Transferring Financial Aid to USI
PDF Checklist of this information
Your first step is to apply for admission as a degree-seeking student at USI.
The second thing you'll need to do, if you haven't already done so, is to add USI to your Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov. USI’s school code is 001808. You now need an FSA ID instead of a PIN to log in. To create an FSA ID click here. If you need assistance, call 1-800-557-7394. Note: Beginning in late April, the Department of Education will be adopting the best practice of using a username and password instead of the PIN.
Once you have been admitted and USI has received your FAFSA results, check your myUSI for important information regarding the following:
- Financial Aid Eligibility – Students who apply for federal and state financial aid are required by federal regulations to make satisfactory academic progress toward the completion of their degree or certificate program.
- Note: Check the USI Satisfactory Academic Progress Policy carefully if you are transferring in more hours than are normally required for your degree objective. You may be ineligible for aid. View financial aid eligibility requirements.
- Financial Aid Estimated Awards – Review your awards and the messages (if any) that correspond to them. Remember, awards are subject to change if your FAFSA information is adjusted or your enrollment changes.
- Financial Aid Requirements – Your financial aid cannot be reviewed, processed or disbursed if you have unsatisfied financial aid requirements (documentation and/or information requested to enable us to process your financial aid). Financial aid requirements can be viewed from your myUSI account. Instructions for checking your myUSI may be found online.
- Approximately 30% of students are randomly selected by the federal government for verification. Should you be selected, you will be required to supply additional information. The Office of Student Financial Assistance will notify you if you are selected and will inform you of the required documents you will need to submit. Financial aid cannot be disbursed until the verification process is complete, so it is important to respond quickly once you are notified.
Don’t forget to:
- Accept/Decline Direct Student Loans – Accept only the amount you need. Instructions for checking your myUSI may be found online.
- Report Outside Scholarships - You are required to report all outside resources/scholarships.
- Do include scholarships awarded by your high school, community, church and others; such as Dollars for Scholars and the National Merit Scholarship. Also include Vocational Rehabilitation, UAW, Workforce Development and any other agency that will help with college costs.
- Don’t include scholarships, grants and loans awarded by the university, state and the federal government; such as Departmental Scholarships, 21st Century, Pell Grants and Direct Loans. Also don’t include alternative/private loans.
Notify your current school of your plans to transfer to USI so they may cancel your aid for the upcoming semester. For example, with the Direct Student loan, students transferring at the end of fall must have spring disbursements cancelled with their current school prior to requesting a loan with USI.
If you have a Child of Disabled Veteran and Public Safety Officer Supplemental Grant (CVO), please visit Indiana's Division of Student Financial Aid website for the application. USI must have an original application verified by the Department of Veterans' Affairs.
View more information on requesting a Direct Student loan and/or applying for a Direct Parent PLUS loan.
Transferring Financial Aid from USI to Another Institution
If you have received financial aid at USI you will need to complete the Cancel Aid Form to have aid cancelled at USI for all future terms. The Cancel Aid Form may be obtained online in the Student Financial Assistance forms library. If your financial aid is not cancelled at USI for all future terms, your new college may not be able to disburse funds.
If you have received a Direct Student Loan at USI you will be required to complete Exit Counseling, which can be done online at StudentAid.gov. Your official USI academic transcript will be withheld until this obligation is completed. Note: If you applied for an academic year (Fall and Spring) Direct Student Loan at USI, and you transfer at the end of fall, your spring disbursement must be cancelled and you must re-apply for a loan at the new college if you wish to continue borrowing.
If you have a housing contract with USI, contact Housing and Residence Life to let them know you will not be returning for the next semester.
If you are enrolled in courses, contact the Registrar about withdrawing. If you do not officially withdraw you may still be required to pay for those courses.
Contact student financial assistance at the new college about any institutional financial aid forms you may need to complete.
If the new college is not listed on your Free Application for Federal Student Aid (FAFSA), you may add your new college to your FAFSA online at www.fafsa.gov (contact the new college for more information).
If you have a Child of Disabled Veteran and Public Safety Officer Supplemental Grant (CVO), please visit Indiana's Student Financial Aid website for the application. Your new college must have an original application verified by the Department of Veterans Affairs. (The CVO fee waivers are available only at state-supported colleges/universities in Indiana.)
Contact student financial assistance at your new college for more information about transferring financial aid. They may have additional requirements that need to be satisfied.