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 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 4.99% for the 2022-2023 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
1886 W. 50th St.
Marion, IN 46953
1-866-498-4968
765-677-2516
Fax: 765-677-2030
IWUfinaid@indwes.edu
FAFSA Code: 001822
Free Application for Federal Student Aid
