Financial aid is money to help pay for college or career school. Whether your goal is finding a career after graduation or continuing on to a four-year university, getting financial aid can help you pay for college now and finish with little to no debt or a more manageable payment plan. Financial aid includes scholarships, grants, work-study, and loans—all of which help make college more affordable.
Attending college can be a big financial decision for you and your family. Finding financial aid can seem overwhelming when you're trying to get ready for college. Ivy Tech's financial aid advisors are here to help you and your family get the money you need to pay for your education.
The federal government's general eligibility requirements include that you have financial need, are a U.S. citizen or eligible noncitizen, and are enrolled in an eligible degree or certificate program. Eligibility requirements for state, institutional, and private aid vary.
Everyone’s financial situation is different. Most students qualify for some form of financial aid. Whether you come from a military family, have stellar grades, or demonstrate financial need, there are loans, grants, and scholarships that are designed to help you achieve your goals.
Most financial aid is awarded on the basis of "need," or the gap between a student’s cost of attendance and the "expected family contribution."
Ivy Tech offers many ways to save on your education including gift aid options such as scholarships, grants, and various fee remissions that you don’t need to pay back.
Scholarships are a form of gift aid—free money—that does not have to be paid back
A work-study job allows you to earn money to pay for school by working part-time on campus
The most important first step you should take when figuring out how to pay for college is to fill out the Free Application for Federal Student Aid, or FAFSA. This form will determine your eligibility for financial assistance like federal loans, grants, work-study benefits, and even some merit aid. The form can be completed online. To maximize your aid opportunities, complete the FAFSA when you apply for admission to the college as some aid is distributed on a first-come, first-served basis. LEARN MORE ABOUT FAFSA START YOUR FAFSA
Check your Ivy Tech student e-mail account for notifications about the required submission of forms. You can also monitor financial aid requirements MyIvy. To do this, log into MyIvy, click on the Tools & Resources tab, then click on Financial AId Requirements. Be sure you turn in all required financial aid forms to prevent delays.
It is not unusual for additional information to be required in order to determine a student's eligibility for aid. This process is known as verification. Students selected for verification will be required to submit documents and financial forms before aid can be processed or disbursed. You will find verification requirements listed on your MyIvy financial aid page. A financial aid application cannot be considered until all documentation requirements are met. How to Submit Documents to the Verification Processing Center
Complete Financial Aid Authorizations by clicking on the Financial Aid tab in MyIvy if you wish to use your grant/loan funds to pay bookstore charges and other college fees.
If a correction was made to your FAFSA during the verification process, we will receive your updated FAFSA within 7 days. Once we have the updated FAFSA, your file will be reviewed again to make sure all information has been updated. This subsequent review will take up to 10 business days. If any additional information is needed after this subsequent review is complete, you will be notified at your Ivy Tech email address.
Once your financial aid has been finalized, an electronic award letter will be sent to your Ivy Tech email address. Subsequent communications regarding your financial aid will come via your MyIvy account and your Ivy Tech e-mail account.
You can view your financial aid award in MyIvy.To do this, log into MyIvy, click on the Tools & Resources tab, then click on Financial Aid Awards. Decide whether you will accept the full amount, partial amounts, or none of the federal and/or alternative loans offered to you. You must accept your loan awards or they will not be processed. If you qualify for the Pell Grant or other scholarships or grants they will automatically be accepted for you.
If you need to increase your requested loan amount, complete a Federal Direct Student Loan Request. Once the request has been submitted to the Financial Aid office, your loan will be re-offered to you (if you are eligible) within 14 days, and you can accept all or a portion of it on MyIvy.
Previously-passed courses (with grades of B-C-D) can be repeated ONCE with financial aid. After one repeat, the course is not covered by financial aid.
You are responsible for monitoring your status, including your academic progress required for federal financial aid. Check your admission, registration, and financial aid status on MyIvy frequently and check for notifications on your Ivy Tech student e-mail account.
Dropping or withdrawing from a class can result in aid adjustments prior to disbursement or the need to return aid funds after disbursement. Students are encouraged to talk with Financial Aid before deciding to drop or withdraw from a class.
The FAFSA is the Free Application for Federal Student Aid and is the only way to apply for federal student aid. Ivy Tech will use your FAFSA application to evaluate your financial need and determine how much federal aid, state aid, and aid from Ivy Tech you are eligible to receive.
Each October, the FAFSA is available for the next school year. You can file as early as October 1. It’s a good idea to submit the application as soon as possible because some financial aid is given out on a first-come, first-served basis.
There are three types of FAFSA deadlines:
