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The Financial Aid Process�Jane Jent, Financial Aid Administrator, IU Columbus

INDIANA UNIVERSITY COLUMBUS

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Goals for tonight:

  • Financial Aid overview
  • FAFSA overview
  • Next steps
  • Resources

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Financial Aid Basics

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What is financial aid?

  • Any form of funding that helps you pay for college. These are funds provided to students and families from federal, state, schools, and other sources to help with the costs associated with college. ​
  • Funding can be free money like scholarships or grants or could be money you borrow, like loans, that you have to pay back, sometimes with interest.

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INDIANA UNIVERSITY COLUMBUS

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Types of Financial Aid:

INDIANA UNIVERSITY COLUMBUS

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Gift Aid

SCHOLARSHIPS

Colleges/Universities

Private donors

Local organizations

Employers

National search sites

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GRANTS

FEDERAL

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Pell Grant

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STATE

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21st Century

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Frank O’Bannon

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Child of Disabled

Veteran (CVO)

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Self-Help Aid

LOANS

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WORK-STUDY

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Earn a paycheck while working a part-time job on campus

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How Do You Get Financial Aid?

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File the FAFSA

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The FAFSA typically opens on October 1st. For the 2025-26 academic year, the FAFSA is expected to be delayed until December 1st.

The student, and in most cases their parent(s), must provide their information on the application.

The FAFSA calculates the Student Aid Index (SAI) from the student’s and parent’s income and assets.

The FAFSA uses tax data from 2 years prior. The 2025-26 FAFSA will use tax data from 2023.

The SAI is used by colleges to determine a student’s eligibility for financial aid. The SAI may be as low as -1,500. The lower the number, the greater the need.

To be considered for state aid, the FAFSA must be filed by April 15th!

INDIANA UNIVERSITY COLUMBUS

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Federal Student Aid Account (FSA ID)

  • User account unique to each person
  • Student uses to login to FAFSA & sign electronically
  • Contributors (parent, parent’s spouse) use to sign electronically

Notes when creating account

  • Student & contributors can NOT use the same email or phone number
  • Required to link email and/or phone number to account
  • Will require a two-step verification

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Send your FAFSA to schools

You can add up to 20 school choices, so be sure to include all schools you are interested in applying to.

You can add schools later after the FAFSA is submitted.

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Financial Aid Notification

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Once you’re admitted to a school, they will send you a Financial Aid Notification (FAN) letting you know the estimated cost of attendance and what aid is offered.

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Apply for Scholarships!

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Scholarship Tips

  • Apply early and often
  • Pay attention to deadlines and to what is requested
  • Write a robust essay that speaks to what makes you unique
  • Use a specific experience you had; how were you impacted; what did you learn
  • Allow time to get requested information like letters of recommendation
  • Have someone proofread your application

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Resources

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INDIANA UNIVERSITY COLUMBUS