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                                                                                        Student Financial Assistance  

Helpful Hints

 

  • File the FAFSA on the Web or Renewal FAFSA on the Web by March 1 to be considered for all types of aid.  March 1 is USI's deadline for institutional aid and federal campus-based aid. USI's federal school code is 001808.  Note: The State of Indiana considers the FAFSA to be filed on time if it is received on or before March 10 by the Federal Student Aid Programs.  Don't wait until after March 1 to apply as FAFSA on the Web may not be available during peak periods (like the period following March 1).   Starting with 2008-2009, the paper FAFSA must be downloaded as a PDF document from http://www.federalstudentaid.ed.gov/fafsa or ordered from 1-800-433-3243.
  • Set up your email account to accept your electronic Student Aid Report (SAR) by giving permission for email from cpsnotify@cpsemail.ed.gov.  Otherwise, your SAR may end up in a spam or junk mail folder!
  • It is highly recommended that you file FAFSA on the Web.  If you file on the Web, you must submit the FAFSA by March 10.  Don't just save the file, submit it!  If you use both a student PIN and a parent PIN, you will not be required to print, sign, and mail a signature page. Go to PIN Registration to request a PIN.  Keep your PIN in a safe place for future use.
  • While Stafford Loans are automatically awarded for fall and spring, summer Stafford Loans require completion of a request form.  Parent PLUS Loans will not appear as financial aid on students' accounts until the parent or parents apply for and are approved for a Parent PLUS Loan..
  • If you miss the May 1 data form deadline, submit the USI Financial Aid Data Form as soon as possible to ensure timely processing of your federal financial assistance.
  • Make sure you respond to the Financial Aid Notification by either accepting, rejecting, or reducing your Stafford Loan.  For more information on Stafford Loans, see the Stafford Loan Information page.
  • Use the State Grant Notification form to change college choice to USI if another college appears on the notification.  You can also make the change on-line at http://www.in.gov/ssaci/estudent/.
  • Students who want a Federal Work Study job but do not have a Work Study award may complete a resume and be placed on a waiting list beginning in June.
  • Note all financial assistance mail goes to the mailing address in summer and temporary (local) address during academic year. Students must keep their addresses up to date in the USI Registrar's office.  You can also update your address using MyUSI. Please keep your personal email address up to date as well.
  • Once a student enrolls in courses the student will be enrolled until they take action to withdraw. If a student does not attend and does not withdraw from courses he/she will be required to pay for those courses.
  • Loan proceeds are withheld until the Stafford Loan counseling/entrance interview is completed. Loan counseling can be completed on this Web site.  Individual appointments can also be made in the Office of Student Financial Assistance to complete the "interview" on-line with help from our staff.
  • First-time Stafford Loan borrowers and those who change lenders must sign a Master Promissory Note (MPN). 
  • Stafford Loan electronic funds are applied directly to the student's account.  Any credit balance is mailed to the student at the mailing address.
  • Academic year loans apply to the Fall and Spring semesters and require two disbursements, one in fall and one in spring. One-semester loans require only one disbursement at the start of the term.
  • Summer loans require a minimum of 6 credit hours for undergraduates and 5 credit hours for graduate students. Loan amounts are reduced if academic year borrowing plus the summer request exceed the annual maximum.
  • Save a signed copy of your (and your parents' if dependent) Federal Tax Return (1040, 1040A, or 1040EZ) each year.  It may be needed for verification.
  • Don't pay for services that are available for free.  See the article below for more information.
    Money: Protect Your Bank Account From Financial Aid Scams

                  

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