, and repayment options.
• A private loan may be processed without a Free Application for Federal Student Aid (FAFSA) on file, if the student never plans to file. If, however, a student files a FAFSA (or indicates he/she plans to file), we will wait to certify the private loan until the student's federal financial aid eligibility is reviewed.
• A private loan may be processed for up to the amount of the Cost of Attendance, minus any aid the student is receiving.

An available resource to help in the selection of lenders is the Private Student Loan Comparison Chart offered by www.FinAid.org.

Student Services

• Consumer Information
• Office of the Bursar
• Office of International Services
• Kelley Direct Programs
• Office of the Registrar
• Scholarships for Kelley Direct Students
• Veterans Support Services