It may become confusing to parents and students when applying for Indiana college financial aid. However, no matter the income of your family household, each student should apply for aid and search for Indiana scholarships. By completing a FAFSA, the Financial Aid Office at the University of Indianapolis can determine which aid you qualify for. Here are some important factors to keep in mind when applying for financial aid in Indiana or across the country:
1. Students should apply for aid and submit a FAFSA each year. Be sure to turn in all applications on time. Deadlines are important. Be aware that different colleges and universities may require different aid forms.
2. Students should be knowledgeable that there are different forms of aid. Federal, state, grants, and loans are all considered a source of aid. Upon receiving an award letter, be sure to note if this aid is renewable on a yearly basis.
3.There is a difference between eligibility and need. For instance, a student may be eligible to receive a grant, but the institution may not see the student as being need- based on their aid rankings.
4.Merit aid is primarily in correspondence to academic performance. Merit aid can also be based on criteria such as having a particular major or residing in a certain location.
5. Parents and students should take into account all cost intended when entering college, which includes tuition, books, housing, and transportation.