William D. Ford Federal Direct Loan - Subsidized

Type of aid: Federal loan that must be repaid. No interest is charged while you are in school at least half-time, during your grace period, and during deferment periods.
Award amounts: Up to $3,500 for freshmen
Up to $4,500 for sophomores
Up to $5,500 for juniors, seniors, and continued undergraduate-level study
Application process: Must have completed a Federal Direct Loan Master Promissory Note, the Federal Direct Loan Entrance Counseling session, IWU Financial Aid Request Form, valid year-appropriate FAFSA, and all associated paperwork to complete your financial aid file
Eligibility requirements: Must demonstrate financial need after other aid and must not have met the aggregate borrowing or lifetime usage limit
Repayment: Begins six months after last date of half-time enrollment. Interest for undergraduate students is fixed at 4.66% for the 2014-2015 award year. Interest rates are set annually by the federal government.
Renewal requirements: Renewal FAFSA is required
EFC eligibility requirements: Determined by FAFSA, Cost of Attendance, and enrollment status
Enrollment requirements: Half-time or more enrollment is required to obtain any of these funds
Grade-level eligibility: All undergraduate degree-seeking students
Costs this aid can cover: Any education related expense

Contact Info

Indiana Wesleyan University

Financial Aid Office
1900 W. 50th St.
Marion, IN 46953
800-621-8667, ext. 2516
Fax: 765-677-2030

FAFSA Code: 001822

Free Application for Federal Student Aid