| Type of aid: |
Federal loan that must be repaid. Interest is charged during all periods beginning at the time of disbursement. |
| Award amounts: |
Up to $6,000 for freshmen and sophomores
Up to $7,000 for juniors, seniors, and continued undergraduate-level study
Up to $20,500 for graduate students |
| 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: |
Loan amount must fit within the estimated Cost of Attendance minus all other aid |
| Repayment: |
Begins six months after last date of half-time enrollment. Interest is set annually by the federal government and is currently fixed at 6.8% for the 2012–2013 award year. |
| Renewal requirements: |
Renewal FAFSA is required |
| EFC eligibility requirements: |
All |
| Enrollment requirements: |
Half-time or more enrollment is required to obtain any of these funds |
| Grade-level eligibility: |
All degree-seeking students |
| Costs this aid can cover: |
Any education related expense |