Applying for financial aid can be a very confusing process; failure to process your application(s) properly can cause a loss of thousands of dollars for which you are eligible. Pay attention to deadlines! If you wait too long to file, the amount you receive could be drastically reduced.
It is a common misunderstanding that when you transfer from one school to another you can "take" your financial aid with you. This is not true! It is critical that you become familiar with the process of transferring financial aid and follow the steps required. These steps may include:
- Canceling any financial aid processed at the school you are currently attending
- Adding the new institution to the FAFSA
- Changing the institution with the state, if SSACI eligible
Become familiar with all types of financial aid and investigate your eligibility for all of them with the school to which you are transferring.
There are basically five (5) types of financial aid:
- Grants (federal, Indiana, institutional) including Pell, ACG, SMART, FSEOG
- Loans, including Perkins, Stafford, Parent PLUS
- Fee remissions (waivers)
In addition, some students may qualify for aid in the form of :
- Veteran and Dependents Educational Benefits
- Vocational Rehabilitation
To qualify for many types of financial aid you must fill out the Free Application for Federal Student Aid(FAFSA) every year while in college. Federal Pell Grants can be filed throughout the academic year; however, state grants have filing deadlines that vary with each state. The current Indiana state grant deadline is March 10 and the FAFSA must be received by the federal processor. For more information go to the FAFSA
It is critical that you work with both your current school as well as the school to which you plan to transfer. Most schools have financial aid web sites containing helpful information. Below are the links to all Indiana public and ICI private institutions financial aid web pages.
For additional information about financial aid, click here
Public Colleges and Universities - Financial Aid
Non-Profit Online University
ICI Private Colleges and Universities