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

The Financial Aid Office's standard practice when packaging federal student loans for adult and graduate students is to originate the loan for the amount of the student's maximum eligibility. Additionally, the student does not need to actively accept the loan(s) awarded as part of the student financial aid award package. The loan amount may be canceled or reduced simply by completing a Reduced Loan/Loan Return Request Form.

Application process: Must have completed a Federal Direct Loan Master Promissory Note, the Federal Direct Loan Entrance Counseling session, 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 3.76% for the 2016-2017 award year and 4.45% for the 2017-2018 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
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

Financial Aid Estimator

FAFSA Code: 001822

Free Application for Federal Student Aid

Last updated: 05/17/2017