Discover Scholarships, Grants, and Other Aid
An outside scholarship is any scholarship not awarded by the government or Indiana Wesleyan University. Students may find the following scholarship search tools useful in searching for additional financial assistance toward their IWU education. IWU does not endorse or partner with any of these entities; they are simply listed for your convenience and as options to consider.
Explore nearly $3 billion in available scholarship aid through The College Board Scholarship Search, a free tool that helps match students with scholarship opportunities.
Discover scholarship opportunities through Fastweb, one of the oldest and most recognized free scholarship search databases.
Search billions of dollars in college scholarships and financial aid opportunities through Scholarships.com, a comprehensive database designed to help students find funding for their education.
Earn tuition rewards toward college costs through the SAGE Scholars Tuition Rewards Program, a college savings benefit that guarantees a minimum scholarship at participating colleges and universities.
Explore scholarship opportunities through Unigo, helping students and families find scholarships and free college funding since 2001.
Students are required to report any outside scholarships to the Financial Aid office. Please do so by submitting a copy of the announcement or check once received.
The Financial Aid office will work to ensure that your financial aid package remains accurate and valid.
For undergraduate students, Federal Direct Subsidized loans offered beginning July 1, 2019 have a fixed interest rate of 4.53%. The federal government pays interest on the loan until you graduate or drop to less than half-time (6 credit hours) enrollment.
A Federal Direct Unsubsidized Loan is not based on your financial need. If your Estimated Cost of Attendance (COA) is greater than your financial aid and you have not reached your annual maximum loan limit through the Federal Direct Subsidized Loan Program, you can be eligible for unsubsidized loans as well.
The interest rate for Federal Direct Unsubsidized Loans offered is fixed at 4.53% (6.08% for graduate students).
To be eligible for a Federal Direct Loan, you must be enrolled for at least six credit hours per semester.
If you are eligible for this loan, it will be included on your Financial Aid Offer Letter.
To apply for this loan, follow the steps below:
The interest rate for Federal Direct Parent PLUS Loans is fixed at 7.08% with a loan fee of 4.236%, for loans disbursed after July 1, 2019; the loan fee is deducted before the loan is applied to the student's account.
A parent may borrow up to the student's cost of attendance minus any financial aid (e.g., grants, scholarships, work-study, federal student loans) the student is already receiving for the school year.
If a Federal Direct Parent PLUS Loan Application is denied, it may be possible for the student to borrow an additional amount of unsubsidized loan. If the application is denied, the student should contact the Financial Aid Office for more information.
To apply for this loan, follow the steps below:
You will receive notification directly from the U.S. Department of Education on your approval/denial.
If you are denied a PLUS Loan, you have the following options:
Repayment begins on the date of the last disbursement of the loan, and the interest rate for loans disbursed after July 1, 2018 has been set at 7.595% with a loan fee of 4.264%.
Borrowers must also apply for their annual loan maximum eligibility under the Federal Unsubsidized Direct Loan Program before applying for a Graduate/Professional PLUS loan.
To be eligible for a Federal Direct Graduate PLUS Loan, you must:
To apply for this loan, follow the steps below:
You will receive notification directly from the U.S. Department of Education on your approval/denial.
Alternative educational loans are available from private lenders and offer additional financial assistance if you have exhausted all other sources of funding for your education. These programs are meant to supplement federal and state aid when the Cost of Attendance (COA) is not fully covered by these programs. Information about the alternative loan process and interest rate calculations should be reviewed carefully.
The IWU Financial Aid Office will process the alternative loan requested by the student; however, we will not certify alternative loans for an amount that exceeds the Cost of Attendance (COA) minus other financial aid. We are unable to provide guidance as to which alternative loan might best meet your needs.
Alternative educational loans require a credit check; therefore most lenders require a co-signer for the loan. IWU will process your educational loan from any lender you choose even if they do not appear on one of the links below.
Begin the Lender Choice process on the FASTChoice website.
You must complete the loan counseling process on FASTChoice before selecting a lender that is not listed.
When that process is completed, either call or go to the website of the lender you'd like to use and follow their instructions for completing an application.
For questions, or detailed academic year policies please contact the appropriate Financial Aid Office:
Campus Students: 765-677-2116, or finaid@indwes.edu
Online & Seminary Students: 765-677-2516, or IWUfinaid@indwes.edu
