By now, you may have heard of something called FAFSA—the Free Application for Federal Student Aid. It’s the key to getting money for your education based on your financial need. By filing your FAFSA, you’ll be applying for most of the financial aid offered, including loans, grants, work-study, and some scholarships.
Cost of Attendance
Make a plan
For priority awarding, be sure to fill out a new FAFSA each year between October 1 and April 15.
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 E01033.
- 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 Columbus will begin sending out Financial Aid Notifications through the US Postal Service and email.
What to expect
Most types of aid we award are need-based, and you won’t be awarded more than you need. Here’s how we calculate your need:
Your cost of attendance (COA): Your Student Aid Index (SAI) – Other Financial Assistance = Your need. We offer one of the state’s most affordable educational values and our banded tuition helps keep you on track to graduate in four years or less. As a full-time undergraduate student, you will pay a flat rate for tuition which allows you to take between 12 and 18 credit hours. If you maximize the number of credits you take each semester, you can save big!
Follow this link for the University Bursar Master Fee List for all campuses, please make sure to select the correct term and campus as fees change.
Eligibility Requirements
Regardless of whether you receive need-based aid, non-need-based aid, or both, your award will never be more than your cost of attendance. And keep in mind that there’s no guarantee you’ll receive the whole amount you need to cover all of your expenses.
To get most types of financial aid at IU Columbus, you should:
- Have a high school diploma, GED, or High School Equivalency Diploma
- Be a U.S. citizen or eligible noncitizen
- Have a valid Social Security number
- Register with the Selective Service (also known as the military draft) if required
- Not be in default on previous federal aid
- Not owe an overpayment on previous federal aid
- Not have borrowed over student loan limits
- Not have had federal aid suspended due to a drug conviction
- Complete the part of the FAFSA which states you’ll use aid for educationally related expenses
- Be admitted to an IU Columbus degree program
- Maintain satisfactory academic progress
- Be working at least half time toward a degree (at least six hours per semester if you’re an undergrad and at least four hours per term if you’re a grad student)
In addition to these requirements, each aid program will have its own eligibility requirements.
Most nondegree students aren’t eligible for financial aid. There are two exceptions:
- If you have a bachelor’s degree and are working to obtain a teacher’s certificate, you are eligible to receive loans at the fifth year undergraduate borrowing level.
- If you have a bachelor’s degree and are taking preparatory courses to gain admission to an IU Columbus graduate program, you may be eligible to receive Federal Direct Loans and/or a Federal Direct Parent PLUS Loan for up to 12 months.
Applying early increases your chances
Because some financial aid is given to students who ask for it first, be sure to apply as soon as possible after the application becomes available on October 1.
What is Student Aid Index and why does it matter?
Your Student Aid Index (SAI) is the number used to determine whether you’re eligible for certain types of aid, and if so, how much you can be awarded. Your SAI is calculated based on the financial information you provide on your FAFSA. This number is not a dollar amount of aid eligibility or what your family is expected to provide. Your SAI will be listed on your FAFSA Submission Summary and can be as low as -1,500.
