Frequently Asked Questions
- IPFW.edu
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Financial Aid
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Forms and Resources
- Frequently Asked Questions
Click on the links below for answers to your questions. Don't see an answer you need? Tell us!
FAFSA (Free Application for Federal Student Aid) FAQ
- What is IPFW's school code?
- How do I apply for financial aid?
- What is the deadline to file a FAFSA?
- More FAFSA questions answered here
Dependency Status
- Am I an independent student if I live on my own and pay my own bills?
- What should I do if my parents refuse to give me their financial information?
- Get more information about Dependency Status / Special Circumstance
Awarding Your Aid
Receiving Aid
- Do I have to be full time to receive financial aid?
- How does financial aid pay out at IPFW?
- When will my aid pay out?
- Can I buy my books before the semester begins?
Student Loans
Attendance and Withdrawals
- If I drop a class, will it affect my aid?
- If I change a class from credit to audit, will it affact my aid?
- What happens to my aid if I withdraw from all of my classes?
- I was told my aid was suspended. Why?
FAFSA (Free Application for Federal Student Aid) FAQ
What is IPFW's school code?
001828
Back to topHow do I apply for financial aid?
Eligibility for federal grants and loans, state grants, and some scholarships is determined by completing the Free Application for Federal Student Aid (FAFSA)
Back to topWhat is the priority deadline for Financial Aid?
As of 2016, you can now file your FAFSA as early as October 1st. The priority deadline for completion is March 10th 11:59 PM of each year in order to be eligible for any Indiana state aid. If you file your FAFSA after the deadline, you will still be eligible for federal aid, but not Indiana state aid.
Additionally, if you have any corrections that you must make to your FAFSA, you must do so by May 15th each year to keep your eligibility for Indiana state aid.
Dependency Status
Am I an independent student if I live on my own and pay my own bills?
In many cases, no. The federal government has set specific criteria that determines a student's dependency status.
Independent students:
- are 24 years old or older as of January 1st of the filing year or
- are married or
- have children who are supported 51% or more by the student or
- were made a ward of the court or you were an orphan before the age of 18 or
- served active duty in the military for purposes other than training.
You must meet at least one of the criteria above to be automatically considered to be an independent student. In some extreme or unusual situations, a Dependency Appeal can be completed with the Financial Aid Office. Contact us to meet with a Financial Aid Counselor.
Back to topMy parents refuse to give me their financial documents. What are my options?
Please call the Financial Aid Office (260-481-6820) or visit the Enrollment Services Center Front Desk - 1st floor Kettler Hall for more information on your options.
Back to topAwarding Your Aid
I submitted my FAFSA, why haven't I been awarded?
If you haven't received a Student Aid Report (SAR), you can check the status of a submitted FAFSA by calling the Federal Student Aid Information Center at 1-800-433-3243 (toll free).
If you have already been admitted to IPFW, you can check if IPFW has received your FAFSA or if you have any outstanding requirements by logging on to myIPFW. Under Financial Aid Awards, you can view your Financial Aid Requirements. The Financial Aid Requirements box will indicate if your FAFSA was received and if you have unsatisfied requirements that require documentation you must submit to the Financial Aid Office.
Back to topWhat is my Cost of Attendance?
The first step in awarding your financial aid is to calculate what your costs will be for the academic year. This is called your Cost of Attendance (COA), also called your budget. You can find out what comprises your Cost of Attendance on the Cost of Attendance Page.
Back to topHow do I accept my financial aid awards?
Students accept their financial aid awards online on myIPFW.
Back to topReceiving Your Aid
Do I have to be enrolled full time to receive financial aid funds?
You must be enrolled full time (minimum 12 credit hours) to receive the Frank O'Bannon Higher Education Award, and for 21st Century Scholars.
The Pell grant is prorated for the amount of credit hours you are enrolled in. To receive the maximum amount of your Pell grant, you must be enrolled full time (minimum 12 credit hours).
You must be enrolled at least half time (minimum 6 credit hours) to receive student loan funds.
How does financial aid pay out at IPFW?
Once your financial aid funds are received, it pays to your student account. Once your balance is satisfied, any aid left over will be refunded by the Bursar's Office for you to use as needed for your education and living expenses. You can opt to have your refund direct deposited into your bank account, or you can choose to have a paper check mailed to your home address.
Back to topWhen will my aid pay out?
Prior to the beginning of a semester, financial aid will begin disbursing the week before classes start. Refund checks will be generated and mailed to your home address later in the week. Please note: you cannot pick up your check at the Bursar's Office during this time. Also, if you want to have your refund direct deposited, you must set it up on myIPFW before disbursements begin, it is not an available option during disbursement week.
Back to topCan I buy my books before the semester begins?
Yes, the bookstore credit is available beginning 5 weeks before classes begin. You can use up to $700 of your expected financial aid refund. If you need more than that, you will have to wait until after you receive your refund check.
Back to topStudent Loans
How do I apply for student loans?
Stafford student loans and Perkins student loans are awarded as part of your financial aid package. You can apply for private student loans through any lender you choose.
Back to topWhy haven't my loans paid out?
If you were awarded Stafford loans, you must accept them on myIPFW. If this is the first time you are borrowing Stafford loan funds at IPFW, you must also complete the Pre-Loan Requirements (Entrance Interview and Master Promissory Note).
If you were awarded Perkins loans, you must accept them on myIPFW and complete the Pre-Loan Requirements.
For private (alternative) loans, your lender will be able to tell you when your loans will pay out.
Back to topAttendance and Withdrawals
If I drop a class, will it affect my aid?
Dropping one or more classes during the semester could affect your aid. The only way a withdrawal's impact can be determined is to contact the IPFW Financial Aid Office.
If I change a class from credit to audit, will it affect my aid?
Switching a credit class to audit means that class will no longer count towards your credit hour total. For example, if you enrolled in 6 credit hours and change one of your classes to audit, you will drop below the minimum credit hour requirement to defer your federal loans. If you enrolled in 12 credit hours and changed one class to audit, you will drop below full time status and you may lose any Indiana state grants, like the Higher Education Award.
What happens to my aid if I withdraw from all of my classes?
If you withdraw from all of your classes, some or all of your aid may be returned to the government. This is called Return of Title IV Funds. After you withdraw, the Financial Aid Office will determine your last date of attendance and calculate how much of your financial aid you did not earn by staying in classes. You will then have to repay that amount to IPFW.
You should know that an approved 100% Fee Refund appeal will stop the Financial Aid Office from returning your financial aid funds. Federal regulations require us to return aid from students who stop attending during the semester.
I was told my aid was suspended. Why?
Federal guidelines mandate that students must maintain performance standards to be eligible for financial aid funds. This is called Satisfactory Academic Progress, or SAP.
If you do not meet the minimum standards, you will be placed on SAP Probation. If your performance doesn't improve, you will be placed on SAP Suspension and you will lose your eligibility for federal and state aid until you appeal your suspension and it is approved or your academic performance improves to good standing.
