Apply for Aid

Maximizing Federal Aid

Maximize your federally funded student aid! Complete the steps below to be considered for federal grant and loan eligibility. You may then review Additional Loans if supplementary funds are needed.

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Step 1: FAFSA

File the Free Application for Federal Student Aid (FAFSA) online. If you have not already done so, you must create a Federal Student Aid (FSA) ID and password to log in. The Indiana Wesleyan University Title IV school code is 001822.

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Complete steps 2 and 3 if you would like to be considered for a William D. Ford Federal Direct Loan. If you are seeking grant funds only, please notify the Non-Residential Financial Aid Office so we may note your account accordingly. Failure to do so may complicate and/or delay your approval to begin classes.

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Step 2: Loan Entrance Counseling

Complete the Loan Entrance Counseling Session online. You must have an established Federal Student Aid (FSA) ID and password in order to complete this item. It may be necessary to wait three days from the time you create your FSA ID before trying to sign in to this website.

Select Complete Counseling from the menu, and on the next page click the Start Entrance Counseling button. (Do not confuse this with Financial Awareness Counseling, PLUS Counseling, or Exit Counseling). Select the appropriate Student Type for your current degree pursuit—undergraduate or graduate. You must enter “Indiana” in the School State field even if you attend classes in another state or online.

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Step 3: Master Promissory Note

Complete the William D. Ford Federal Direct Loan Master Promissory Note online. 

You must have an established Federal Student Aid (FSA) ID and password in order to complete this item. It may be necessary to wait three days from the time you create your FSA ID before trying to sign in to this website.

Click on Complete a Master Promissory Note from the menu and select Subsidized/Unsubsidized MPN from the next page. You must enter “Indiana” in the School State field even if you attend classes in another state or online.

NOTE:  Students in a graduate program should first apply for a Subsidized/Unsubsidized William D. Ford Federal Direct Loan before applying for a PLUS Loan for Graduate/Professional Students. Be certain to select Subsidized/Unsubsidized MPN.

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Important Information

Other Aid Source Disclosure

If you will receive additional funding to help pay for your education, complete the Indiana Wesleyan University Other Aid Source Disclosure Form and submit it to the Non-Residential Financial Aid Office.

Federal regulations require students to notify the financial aid office of funding they will receive from certain additional aid sources and that we consider those funds when calculating student financial aid eligibility. Examples of other aid sources that must be reported are: 

1. Employer reimbursement, including military tuition assistance (TA)
2. Grants and scholarships from outside agencies, foundations, and corporations
3. State-administered vocational rehabilitation services and workforce development funding

You DO NOT need to report standard veterans benefits (e.g., Chapter 30 Montgomery, Chapter 31 Vocational Rehabilitation, Chapter 33 Post 9/11) or funding from a 529 College Savings Plan.

Reduced Loan Request

If you wish to have a lesser loan amount awarded than your maximum eligibility, complete the Reduced Loan Request Form and submit it to the Non-Residential Financial Aid Office. Do not complete this form if you would like your maximum loan eligibility awarded.

A student's financial aid award package is determined in part by the Cost of Attendance (COA) for the academic year for the student’s program of study. This COA includes an estimated allowance for reasonable living expenses, including housing, meals, and transportation (if applicable).

The Non-Residential Financial Aid Office's standard practice is to originate federal student loans for the amount of a student's maximum eligibility. It is not uncommon that a student's financial aid award package is greater than the cost of tuition, books, and fees directly billed by the university. Excess funds beyond a student's costs for the payment period are refunded to the student.

You may view your total federal student loan indebtedness on the National Student Loan Data System (NSLDS) website.

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IWU ENCOURAGES STUDENTS TO BORROW CONSERVATIVELY