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Understanding your financial aid package

Your Financial Aid Notification (FAN) tells you what aid you’re eligible to receive, which may include grants, scholarships, loans, and work-study.

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What’s on your Financial Aid Notification (FAN)?

Your financial aid package can include several different types of awards. Learn more about the financial aid resources you might find on your FAN.

The Pell Grant is a federal financial aid award that does not require repayment. The grant amount is determined by your Student Aid Index (SAI), as calculated from your FAFSA, and the number of credits you take.

The Federal Supplemental Educational Opportunity Grant (SEOG) is a federal aid program designed for students with significant financial need. It doesn’t require repayment. You’ll find it listed as the “Federal Supplement Grant” on your FAN.

Admissions-based scholarships are automatic scholarships that are awarded at the time you are admitted to IU Indianapolis based on your high school GPA. No separate application is required, and the scholarship is renewable during your studies at IU Indianapolis.

Initiated by Indianapolis Mayor Joe Hogsett, the Indy Achieves Promise Scholarship provides financial assistance to Marion County (IN) residents that are eligible for state financial aid (such as the Frank O’Bannon Grant or 21st Century Scholarship). The Indy Achieves Promise Scholarship is a last dollar scholarship–meaning it covers the gap between your financial aid and the cost of your tuition and regularly-assessed fees.

The IU Indianapolis Pledge Grant is a need-based award, and eligibility is determined based on the results of your FAFSA; you must also be a recipient of the Frank O’Bannon Grant or the 21st Century Scholars Award. The grant comes from IU Indianapolis and does not have to be repaid.

The Frank O’Bannon Grant is an Indiana state grant program that assists in-state students with the cost of a two-year or four-year degree. Eligibility for the grant is based on financial need as determined by the FAFSA. The grant may be used toward tuition and regularly assessed fees.

The 21st Century Scholars Award is an Indiana state grant program that assists in-state students with the cost of a two-year or four-year degree. It covers tuition and regularly assessed fees for full time students up to 18 credits at IU Indianapolis. To qualify for the award, students must have initially met income requirements and signed up in 7th or 8th grade. As a college student, eligibility is determined based on your FAFSA.

IU Indianapolis participates in the Midwest Student Exchange Program (MSEP), a multi-state tuition reciprocity program established by the Midwestern Higher Education Compact. Residents of select Midwest states who have a minimum GPA of 2.75 or higher will automatically receive our Indiana Partners tuition amount, which represents a 55% reduction in nonresident tuition at IU Indianapolis. Participating states include Kansas, Minnesota, Missouri, Nebraska, North Dakota, Ohio, and Wisconsin.

Residents of Illinois, Kentucky, Michigan, and Puerto Rico with a 3.0 GPA will be considered for the Indiana Partners rate.

Federal Work-Study (FWS) allows you to earn money through a part-time job on campus or with partners in the local community. The money you make doesn’t automatically go towards your tuition and fees. Instead, you get paid every two weeks, and you can use that money for your education, personal expenses, or anything else you need.

Federal Direct Subsidized and Unsubsidized Loans are loans offered by the federal government to help students cover the cost of higher education. As the student, you are the borrower and are responsible for repaying the loan, but repayment is not required while you are attending classes if you are enrolled at least half time (6 credit hours for undergraduates, 4 credit hours for graduates).

Indiana’s Child of a Disabled Veteran Program and Public Safety Officer Supplemental Grant Program, collectively known as the CVO program, provide tuition and fee assistance for some veterans and dependents of military and public safety officers, including:

  • Eligible children of disabled Indiana veterans
  • Eligible children and spouses of certain members of the Indiana National Guard killed while on state active duty
  • Eligible children and spouses of certain Indiana public safety officers killed in the line of duty

Your estimated and remaining costs

Your FAN includes a “cost of attendance (COA),” which is an estimate of how much one year at IU Indianapolis will cost the average student. Your actual costs will vary based on how many credit hours you take per semester, your degree program, where you live, your travel habits, and other personal choices. You and your family can use the estimated COA to help plan for the costs associated with being an IU Indianapolis student.

Your COA includes estimates for:

  • Tuition and fees are based on full-time enrollment for fall and spring semesters. However, your actual tuition and fees will be based on the number of credits you enroll in for each semester.
  • Housing and food costs are estimated based on the housing option you provided during the admissions process. Please note: students living on campus will be billed for a housing contract and meal plan.
  • Books and supplies are estimated based on the average cost for textbooks and related supplies for a full-time student.
  • Transportation is estimated based on data from the U.S. Department of Labor’s Bureau of Labor Statistics. Transportation expenses may include a parking pass, gas expenses, general car maintenance, and car insurance.
  • Personal costs may include the cost of clothing, recreation, medical and dental bills, and health insurance.

Cost of college after financial aid

Your FAN will help you crunch the numbers to determine what costs you might still have after your financial aid is applied. It includes an estimate of what costs might be left after your scholarships and/or financial aid are applied. Remember—your COA is only an estimate so your actual living and educational costs might be less.

You will be billed for tuition, fees, and on campus housing expenses. Other expenses can be paid using your excess financial aid (commonly referred to as a refund) or out of pocket. Our Net Price Calculator can help you determine if you have enough aid to cover everything.

You can also explore alternate sources of funding.

Completing federal verification

The Department of Education selects some FAFSAs for an additional review process called federal verification. If you’re selected, we’re required to collect documentation from you to confirm the information on your FAFSA. Check your To-Do List in the Student Center to see what documents are required and to find important details on how to complete them. Also monitor your IU email regularly. We’ll reach out to you by email if we need any additional information.

IU Indianapolis

Office of Financial Aid & Scholarships

Campus Center, Room 250
420 University Blvd

Indianapolis, IN 46202
USA