(Single click on question to see answer.)

Is my file complete?

Where do I get answers to my financial aid questions?

I'm not sure I (or my family) will have financial need.  Should I complete the FAFSA?

Must I be accepted for admission before I apply for financial aid?

Must I be admitted before I receive aid?

Do I have to apply for financial aid each year?

I want to apply for a scholarship only.  Do I have to fill out the FAFSA?

I know I filled out a FAFSA and sent it in at least four weeks ago, but I haven' t received a SAR.  What should I do?

What is untaxed income for financial aid purposes?

My parents are separated or divorced.  Which parent fills out the FAFSA?

Does my stepparent's income and assets have to be reported on the FAFSA?

I live with my grandparents.  Whose financial information should I include on the FAFSA?

I am currently separated or divorced. What financial information should I include on the FAFSA?

I recently married and we filed separate tax returns for the prior year.  What financial information should I include on the FAFSA?

What if my parents or I have had an extraordinary drop in income or increase in expenses? Do I submit that information to your office?  When do you need it?

What is an Expected Family Contribution and when do I provide it?

Is my file complete?
Have I turned everything in? You can check on the status of your application by calling 812/464-1767 or 800-467-1965.  You can also check your application status using MyUSI.

Where do I get answers to my financial aid questions?
Come to the Office of Student Financial Assistance located in the Orr Center or call 812/464-1767 (800/467-1965) or use the "finaid" contact link. When sending questions via email, please include your name and social security number. If your question goes beyond asking for or checking on forms, ask to speak to your financial aid counselor.

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I'm not sure I (or my family) will have financial need.  Should I complete the FAFSA?
Yes. Financial aid is intended both to remove financial barriers for families who cannot afford the cost of an education beyond high school and to fill in the gap for families who can afford only part of the cost. Some loans and scholarships are available regardless of "need."  The Stafford Loan requires annual FAFSA filing.

Must I be accepted for admission before I apply for financial aid?
No. You may apply for financial aid any time after January 1. It is strongly recommended that you apply before March 1 if you are an Indiana resident. You will not receive a financial aid notification form (award package) until you have applied for admission at USI.

Must I be admitted before I receive aid?
You must be admitted and enrolled as a degree or certificate seeking student at USI before you receive any funds. The only eligible certificate programs are Dental Assisting, the Postbaccalaureate Certificate in Computer Information Systems, and state-approved teacher certification programs.

Do I have to apply for financial aid each year?
Yes. Your financial situation must be reassessed each year. However, after the first year you apply for financial aid, you probably will be sent a Renewal Application that will ask you to answer some questions again and recheck the answers to others.

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I want to apply for a scholarship only.  Do I have to fill out the FAFSA?
Not for most scholarships. However, to be considered for scholarships where financial need is a criteria, you must complete the FAFSA. Also, certain programs such as the Presidential Scholarship and Athletic Scholarships require annual FAFSA filing.

I know I filled out a FAFSA and sent it in at least four weeks ago, but I haven' t received a SAR.  What should I do?
Call the U.S. Department of Education's Public Inquiry phone number: 1-800-433-3243.  If you applied using FAFSA on the Web, you can check the status of your application at www.fafsa.ed.gov.

What is untaxed income for financial aid purposes?
Some FAFSA questions ask for "other untaxed" income described in worksheets A, and B on  page 8. Untaxed income is income received that is not subject to U.S. income taxes and is required to be reported on the FAFSA. It includes Social Security and veterans benefits, welfare, child support, pensions, military subsistence allowance, etc. Even if you filed a tax return, complete the untaxed income worksheets A and B on page 8 and transfer the totals to the appropriate FAFSA line number.  Note: Worksheet C totals are considered income adjustments and are subtracted from your adjusted gross income when the expected family contribution (EFC) is calculated.

My parents are separated or divorced.  Which parent fills out the FAFSA?
The parent you lived with most during the last 12 months. If you didn't live with either parent, or if you lived with each parent an equal number of days, use the parent who provided the most support to you during the last 12 months or during the most recent calendar year that you were actually supported by a parent.

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Does my stepparent's income and assets have to be reported on the FAFSA?
If the parent whose information you are reporting on the FAFSA is married or remarried at the time you complete the FAFSA, you must include information about your stepparent (even if they were not married in the year in which income information is being requested).

I live with my grandparents.  Whose financial information should I include on the FAFSA?
Include only information about your natural or adoptive parents.  If your grandparents have not adopted you and you cannot have contact with your parent(s) or don't know their whereabouts, ask your USI financial aid counselor how you should complete the FAFSA.

I am currently separated or divorced. What financial information should I include on the FAFSA?
Include only information about your prior year income and your current assets.  Even if you filed a joint tax return, you must separate your income and asset information from your former spouse's.

I recently married and we filed separate tax returns for the prior year.  What financial information should I include on the FAFSA?
Include information about your and your spouse's prior year income and current assets.  Even if you filed separate tax returns, you must report both your and your spouse's income.

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What if my parents or I have had an extraordinary drop in income or increase in expenses? Do I submit that information to your office?  When do you need it?
You do not need to do anything until after you receive your official financial aid notification from USI. Your original notification will reflect the prior year information from your Free Application for Federal Student Aid (FAFSA). If you do not qualify for enough financial assistance to cover your costs, you may request a Special Condition Form from our office. Complete the form and return to the USI Student Financial Assistance office a written explanation of the changes in circumstances and attach all required documentation.

Parents' and students' requests for reevaluation based on extraordinary changes in financial circumstances during the current calendar year will be reviewed as received. The last date to submit a Special Condition Form for the current academic year is March 1. If it is determined that your financial need has increased, we will recommend student loans and also reevaluate your eligibility for a Pell Grant. Do not submit documentation of changes in circumstances until after you receive your first official award notification.

What is an Expected Family Contribution and when do I provide it?
This is the amount that the federal government has determined you and your parents can contribute to your education throughout the year. This amount is not "due" at one specific time but can be contributed to your educational costs in a variety of ways such as, assisting in the payment of fees each semester, buying books and supplies, or providing monthly funds from your parents or a part-time job to cover housing, transportation costs or miscellaneous costs.

The University will bill you by term for tuition/fees, housing (if you live on campus), and the food plan if you select one.  Financial aid, both actual and estimated, may be deducted from your bill before you pay the balance.  Of course, estimated aid amounts may sometimes change and if this happens, you could still owe a portion of your bill. 

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