Paying for College with
Financial Aid
We believe a college education empowers you to launch a bright future. That’s why State provides $16 million in scholarships and $7.8 million in grants each year. Let your brilliance shine—learn how to make your education attainable with financial aid.
Paying for College with
Financial Aid
We believe a college education empowers you to launch a bright future. That’s why State provides $16 million in scholarships and $7.8 million in grants each year. Let your brilliance shine—learn how to make your education attainable with financial aid.
College is expensive, but financial aid can help.
Each year, the U.S. Department of Education awards more than $120 billion in grants, work-study, and loans to more than 13 million students looking for funds—just like you.1 And we’re here to help make learning about these financial aid options as simple as possible.
FEDERAL AID
Start your financial aid search by filing the Free Application for Federal Student Aid (FAFSA). The FAFSA gives you access to government aid for college, including federal grants, work-study, and loans.
The FAFSA also helps states, colleges, and private lenders decide if you qualify for their aid. While the federal FAFSA deadline is June 30, some states have their own deadline. To meet the Indiana deadline, file your FAFSA by April 15.
Complete the FAFSA every year. The application is available October 1. Use our school code—001807.
SCHOLARSHIPS AND GRANTS
Scholarships and grants are gift aid, or free money, that doesn’t have to be repaid. Nearly 80% of full-time undergraduates at State receive scholarships and grants.
SCHOLARSHIPS
Many scholarships are merit-based and may consider:
• Grades
• Extracurricular involvement
• Activities and accomplishments
GRANTS
Grants are need-based aid offered by federal and state governments, colleges, employers, and nonprofits. Grants are awarded based on the results of your FAFSA.
Yes, they sure do!
Through the Sycamore Technology Award, State awards a laptop computer to students who are admitted and eligible for the Federal Pell Grant as determined by the FAFSA.
Actually they do!
Through the Sycamore Technology Award, State awards a laptop computer to students who are admitted and eligible for the Federal Pell Grant as determined by the FAFSA.
Examples of grants and scholarships include:
Examples of scholarships and grants include:
Federal Pell Grant
The Federal Pell Grant Program provides need-based grants to undergraduate students to promote access to postsecondary education. Over $7,000,000 is paid annually to State students. Federal regulations prohibit a student from receiving a Pell grant for longer than 12 semesters.
Federal Supplemental Education Opportunity
The Federal Supplemental Educational Opportunity Grant (FSEOG) program provides financial assistance to undergraduates with exceptional financial need.
ISU Academic Need-Based Grant
Indiana State University offers the ISU Academic Need-Based Grant to undergraduate students to promote access to postsecondary education.
Sycamore Need-Based Grant
Indiana State University offers the Sycamore Need-Based Grant to provide financial assistance to undergraduate students with financial need.
Employee Dependent Fee Waiver
Dependent children of qualified Indiana State employees who are full-time undergraduate students will receive 80 percent of qualified tuition per semester for a maximum of ten (10) semesters waived. Qualified employees must be employed at Indiana State University in that capacity on the day preceding the start of classes to receive the waiver.
The State Works Award
An education that goes beyond the classroom -- that's what the State Works program provides! Recognizing that money can be an issue for some Sycamores, Indiana State launched the State Works initiative to provide students with on-campus jobs that pay in valuable work experience and help them earn money for tuition, housing, and more.
External Scholarships
Billions of dollars in external scholarship money is available to students based on qualifications, interests, and skillsets. External scholarships may be available from a variety of private donors or organizations outside of Indiana State.
FEDERAL WORK-STUDY
Federal work-study provides students with an on- or off-campus part-time job. Students work their assigned hours each week to earn money for college expenses. Work-study awards are need-based and determined by the FAFSA.
Sycamores who don’t qualify for work-study can apply for student employment opportunities. Join 2,900+ student employees earning dollars for tuition, housing, and books.
LOANS
A loan is money borrowed from the federal government, private banks, or credit unions.
Only consider loans when you need help paying for college expenses after using:
Scholarships
Grants
Savings
Personal income
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Parent income
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Scholarships
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Grants
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Savings
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Personal income
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Parent income
FEDERAL LOANS
Federal student loans offer benefits private loans don’t, such as fixed interest rates, tax benefits, and income-driven repayment plans.2
PRIVATE LOANS
Private loans are offered by banks, credit unions, and other agencies. Generally, private loans are more expensive than federal loans.
Examples of loans include:
Federal Direct Subsidized/Unsubsidized
Federal Direct Subsidized/Unsubsidized Loans are low-interest loans for undergraduate and graduate students who complete a FAFSA.
Federal Direct Subsidized/Unsubsidized Loan
Federal Direct Parent PLUS Loan
Parents may be eligible to borrow a Federal Direct Parent PLUS Loan to help defer the education expenses for their dependent undergraduate students.
Federal Direct Parent PLUS Loan
Private Alternative Loan
Private alternative loans are serviced by agencies outside the University and typically require a credit check or income requirement. Please note that prospective borrowers may qualify for other Title IV assistance including loans that may have more favorable terms and conditions than the provisions of private alternative loans.
Federal Direct Graduate PLUS Loan
Graduate students are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance in the Direct Loan Program.