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
Up to $7,000 for juniors, seniors, and continued undergraduate-level study
Up to $20,500 for graduate students

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 3.76% for undergraduate students and at 5.31% for graduate students for the 2016-2017 award year. Interest is fixed at 4.45% for undergraduate students and at 6.00% for graduates students for the 2017-2018 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
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