Application for Financial Assistance
To have financial assistance processed in a timely manner and to be considered for all types of assistance, students file the Free Application for Federal Student Aid (FAFSA) prior to March 1 preceding the academic year for which aid is being requested. The academic year begins in fall and ends in spring.  Summer requires a separate Stafford Loan request form if students are borrowing.

All required documentation such as the USI Financial Aid Data Form must be submitted to the Student Financial Assistance Office by May 1.  Signed photocopies of prior year federal tax returns will be required from applicants who are selected for verification by the U.S. Department of Education. Applications and files completed after these deadlines will be processed after all on-time applications.

Applications are available in the USI Student Financial Assistance Office.  Write to address below or call 812/464-1767 for more information.  On-line forms are available.

Enrollment Status/Credit Level
To be considered a full-time graduate student for the purpose of receiving most financial aid requires that the student be enrolled in graduate courses totaling at least nine semester hours during each semester.  A load of five semester hours of graduate course work during a semester is the minimum amount for consideration as a half-time graduate student.  Summer is considered a semester with the same enrollment requirements as fall and spring.

Financial Responsibility
Students who do not receive a financial aid notification letter prior to billing must pay their fees by the due date in order to retain the classes for which they are pre-registered. The Bursar’s Office offers an installment payment plan that permits multiple payments for an additional processing fee.

Most types of aid will appear as a credit against fees on the bill sent prior to the start of classes. Some aid types, such as Work Study, require special procedures and will not appear on the bill. Estimated aid that appears on the bill may be deducted from the total fees. If no payment is required, students must sign and return their bills by the due date to ensure that classes will be reserved and not canceled. Students should contact the Student Financial Assistance Office if they have questions about these procedures.

Satisfactory Academic Progress 
Students who receive federal or state student financial aid are required to make satisfactory progress toward completion of their degree program. Progress is measured by the number of credits successfully completed each semester and by the student’s cumulative grade point average. Copies of the current graduate academic progress policy are available in the Student Financial Assistance Office and on this Web site at www.usi.edu/finaid/rapgrad.asp.

Institutional Refund Policy for Financial Aid Recipients
Students who withdraw from the University or change enrollment status during the fee refund period will be required to restore refunded fees to the financial aid account from which the money originated. The full amount of fee refunds will be used to repay student aid accounts until all student aid is reimbursed.

Students who withdraw from or cease attendance at the University prior to the tenth week in fall or spring may be required to repay a portion of any financial aid which exceeded actual fees and books. Summer session refunds are calculated on the length of individual class schedules. The current refund policy for financial aid recipients is available in the Student Financial Assistance Office.

NOTE: Assistance may be reduced or withdrawn for less than full-time enrollment. Only credits that are required for successful completion of the student's degree program may be counted in the determination of enrollment status.  Students who receive aid for courses not required for graduation will be required to repay all or a portion of such aid.

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