Financial Aid/Loans

Students must be enrolled in an approved degree and certificate program to be eligible for financial aid. Students who are Courses Only (degree status) are not eligible for financial aid.

Ivy Tech does not require high school/GED transcripts for most students. In most cases, students receiving financial aid will not have to submit high school transcripts. However, there are limited circumstances (such as in the case of Veterans Affairs Benefits Programs) where we may need to collect transcripts.

No, students are not required to attend full time, but most financial aid is prorated for students enrolled in fewer than 12 credit hours per semester. Some financial aid requires the student to be enrolled at least 6 credit hours (such as loans and some scholarships).

Students with bachelor's degrees may still apply for the Federal Work-Study Program, Federal Stafford Loan and Federal Unsubsidized Stafford Loan. These students will not be eligible for the Pell, Academic Competiveness and FSEOG grants.

Not necessarily. In order to be considered as an independent student for purposes of financial aid, you must be able to answer YES to at least one of the following questions. If you answer NO to all of these questions, parent information is required to be reported on the FAFSA.

For the 2011-2012 Academic Year:

• Were you born before January 1, 1988?
• As of today, are you married?
• At the beginning of the 2011-2012 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, graduate certificate, etc)?
• Are you currently serving on active duty in the U.S. Armed Forces for the purposes other than training?
• Are you a veteran of the U.S. Armed Forces?
• Do you have children who will receive more than half of their support from you between July 1, 2011 and June 30, 2012?
• Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2012?
• At any time since you turned age 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court?
• Are you or were you emancipated minor as determined by a court in your state of legal residence?
• Are you or were you in legal guardianship as determined by a court in your state of legal residence?
• At any time on or after July 1, 2010, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless?
• At any time on or after July 1, 2010, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless?
• At any time on or after July 1, 2010, did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless?

Once a course has been passed (D or higher), it can be repeated only once for financial aid purposes. If a course is repeated more than once after a student earns a passing grade, it is not counted in the hours for financial aid enrollment. Example: you earn a D in a 3-hour course, repeat it and get a D again. Even if your program requires a higher grade, the federal definition of passing is a D and you have repeated the course after earning a passing grade. If you repeat the course again, it is not included in your "financial aid hours"; if you are taking 12 hours including this course, your aid would be based on 9 hours of eligible courses.

Completing the Free Application for Federal Student Aid (FAFSA) is the first step in the financial aid process. The purpose of the FAFSA is to help the U.S. Department of Education and financial aid administrators determine your eligibility for federal and state aid. The State Student Assistance Commission of Indiana (SSACI) and Ivy Tech Community College also use the information received from the FAFSA to determine eligibility for other forms of financial aid.

The quickest way to apply is online at fafsa.ed.gov. To request a paper application or complete the FAFSA over the phone, call 800-4-FED-AID. Once you've completed your FAFSA, a Student Aid Report (SAR) will be generated and you should receive a copy by email or mail. The colleges you list on your FAFSA will receive your information after the application has been processed.

There are many different kinds of financial aid. Some, such as loans, have to be repaid, while others, such as grants and scholarships, do not. For more information, visit www.ivytech.edu/financial-aid.

A PIN is an electronic access code number that serves as your identifier. A PIN lets you access your personal federal student aid information online in various U.S. Department of Education systems.

If you apply using FAFSA on the Web, having a PIN allows you (and your parents, if they have a PIN and you're a dependent student) to "sign" your FAFSA electronically, which means the student aid process can be completed totally online. FAFSA on the Web filers who are new applicants (and their parents, if applicable) can request a PIN at www.pin.ed.gov.

It is a good idea to have completed the federal tax return before completing the FAFSA since exact tax information can make processing faster and simpler. If this cannot be done use estimated figures when completing the application. If the estimated figures differ from the actual figures make corrections on your Student Aid Report or contact your local financial aid office.

You can obtain a tax return transcript (summary of tax information) from an Internal Revenue Service Office or by calling 1-800-829-1040

Ivy Tech now uses a single school code (009917) regardless of which campus you attend or plan to attend.

The Office of Financial Aid can take into account special circumstances, which may affect your need. These may include loss of income due to layoff, disability, divorce, separation or loss of untaxed benefits. You can obtain a Special Circumstance Request Form from the Office of Financial Aid and submit it with supporting documentation. Please note that not all requests for special conditions are approved.

You may go directly to fafsa.ed.gov for details on the receipt and processing of your form.

Please log into your Campus Connect account (My Ivy Tech) to check your status or you may visit your local Financial Aid office.

You may check your Campus Connect account (My Ivy Tech) to check your status or you may contact your local Financial Aid office.

Financial aid may be available through external sources.

Please contact Vocational Rehabilitation with your personal situation

To receive Federal Direct Stafford and/or PLUS loans, you need to complete a Federal Direct MPN. If you have received a Federal Direct Stafford loan at Ivy Tech any other institution, you may already have an active MPN on file. You can check the status of your MPN or complete a new Direct Stafford and/or PLUS loan MPNs electronically via www.studentloans.gov. The MPN is generally good for multiple years. Log in with your Federal Pin, select Complete Master Promissory Note then Subsidized/Unsubsidized. You will be prompted for personal information and asked to select a school. After entering Indiana for the School State, choose IVY TECH COMMUNITY COLLEGE OF INDIANA - ALL CAMPUSES from the School Name drop down box. This school choice is correct for all Ivy Tech campuses and will display an Indianapolis address, do not be concerned that your local campus address does not display.

Due to changes in Federal Regulations and the elimination of certain questions on the FASFA, we are forced to make changes in our process of identifying students who are interested in receiving federal financial aid loans. This change does not affect your eligibility; however, it changes the process you need to follow in order to apply for a loan:

• First time borrowers and students who stopped attending class prior to the end of the term within the last two years, resulting in an adjustment of prior financial aid, are now required to complete a 2011-2012 Federal Direct Loan Request form. Although you can apply for a loan at any point throughout the academic year, please remember, the financial aid processing priority date is July 15. We cannot guarantee that loan application submitted after that date will be processed prior to the first day of the fall semester.
• All returning borrowers whose files are complete and in good standing for financial aid standards of academic progress will be automatically offered any eligible loan funds in addition to other available federal grant aid. These students do not have to submit the 2011-2012 Federal Direct Loan Request form.
• If you are NOT interested in obtaining a Federal Direct Student Loan, you are not required to complete the 2011-2012 Federal Direct Loan Request form.

If you are a first-time borrower at Ivy Tech, you will also need to complete the on-line entrance counseling available at www.studentloans.gov. Log in with your Federal Pin, select Complete Master Promissory Note then Subsidized/Unsubsidized. You will be prompted for personal information and asked to select a school. After entering Indiana for the School State, choose IVY TECH COMMUNITY COLLEGE OF INDIANA - ALL CAMPUSES from the School Name drop down box. This school choice is correct for all Ivy Tech campuses and will display an Indianapolis address, do not be concerned that your campus address does not display. Your electronic counseling results take approximately 2 business days to load into Banner Self Service. Entrance counseling is a one time requirement.

If you have any questions or concerns, please feel free to contact us. We look forward to guiding you through the financial aid process for the upcoming year. For more information on Direct Lending, visit www.studentloans.gov.

Prior to graduating or if you are no longer enrolled for at least six credit hours, Direct Loan borrowers must complete exit counseling. Direct Loan Exit Counseling will explain your rights and responsibilities as a Direct Loan borrower and is available online at www.nslds.ed.gov/nslds_SA.

Yes! If you plan to seek any type of financial assistance for the Summer 2012 semester, here is some helpful information regarding financial aid:

• FAFSA: Information from your 2011-12 FAFSA will be used to determine eligibility for the summer term. If a student has not used their annual limits, the remaining amounts will be available to use for the summer term based on general eligibility requirements. If you received Pell at full time in Fall and Spring, you will not have Pell available for Summer.  You may want to consider reserving any Spring refund to pay for Summer tuition, fees and books if you have exhausted your annual Pell eligibility.  If you have already filed the 2011-2012 FAFSA, you do not need to re-file.
• Registration: Registration for summer 2012 classes begins on February 15, 2012. After you register, your campus Financial Aid Office will determine the amount of financial aid in which you are eligible. Check Campus Connect for financial aid messages and award offers after you have registered for classes.
• Credit hour requirements: Credit hour requirements for summer semesters are the same as fall and spring semesters. Students must be enrolled at least half-time in order to obtain a loan.
  • 12 and greater = full-time
  • 9-11 = three-quarters time
  • 6-8 hours = half-time
  • 1-5 credit hours = less than half-time
• Loan application: If you are interested in receiving a loan, please complete the Summer 2012 Federal Direct Loan Request form and submit to your campus Financial Aid Office. This form is only required for a loan and is not required for any other type of financial aid.
• Priority date: In order to ensure ?on-time? processing of your aid by the start of Summer 2012 classes, students must apply AND return all requested forms/verification paperwork and loan applications to the Ivy Tech Financial Aid Office by May 1. It is recommended that students begin the financial aid application process at least 3-4 weeks before the priority processing dates.

Credit hour requirements are the same as fall and spring:

• 1-5 credit hours = less than half time
• 6-8 credit hours = half time
• 9-11 credit hours = three quarters time
• 12 and greater = full time

Students must be at least half time in order to obtain a student loan.

Yes! If you plan to seek any type of financial assistance for the Summer 2012 semester, here is some helpful information regarding financial aid:

• FAFSA: Information from your 2011-12 FAFSA will be used to determine eligibility for the summer term. If a student has not used their annual limits, the remaining amounts will be available to use for the summer term based on general eligibility requirements. If you received Pell at full time in Fall and Spring, you will not have Pell available for Summer.  You may want to consider reserving any Spring refund to pay for Summer tuition, fees and books if you have exhausted your annual Pell eligibility.  If you have already filed the FAFSA for this award year, you do not need to re-file.
• Registration: Registration for summer 2012 classes begins on February 15, 2012. After you register, your campus Financial Aid Office will determine the amount of financial aid for which you are eligible. Check Campus Connect for financial aid messages and award offers after you have registered for classes.
• Credit hour requirements: Credit hour requirements for summer semesters are the same as fall and spring semesters. Students must be enrolled at least half-time in order to obtain a loan.
  • 12 and greater = full-time
  • 9-11 = three-quarters time
  • 6-8 hours = half-time
  • 1-5 credit hours = less than half-time
• Loan application: If you are interested in receiving a loan, please complete the Summer 2012 Federal Direct Loan Request form and submit to your campus Financial Aid Office. This form is only required for a loan and is not required for any other type of financial aid.
• Priority date: In order to ensure ?on-time? processing of your aid by the start of Summer 2012 classes, students must apply AND return all requested forms/verification paperwork and loan applications to the Ivy Tech Financial Aid Office by May 1. It is recommended that students begin the financial aid application process at least 3-4 weeks before the priority processing dates.

Due to changes in Federal Regulations and the elimination of certain questions on the FASFA, we are forced to make changes in our process of identifying students who are interested in receiving federal financial aid loans. This change does not affect your eligibility; however, it changes the process you need to follow in order to apply for a loan.

If you are interested in receiving a loan for the summer term you must complete a Summer 2011 Federal Direct Loan Request. Please follow the directions and submit all required information to your local financial aid office.

The U. S. Department of Education selects approximately 30% of all FAFSA applicants for a process called verification. FAFSAs selected for verification may include those with inaccurate or incomplete information, although most are selected at random. If you are selected, you will be asked to complete a verification worksheet online and provide income documentation to ITCC?s Verification Processing Center. Documentation of your spouse?s or parents? information may also be required.

Our Verification Processing Center will review your verification worksheet information and income documentation, comparing it with information you submitted on the FAFSA. It is to the student's benefit to respond to and complete the verification process as quickly as possible because no packaging, awarding, and disbursement of aid will occur until verification is completed. Participation in the verification process is not optional; it is a federal requirement.Failure to comply with and complete the verification process may result in cancellation of any financial aid already awarded. If there are any differences found between information reported in the FAFSA and actual figures on tax returns and other required documentation, adjustments may be made to your award.

If you are selected for Verification, you will receive an e-mail from ITCC, directing you to a link from Campus Connect into our Verification Processing Center. A list of required documents (and instructions for providing each document) will be presented to you online.

Ivy Tech Community College may also select students for verification. Those students will be contacted with specific information and instructions about any documentation being required.

Yes. You need to log back into the FASFA website and select "Make FAFSA Corrections". It will allow you to use the IRS Data Retrieval Tool.

We'll post your Ivy Tech e-mail address into your record at the Verification Processing Center, so you will receive a message with a link from Campus Connect to the Verification Processing Center in the next few days.

You can update your e-mail address on the Verification website (click the Verification File Review link in Campus Connect).

You can get help with that by calling the Verification Center at 1-888-939-6002.

You can get help with that by calling the Verification Center at 1-888-939-6002.

You can get help with that by calling the Verification Center at 1-888-939-6002.

Log in to Campus Connect, go to ?My Ivy Tech?, and select ?Verification File Review?. This will take you to the student portal of the Verification Processing Center, where you can see if your documents have been received. There will be a green check-mark for each document received. If you do not see green checkmarks, you can call 888-939-6002 for assistance.

Log in to Campus Connect, go to ?My Ivy Tech?, and select ?Verification File Review?. This will take you to the student portal of the Verification Processing Center, where you can upload documents. If your document has been received, there will be a green checkmark next to it. If not, you can call 888-939-6002 for help.

That?s right. Federal regulations changed and the U.S. Dept. of Education says we can no longer accept tax returns. Instead, you can use the IRS data retrieval tool (go to FAFSA.gov and select ?Make FAFSA Corrections?) or provide an IRS Tax Return Transcript (www.IRS.gov, click on ?Order a Return or Account Transcript? ? choose the Return Transcript, not the Account Transcript ? or call the IRS at 800-908-9946). We strongly suggest that you use the IRS data retrieval tool, because it is much faster than waiting for the IRS to send you a Tax Return Transcript.

All first time student loan borrowers are required to complete loan counseling before their loan can be disbursed. This is done on-line and takes less than thirty minutes. It is a process designed to inform you of the rights and responsibilities associated with your student loan.

Yes, exit interview sessions are mandatory for all student loan borrowers leaving Ivy Tech.

Not necessarily. In order to be considered as an independent student for purposes of financial aid, you must be able to answer YES to at least one of the following questions. If you answer NO to all of these questions, parent information is required to be reported on the FAFSA.

For the 2011-2012 Academic Year:

• Were you born before January 1, 1988?
• As of today, are you married?
• At the beginning of the 2011-2012 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, graduate certificate, etc)?
• Are you currently serving on active duty in the U.S. Armed Forces for the purposes other than training?
• Are you a veteran of the U.S. Armed Forces?
• Do you have children who will receive more than half of their support from you between July 1, 2011 and June 30, 2012?
• Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2012?
• At any time since you turned age 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court?
• Are you or were you emancipated minor as determined by a court in your state of legal residence?
• Are you or were you in legal guardianship as determined by a court in your state of legal residence?
• At any time on or after July 1, 2010, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless?
• At any time on or after July 1, 2010, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless?
• At any time on or after July 1, 2010, did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless?

Students will need to go to Campus Connect electronically sign their Financial Aid Authorization (Book sheet). This will allow for their aid to be released to Follett Bookstore to charge their books (as long as the aid has been authorized).

1. Log into Campus Connect at cc.ivytech.edu using your user id and password
2. Click the Verification and Authorization link in the My Ivy Tech channel.
3. Select Requirements, Verification and Documents
4. Select aid year
5. Select Authorize FA to Pay Charges other than Tuition and Fees
6. Read form and choose whether to accept or deny the authorization. Acceptance on the first option will allow books to be charged at the bookstore as long as there is available aid after tuition and fees are covered. Acceptance of the second option will allow previous balances from the previous aid year only up to $200 to be covered by current semester financial aid.
7. Click submit button at bottom of authorization after choosing an option on both authorizations.
8. Exit the system.
9. Account at bookstore will be available within 48-72 hours.

You do not have to authorize your financial aid each semester. If you previously authorized your aid, you do not have to repeat the authorization steps. If you are a new student or first time financial aid student, you will need to authorize your aid.

There are many different kinds of financial aid. Some - such as loans - have to be repaid, while others - such as grants and scholarships - do not. For more information, visit www.ivytech.edu/financial-aid.

This is generally based on "need." Financial need is the difference between your college expense and the amount of money you and, in some cases, your family are expected to contribute. Often you will be offered financial aid from more than one source. It may be a combination of gift dollars, a loan, and a part-time job.

When you register at Ivy Tech, financial aid may pay for all or a portion of your class fees, books and supplies. If there are dollars left over from the total amount of your financial aid, you will receive the money approximately seven weeks into the semester. If your financial aid does not cover all of your fees, then you are expected to make payment arrangements with the business/bursar office before classes start. Contact the business/bursar office for more information.

A subsidized loan is awarded on the basis of financial need. You won't be charged any interest before you begin repayment or during authorized periods of deferment). The federal government "subsidizes" the interest during these periods.

An unsubsidized loan is not awarded on the basis of need. You'll be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accrue (accumulate) while you are in school or during other periods of nonpayment, it will be capitalized?that is, the interest will be added to the principal amount of your loan, and additional interest will be based on that higher amount. If your interest is capitalized, it will increase the amount you have to repay. You can choose to pay the interest as it accumulates; if so, you'll repay less in the long run.

You may check your Campus Connect account for your loan status or you may contact your local Financial Aid office. You may also track your loan process through www.studentloans.gov.

Yes, if your financial aid award is more than calculated tuition and fees. Please refer to the section that deals with authorizing my financial aid.

First time borrower
If you are considered a "first time borrower", per federal regulations, you have to wait until 30 days into the semester before receiving loan funds.

Returning borrower
If you are a returning borrower, once the funds are sent to the college from the lender and post to your account, the college will release the funds within 14 days. The college will deduct any tuition or fees owed and send the refund to the student.

You can check on your financial aid by logging into Campus Connect. Click the more options link under the Financial Aid section of My Ivy Tech and then click the Step 5 Monitor your financial aid status link. The Financial Aid Status link allows you to view overall status, holds, academic progress, cost of attendance, financial aid awards and messages.

Your eligibility for federal financial aid is based on the enrollment status at the end of the 100% refund period. If a student adds a class after the end of the 100% refund period, their federal and state aid will not increase and they may owe money for the added class(es).

Attendance: Students must not only be "enrolled" but must actually be attending class. Students who never attend class or stop attending class without formally withdrawing will have their aid adjusted as required by the federal refund policy. If you are considering withdrawing from some or all of your courses, talk with a financial aid staff member.

If you receive financial aid, you must maintain Standards of Progress. That means that you must demonstrate satisfactory progress toward completion of your program within a specific time period, based on the number of hours you take each semester. Failing to meet the standards could result in being terminated from receiving financial aid.

Detailed information about the Ivy Tech's SAP policy can be found at www.ivytech.edu/financial-aid.

• Students receiving federal and state financial aid (grants and/or loans) must maintain satisfactory academic progress (SAP) toward a degree objective.
• SAP is checked at the end of each semester.
• Students who are on Financial aid warning or probation will remain eligible for federal financial aid but will not be allowed to purchase books in the bookstore until final coursework is evaluated and SAP is recalculated.
• Students who do not meet SAP at the end of the warning/probationary period are placed on Financial Aid termination and are not eligible for any form of financial aid (including loans) from the Financial Aid Office.

Be careful when searching for information on student financial assistance. Make sure information and offers are legitimate. The College Scholarship Fraud Prevention Act enhances protection against fraud in student financial assistance. The Federal Trade Commission (FTC) cautions students to look for these telltale lines:

• Fees are charged to search for scholarships for which you may qualify.
• The scholarship is guaranteed or your money back.
• You can't get this information anywhere else.
• "I just need your credit card or bank account number to hold this scholarship."
• You've been selected by a "national foundation" to receive a scholarship or you're a finalist in a contest you never entered.

To file a complaint, or for free information, call 1.877.FTC.HELP (1.877.382.4357) or visit the Federal Trade Commission online.

Free scholarship searches:

• Federal Student Aid Website
• fastweb
• College Board

Please visit the U.S. Department of Education Office of Inspector General website for more information.