Undergraduate Financial Aid

Understanding undergraduate financial aid

At Indiana University Indianapolis, you will get an out-of-this-world education at a cost that is down to earth. We are committed to keeping your out-of-pocket costs low — in fact, the tuition you will pay here is among the lowest compared to other four-year colleges and universities in Indiana. But another way we help you save is through various forms of merit and need-based financial aid.

We know that understanding the different types of financial aid can be tricky, and that's we've outlined the difference between these types, and how you can be considered. 

The 2024-2025 FAFSA is now live!

The Department of Education has launched a major update to the Free Application for Federal Student Aid (FAFSA). As a result, the timeline for financial aid has shifted for students enrolling in the 2024-2025 school year. Here's what to expect:

  • Now: The new FAFSA is available for students and families to complete. You can file your FAFSA using our school code, which is 001813
  • By the middle of March: Indiana University will begin to receive FAFSA data from the Federal government. 
  • Around the middle or end of April: IU Indianapolis will begin sending out Financial Aid Notifications through the US Postal Service and email. 

As a result of this national delay colleges and universities receiving FAFSA data, knowing there will be limited information about financial aid, we will waive your enrollment deposit upon request and hold your spot in the upcoming class. More details about this process will be available soon.

What is financial aid?

In short, financial aid is money to help you pay for college. Your financial aid can come with a few different options, some of which might be free money, while other types might be money you pay back.

Ready to learn more? Start exploring your options for aid at Student Central