William D. Ford Federal Direct Loan - Unsubsidized
| 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 The Financial Aid Office's standard practice when packaging a federal student loan 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: | Loan amount must fit within the estimated Cost of Attendance minus all other aid, and the student must not have met the aggregate borrowing limit for the particular program level |
| Repayment: | Begins six months after last date of half-time enrollment. Interest is fixed at 5.49% for undergraduate students and at 7.05% for graduate students for the 2023-2024 award year. Interest rates are set annually by the federal government. |
| Renewal requirements: | Renewal FAFSA is required |
| EFC eligibility requirements: | All |
| Enrollment requirements: | Half-time or more enrollment is required |
| Grade-level eligibility: | All 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
